The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1909-10-23
LET HIGH COTTON BE THE SLO.
GAN.
South Has Opportunity to Benefit
Greatly by It's Monopoly of Cotton.

Discussing editorially the cotton sit
uation. the Manufacturers Record
says:
Unless all sources Of Information in
regard to the cotton crop are thor
oughly unreliable. the yield this year
VIII be very short. Considering the
rapid increase in the worlds con-
sumption Of cotton even during such
a period Of depression as that of
1907-1s0S. 1t may be accepted almost
without question that with the won
derfuf prosperity which Is now COM
ing upon this country and which from
this country will spread more or less
to all other lands there will be a
great increase in the consumption Of
cotton goods. The very general claim
made by mill owners that higher
prices will lessen consumption may
prove faiiacy. Last year 1t was very
dihicuit to find q market for 10000
900 tons Of pig iron when iron was
selling on the basis of $40 to 31l in
Birmingham. Now the market is
consuming pig iron at the rate of so,.
100000 tons. though prices are on
tho basis Of 416 at Birmingham. With
double the production OF last year
now going on. with prices at an ad-
vance OF about 50. per cent, buyers
are eager for iron which last year
they we're unwilling to accept at the
lower prices and while production
was inst about one-half Of what It is
now. 1t Ii. therefore, not altogether
safe for spinners to count on a re-
duced demand for cotton goods by
reason OF higher prices Of the raw
material. II general business revives
commensurate with the revival in the
iron trade, and II seems that this is
absolutely certain, then the world will
be ready to consume all the cotton
goods that can be produced out Of
this years crop, even though prices
for the raw material should rule
higher than at present.
The English spinners, as usual, are
playing . very shrewd game. Some
years ago leading cotton manufac-
turer In the South wrote to the Man.
ufacturers' Record. that he was op-
posed to any invitation being extend
ed the spinners Of England to visit
this country, because. said, he, they
are the ablest merchants In the world
and he was opposed to their gaining
by personal study any knowledge of
the cotton conditions In the South.
He did not want them m competitors
to any greater extent than they then
were. and he was afraid that a visit
to the South would enlarge their
knowledge Of cotton production and
cotton manufacture In this secr,on.
The English spinners, however, are
shrewd enough to thoroughly under
stand these conditions without a per-
sonal investigation. They and the
spinners OF the Continent are making
great outcry at present about the
high price OF cotton and are endeav-
oring to induce the cotton spinners of
the world TO curtail production in or
der to force down the market for the
raw cotton. or to force up the market
for cotton goods: but. while doing
this they are vigorously at work
buying cotton as rapidly as it can he
had. American mills. on the other
hand. are limiting their purchases,
hoping to secure lower prices.
Considering the decrease In the
yield. prices which ordinarily might
be counted as good, would this year
be disastrous to Southern farmers as
whole. In some States. especially
the Carolinas and Georgia, the crop
Is fairly large. and the growers in
these sections will be enriched by the
nigh prices due to the shortage in the
southwest. Taking the situation as a
whole. however. 1t ought to be the
aim of cotton mill people Of the South,
as well as of every business man in
this section. to do all in their power
to secure for the benefit of the South
a high range of prices. The policy
which would attempt to force down
the price of the raw staple is unwise
from every point Of view. So impor-
tant Is cotton in the trade relations of
this country and in our financial rela-
tions with Europe that every industry
In the country is benefited by the
prosperity which flows from the pros
perity OF cotton growers; while many