Abbeville progress. (Abbeville, Vermilion Parish, La.) 1913-1944, 1914-10-10
LIGHT ON TEXAS
COTTON PROBLEM
COMMISSION KONE SAYS VALOR,
lzATION OF COTTON POSSIBLE.
Believes That "8uy-a-6aIe" Movement
Has Proved Practicability of Plan
in Lone Star State.

Austin, Tex -COmmissiOner OF Aga.
culture Kone gave out the following
Tuesday:
Can cotton valorizatiOn be accom-
plished by the people of Texas? An
affirmative answer to this question,
followed by concurrent cooperative
action by business man and farmer.
would settle at least the price fea-
ture of the cotton situation.
81 am satisfied they can.
THE 'buy-a-bale' movement has
proved 1t. Practically every bale pur-
chased under that hastily improvised
system was purchased at the price of
10c when the market selling price had
fallen below Sc. More than that, the
feasibility of cooperation between the
business man and the farmer, OF the
difficulties of which We have heard
so much, has been shown by the fact
that practically all the cotton chang
Ing hands under this system was dis
tress' cotton-owned, by tenants COM
PEELED to sell. The movement, though
less than a month old, is in full op-
Grafton throughout the cotton states,
not forgetting the fact that large
volume of Northern capital has been
| invested in it under holding cOndi-
tons. SO it appears that this 'buy-a-
Sbale' movement, under the concurrent
action of purchasers and sellers, has
'valorized' the cotton already sold, and
I ho &c hafnp
tenn.
"Why, then, can not the valorization
OF the nondistressed cotton be accom-
pliShed by the same means-the only
difference being that the sellers fix
the price instead of that price being
fixed by the buyer or by popular mu-
tual agreement as under the 'buy-a-
bale system?
THE first problem of the cotton sit
uation is the Withholding from mar
ket of the surplus, and this problem
gave impetus to the 'buy-a-bale' move
ment. But as distress cotton will not
absorb the sure surplus, something
must be done to prevent the market
| ing of nondistress cotton. II the own
ers or holders of that will only agree
to sell it to ,leet the actual CONNER
cial demand, they will have no trouble
| In securing the value price, which we
/ all know is above 10c. 1t would be as
easy, by this cooperation, to fix the
price at 10c or 121ac as at SC. In
view OF the fact, well known, that
the intrinsic value of cotton is
around 12kc, / can see no reason
why it should be depressed to SC I'M
| der conditions that must inevitably
/ Cypress all classes-farmers, bankers,
merchants and trades people.
at is significant that, concurrent
with the demonstrated success of the
! 'buy-a-bale' movement, the cotton ex-
! changes of the country, closed since
the outbreak of the European war, re-
/ sumed operations, fixing the price OF
/ the staple at Sc. 1t is a conceded fact
that exchanges operate only upon a
/ speculative basis, and surely they
/ should not be permitted to arbitrarily
| fix the producers price at below the
cost of production.
Another thing: Whether the mar
| ket is glutted with sacrificed cotton
or is fed only to meet commercial de.
mands, a heavy surplus is certain.
This being manifestly true, it becomes
apparent that, unless the production
next year is cut down fully one-half, a
disaster second to none the farming
and business interests of this country
have ever known awaits us.
II insist that the two matters here
submitted epitomizes the cotton situa,
ton, and l urge them earnestly upon
the farmers and business men Of the
state We must pursue both policies
or we will find ourselves next year in
worse financial condition than we
have been this