The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1915-09-15

1.-The current seasons crop may
be as low as 10, 500, 900 bales. 1t
is entirely within the reach of
present conditions that we shall
see IL 1.2 cent cotton before the
end of the season. -
These two authorities base
their estimates chiefly on condi.
tion reports from all over the
South, but might have added
the further testimony that the
tSouth cut it's fertilizer consump.
ton this year from 4, 431, 900 tons
to 1855, 900 tons-almost in half
land the effect of this cut will
probably make itself most evl-
ident from now on as closer
scrutiny is given the fruitlng of
the crop.
The reader can easily see for
himself therefore, that if We
Ihave only a 10. 900, 900 bale crop
the factories of the world would
utterly drain the market dry,
leaving it subject to such condi-
tons as occurred a few years
ago when spectators carried
prices to II and 20 cents a
pound.
And now having pointed eut
that twelve cent prices are just
Iifed because the 1915 crop is
certainly 5000, COO and possibly
100000 bales short Of the
| worlds demands, meaning that
| factories will consume all the
present yield with the greater
part if not all the worlds visible
surplus. I also wish to call at.
tention to the fact that
I'LL. - AMERICAN PROSPERITY
IUsTIFIES TWELVE CENTS.
The American Bankers Asso-
citation has just been meeting in
Seattle, Washington, and what
| was the message that the Pres
ident of this greatest organiza-
.tion of fnancers brought the
country? He predicted, says a
press dispatch, that san almost
unbelievable prosperity is rush.
ing on the nation" or to quote
his exact words. %
sswhen bank reserves, which
are greater now than they have
ever been in the history of the
country. are distributed, the
nation will enjoy almost unbe-
lievable prosperity. The vol
ume of money On hand is so
great that it cannot find a ma
tural outlet. The movement of
the tremendous crops, with the
attendant financial activity, will
still further increase the bank
reserves. ("
The manufacturers are no less
optimistic than bankers. The
Factory Magazine of Chicago
recently took a poll of 1853 Eas.
tern and Middle Western manu-
facturers as to the prospects for
business in the fall. Forty, or
practically one-fourth of the to.
tai number, declared conditions
exceptional" % ''fine," or
ssabove normal" so "good," Is
ssfair"' and ''fairly good" only
seven "dull and poor,'' and only
one ''much below normal and
very poor"
Another point not to be over
looked is
IV.-THE NEW FEDERAL RE-.
SERVE ACT INSURES BETTER
PRICES.
President Hirsch Of the Texas
Bankers Association told the
big Cotton States Conference of
Southern bankers in Galveston:
"For the first time in the his.
tory of the South. gentlemen,
the Southern bankers have the
financial ability to market grad
ually this crop. It would almost
appear as if the Federal Re-
serve Act had been drafted for
the benefit of Southern produc.
ers." Just because the reserve
act doesn't give the farmers all
the help. they need-just be-
cause it doesn't take the place,
nor profess to take the place, of
the much-needed rural credits
legjslation-is no reason for de-
nying or minimizing the great
advantages it does offer.
The Federal reserve system
does enable the banks in the
South where money is needed,