The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1905-02-18

1
that the representatives of the pro-
dueerS OF raw cotton, and an agree
ment could be reached between the
two bodies by which the manufacture
erS would pay the producers eight
cents pound for given number of
bales Of cotton for the next five years,
thus cutting out the speculatOr, it
would be great thing for the manu-
facturers and the cotton raiSerS. Such
thing at this time cannot be accom-
plished. l believe though that within
the next ten years something Of that
sort will be brought about, by which
a steady and uniform price for manu-
factured products will be maintained,
giving the manufacturers a fair in
come on their investments in build
ings and machinery, and the producers
| of cotton fair income on their in
vestments and labor.
The organization of the Southern
Cotton Holding Association of New
Orleans may be the first step in the
direction of accomplishing such re-
suits. Any way, am firm believer
that the recommendations of that
convention will be carried out to such
an extent as will relieve the cOngeS-
ton or cOngeSted situation, sooner
than it has heretofore taken nature to
accomplish the same result.
The proposition is too plain not
to be understood. The carrying of
it out is simple, and it will save money
in the working Of fewer acres and in
gathering and marketing a smaller
crop, and is certain to bring about
high price for the cotton that is
raised or held. / believe that every
farmer in the country will reduce his
acreage in cotton at least 25 per cent;
this will be done in the main by
planting 25 per cent. of the land that
was in cotton last year. in corn this
year. Such plan would insure big
price for cotton, and insure plenty of
corn in the country for the succeed
ing twelve months. Such an ideal
state of affairs for the cotton belt.
If such result required greater la
Dor and greater expense, or be doubt
full OF results, / would have my mis-
givings about the success of the COM
bination. But where there is every
thing to be gained, and nothing to be
lost, sthere is no reason to expect that
any farmer will be so blind To his own
interests or unmindful OF his neigh
boris and the country at large, as to
go back upon the carrying out Of such
an agreement.
AS every calling in this country is
dependent, directly Orindirectly, upon
the money derived from the sale of
cotton and cotton seed, it behooveS
the butcher, the baker, and the can
dle-Stick maker" and the lawyer, the
merchant, the doctor, and the black
smith and the banker particularly
the banker), to do any and every
thing each one can to uphold the
farmer in his determination to stand
by his agreement, and to lend every
assistance to him in the carrying out
of the plan laid down by the conven
tiOn.
TO that end, | now offer to con-
tribute a small part of my substance
i have two congresses, one at
Greenwood and the other at LeXing
ton, and l now offer to give free Stor-
age to any one who desires to hold his
cotton for period from six months to
five years thereafter. There has been
considerable talk about the building
Of warehouses by the farmers in Texas
and other states, as though it was
necessary to have these warehouses
in order to store i'm Il considerable
amount of cotton. | feel sure that
every compress in the United States
will do the same thing that | now Of
fer to do: and il SO, the warehouse
feature will be settled as soon DIS the
congresses undertake to give free
storage to the people who want to
hold their cotton according TO agree
ment.
Il will say right here, that this offer
is not superinduced by any motive on
my part TO raise the price of Gotten
that / own, or will own. My crop
was all sold on or before the Sd of
last December: some of it has not yet
been delivered, but it has all been
sold.
In conclusion, l will call the atten-
tion of the convention to the fact
that it is not necessary to borrow
forty or fifty millions otdollars to buy
and hold, at eight or ten cents d
pound, one million bales of cotton.
With margin Of six or eight dollars
Il bale, the banks of the country will
be glad to carry a couple of million
for twelve months or longer, upon
warehouse receipts and insurance poll
cieS-
There is another thing l call your
attention to and it is this: 1t is al
most destruction to a large cotton
mill to get out of the raw cotton and
be forced to shut down and discharge
its employees. Such mill would
gladly buy cotton at price that
would enable them to run and lose
money by running, rather than to
shut down at a greater loss.
s'rTha loss tn the farmer hv hOldinr