The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1907-09-18
F1ftecn Cents Cotton.


and the executive committee of the
southern Cotton association differ nv
one million bales in their estimates of
the cotton crop now being harvested
ana the usual protest may be expect
ed from New England against the
action of the Southern Cotton as
soclation and the Farmers union
IN deciding to fix Is cents the
pound as the minimum price of the
staple.
we do not pretend to know what
the price Of cotton should be. Ulti-
mately the law of supply and demand
VIII assert itself, but it is well
enough to emphasize again that the
crop Will not bring its value unless
the growers express and act unon
their own opinion as to its value.
There is precisely the same reason for
farmer with cotton to sell to nams
price for it>as there is for the own
er or horse, share Of railroad stock
or OF an automobile to name a selling
price for his property. The Southern
farmers are in better condition this
year than ever before to hold cotton.
Few Of them will be forced to hurry
1t to market. The chances are excel
lent that better prices will prevail
later in the, season. Cotton is not
perishable, warehouse facilities are
more numerous than they have been
and common sense makes plain the
duty and wisdom of every cotton
grower to follow faithfully the ad-
vices of his organization leaders.
Admitting for the sake of the argu-
ment that the crop will reach IL, 3,0U0,-
600 or more bales. it does not follow
In the least that the buyers should be
allowed on that account to determine
what the price Of the crop shall be.
The more cotton that is held between
the present date and the beginning of
the harvest in 1908 the more the mar
ket will be steadiedi and, although the
farmer who holds necessarily assumes
some speculative hazard, the chances
Of loss to him are so small as to make
the argument in favor Of loyalty to
the association and the union over
whelming. The southern cotton far
mer is in the saddle and he would be
no better than fool to listen to the
pleadings and outcries Of cotton buy
ers that they release their product for
whatever the buyers choose to sug-
gest. a..
presupposing that there will be
during the : season; substantial
slump from the prices now prevailing,
the present condition brings out, clear
ly the strong position Of the southern
cotton mills. the mills in the field. r.
considerable part Of the crop must
this. year. as e, in every year, be
promptly marketed. Many farmers
are in debt. They owe the merchants
and the banks for advances and money
used in their farming operations, Thia
cotton will become Immediately avail
able to the Southern mills. who may
buy 1t at their doors and who can at
ford to pay the price of transportation
in excess of the New York quotations.
In time the New England and for
,ign spinners may find it advisable to
send competitive buyers into the mill
districts early in the season and take
advantage Of the quick offerings OF
cotton, but, Of course. they would be
compelled to meet the prices offered
by the mills. with the result that the
growers in the mill districts would
save freight and sell all their cotton
at figure equal to or above New
York prices. Heretofore the policy
Of outside buyers has been to with
draw from the Southern mill districts
until the Southern spinners had se-
cured their stocks for the year. This
policy has been of material advan-
Mge to our spinners, but if the out
siders should abandon it they would
still retain some advantage and a
greater profit would inure to the far
mers. At any rate Southern farmers
who produce cotton in the neighbor-
hood Of the mills have had drought
sharply before them the very great
benefit that they enjoy through the
establishment Of the spinning indus
try.-News and Courier