The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1910-10-19
IT MEANS LOSS
Farmers Are Urged Not to Sacrifice Cot
ten On The Market.
WOULD LOWER PRICES

President Barrett Declares that Ten.
dency to Sell Product Too Early
Causes Prices to sag Downward
Believes that System Of Bonded
Warehouses Will Solve Problem.
Farmers of the United States are
urged not to sacrifice the cotton of
this year by marketing it too early,
in a statement issued by President
Charles A. Barrett, of the Farmers
National Cooperative and Educa-
tional union. The statement of Pres
ident Barrett follows:
1t has been for a number of years
the practice among southern farm
ers, either through ignorance or in
debtedness, to sacrifice larger or
smaller portions Of the financial re-
turns for their cotton to which the
real value of the staple entitled
them.
Rushing the staple upon the mat
ket the moment it left the ginnery
regardless of the range Of prices,
they have been paid in whatever fig
u1e vas ruling at that particular
tire, without reference to the bone
fde laws Of supply and demand.
In itself, the custom is and has
been a factor for depressing the mar
ket since it congested the staple and
operated to drive prices downward.
It would take an expert statistic
ian to estimate the loss from this
source since the civil war alone.
And when you speak Of a loss to
the southern farmer, you mean also
a loss to the southern business man
and to every channel of southern
commerce and industry-for whatev-
er affects the welfare Of the man
Of the acres affects also the welfare
Of every other man, woman and
child in Dixie.
Farmers of the Southern States are
this year in danger Of repeating the
old blunder. In a great many local
tiles, the tendency to hold cotton for
a price commensurate with its worth
is noticeable. -
But in a few other localities, the
fiber is being rushed on the buyers,
with the inevitable result that where
ever this occurs the price Says down.
ward and the grower is not receiving
the figure that represent the value
of the staple to the world of o n
sumption.
do not insist that the farmer hold
his cotton where his debts are of d
very pressing nature, and where he
can liQuidate them in no other way
than by disposing of his product.
But l do desire to impress upon his
mind. the desirability, in justice to
himself and his family, of making
an honest effort to borrow sufficient
money to tide over his immediate
obligations, to the end Of keeping
his cotton we'll in hand until the
market responds to the bona fde
value of the staple.
In a great many town in the south
We have made this possible through
our warehouse system. Each year
the system makes greater strides
and enables us 10 extend accommo-
dation to a larger number of mem
bers. .
! look eventually for a system Of
bonded warehouses, under control Of
our people. to SO permeate the cot.
ton belt that the smallest as well
as the largest farmer will be enabled
10 hold his cotton without prejudice
to his pressing obligations. We have
found, in several states, that where
the staple is placed in a warehouse
properly secured, there IS little diff
ficulty in borrowing upon it all the
emergency money needed for its
owners.
Where farmers cannot have &C
cess to one of these warehouses or
where conditions are such that they
find it impracticable to obtain loans
on their product, I advise that they
sell as little of the staple as posi-
ble-just enough to pay off the debts
that may be pressing for settlement.
The remainder should be held, until
such time as it can be disposed Of
at a figure in harmony with its worth
to civilization.
You can be very sure of the fact
that if you do 0 secure the price
your cotton really is worth, some
other factor will do so. Most likely
it will be the Spectator, and If nor
the Spectator it will be the mill,
and if not the mill, then the middle
man between the mills and the ul-
innate consumer.
You will save nothing to the world
by sacrificing the cotton you have
brought forth with so much effort
and application. But you will lose
a good deal to yourself, your family
and to the south.
| urge that at this particular sea-
son. while the necessity of marketing
COTTON in A scientific instead of a