The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1908-10-30
The Folly Of the Southern People

'' "S''''''i III VIC oOElu iOr SeV-
eral years has caused man. yaoYra -
inquire into the cause Of tga ,ond;
tons here. Cotton being IT,. basis os
nearly all prosperity in the South We
naturally look with a jealous eve on
the fuctuation IN price. adli;n, n ny
taking from its value many millions
of dollars often in a single d4v Wby
should it be worth $4,000 Ola marc y.
less today than it was ya,ter5a,.o
Every business man in the South Whom
asked the cause will tell you thar
speculation did it. When asked how
speculation can add to or TAKE millions
or wealth from the people in 50 shor,
time only one in a thousand will l.,
able to talk inteIlgently about tho
hoWs and the why's. This lack If in
formation and careful study on tho
part of so many Of our people is large,
~ responsible for much of our ,ronhIo
Manipulation fixes the price Of cotton
under the present system of marketing
few individuals who dominate the
exchanges can subtract millions from,
the value Of our chief cOmmndi,v 81
Will. Pebble sentiment in tAp South
however, is very important factor in
market values. Public sentiment ;s
the heavy artillery with which the ey.
changes lombard the market, Thew
dare not run counter to this sentiment
very long. The first thing. therefore
undertaken by the manipulation in p,
bear raid on the market is mOuldnp
OF a pesSimistic 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,
break the price, and public sentiment
in the South allows the SPOT market
here to follow, not so much because
we have to, or because true conditions
justify it, but because a pessimism
possesses the people and they become
panicky and sell, and the selling sus.
tains 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
ut
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 values? He unwittingly PLAYS
the role of a traitor to his country.
to 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 a
powerful factor in moulding senti-
ment. May l 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 | suggest to you. Mr..
Banker, that $40 per bale to add to
our cotton will increase the bank de
posits of the South $1OOO0O,OOO and
you get your share of it. Mer-
chants are factor in moulding pub
lie sentiment. May | remind the mer-
chant that One-ffth 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. suggest that every
business. professional or commercial
depending on cotton for
its prosperity hold meetings and at
once in its own way begin to boost
cotton.
| have made a most thorough in
vestigation Of crop conditions, and
based on these investigations 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.
G.. r. HIGHTOWER.
Secretary Farmers Union National
Cotton Committee.
Union Not RESPONSIBLE for MINT