The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1907-10-16
COTTON PRICES.
Ex-Gov. Heyward's Address to
The Farmers or the
COTTON SITUATION.

He Thinks That All Should Stand
Together for Higher PriccS-Gives
Much Valuable Information on the
Cotton Question, Which Will Prove
Interesting Reading, Not Only to
Farmers, but to All.
EX-Gcv. Hayward was II of the
principal speakers at a farmers con-
vention held n Orangeburg recent
ly. The meeting was held for the
purpose of considering the cotton sit
uation and this subject was thorough
ly treated by the former governor.
He said: ..,
est to the cotton planter today, his
crop being practically made, is the
question of price. In this he not
alone is interested. The whole South
is equally interested with him in the
productop and marketing of the cot
ton crop, because this crop is today
our most important industry, con-
tributing as it did last year $S0O,-
0O0, 900 to the business of the South,
$500, 100000 of which came to us
as a result Of exports.
The producers of cotton realize the
fact that in this question or price
more is at stake today than simply
the one crop of this year-that a e
period in the industry is being en-
tered upon and a new basis OF values
determined. Economic conditions are
such that the period of low values
which have recently prevailed is no
longer possible. A new commercial
basis Of value must be agreed upon.
We are In what might be termed a
transition state because of the great
Quotations in price. which are the
tendency OF the day, prevailing last
wear to the extent of 25 per cent.
What the farmer wants is not only a
senumerative price, and tc this ne is
Justly entitled and he has a rlgnt
TO demand, but he also wants that
price as staple from year to year as IL
is possible to make it. In determln-
ing what that price shall be TWO I'M
portant considerations must be insist
ed upon-one as important as the
other to the producer. The price
paid. must yield a fair profit to the
nroducer, but it must not be so hlgh
that 1t will in any degree check or
curtail the wonderful increase in the
consumption of cotton which has
taken place during the last ~ years.
for if it does disaster Will follow.
Three Facts Established.
.Three facts have now been IN
disputably established in connection
with the cotton industry and these
mean everything to the grower OF
cotton. The first is that the South
has a monopoly the world over in the
raising of cotton; the second, that the
consumption of cotton is increasing
wonderfully each year and the thlrd
that the South has the ability to keep
pace with the increasing consumption:
These three circumstances complneo
mean that the South will be the rich
est and the most prosperous part OF
the greatest country in The world.
I'm order not to be dependent up
on the South for their supply OF cot
ton foreign spinners have searched
the world over for a source of supply,
and with what result? The only
countries which enter into competl-
ton with the South in the export OF
cotton are Egypt, India and Brazil.
Although cotton has been planted IN
Egypt since 1921 that country has
never raised more than 100000
bales, and that last year. The land
in Egypt adapted to the cultivation
of cotton is exceedingly limited, and
the quality Of the cotton raised does
not place it in competition with the
bulk of ours. India comes next to
us, but India consumes nearly all the
cotton she grows and will v be-
come a competitor in exporting cot
ton to Europe. Brazil, where such
efforts have been made to break the
supremacy of the South, produces on
1y 100000 bales. and the Brazilian
mills use all of this. Peru and Mex
leo have undertaken to grow cotton,
but it practically amounts to nothing.
So much for our monopoly.
OF the greatness and the impor-
lance Of this monopoly, a prominent
barker the other day said:
Bring me all the grain, all of the
provisions, all of the foodstuff, all of
the steel. and all Of the iron of the
At States of this great union, which
was exported last year, and I will sell
the cotton crop of 1907, and pay you
cash, and yet have money enough left
to capitalize 200 national banks
Consumption Of Cotton.
1.-THE next question which interests
is the consumption. Take a period
of 10 years. In this time the con-
of cotton in Great Britain
has increased 81 per cent. On the
continent of Europe % per cent.
GIN the Northern States Of this
country. once the only part of the
country where cotton was spun to any
extent. 3S per cent. and i'm the South
ern States 149 per cent. The demand
for all products of cotton. especially
cloth. is increasing and WIDEN
ing every day. The civilization and
evangelization Of the world means
the clothing of the world. The cot
ton farmer can know that when he
contributes his quota towards the
S21, 900 expended each year in
foreign missions that he is not only
laying us treasures in heaven but
that his own. will be returned to him
with usury.'
"And the world can never demand
more cotton than the South can sup
ply. Less than one-sixth of the land
in the South today is improved; and
less than one-half of that is planted
in cotton. Science is being applied to