New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-12-04
Daniel ]. Sully Says Conscience Cost Him Millions

Tinted states-rnore cotton goods than
We sell the whole Of Europe It's idiotic
Japan makes more money out of our raw
cotton than # makes OUT OF It's own raw
I silk Last year not an American shin
/ Ierr Savannah bound for a foreign port
/ 1876 foreign ships did. however, and earh
/ was loaded with bales % Georgia ana
/ Alabama cotton We freed the PhIIip.
pines. but our competitors sell The island
ers thirteen times more cotton goods
/ than we do The United States should
/ get ships. No matter how Then there
ought TO be government warehouses a.
/ that cotton may be stored-negOCiabIe "a
| ceipts being Overland held until The de-
mand Of the spinners insures the fa-me-
fair price for his crop"
Where is the price OF cotton made.
+ and by whom
up 70 the year 1903. except during the
7 Civil War in this country. the price was
coerced abroad. in England. BY British
spinners- Their best markets for cotton
goods were in warm coUntries-India es-
! peciaIIy. Their customers being or the
edge OF poverty. they were compelled 70
sell cheapIy. Controlling the market FOR
raw cotton. being the largest purchasers.
they kept the price down 20 our farmers,
giving them about four cents q pound in
the field for their crops on an average.
Since 1903. however. the law OF supply
and demand has regulated the price in
Egypt and America.
: is It true that cotton ulanutactu-srs
Ill
per cent 10 so per cent profit on the capt
tai they have invested 7 asked
NO. Taking the industry by decades
and as a whole I think the net earnings
OF our spinners will amount 70 about 5
per cent on their capitalization Vow
and then some mill viii make q Iot =
money. 100 per cent n a year, perhaps,
because the owners and managers had
the intuition 10 buy a large supply =
cotton in advance, OF because they had
some novelty. new fabric. that seemed
TO have the elements OF popularity, and
have found their judgment Endorsed ~
the public Il is such exceptional and
isolated cases that have given rUuOr .
abnormal profits in the cotton industry
There are 32OO0O60 acres OF cotton
lands in this country. The present weld
OF cotton only averages One-rhi-d of
bale 10 the acre. II should be one haIs
or one bale and half on 20O0OeOn
acres OF the area I have mentioned. and
it VIII be, by and by. when We better
our cultural methods The WELD Of seed
then viii he enormous. There ara 5fa
pounds OF lint and .on0 pounds o. saad
n every .-Ta pounds of cotton brought
n from the field Seed ranges II price
from 50 70 $50 a ton A ton OF wheat
a. 81 busheI is worth S23 The process
Of making cot-0nseed -four has not been
perfected. 0ut II has gone far enough %
show that such -four - 70 no one o. me
big industries OF our people"
What has become o. the boil veeVi-
that seemed TO threaten the t1Doverish-
ment OF the South a few years ago.
1T is now operating in Mississippi. and
Is, going eastward AZ the rate OF seventy
miles a year. Coming across the Mex
can frontier II did great damage in
Texas and Louisiana. Long ago 7 said
that il was not an unmixed evil. Texas
planters PUT more headwOrk into their
business after the appearance OF the
veevtI. They planted earlier and placed
their seed further apart. Weevu wan-
shade. and close planting was exactlT
What they required in their business
The pest has practically driven cotton
out u Louisiana. but the farmers sub
stitutAd corn. and are rapidly growing
rich"
Copyright. 1910. b James 3 Morrow