Bisbee daily review., 1914-10-23
rHE COTTON CRISIS


 rHE COTTON CRISIS
 Within the past few days there has been an unpreee. dented attempt part of southern senators and rep resentatyes to obtain public aid for cotton growers They have urged that the government itself buy their surplus through the of percent bonds to the amount Of S25OOOOOOO
 It is the first time that organized effort has been made by an American industry unload unmarket- able output on Uncle Ssm But 1t is also the first time that large, populous and economically important sec the country has been subjected to sudden and dis astrous business perayss through conditions beyond it's control
 The European war has hit the south harder than ether region outside of the begerent countries has suddenly off twothirds of the usual foreign demand for the time when the crop ready for marketing and when millions of people were counting cash sales to pay their obligations.
 Cotton, it should be understoood is the only of cur great crops that is produced credit Possibly the planters of the cotton belt may crsed for habitualy using this income pay expenses instead of getting ahead financing their crop, western farmers usually do, but it the southern system The cotton grower borrows his prospects to maintain his laborers and pay his bills
 Bankers have never hestated to lend when they had the money has been the best of security the most easily convertible into cash Beginning August 1st every year any with bale of dispose has been able sell it for real money spot The buyer the cash from the bankers and the collected mills to which was shipped or from the exporters.
 Recent experience has justified expensive cultivation ago used to bring $50 to $40 bale of 500 pounds the years price has run from $50 to s6o. Last the staple averaged ss5 bale
 The crop to be rated as worth about s1 OOO oOoOOO year for bales and seed There has been no indication of lessening demand price. It was nat ural enough that 36oOoOOO should be planted for this seasons crop and peculiar trick of fate that turned nearly 1sOOOOOO bales the biggest crop in history but just when the market by war
 The fact that the South produces two-thrds of the worlds cotton and that twohirds of it's product is sold abroad shows the extent of the calamity Germany and Austria are inaccessible. England is buying far than usual Even if the export market strengthens it may take a year or more to unload the output
 Meanwhile how shall the fourteen cotton states pay their bills and live through year? They cannot eat cotton, and for the first time no good to pay debts with And while the South is suffocaed by its own un marketable wealth it's inability to pay it's debts and make new purchases reards the natural business recov cry of the entire country
 Several methods have been proposed in a quest for relief The buy bae plan has proved to be surpris ngy popular but effective enough Half million bales be bought by patriotic Americans of small means at $50 bale but there will left several million surplus bales. Government assistance whether in the form of a "yalorzaton" scheme or a non-specuative purchase has not received the support of the admins tration nor Of economic authorities.
 The most feasible project has been the raising of Sl5ooOoOoO fund to lend on basis of six cents pound. This sum. already subscribed should suffice to carry about onethiTd Of the whole crop at little less than it's present unnaturaly price Perhaps addi uonal funds can be raised likewise by private subscrp- ton to take care of the rest
 And the South will undoubtedly guasd against rep eon of the disaster by planting large part of it's cot ton in food crops which are always marketable