The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1908-04-25
BY II. z. BLAKESLEE, Jackson.

Anent the recent letter of Presidenr
Hightower of the Farmers Union
wherein he took to task the bushes.
and financial interests of the South fol
the lack of interest and support of the
farmers in their effort TO hold cotton
for a reasonable price. Mr.. Edwin Leh-
man Johnson of Memphis, who has
made a life study of such problems,
writes as follows:
81 have read twice with great pleas
ure and interest your open letter of the
Goth instant TO a banker and published
in yesterdays News Scimitar. That
part which l 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 not 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 discourage the planter from getting
it.
1t so happens that I have just COM
pleted my annual review Of the cotton
Oil situation, copy of which | enclose
yOu, and its remarkable similarity to
the present situation of cotton struck
me at once. In my review of the cot
ton oil situation. | argued that mas
much as about 90 per cent of the cotton
oil crop had passed out of the hands Of
the mills with six months of cotton oil
consumption ahead of US before new
oil could come to the market in any
quantity, that 1t would he idle to OK
pect any marked advance in cotton oil
at present, but that such an advance
would come was inevitable, owing to
the fact hat every gallon of oil that
cOuld be made this season would, owing
to the short crop, be needed and pur-
chased at a high price before this sea
son was over if it could not be had at q
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 sea-
sou and the first part of next. If it we're
simply held back until actual consump-
ton caught up with the excessive
quantity which has been sold to date.
II do not believe there will be any
actual decrease in consumption Of cot
ton goods this season, because people
do not in hard times economic on ne
cessities, but upon Injuries, and with
few exceptions, articles made of cotton
are necessities and not Injuries. Less
OF both cotton and 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 y
usual to get the full value for it. that is
al. The cotton in the planters hands
undoubtedly 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 harder and longer than
usual to get their money.
you are far more temperate than |
would he under similar circumstances
in critcising the South for its attitude
toward cotton and the planters. How
ever disaifectcd many in the South may
be with the planters for their attitude
the exchanges and futures, the
South cannot afford to let INV such
interfere with the fullest, most
active and persistent support OF the
value of the staple itself. 1t would De not
merely the worst kind of folly, but also
the basest sort of ingratitude and trea-
son for the Southern people willingly
10 let cotton decline for any such pur-
pose as teaching the planters q lesson.
II organized holding movements fail.
we enter again upon an era of scent
and all the value of long and
hard years Of work will be lost. We
,annot start a panic in cotton and check
t rs has been done in stocks. If our
our planters lose confidence in their or
then the cause of cotton is
Ost, and too late the South will realize ,
hat in teaching the planters a sup
)Oscdly needed lesson, she has lost her ,
nance to control forever her own rich
st arc most valuable source of wealth. .
"The work you and your O~rganiza- =
ion have done in this panic year in re- =,
tOring confidence to the financial
in preventing the breaking of :
southern banks and Southern mer- ,
hants, is something for every South E
rner TO be proud of, something which =
C cannot and should O forget, some ;.
hing which he should return in kind
Ow when you need every Southerner's
clip. l say, God bless you and your y
rganization. He is on your side be- G
ause you are helping yourselves and l q
elieve that you will win and see 12I- E
emit at least before this season closes. If o
re use of this letter and such arguments z
l have used in dealing with the cot =
N oil situation will help you and your {
luse, you are at liberty to use them in e
ny way YOU may see fit" y
The citizens of Bonneville and Prem
SIS county have raised $40. 900 for the 81