The Nevada County picayune., 1908-10-29
me rol'y of the Southern peo,,.

| ;n.,. N" uduy people to :, '''0 lhto the cause of the condi. 'ioiis here Cotton being the basis of ne@rIy all prosperity in the Sonth ws n ''"' ''ily iook with a jealous eye on 'Ne huctuation In price, adding to or '"Nl's from it's value many nilliors 'l aoIIars. often in a single day Why @nouia It be worth $10.0O0 GOO more or Ie'S today than it was vesterdavq Every business man in the Son+b wbor D'N7u 'he cause will tell you that 'P7culatlon did it. When asked how 'peCulatlon can add to or take millions VI "eaJth from the people in so short tiIne only one in a thousand will ho aote to talk intelligenuy about the ho"S and the why's. This lack of i'm 'ol hiatIon and careful study on the part or so many of our people is large y responsible for much of our trouhla manipulation fixes the price of cotton under the present system of marketing A re" individuals who dominate the eAehanSes can subtract million. from the value of our chief commodity ot "l1. Publlc sentiment in the South however, Is a very important factor in hdfket values. Public sentiment is the heayy artillery with which the ex ehahgeS Lombard the market They aare not run counter to this sentiment very long. The first thing, therefore undertaken by the manipulation in a pear raid on the market is moulding ol pesslmlstic view as to trade con dltlolS and the constant agitation of the bumper crop idea When the South IS thoroughly saturated with these Ideas they raid the exchange markets, pfeak the price, and public sentiment In the South allows the spot market here to follow, not so much because We nave to, or because true conditions justify it, but because a pessimism possesses the people and they become panicky and sell, and the selling sus- talns the fictitious price caused by the bear raid on the exchange market.
 Thus a manufactured sentiment costs the South millions of dollars every year. Thus sentiment fixes the price of cotton. Thus sentiment pre- vents the carrying into effect of the only sane method of marketing cotton that is to feed the markets of the world as the world needs the cotton. What of the Southern man in any calling who talks down the price of cotton and contributes his share to lower values2 He unWittingly plays the role of a traitor to his country, 10 his neighbor and to his home What builds boom towns? Talking them up. What causes runs on solvent banks? Talking them down Talk by South. ern men has the same effect on cotton values and costs the South millions every day.
 The drummers of this section are q powerful factor in moulding senti- ment, May I not appeal to them to change their tactics? Better prices will give you better business; maybe not this month, but eventually it will all come back with interest. The bankers position gives weight to what he says May I suggest to you, Mir. Banker, that S10 per bale to add to our cotton will increase the bank de posits of the South $100000,000 and you get your share of it. Mer- chants are a factor in moulding pub lie sentiment. May l remind the mer- chant that one-fifth added to the value of our cotton will increase his trade in the same ratio. Why not boom the price of cotton like you would boom your town or your business? Both de- pend on cotton. I suggest that every business, professional or commercial organization depending on cotton for it's prosperity hold meetings and at once in it's own way begin to boost cotton.
 have made a most thorough in vestigation of crap conditions. and based on these investigations I am pre- pared to say that all crop estimates is- sued to date are unreasonably high. The crop will be a very short one. Even the preacher can tell the truth and help collect his salary at the same time.
 C.. R. HIGHTOWER, Secretary Farmers Union National
 Cotton Committee.