The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-01-24
COTTON EXPORTS TO
EUROPE ARE HEAVY
HETITRNENT OF THE SITUATION
SHOULD MEAN PROMPT PAY
MENr or DEBTS.
PRICE n A S ADVANCED
NOW SELLING HIGHER THAN AT
CORRESPONDING PERIOD IN 1905.
South MIST PROTECT IT'S
FINANCIAL HONOR.

The steady hetternlent In the whole
cotton situation during the last few
weeks makes il possible fer the South
to largely overcome all OF the dlsad-
vantages which it confronted In Is
financial and general business opera
,ions early ia the season. Cotton ex
ports to Europe continue heavy tho
shipments for the rast two weeks
ending January Is having aggregat
5S3,2bs bales. against s25. 1Se bales
for the corresponding weeks OF la 81
year: and on January Is, according 10
the Commercial and Financial Chror $
icie. there we're on shtphoard not
clea red +2124S bales. or 2e0. 700 ba les
more than for the same week of 1914,
and just a fra ciion less than zoe. 600
bales fer the corresponding week OF
1913. indicating thai the exports fer
this week, as most of the vessels VIII
clear before tho end Of the week.
will be exceptionally large
Foreign exports have now crossed
the 3,oen, 900 bale mark. and IL all the
cotton that was on shiphoard csl last
Saturday Is cleared this week. the ex-
ports to the end Of the week viii run
to bout $4,000 bales
Advance in Prices.
The heavy shipments abroad and
active purchases at home have re-
suited In II gradual advance In prices
from the low figures prevailing few
weeks ago. until cotton Is now seili iss
higher than at the corresponding
time In 1905. and hui, little less tina,
al the corresponding time in 1909 and
1908 1t is selling very much abb re
ihe average between 1894 and 1899.
the range of middling upland at New
York on January & this year he. ~
eos IA "A
with 5Th cents on, the same date
1895, s.to cents in 1896: IS, cents
In 1897. 5.Ss cents in 1888, and 6.et
cents in 1929, according to the Finan-
ciai Chronicle figures. Since January
Ii the price has further advanced,
Notwithstanding the fact that pres
Ient prices are less than the cost OF
production TO many farmers. there is
such marked Improvement over the
prices prevailing during the early
part of the season that the whole sit
uation ought TO rapidly change for
the better. 1t is now possible foi
farmers to sell cotton and take care
of their financial obligations. and
honesty demands this should be dono
There are many complaints that there
lis a Withholding throughout the South
OF payments even by farmers who a.
in a position to pay. and that othes
people than farmers are also with
holding payments that they would or
dinarily promptly care for, taking adj
vantage of the present situation to de-
Law payments Of .leiits rather than
making an extra effort to meet their
obligau ms.
Should Hold Reputation.
There was probably never .timt
since 1866 when IT vas more incuni'
bent upon the South TO meet ever,
obligation that can possibly he met
even by sacrifice, than the present.
The, financial integrity OF this sec
ftfon demands that every one should
TO the utmost OF his ability meet every
financial obligation promptly. The
reputation of the South would be Sc
lrionsly injured and It's prosperity re
tarded, and this would mean a halt
ling Of the prosperity of every indi
vidual IL there should be any with
holding OF payment for indebtedness.
by debtors who can even by the sac
rifice meet their obligations
Financial honor Is too delicate 6
thing to be trified with. and the honor
of community or section ma,
of comparatively rev people. The
honest, honorable man has TO suffer
for the misdoings of others.
AT this time, when 1t il pre-emi
nently important that the South
should come out Of this business de.
preston with flying eolors, and with
an untarnished reputation for com,
mercial integrity, every man in tht
South should recognize his own indi-
vidual responsibility, even II at greal
personal sacrifice to meet any finan
cial obligation that can possibly bs
met, and meet II promptly.
The complete change in the cott0y