Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1906-06-05
RECENT SLUMP IN COTTON.
What Caused II and How to Prevent a
Repetition.

nCpCblIlOu.
Pre- sident E. d. Smith, of the South
Carolina Cotton Growers association,
has given out the following interest
ing statement with regard to the re-
cent slump i'm the price of cotton:
Necessity Of Organization.
The recent drop in the price of cotton
emphasizes the absolute necessity for
thorough organization on the part OF
the south for the protection of this,
her main article of commerce and from
which she derives the capital upon
which her entire commercial structure
depends. 1t is a matter of surprise
that business men of the south look
upon this movement to control the
price of cotton as being one in which
their sympathieS, perhaps, are enlist
ed, but in which they have no per-
sonal interest.
South's Dependence on Cotton.
/ write this article i'm the hope that
I may put a new light upon it and
will show to some at least how the
price of cotton is of vital interest to
every one engaged in business in the
south, and how it is absolutely i'm
possible for the farmer alone to control
the price. No one will deny that cot
ton is the essential, the currency or
the south. The amount of business in
the south is dependent upon the volume
of money she receives from her cotton
crop. Now. what are the factors un-
der the present system of things which
determine the amount of money we are
to receive from given crop? The
banker, the merchant, the teacher, the
preacher. all seem to look upon this
fight as being one in which the farmer
alone is vitally interested.
An Illustration.
Now. to illustrate the actual condi-
tiOn of affairs there is enacted on the
streets every day during the cotton
season a scene which brings out accu-
rately the explanation of the South'S
condition, and the forces which deter
mine the price. The farmer drives up
on the street with a bale of cotton on
his wagon: that bale of cotton repre-
Sents a part of the currency OF the
south, a part of that which is to deter
mine the amount of money that shall
be put into circulation. Who samples,
grades. weighs and fixes the price of
this cotton? The representative of the
organized brain and capital of the
world.
Our Opponents Organize.
The European spinner Is thoroughly
organized. the northern spinner is or
ganized, the southern spinner Is Or
ganized. therefore, the one who sam
pies. weighs and prices this cotton is
the representative of one of these or
ganizatiuns, one who knows the intrin-
sic value of the cotton. and from the
very nature of the case ii is to his IN
terest to get it as low as possible; be-
cause the difference between what he
buys ii at and the price ut which he
sells the manufactured article is the
margin of his profits. As said before,
he is a representative of organized
brain and capital, he has an unlimited
credit, he represents that element
which seeks to get the cotton as cheap
ly as possible, and which really, under
the present system Of things, fixes the
price of IL.
Who is on the Farmers Side.
Now, who is on the sOuth's side. the
side which Is to determine how much
money shall be- put into circulation
through The southern cotton crop? The