Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1907-10-09
SMITH IS wRATHY.
Presiden Of State Cotton Association
Gives His Views.
(From the columia state.)

u y ~
Upon the publication OF the gov
ernment reports In New York last
Wednesday, future contracts fell
from 81 to 20 points, or upward Of
$1.25 bale The alleged reason
| was that the decline I'm condition was
not as g"eat as the traders expected.
The following embodies the Views Of
e. d. Smith on the situation:
Hold your cotton!"
That has ever been the advice of
e. D. Smith. Now he adds: "Keep
on holding"
When he saw yesterday morning
how the reports to the department
of agriculture had verified the
claims of the cotton association that
the crop was short and that the
price was rtdiculously 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---"We must yield
to the law of supply and demand
1T is robbery. 1t is an effort to
take the money out of the pockets Of
the people of the South just as a
pick-pocket would do" said Mr..
Smith. "They know that this is
debt paying time In the South and
they think they have us at their
which they will show them the spirit
Of the South Is yet too proud to
yield to them. a...
"Supply-it is short! Dem and
why, am informed that the mills
are selling their product at q price
which would be profitable If cotton
were being purchased at 18 cents
per pound. ...s
Hold your cotton!' That Is all
that ! can say to the farmers of
South Carolina. And al who hold
are urged to let me know that they
VIII hold and how much they will
hold. 1t will require just a few
lines on postal card addressed to
our office, room 510,' Skyscraper, CO.
lumbia, s. c." D.
"The government report, both as
to condition and number of bales
the friends of higher prices really
anticipated, 67 on condition ana
practically half million bales less
ginned to date than last year, con-
firming the statement, that the crop
was steadily deteriora Ing i'm condi-
tion and that there was not, and
would not be as much to gin this
year as last by possibly 100000
bales. This amount ia about correct
as the FER cent of decrease In cundi-
ton shows, and the ginners'F report
certainly confirms this estimate.
yet the professionals take it as
joke and proceed in the face of
these conditions-that should war
rant from to A cents more per
pound than 1t is bringing-to deduct
1oh t,nl1
going on the market. Every argu-
ment, all statistics, the law OF sup
ply and demand ,all in favor now of
higher priced cotton; the ''South
| through her cotton organizations de-
manding higher price, yet these
gentlemen see fit to taunt them with
this added insult to-day ofma 20
point drop in the market. { '.'
"Is 1t possible that the bdsiness
| men and farmers of the South are
going to have 1t proven 70 a certain
ty that the cotton gamblers can de-
termine what the revenue of the
South shall be and what shall be the
personal wages Of every individual
in the South? Or will they take this
occasion to prove that they are mas
ters of the situation? ~,
"The situation would be lutiicrous
- ~ uAo hoI ihFotNO po lhdhJ lutcl-
ests vital to the South. AS said in
my article Of last week, the only pos
sible answer is--to stop selling cot
ton. -... ,,n,
"The bankers and merchants OF
the South, as we'll as the creditors Of
the South should cooperate now in
helping the South to win this fight
This is the first time when condi-
tions were such that we will be in
the position to prove our friends and
remember them. y .. ..... f. ..
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 from the market. Reports are
coming IN now. / want, them as full
as possible 30 that may tabulate
them and give them to the public for
the benefit Of all parties interested."