Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-09-18
HoV the War Affects Us.
xxvI.-More About Cotton
By Frederic J. Haskin.

\ By Frederic J. Haskin.
The ''buy-a- bale" movement undoubt-
eddy presages more encouraging sit
uation with respect to the cotton crop.
Cotton was hardest hit among all
American products by the war, on ac-
count of peculiar conditions heretofore
discussed in these letters.
The "buy-a-bale" movement is plan
whereby every man in the south who
does not produce cotton will buy at
least one bale from a producer and
hold it until market conditions are re-
stored. By this method the burden of
| carrying the unmarketed staple crop of
| the south will be spread over all
| asses of the population.
1t is not to be expected that more
than half a million bales will be cared
| for in this manner and the "buy-a-
bale" movement of itself may have lit
| tie material effect. 1t will. however.
bringing about the cooperation of all
classes of people in the south to stand
behind the planter and producer. Co
operation between buyer and seller in
,, the matter of sustaining prices is diff
cult to obtain and at best is only an
artificial accommodation. The cotton
spinner naturally wants to buy cotton
at a low price, the cotton planter to
sell at high price. Under the chaotic
conditions imposed by the European
war it is vitality necessary that this
struggle between buyer and seller be
ameliorated. Naturally. some banks in
the south are planters banks and some
are more closely connected with the
manufacturing interests. In such times
as these they must cooperate for the
common good. To bring about such
cooperation, in concrete and actual
practice, the "buy-a-bale" movement
will smooth the way.
* *
Cotton planters are beginning to pick
their crop, but they are two to three
weeks slow
Cotton Planters in the oper-
Picking Their Crop. the reports
of cotton ginned fall far below the
standard for this time of year. 1t is
discouraging, as one planter said, to
pick cotton that may never be sold.
And, of course, it takes money to pay
cotton pickers.
The cotton planter is not in the
condition of business man or food
stun grower whose business may
have been slowed up or delayed by the
war. Cotton selling has been paralyz-
ed. It is more like the stock and
bond market. With the exception of
few private sales, none is being
marketed.
The spot cotton markets Of the south
ern cities are doing a very little
business, and the low prices, some
times below eight cents a pound,
really represent desperate efforts to
start business and no more
In Liverpool sales are almost nil,
although a fiction of price quotation
is maintained. But English spinners
will not buy in any considerable guam
titles at this price. when they know
of cheaper spot cotton in America,
and think they may be able later on to
get new crop cotton at reduced prices.
The stagnation in the foreign ex-
change market affects the cotton trade,
of course. New
StagnatiOn Has York and Liver
Effect on Trade. deavored to ar
range method Of cotton marketing
on what is called a straddle basis. A
few thousand bales have been sold by
this scheme, but there are nearly four
hundred thousand bales of American
cotton now in Liverpool
The fact is that a practical embargo
is enforced against cotton by the in
ability of New York and Liverpool to
will move the cotton.
Despite the gloomy market condi-
lions, the outlook is better on account
of the improvement in the financial
and manufacturing situation at home
an Improvement that is as yet purely
= k~l
action.
The action of the Secretary of the
Treasury in arranging to give dis
countable status to paper based on
warehouse receipts Of stored cotton
was naturally the biggest thing of all.
1t has opened the way for the national
banks to take care of large proper
ton OF the cotton crop that must be
held over. The buy a-bale" move
| ment has extended the scope of per-
sonal participation in the holding.
A disposition to take care of the
planter wherever possible is to be
found in advertisements in southern
papers. One real estate concern Of
fers to take cotton in payment for
land at certain fixed price. A school
for young women offers to accept cot
ton warehouse certificates at $50
bale for tuition charges Such things
help to dispel the gloom, and to con-
vince men that perhaps after all things
| will clear up.
The manufacturing situation is also
good. The mills all over the country
| are operating
Mills Operating at fairly
| NJ high stand
A6 So''oH' ard. n d
southern mills are going at. full ca
pacity. They are not, it is true, buy
ing new cotton, as the difficulty in
price-hxing has deferred them. But
as long as they go on spinning yarn
they must be using cotton.
| The dye-stuff situation continues to
give trouble. to weavers, but it has
been suggested that the spinners who
turn the cotton into yarn should go
ahead as far as possible in using the