The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1906-06-06
RECENT SLUMP IN COTTON.

Columbia, June 3.-President L. D.
Smith, of the Cotton Growers Associa.
ton. was in the city yesterday, and las:
night gave out this interesting state
ment with regard to the recent "sIump"
in the price of cotton:
The recent drop in tho price of cot
ton emphasiz zes the absolute necessity
Tor thorough organization on the part
or the South for the protection of tins,
her main article Of commerce and from
which she derives the capital upon
which her entire commercial structure
Depends 1t ia a matter of surprise
that business menof the eouth look upon
this movement to control the prica of
cotton as being one In which their gym
pathiee, perhaps, are enlisted, but in
which they. have no personal interest.
l write this article in the hope that
1t may put q now light upon it and will
show to come at least how the price of
cotton ia of vital interest to every one
engaged in business in the South, and
how 1t is absolutely impossible for the
farmer alone to control the price. No
one will deny that cotton is the essen
elal, the currency of the South. The
amount OF business In the South is de-
pendent upon the volume Of money she
receives from her cotton crop. Now,
what are the factors under the present
System of things which determine the
amount OF money we are to receive
from q given crop3 The banker, the
merchant, the teacher, the preacher,
all seem to look upon this fight as be-
Ing one In which the farmer alone ia
vitality interested.
ton OF affairs, there ia enacted on the
streets every day during the cotton
season scene which brings out accu
rately the explanation of tho South's
condition, and the forces which deter.
mine the price. The farmer drives up
on the street with bale Of cotton Oh
his wagon; that bale of cotton repre-
sents part of the currency of the
SOUTH. part OF that which is to deter
be put into circulation. Who samples,
grades, weighs and tixes the price of
this cotton9 The representative OF the
organized brain aud capital of the
The European spinner is thoroughly
organized, the Northern spinner is or
ganlzed, the Southern spinner is organ
lied, therefore, the one who samples,
weighs aud prices the cotton is the
representative or one Of these organi-
value Of the cotton, and from the very
nature Of the case 1t is to his interest
to get 1t as low as possible; !; because
the difference between what he buys 1t
at and the price at which he seilo the
manufactured articles is the margin of
his profits. As said before, he is O Tepte-
sentative OF organized brain and capi-
tai, he has an unlimited credit, he rep.
resents that elemenS which seeks to get
the cotton. as oheaply as possible, and
which really, under the present system
OF things. fixes the price of it.
Ne@, Who i5 on the Soutn's aide, the
side which 10 to determine how much
money shall be put into circulation
through the Southern cotton cropH
The E"nreseeHattssttiiv6 reatsstiv6 Of Southern pow
erty and Reorganization, tho producer
who has neither capital nor credit and
W HTltnont any Organization to back himf
On tug one elde representative Of the
organized brain and capital of the
world. and on the other side the repre-.
sentative Of the South's poverty and