The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1907-10-16

whereas the other runs down the
price Of something which is the prop
er.y Of some one else and makes ms
profit out of the other mans losses
The simple question TO-DAY iof iae
cotton farmer OF South Carolina aE.'
the South 10 ask himself IS: IS not
nv cotton worth more, or Will II not
he worth more than am now oltef2o
:or it2 II so, what shall i 40 to COM
nel those who want it to pay its TGil
value: Both OF these questions should
be carefully considered and carefully
They are just as impor-
tant tc the farmer as any OF his IN
yestments are to the banker or the
capitalist. To the farmer they ire
ouently mean his all. It means the
comfort of his family, the happlnSss
and the future OF his childreA. W
nrudent man is always caretui HoN
he advises his friends IN resa' ~
money investments. me sa.Ne
dence should be exercised ~ Su' ts
ing the farmer in regard 10 MS wv
y your cotton is intrinslca!l! W. 80
- ,no~e than the market price tooa! i.
- II will not enhance IN price II IS
- your interest to sell nov. II on
no ether hand. it is worth more than
RE market. if you will get q bette:
rice by holding it. why. Of course,
If is to your interest not to sell now
The answer which will be given 20
the first of these questions depends
largely upon who is the party ques-
toned.
unfortunately there has been so
much speculation in the cotton MAI
ket that it is difficult for any one
even a disinterested party after care
full study to advise with any degree OF
certainty. He can only say "na1
sbonld be; what certain facts war
rant. and in the long run 1t IS 1aets
that tell. To the second queselon
there is but one answer. should you
determine that cotton is selling belo"
i+s yalue. and this answer is that you
,nnsr give YOUR product to the marker
only in such quantities and at sucil
lines as consumption demands.
An Illustration.
"To illustrate: am not going 70
,.v Won YOUR price for horse IN the
Fail and feed him all winter "hen
do nof need him to plow until spring.
Fsnec;ally is this true when l must
borrow the money at eight per cent;
When I need the horse-then ana
not nntil then-will I be willing 10
meet your demands. Wnen you aIe
so situated that you can keep tns
horse at less expense than can' ano
asnecially when you can insure nlnl
against dying, the proposition IS SIM
Ne enough. 1t is to your interest 10
laen the horse until am in the mar
Ief: even il you have to 6orro"
I;t,je money on the horse 1t is wiser
For Won to do this than 1t is Tor me
to borrow the full amount OF the pun.
chase price. But if you INSIST unot.
nv buying him now the dlHereace
must be bourne by you. AS IT is IN
the sale of a horse so it is in the saie
of q bale of cotton. All carrying
charges and all risks of fluctuatlne
markets must be assumed by tne
producer. who insistes on selIlns De-
fore the consumer is ready to pur-
chase.
I'm speaking to you this morning;
T wish to discuss both the presea,
and prospective prices OF cotton. aho
also urge upon you the only metnoo
which l see you can adopt to orlns
ahout mc.v favorable conditions.
las a general proposition we VII!
all admit that when the consumptlol
Of an article approXimates its proouc'
ion. when the supply meets the oe'
mand-that price for the article is
sair and equitable one which Will al.
low the article to be produced ana
consumed at a reasonable profit tc
Moth nroducer and consumer. vi
course with cotton I use the wore
consumer in the sense of manuiac'
turer.
As to Prices.
The first thing 70 be considered is
the relation between production ana
consumption. What are the facts TO-
dav in regard to the cotton crop fcT
the season of 1907-0S? Do they or
do thew not warrant the paying OF a
better price than is no" oelns Oh
fered?
The total cotton crop for the year
ending Sept. !, 1907, amounted to
13,51O.9S2. an increase of over two
million bales over the crop OF 1919
06 and a decrease Of so odd thous-
and bales under that of 19o4-V9
This increase was caused by the mag
nificent crops of the South Atlantic
States being somewhat below the aV.
erage. Last year on September 20
the AGRICULTURAL department placed
the condition of the Texas crop at
points, whereas the report just Issued
places the condition for this year at
so points. Louisiana last year on the
same date was placed at 73. and TINS
wear at 65 points. Mississippi! last
year was placed at IS against 69
points this year. Alabama is placed
at the same figure as a year ago.
''As we come eastward, according
20 the government report. the condl-
ion of the crop is Slightly better this
year than il was at the same date last
wear: but we must remember the
bulk of the crop is produced IN IeSas
and the Gulf States. Should we have
an excellent season for harvesting
and a late frost. even then all indica-
lions point to crop of nearly a
million bales less than was raised last
year.
Last Years Consumption.
During last year. of our 1890
900 bales of cotton the world had up
to the beginning of this season con-
sumed l2,500,000 bales, carrying
into the present season only 1,0eV,-
900 bales, and this amount was vide
" scattered in this country and
throughout Europe, making STOCKS
comparatively light at all points OF
consumption.
Under these circumstances. with
out any increase in The consumption
of cotton during the coming season
the supply will not exceed the de-
mand, but the chances are ali in favor
of an increased consumption. AS !
have already stated, during the past
: ntfnn Nf cotton