The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1906-01-31
Farmers Educational
and Cooperative Union
P. 4. CHEATHAM, l.,
A. F. CALVERT.

~~~0~~
FIFTEEN CENTS COTTON
The mammoth Cotton Convention
held at New Orleans January lib
1906, without a single Dissenting
voice, unanimously endorsed the reso
luton to hold the balance of the unsolC
portion of the present unsold crop fol
fifteen cents per pound, basis middling
at the ports.
The Executive Committee of the
Southern Cotton Association, in an
nual session at New Orleans, January
18th, 1906, also unanimously endorsed
the action Of the Convention relative
to the fifteen cents resolution. Rep
resentative of Sou hern Bankers, who
assembled at New Orleans during the
Cotton Convention, passed strong re.
solutions guaranteeing the moral and
financial support Of southern banks
in the present effort of the Southern
Cotton Association to secure fifteen
cents for balance of the crop. The
fight Is now on to finish between the
spot holders and friends of higher
prices, backed by southern bankers,
and the Bear speculators, spinners and
enemies to fair and equitable prices.
The lines are plainly drawn, and
friend or foe will be quickly recognised
by the voice, pen or position taken.
We are dealing with a product
worth many hundreds of millions of
dollars annually, distributed. in its
raw and manufactured form, through
out the entire civilized world. The
producers of the most valuable pro-
duct of southern soils have been the
slaves and serfs or the commercial and
consuming world for nearly half CEN
tnry, Southern cotton growers, finan-
ced by their local banks, are gradually
working revolution in the old sys-
tenn of marketing their staple.
Short crops and fairly good prices
from 1900 to 1904, freed the southern
growers generally from the lash of
mortgages and credit. Increasing the
food supply crops, has been all impor-
tant factor in developing that indepen-
dence and thrift which should CHAR
acterize every farm. For these rea-
sons, it made possible the handling OF
the great crop or 1904, on a profitable
basis to the growers against the COM
bined organised brain and money Of
the world. 1t is for these reasons,
together with advanced thought,
study, and better knowledge of light.
maze supply and demand of cotton,
that will enable the spot holders of cot
ton In the south, to demand and en-
force higher prices for the balance of
this crop than are at present prevail
ing. 1t has not been denied that
spinners could have paid twelve cents
to the farmers, for the entire crop Of
1905, and declared good dividends on
their investment, at the prevailing
high prices of yarns and dry goods.
II cannot be denied that Bear specula-
tors, backed by the spinners. took ad-
vantage of the necessities Of the farm
ers In September and October, and
forced prices down to 9 l-2 cents per
pound buying in fully one-half of the
crop around ten cents. If the balance
of the crop now held. and which does
not exceed !, 500. 900 bales, Is sold at fif-
teen cents per pound, the whole crop
will 20 to the buyers and spihnees at
an average price TO the farmer under IL
cents per pound, Where is the ex hor-
bitapt demand of the farmers? If the
cotton is worth it, why should not the
producer be entitled to receive its full
value? Those gentlemen who ale rails
ing such howl about II cent and fif
teen cent cotton, wereas silent as the
grave when cotton was selling at 6
cents.