The herald and news. [volume] (Newberry S.C.) 1903-1937, 1907-10-04
COTTON FARMERS
STAND TOGETHER
THE CALL TO ARMS FROM
THE FIELD MARSHAL.
Mr.. E. D. Smith is Indignant-Says
the Gamblers Give the Lie to
Their Old Excuse Of Supply
and Demand.

Inc, SLdle.
"Hold your cotton"
That has ever been the advice Of
Mr.. E. D. Smith. Now he adds:
"Keep on holding.'
When he saw yesterday m9rning
how the reports to the department Of
agriculture had verified tae claims
of the Cotton association that the
crop vas Snort and that the price was
ridiculously low, he was wrought up
to the boiling over pitch when he saw
that the gamblers on Wall street were
pushing the price down and giving
the lie to their own excuse Of the past
eve must yield to the law of sup
ply and demand.'
s'It is robbery. It is an effort to
take the money out Ct the pockets OF
the people of the south just as a
piekpoeket would do," said Mr.. Smith
They know that this-is debt paying
time in the south and they think they
have us at their mercy, but we will
give them a fight which will show
them the spirit Of the south is ye
too proud to yield to them.
''Supply-it is short! Demand
why, am informed that the mills are
selling their product at a price which
would be profitable if cotton were b.
ing purchased at IS cents per pound.
"'Hold you cotton That is all
that I can say to the farmers Of
South Carolina. And all who will mold
are urged to let me know that they
Will hold and how much they will hold.
It will require just a few lines on a
postal card addressed to our Office,
room SO, skyscraper, Columbia, S.
c."
"The government report, both as
to condition and number of bales gin
ned. was even more bullish than the
friends of higher prices really anti
cipated, 81 on condition and practi-
cally half million bales less ginned
TO date than last year, confirming the
statement that the crop was steadily
deteriorating in condition and that
there was not and would not be as
much to gin this year as last by pos
sibly 100000 bales. This amount is
about correct as the per cent Of de-
crease in condition shows, and the
ginners' report certainly confirms this
estimate.
"Yet the professionals take it as
a.joke and proceed in the face of
these conditions-that should warrant
from 3 to 4 cents more per pound
than it is bringing-to deduct dol
lar bale from the cotton now going
on the market. Every argument, all
statistics, the law Of supply and de-
mand, all in favor now Of higher pric-
ed cotton, the south through her COT
ton organizations demanding a high
er price, yet these gentlemen see fit
to taunt them with this added insult
today of a 20 point drop in the mark
ct.
els it possible that the business
men and farmers of the south are 60
ing to have ii proven to a certainty
that the cotton gamblers can deter
mine what the revenue Of the south
shall be and what shall be the per-
sonal wages of every individual in the
south? Or will they take this occas-
ion to prove that they are masters Of
the situation?
"The situation would be ludicrous
if it did not involve so many interests
vital to the south. AS said in my ar
ticle Of last week, the only possible
answer is-to stop selling cotton.
"The bankers and merchants of
the south as well as the creditors of
the south should cooperate now in
helping the south to win this fight.
This is the first time when conditions
. were such that we will be in the posi-
tion to prove our friends and remem-
Der them.
"Once more let me urge every man
who has cotton to report to me on a
postal card the number of bales he is
making and how many he will hold