Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1908-05-15
ADVICE TO FAn....RS.
Mr.. Wlloughby Reasons Why Cotton
Acreage Should be Reduced.

Acreage Should be Reduced.
Newberry Observer.
Last week we solicited the bankers
to assist some Of US in holding a rem
nant Of last years crop Of cotton un-
til needed by the spinners. We now
have an abundant proof that the
bankers and the merchants are quite
willing to do all they can for us. We
must not, however, expect much as
sistance from this source for southern
cash capital is greatly limited.
We are up against trust founded
fOrtyfive (45) years ago, which has
managed to grow steadily without let
or hindrance. Among other things, 1t
has absorbed, or at least obtained, a
controlling interest in most of the
cotton mills, both in the north and in
the south. 1t has forced a pool not
only with regard to the purchase Of
cotton. but also to the output Of the
mills.
In reOrganZing in about 1900 the
mills were required to turn into the
hands Of New York commission
houses their output. Some Of you will
remember that the Darlington and
Laurens mills Of this state fought this
part of the pool in the courts and
lost Since that date the prices Of the
manufactured goods have been fixed.
Likewise there has been no competition
in the sale of cotton. The army of men
employed as buyers have represented
different grades only. which they
have been required to assort and ship
under daily telegraphic orders.
1t has required the government to-
bear the expense Of obtaining and
publishing weekly reports Of the pro-
gress of our cotton crops also to OBJ
tain from the ginners the bales of
cotton ginned, and publishing semi
monthly reports, thus placing. in the
hands of this trust the most accur-
ate information possible with regards
to the quantity of cotton in our hands.
On the other hand, it has left the cot
ton growers at sea as to the quantity
Of manufactured goods being stored
away by the trust, from which it is
today supplying orders, while bearing
the price of cotton below the cost of
production.
In view of these facts, it would be
suicide for any farmer TO produce
more cotton this year, than he Is able
to keep on hand for a period Of at
least one year
1t would likewise be criminal on the
part Of a southern banker or mer-
chant, to, knowingly, lend aid to the
farmers who would import meat, corn
or hay to enable him to make large
cotton crop that must be forced into
the hands of this trust before IT IS
needed for use by the spinners
Remember. we have this one trust
to price and store our cotton, and this
same trust to price the manufactured
goods.
We have but one choice which will
enable us to avoid the grasp OF this
gigantic trust; namely-to reduce the
production of cotton so as to make 1t
our surplus capital. without which we
can live until the mills call on us for
it, and compete for the different
grades as we do in the commercial
world for the merchandise that we
buy. Therefore let us price our cot
ton and place it in the hands of heav-
lily bonded warehousemen, who are
instructed to hold it until it is needed
and brings the price.
The cotton being forced on the mar
ket below the cost Of production to-
day, was produced by farmers who
neglected to produce at home, sup
ply of meal, corn and hay.
T. G. Willoughby.