Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1912-05-12


That is in Itself a final answer TO all
the pesslmists who In the imaginary
deterioration Of seed, IN the real dan
ger OF the boil weevil, In the increased
demand for labor, saw, or al least
thought they saw, certain decline in
cotton growing 10 the disadvantage Of
the south, and 10 the great injury Of
nll the business interests OF the world,
As a matter OF fact, cotton is more
essential TO tho rest OF the world than
II is to the south. The south itself
could cease TO produce cotton and still
grow rich on diversified agriculture
and lis limitloss manufacturing potet-
tialities. But take from the world the
south's cotton crop and every business
interest on earth would be affected,
and Industrial depression such as civ
ilization has not known would CONF
upon this country and Europe.
The south raised too much cotton
last year Tempted by the good
prices Of several preceding years, the
formers Of this section planted too
large an acreage. Too many Of them
bought mules ana fertilizers ana agrl-
cultural implements on credit In or
der to concentrate their efforts upon
cotton growing and increase their own
acreage. To many individual farmers
the result was disastrous in that those
who had bought live stock and imple-
ments at high prices and on credit
could not produce the cotton at a price
al which IL had been selling. But,
broadly speaking, the whole south
will be benefited. Ii viii lose some
thing, very much In the aggregate, by
the lower price of cot>1n, as compar-
ed with the preceding year. In part,
this loss is a loss of paper profits, a
loss which the margin trader In
stocks loses when he has figured an
| imaginary profit because of a rise in
stocks that he is carrying and finds IL
suddenly wiped out by a sudden de-
cline And yet there has been real.
substantial loss because the south, by
reason Of this enormous crop, has hao
to sell its cotton at less than its intrin.
sic value and less than it ought 10
have commanded in the worlds mar
kcts. Considering, however, the mag
-nItude Of the crop, 1t is indeed surpris-
ing that the price was not pressed
down to still lower figures by the very
weight of such record breaking sup
ply. If the west could in one yeal
produce so great a wheat crop as to
give to the country yield Of billion
bushels as against a yield of ESQ.,
0Cc, 900 to 700,000,000 bushels, the
whole financial world would be eager
Is telling about the vast wealth that
this would add to the west, and the
western people and the western pa
pors would be proclaiming throughout
the land the worth of such a stupen-
dous yield, even though the price
might be much less por bushel than
that Of the average crop. Instead
OF the sotuh bemoaning the produc-
tion of this great crop because of
lower prices, it should herald broad
cast throughout the world this enor-
nous yield as indicative of its cotton
growing potentlalities, of what it car
do when put to the test, and thus
command the widest and most favor
able discussion throughout all the bust
ness circles of this and other lands
That any one section on earth has
such crop of such commanding,
worldwide influence, a dominant fac
tor in the finances and commerce
cnd industrial affairs of all the world,
a crop of 16, 000,0 600 bales; crop that
means an ample supply for all the
81 indies of this and other lands;
crop which has given to all the 500
cottonseed oil mills of the south "A fun
supply Of seed; a crop which in all its
ramifications affects every business
of the world; crop which even at this
years prices, when seed are included,
should possibly bring the south ST.
060, 100000, gives to that region power
and influence greater than that pos.
sessed by any other section of the
world through any crop.
Upon this cotton crop depends the
stability of the financial interess of
the United States, for without the
$500, 000, 900 a year which cotton
EIlngs back from Europe to this coun-
tIA the balance of trade would always
be against us.
Upon this crop depends the indus
trial activity of the country for with
cut cotton there would be stagnation
IN many thousands of mills, with all |
the consequent destruction of capital
and unemployment of labor.
Without this crop the spindles of |
Europe would be idle, and the 10000 |
ot0 or more people in Europe who are |
dependent upon cotton -manufaettk
ing interests would suffer as they did |
during the desperate cotton famine of /.
lS61-1S65, when Manchester knew I
poverty and wretchedness fromS lack /
OF the south's raw material. suClf as (
probably no other great manufactur- /
ine center Of the kind ever had to en-
dure.
Well may the south. IN the light Of (
these facts, rejoice in~all the good fea-
tdres Of this enormous cotton produc-
tion Wen may it use this crop as "a
proof 10 the world Of what 1t can do
on the other hand, now that it has
given hiz ADMINISTRATION of it's cotton