The herald and news. [volume] (Newberry S.C.) 1903-1937, 1906-06-19

much suffering this entailed. Perhaps
he could not indicate it better than by
sayingSthat iI many cases two famil-
les had$to be crowded into one house
So long as they had fluctuations of
that sort, so long must they remain in
the unhappy position they were now
in. What was the crop going tot"be9
If it was anything less than 10000
600 bales, they would have specula-
ton again and short time. The con-
sequences of short time were very
serious. According to Mr.. Macara,
who was generally recogized, he said,
as the greatest authority on cotton
statistics, three-quarter time meant a
total loss to capital and labor Of 15O,-
600 pounds week ($75O,0O0) to
Lancashire alone, and $20,OO0,0O0. a
week to the whole country (England)
The association had made in
quiries all over the world in their
search for new sources of supplies,
and they had come to the conclusion
that they must have n country cap
able of producing millions of bales to
take the place of or supplement the
American supplies. And that North
Nigeria alone was the only possible
salvation for the cotton trade. But
here they are brought up against the
fact that North Nigeria was for all
practical purposes inaccessible.
"Sir Alfred Jones urged the Eng
lish government to take hand in
helping the British cotton growing as
sociation. Sir Alfred Jones is presi-
dent of the British Cotton Growers
association. Sir w. II. Holland, pres
ident of the association Chambers Of
Commerce, said at their meeting they
had passed strong resolutions to the
same effect. He said that any who
paid visit to the cotton manufac-
turing district Of Lancashire and saw
the large number of new mills which
were springing up in every direction
like mushrooms, would be con-
vinced that the question Of new
sources of supplies of raw cotton was
more acute today than ever before.
The prime minister's reply was, "I
doubt if ever deputation came to
government so important, so almost
pretentious, and so impressive as
this,' and then went on to review
the situation in full
The South g Chance.
"Now, in view of these facts, does it
not seem the height of folly that the
South, owning monopoly of the
worlds supply of raw cotton, and
having the possibilities of an unlimit-
ed increase in cotton production,
should be so Indifferent to this, her
grand opportunity for fixing and
maintaining a price commensurate
with the worlds demand for raw cot
ton! Tt is very painful contrast be-
tween the attitude of the English
government to the English cotton
trade and our government to the
American cotton trade. England is
not half so indebted to her cotton in
dustry for her financial welfare as
America is. to say anything of the
South. 1t is mark of the groSscst
ignorance, not to say stupidity. on
the part Of the Southern business
men not to take the proper view of
their relation to the cotton industry
III fixing and maintaining rcmuner-
ative price. TO sell our cotton at 10
cents Il pound for next fall delivery
is to forestall the work of the South
ern Cotton association and place the
consumers or purchasers of our cot
ton in Il position to dictate the price.
L" AT Il netting of the executive
committee of the Southern Cotton as
sociation held in Jackson, Mississippi,
on May 81, the following resolution
was passed: Resolved, That we call
upon our members and the producers
of cotton at large not to sell their
actual cotton for future delivery; as
we have every reason to believe and
feel confident that the price of cot
ton must advance materially beyond
the present fall quotations..
I'm view of the article quoted
from the Lancashire paper, all that
we have to do in order to fix and
maintain fair price is simply to re-
fuse to take less. And this may not
be done, except by and with the full
cooperation of all Southern business