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-'Ehe follow
ing was issued today from the state
Office CT! the Southern Cotton .isSo-
citation:
TO the Farmers Merchants and
Bankers Of South Carolina:
III view of the fact that cotton
upon which the prosperity Of the state
is dopendent--has fallen from 13
cents al The nprnin" to about 10
cents today. and its tendency seems
still l"wnw!ard. deem it my duty as
secretary Of thc Southern Cotton As
sociatinn, 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; II loss Of $15 to the bale,
or in case the State of South Carolina
makes 100000 bales of cotton
$15,000,000, far more than the assess
ed value of the property of most any
county Ill Inc STATE.
The decline in the price of cotton
can he partially explained by The cx-
traordinarily tight money market.
(which has been prevalent in certain
sections of the United States for sew
cral 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 thai 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 i!
for sale under these circumstances is
but to assist those who are hammer
ing 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 Il traitor to
his country: his position is that of the
contemplate East Indian who allied
himself with The English to shoot
down his own people and assist in
conquerin@ his own country.
For lhc producers to have a voice
IN flNin" The price Of his product is Il
proposition so fair. so just and so
equitable that no right thinking per-
son can "l>nose il. That is all the
Farmers desire or hope for. We are
passin" Ihrou"h Il crisis in The his
''ry of the south. If lis 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 o1eshc United States, but we must
make this fight upon our own resour-
ccs. In fact, il is thc policy of those
high IN the financial world to dcprcss
the price Of cotton in order that The
foreign consumer may bring his mon
cy and purchase the cotton in the
south and relieve the financial situa-
ton in Wall street.
They tell It's that the farmers Of
Texas are demoralizcd. I have be-
fore me dispatch from the Farmers ,
Association in Texas to The effect
that 'hrr arc not selling cotton, but
eHncf u I'd to the last ditch.
NCu "2"MOt help Che situation by
sellin" your totton: the only thing
yOu can do is to withdraw every bale
Of cotton from the market until its
downward course is checked. The
mills actually need every bale you
produce. and if you are loyal to your
self and to the best interests of the
south you will hold your cotton and
receive better prices.
Francis Fl. Weston, Secretary.