The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1910-05-03
THE FIGHT AGAINST
THE COTTON GROWER

out the world using American cottun.
It will generally be accepted tna'
Mr.. NIAGARA certainly represents 10y
SINNERS of Europe. AS to WhetneT
he renresents the spinners OF the
Tinted states, as he claims, It may
he well 10 bear in mind that the Man
/ chester Guardian Of SepteTnp per 20
1909. published kilograms passing Dc.
tween Mr.. NIAGARA and the ArkWrisH
club of New England, indicating mar
monr and cooperation Of the mem
bers Of the Arkuright Club, WnlcH
/ sDeabs for many Of the great cottoH
mills OF Ney England. Inc ieH,iie
Mercury of Manchester, OF NoSefnDef
20, published kilograms passing pc
tween the American Cotton Manu1ac-
! turers, Association of Charlotte ana
Mr. NIAGARA, indicating the same k1nd
of cooperation.
In an interview published in the
Manchester Guardian Mr.. NIAGARA, re-
ferring to the short time movement
| among the mills, is quoted as follows:
I sincerely hope that the efforts OF
the cotton s%pinnerS Of the world Will
be successful. The short-time move
| ment in 1904 a the effect Of re
ducing the price Of cotton from 80.
to Cd. a pound, though in that year
everyone knew that there was not
enough cotton to run ali the mills ana
tina short-time was an absolute neceS-
SilN Z - >N
if the cotton trade is to be rid OF TINS
terrible scourge brought about by
SPECTATORS. all the cotton users must
move together. IT is useless for indl-
vid uai employers or individual nations
to act alone
Such are some of the statements
| published by the Manufacturers Rec
ord in December last. when it called
attention to the joint effort Of the
%spinners Of the world to break down
the price of cotton.
In this connection the New York
Journal Of Commerce Of April 20
states the case very clearly as fol-
lows:
Now, SO far as The discussion
over the prevalent high prices con-
Germs cotton, there is no uncertainty
about their cause. The demand for
oshat commodity had become adjusted
to a supply that included $4,000, 600
bales or more from the American crop,
and in that Adjustment the price was
3 to 10 cents q pound, The crop Of
1S09-1O proved to be ahout 3,0Q0, 600
bales short Of that of the previous
year, but there was no corresponding
shrin q in the demand. There We're
no less cotton mills and machinery in
Lancashire, on the Continent of
Europe, in New England or il our
Southern States than before. In fact,
there had been a continued increase
IN these under the stimulus of abund-
ant material and a moderate price.
Nor were there fewer consumers of
cotton goods or a lessened demand for
them, and only the pressure of scar
city and increased cost was likely to
reduce the demand What was to be
expected under such circumstances?
The competition for buying cotton
While it was to be had necessarily put
up the price, and as the crop year ad-
NanGa1 into 10JA ur:th fh1 ~,r.l-
lessening all the time. there was no
occurs for mills except to begin
reducing their output. More cotton
could not be made until a new crop
was grown. the supply could not last
at the normal rate of consumption in
other years and there must be cur
tailnlent. and even then the price
would keep up under the pressure of
buying competition for the mills.
Furthermore, the price for finished
goods would not keep the pace and
consumers could not buy on the Gus
tomary scale any more than manu-
f~acturers could keep up their ordi-
nary output.
The situation in the cotton market
Is the result of ineNita bic conditions.
1rauers nave had to make their cal
c~uiat1ons accordingly. and long-sight-
ed spectators have taken advantage
OF the situation. Those against whom
thus movement is made bought last
TAU for delivery in March, and they
say That they received and Skinned
many 1housansd OF bales. They have
bought for May and July delivery. and
avoW h Intention of receiving and
deflveTing according to their contracts
ana no of cornerinE the
ma-ket or monopolizing the SUNNY
The government can hardly prove an
~intgntion Which they disavow and mn
less 1t can prove actual monopoly or
attempt at monopoly in what has
been already done. it is hard 70 coo
how It can make out a case. II MAJ
disturb the market and dcranga ca~-
culations; it may afford some relief
to those who have i1nprudentlv sold
short and can only deliver at a loss.
in other words, It may be a factor IL
he speculation, but tina it can ac-
complish any benefit to the spinners
or to the consuming public does NOT
seem at all likely Is tho Dana-