Greene County herald. (Leakesville, Miss.) 1898-current, 1908-10-02
COTTON VALUES
Tue Folly Of the Southern People

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The agitation in the South for several
years has caused many people to in
quire into the cause of the conditions
here. Cotton being the basis of nearly
all prosperity in the So.sh, we naturally
look with jealous eye on the fluctua.
don in price, adding to or taking from
its value many millions of dollars, often
ip single day. Why should it be worth
ten millions of dollars more OF less to.
day than it was yesterday
Every business man in the South
when asked the cause will tell you that
speculation did it. When asked how
speculation can add to or take millions
a wealth from the people in so short
O time only one in thousand will be
able to talk intelligently about the hows
and why's.
This lack of information and careful
study on the part of so many of our peo'
pie 10 largely responsible for much of
our trouble. Manipulation fixes the
price Of cotton under the present sys-
tenn of marketing. A few. individuals
who dominate the exchanges can sub
tract millions from the value of our
chief commodity at will. Public senti,
Uent in the South, however, is a very
important factor in market values. Pub
lie sentiment is the heavy artillery with
%hich the exchanges lombard the market.
&Hsy dare not run counter to this senti
Vnsnt very long. The first thing, therefore,
Undertaken by the manipulation in bear
raid on the market, is the molding of a
AeSsimistic view as to trade conditions
md the constant agitation of the
Bumper crop idea. When the South is
maruughly saturated with these ideas
kAey raid the exchange markets, break
tho price and public sentiment in the
South allows the spot market here to
Follow, not so much because we have to,
BE because the true conditions justify it,
But because q pessimism possesses the
people and they become panicky and
@ell, and the selling sustains the ficti
Sfous price caused by the bear raid on
Che exchange market.
Thus a manufactured sentiment costs
the South millions of dollars every year.
Thus sentiment fixes the price of cot
Con. Thus sentiment prevents the car
rying 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 cot
ton and contributes his share to lower
salues? He unwittingly plays the role
81 O traitor to his country, to his neigh.
Dor and to HIS home. What builds boom
6owns2 Talking them up. What causes
runs on solvent banks2 Talking them
down Talk by Southern men has the
same effect on cotton values and costs
the South millions every day.
The drummers of this section are a
powerful factor in molding sentiment.
May not appeal to them to change their
tacticsf Better prices will give you bet
ter 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, Mr.. Banker, that ten dollars per
bale added to our cotton will increase
the bank deposits of the South one hun
dred million dollars and you will get
your share of it. Merchants are a fac
tor in molding public sentiment. May
[ remind the merchant 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 depend on cotton.
suggest that every business, professional
or commercial organization dependent
on cotton for its prosperity hold meet
(ngs and at once In its own way begia
TO boost cotton.
have made a most thorough inves'
tigation of crop conditions, and based on
these Investigations I am prepared to
gay that all crop estimates issued to
date are unreasonably high.
The crop will be a short one. Even
the preacher can boost the price of this
crop. He can tell the truth and help
collect his salary at the same time.
G. r. HIGHTOWER,
Secretary Farmers Union National Cot
ton Committee.