The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1911-09-26

Two Million Bales Less Than When
Il 5000, 900 Bales Was Expected
He Urges the Farmers to Hold Cot
ton and Says All Interests in the
South Should Work Together to Get
Fifteen Cents for All the Cotton
Grown in the South.
Mr.. J.. z. Green, State Organizer OF
the Farmers Union, was in Raleigh
yesterday on his w to Lucama, Will
son county, where he will address the
farmers Of Wilson county today. From
that county he goe to LenOir county
to address the
Asked about the cotton crop and
the hope Of getting fifteen cents for
cotton. Mr.. Green said:
"Speculators who sold the price Of
cotton down to eleven cents under
the premature government estimate
that indicated a ffteen-million-bale
o are going to stay on the bear
side Of the market for some time to
come, because that is the side of the
game they nave staked their money
on, and they will be wise enough to
stay there until they win. After the
distressed cotton is all sold these
same spectators are going to play
the game On the other side OF the
market and the cotton merchants who
are buying the scared cotton will
join the gamblers in cotton futures
and boost the price.
Notwithstanding late government
reports and estimates indicate two
million bales less han was indicated
in the first report, cotton is now sell
ing at the low level to which the deal
ers in futures sen the price under the
bumper crop estimate. h present
ridiculously low price Of cotton could
not be maintained at any other sea-
son except during the debt-paying
period, and nobody knows this better
then those who max their millions
through abnormal fluctuations in the
price Of cotton, produced by market
manipulation.
while the lien and mortgage cot
tor is going on the market rapidly,
as it always does at this eason in
telligent and well-to-do farmers are
beginning to quietly buy cotton from
tenants and renters to hold for the
better prices that are bound to come,
and Will come, unless we are visited
by a panic which doe not seem
probable now. The organized farm
ers watch crop conditions, and also
h market conditions, very closely,
and when you see farmers themselves
buying cotton to store back on their
straws are leaning. With cotton now
on the basis Of a Observation-Disclosures
o when later conservative eSti-
mates are close around twelve million
bales, and this following two preced-
ing abnormally short crops, and with
the population of a consuming world
growing rapidly, it isn't any wonder
that far-sighted, Intelligent farmers
are temporarily converting themselves
into cotton merchants and are taking
their surplus out of the banks and
investing it in cotton. It looks like
a mighty good time to invest money
in spot cotton.
The cotton question is a Southern
question. In this product nature has
given US a practical monopoly, and
Southern prosperity as a whole de-
Ponds upon the price Of cotton. and
the business man. or professional
man, or the real estate nan, or the
banker who does not feel a personal
interest in the price of cotton is GER
tainly a short-sighted individual.
And I might go a little further and
say that the Southern nan who re-
fuses to fight for the price Of cotton.
In every legitimate manner possible,
has a limited conception of true
Southern manhood, and Southern pa
triotism, and Southern loyalty.
after two years of 15-cent cotton
it Is idle to contend that the South
is not able to finance the cotton crop.
if Southern bankers and business men
will use creditable business discretion.
The distressed cotton that is now
going on the market at less than cost
of production ought to be bought by
Southern men who are able to hold it
until the market gets hungry enough
to pay a fair price for it.
Farmers Union men are not dis
h~eartened or discouraged with this
temporary reverse. All great move
ments thai have had for their object
the uplift OF the toiling masses. have
come to hard places along the way
1t only serves TO nerve us to stronger
effort. and We have every reason Tn
believe that We are going to see *
cent cotton before all thu nro.a..l