The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1907-03-05

wv DdIcS. vi IuIS thC SCohACI IL II
consumed csc, 900 bales or 7.59 per en-.
The crop of 1904-05 was 10 SGT, 900 bales
of which the south consumed 2lG4.o 900
bales or 1896 per cent. Of the estimat-
ed crop of 5000, 900 bales for the pres
ent crop it is predicted the south will
consume 100000 bales or 1872 per cent.
This shows how rapidly the cotton
manufacturing industry is forging
ahead in the south. OF the present crop
she Will consume an amount equal to
nearly % per cent. of the r OF 1872
against 7.59 per cent. of tina croD in
that year. The cotton crop for the
year 1856 was 7,i47.OOO bales and it
was sold at an average price of : -
cents. The crop of nearly twice that
amount has been nearly all marketed
at an average Of about 10 IL cents.
This does not look like the soutl is
III danger Of OVERRIDING cotton produc-
ton or hat she has reason to fear out
side competition in its manufacturing.
IN a recent circular issued by Tbeo-
dore Price he says that there IS no
other single product of labor as essen
tial to civilized humanity as cotton.
and the increase in demand for it is CO
extensive with the spread of c~iviiiza-
tlOn, industry and wealth; there is,
in consequence, no article Of commerce !
that is as promptly and as easily cx-
c~hangeable for gold as is cotton. AMI
he quotes Henry Grady's statement
that 1T is gold from the instant hat
it puts forth its tiny shoot.
Mr.. Price at tributes the rise in the
price of cotton greatly to the wonderful
increase in the production of gold in
the last few years. He says that the
increase in the purchasing power of
gold anticipated as a result of silver
reconciliation has so stimulated gold
production that in 1906 the amount was !
twice as much as in 1896, being $780,
100000 as against $500, 600, 900: that
since 1895 there has been produced and
added to the worlds supply Of gold
$3,319,O 600, 900, and he states that lv
1910 the world may be producing $780,
100000 in gold annually. To show how
enormously b annual production has
increased in late years it is only neCes-
sary TO compare the above figures with
the total production for the 400 wears
from 1892 to 1892, which was but SIS
10, 900, coo. With this increase in the
supply Of gold the cost of food and i
as expressed in the terms of
gold, has advanced and must continue s
o advance as ioas Is gold production
to increase, and Mr.. Price
argues that this advance in the gold y
of life's necessities will be the 7
most apparent in those things FOR .
which, like cotton, no cheaper substi- S
tute can be founa and t which 70 c
saving machinery has been an d
lied that reduces the o of h11- "
ian energy required for its production. y
Mfr. Price predicts that the "~inffatio, :.
our gold standard is progressing at +,
rate that will ultimately lead to the a
Iemonetization Of gold as a measure of s.
'alue, but before that is reached the CT
nhatiOn of gold will drive prices 10 II
that will make cotton at 20 IL
ents a pound and corn at 80 cents a :"
ushel seem reasonable.
Mr.. Price calls attention to the fact ~
hat some W years ago he wrote that N
time would come when an Amfri- ST
an crop of 26,O 600, 900 bales Of cotton
'Ould be viewed without alarm as no ia
han equal to the worlds reo,iire-
1ents, and he says hat already we r.
aem to be in measurable distance Of Al
lie time when $4,000, 900 bales are a ell
eCessity. st