The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1914-08-12
Wednesday. August IL, 1914.
IN ENGLISH NAVY LIES
HOPE OF COTTON
FARMER.

FARMER.
All the civilized world has a vita,
interest in the English navy at thi;
hour, and no country is so much con
cerned as the United States. ~,
Only a little over One-third Of
American cotton is consumed at
home, and of that heretofore taken
by. foreign countries, England has
taken perhaps seventy-ive per cent.
Without having the figures and with
out attempting accuracy, England
has about sixty million spindles,
France about eight million, Germany
about twelve million and Russia
several million. -
None of these countries will be
able to operate their cotton mills on
full. time in a state Of war, but barr
ing Germany, all the other nations
named may continue manufacturing,
so long as England is mistress of the
seas.
A decisive naval battle, resulting
adversely to England, would mean
the ruin of the Southern farmer in
the United States. At present the
German fleet is in a measure sur
rounded. 1t ranks second to Eng
land. and Is q formidable rival, but
England is likely to retain her mas
terry of the waters. In this event,
there is no great cause of alarm
touching American industries. No
branch of American manufacturing
industry can: be seriously affected
and SO long as England keeps her
sixty million spindles going and
American spindles are going on over
time, cotton consumption can not fall
far below normal.
But If conditions should be. re-
versed. IT Germany should defeat
England in a decisive naval battle,
she would of course. patrol the
high seas and would stop commerce
between Europe and America. She
would blockade English ports even
against American ships, of which
there are not sufficient, though.undis-
turbed, 10 carry ON the trade between
America and Europe. Such an event
would confine the consumption of
American cotton to American mills,
which at best could not consume
more than about forty per cent. of it.
This would force the price of cotton
down probably as low as five cents
per pound. However, until the Eng
lish navy has failed in the great mis-
sion in which 1t is now launched
there is no cause for serious alarm.
Congress is going to provide for an
emergency loan to the cotton States
which will enable cotton farmers to
hold their new crop on warehouse
certificates until the war is over or
until conditions in the commercial
world are better understood.
While the Press and Banner would
not volunteer advice on the future
price Of cotton, it is safe to say! that
49, - D -L1
the staple win open UP at the lowest
possible price; and. the man who
sells in a panic, is likely to SELF his
cotton for much less than it is worth
and much less than 1t will bring
when quiet is restored or conditions
have become more fixed and better
understood.
It is the policy of the Igevernment
to help the farmer hold his cotton, it
is the policy of the local banks to aid:
in every, way possible, and it is be-
lieved that merchants to- whom far
mefs are indebted, will be consider
ate, accepting such payments as far
mers can make from sums borrowed
on warehouse certificates.
The South is nj a crisis that will
likely improve with every day and
it is the part of wisdom for all the
people to stand together and work to-
pether To tide over the most critical
period.