The herald and news. [volume] (Newberry S.C.) 1903-1937, 1907-11-01
URGES HOLDING OF COTTON.
Secretary Weston, Of the South Car
olina Cotton rowers' Association,
Calls Attention to the Low
Price of the Staple and
Calls Upon Planters
Not To Market.


Columbia, October 29.-The follow
inc was issued today from the state
Office eff the Southern Cotton >Asso-
ciatior =
To the Farmers Merchants and
Bankers of South Carolina:
III view of the fact that cotton
upon which the prosperity Of the state
is dependent-ha fallen from Is
cents at the opening to about 10
cents today, and its tendency seems
still downward, I deem it my duty as
secretary of ihe Southern Cotton As
ISOLATION. South Carolina Division, to
make this appeal on behalf Of the
business interests Of South Carolina.
The loss to the state on account OF
this depreciation in cotton can hardly
be realized: a loss of $15 to the bale,
or in case the State Of South Carolina
makes 100000 bales of cotton
S15.O0O,0OO, far more than the assess
ed value of the property Of most any
county in the state.
The decline in the price Of cotton
can be partially explained by the ex-
traordinarily tight money market
which has been prevalent in certain
sections Of the United States for sew
eral months. But an examination OF
the books of the stock market Will
convince you that the depreciation IN
cotton, which mas intrinsic value, has
been greater than that Of any stocks
whose values are largely speculative
This downward tendency of cotton
can he checked only in one way, and
that is to withdraw the cotton from
the market. To continue to offer It
for sale under these circumstances is
hut to assist those who are hammer
inc the price of cotton down. A
southern man who will sell his cotton
under these circumstances, except un-
der the most, pressing necessity, IS
nothing more or less than a traitor to
his country; mis- position is that of the
contemptible East Indian who allied
himself with the English to shoot
down his own people and assist IN
conquering his own country.
For the producers to have a voice
in fixing the>price of his product is a
proposition 50 fair, so just and so
equitable that no. right thinking per-
son can oppose it. That is all the
farmers desire ior hope for. We are
passing through crisis in the his
tory of the south If its prosperity
is to continue. the price Of cotton
must be kept up. In this fight we
cannot, like the stock gamblers OF
Wall street, expect aid from the treas
ury of the United States, but we must
make this fight upon our own resorar'
ces. In fact, it is the policy of those
high in the financial world to depress
the price of cotton in order that the
foreign. consumer may ibring his mon
ey and purchase the cotton in the
south and relieve the financial sltua-
ton in Wall street.
They tell US that the farmers OF
Texas are demoralized. [ have be-
fore me a dispatch from the Farmers
Association in Texas to the effect
that thev are not selling cotton, but
exrect Md to the last ditch.
Ycu cannot help the situation by
selling your cotton; the only thing
You can Go is to withdraw every bale
of cotton from the market until it,
downward course is checked. The
mills actually need every bale yor
produce, and if you are loyal to your
self and to the best interests OF the
! south YOU Will hold Your cotton ano
receive better prices.
Francis H. Weston, Secretary.