The Kemper herald., 1908-04-23
FOR
GREATER
MISSISSIPPI

Anent the recent letter of President
Hightower of the Farmers Union
wherein he tock to task the business
and financial interests of the south for
the lack .of interest and support OF
the farmers in their effort to hold
cotton for a reasonable price. Mr.
Edwin Lehman Johnson of Memphis
who has made a life study of such
problems, writes as follows:
~ have read twice with great
pleasure and interest, your open let
ter of the 29th instant to banker
and published in yesterdays News
Scimitar. That part which / have
cut out and enclose leads me to write
to you. 1t is where you speak of the
undoubted fact that the people of the
South of late, have not only supported
the planters in an attempt to get a
fair price for this seasons cotton
crop as its limited size warrants, but
have actually attempted to discour-
age the planter from getting it.
1t so happens that l have just
completed my annual review of the
cotton oil situation, copy of which
enclose you, and its remarkable SIM
ilarity to the present situation, l ar.
gued that, inasmuch as about ninety
per cent of the cotton oil crop had
passed out of the hands of the mills
with six months of cotton oil con-
sumption ahead of us before new oil
could come to the market in any
quantity, that it would be idle to
expect any marked advance in cotton
oil at present, but that such an ad-
vance would come was inevitable, ow-
ing to the fact that every gallon OF
oil that could be made this season
would, owing to the short crop, be
needed and purchased at high price
before this season was over il 1t
could not be had at cheap price. The
cotton oil remaining in the hands OF
the mills, though only ten per cent,
would be sufficient to control the price
for the rest Of this season and the
first part Of next, if it were simply
held back It'll actual consumption
caught up with the excessive quantity
which has been sold to date.
"I do not believe there will be any
actual decrease in consumption of
cotton goods this season, because peo-
pie do not in hard times economize
on necessities, but upon luxuries, and
with few exceptions, articles made of
cotton are necessities and not luxu-
ries. Less of both cotton and cot
ton goods will be carried by the cotton
mills, which merely means that they
will delay purchasing cotton until the
very last minute. 1t will be merely
necessary for the planters to carry
their cotton little longer than usual
to get the full value for it, that is all.
The cotton in the planters hand un-
doubtedly will control the situation
and the price obtained for it will de-
pend solely on whether the planters
realize that fact, and have the grit
and patience to hold l..ider and long
er than usual to get their money.
"You are far more temperate than
would be under similar circumstan-
ces in criticising the South for its at
titude toward cotton and the plan
.ers. However disaffected many in
the South may be with the planters
for their attitude towards the ex-
changes and futures, the South can
not afford to let any such feeling In
terfere with the fullest, most active
an persistent support of the value OF
the staple itself. 1t woul be not mere
ly the worst kin of folly, but also the
basest sort of ingratitude and treason
for the Southern people willingly to
let cotton decline for any such pur-
pose as teaching the planters les
son. If organized holding movements
fail, we enter again upon an era of
five cent cotton, and all the value of
long and hard years of work will be
lost. We cannot start panic in cot
tin and check it as has been done in
stocks. If our planters lose conf
dence in their organizations, then the
cause of cotton is lost, and too late
the South will realize that in teaching
the planters a supposedly needed les
son, she has lost her chance to control
forever her own richest and most val
liable source of wealth.
"The work you and your organiza-
tion have done in this panic year in
restoring confidence to the financial
South, in preventing the breaking of
Southern banks and Southern mer-
chants, is something for every South
erner to be proud of, something which
he cannot and should not forget, some
thing which he should return in kind
now when you need every Southerners
help. say, God bless you and your
organization. He is on your side be-
cause you are helping yourselves and
I believe that you viii win and see
While the State Live Stock Sani-
tary Board and the United States gov
ernment is engaged in campaign
aoa;pSt tha cattlo tick IN the Northern