The herald and news. [volume] (Newberry S.C.) 1903-1937, 1907-09-27
GAMBLER AND GROWER--WHICH
WINS?

Speaking about brazen robbery:
Spot cotton declined 80 points, Oh
$1.66 a bale, in New York on Mon
day-or about twenty-one and half
million dollars on a crop of l3,000,.
600 bales.
What was the reason given9
"Because the equinoctial storm
did not do much damage!' That
comes pretty near being the limit of
= audacity.
According to the logic of this e1-
cuse, for the two weeks preceding the
autumnal equinox, the price of cot
ton should have advanced, in antici-
patton Of the dreaded storm. But in
stead Of advancing, the spectators
steadily and consistently depressed
cotton during that period. They fore
ed down the market price about $3.50
a bale.
The day before the equinox, when
storm signals we're displayed along
the gulf coast, what happened in New
York; By every rule of argument
and consistency cotton should have
advanced; but it went down FIVE
points. And on Monday, waen the
storm passed without damage the
depression was 80 points more.
That is a fair sample Of the meth
cd of dealings in New York. There
was as much need for raw cotton on
Monday as on Saturday. All that
there is will not be sufficient to meet
the worlds demands. The mills
throughout the world are running on
full time; there is an assured market
for every yard Of cloth that is woven.
Yet, because much cotton was not
destroyed, the spectators use that as
a pretext to hammer the price still
lower.
That method is little better than
highway robbery; the only difference
is that the farmers have not got to
stand and deliver. If all Of them will
have the nerve to quietly sit and wait
for 20, days they will see cotton climb
back about So a bale.
But to accomplish that great result
the growers must stand together,
from one end Of the cotton belt to
the other. And merchants and
bankers, and business men generally,
should dissuade the small farmer
from turning loose his little crop;
and, if possible, help him to hold it
for short while. Every bale market
ed now weakens the south. This is the
crucial test; the next few weeks will
determine whether the gambler or
the grower shall win.-The State.
I The above is the line taken by The
Herald and News some ten days 40
and we take pleasure in copying it
in this connection and in endorsing
the position Of the State.
As we stated in a former issue of
The Herald and News, We are glad
to see the papers like the Columbia
State and the Atlanta Journal taking
the position which is taken in the
above in regard to the fight which
is now on between the cotton grower
and the money center. As we see it,
there is absolutely no reason for the
decline in the price of cotton ex-
eept that it is an effort Of the gamblers
in the great staple product Of the
southern farmer to whip him in the
fight, which he has been making
through the two organizations Of the
farmers for a living price for his
staple crop.
We would be glad to see not bale
of cotton put on the market for twen-
ty days. and we believe that the State
is correct when it says that if this
were done, "cotton would climb
back So bale.'' In order to accom-
plish this, however, it is absolutely
necessary that the farmers should
stand together. They have the key
to the situation, but it requires united
effort. We are very anxious that.they
should win in this fight.