The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-08-15
SOUTH CAN CONTROL
THE COTTONMARKET
STATES MORRISON
Cotton Can Be Grown at
Less Cost Here Than Any
Place in the World
VAST NEED OF COTTON
AT CLOSE OF THE WAR
Man Needs His Shirt as Badly as He
Needs Bread and to Go
Without Either Is I'm
thinkable

w. M Morrison, representing the cot
ton firm of Herman & Wolf of New
Orleans. and widely known as an expert
cotton man and economist, is at the Tut.
wiier.
Mr.. Morrison has been travelling the
southern states from the Rio Grande tc
the Atlantic seaboard getting data on
the economic conditions of the cotton
crop Of the south for the past 30 years
In speaking of the cotton situation in
general, Mr. Morrison stated that the
price of cotton would probably be in ex-
cess of that offered for the staple in the
past 10 years.
Indications are from recent crop de-
velopments that the supply will be nearly
100000 bales less than the normal sup
ply of the world" said Mr.. Morrison.
Where the price will go, it is hard to
tell Probably 10 cents will be an aver
age.
SOUTH TO CONTROL
1.-The ability of the south to control the
marketing of the cotton crop has been
80 we'll defined and established during
recent years, especially during the last
two years, that any reference to it will
soon pass into the realms of academic
discussion, said Mr.. Morrison. There
are few who do not yet realize the
vital influence it is now exercising and
which there Is every reason to believe 1t
will continue to exercise in the cotton at
fairs for many years to come. They be-
long, for the most part, to a class of
Nfa vol tvoH ut "a lor
tiers who have been lately, particularly
during the last two months, selling the
future market at a discount below spot
cotton upon the assumption that the
prices which have been current during
recent months could not Withstand the
weight of the early movement of the crop.
This has been done, notwithstanding
that the big surplus produced in
1914 has disappeared, that crop of $1,000,
900 bales would be needed, even should
the war continue and that the official
figures on acreage and condition rather
definitely forecasted that the production
of such supply was beyond a reason
able possibility.
THE history of consumption and the
history of the price during the last %
years and their logical relation to each
other, make it fairly certain that had
not the war interviewed, the consumption
Of American cotton the coming season
would have been somewhere nearer H.
100000 bales at an average price some
where near Is cents. This may seem ex-
traordinary to those who are still under
the spell of the ancient creeds and theo-
ries of an orthodox past. but it is the
logic Of records we'll known to every stu
dent of cotton affairs and are available
for every one who cares to make such
an investigation. You see practically uni
formly over an extended period of time,
as consumption has expanded the aver
age price has advanced.
DEMORALIZING DISASTER
These records also make it practi-
cally certain that, if the production of
American cotton is not increased the first
year after peace is restored to something
like 100000 of bales over what would
be normal crop this year, there will be
demoralizing disaster in the cotton
manufacturing industry and possible dis
tress, especially abroad. During the last
two years, economy in cotton goods has
been pushed to the limit in Europe. The
people will come out of the war with a
vast and urgent need for cheap clothing.
Cotton is the only product that can
adequately supply this need. They will
be greatly impoverished, 1t Is true, but
finally. a man needs his shirt as badly
as he needs his bread. For a whole ma
ton to do without either Is unthinkable.
Events clearly forecast that there will
be tremendous demand for cotton as
soon as the war ends.
THE increasing consumption Of Ameri-
can cotton by American mills, in its
distant possibilities, Is fraught with the
greatest consequences to the spinning in
dustry of the old world, especially of
England. This increase has been steady
during the last decade and was only ac-
centuated by the war. The American
mills will be consuming in a few years
two-thirds of the American crop. Should
the war last for another year, this will
probably come in the next two years.
There Is every reason to believe that the
tendency will be to increase rather than
to diminish this lead. Certainly the ex-
pectations of our merchant marine, our
expanding business and our great finan-
cha, resources justifies this view, and the
view also, that the needs of American
spinners will be satisfied before the needs
of the spinners of the old world.
ENGLAND'S OUTLOOK OMNIBUS
THE normal increase in the world s
demands, which 1t is reasonable to ex-
pect will be resumed and continued with
return to normal conditions, will be a
further addition to the burden on the
supply So it seems that unless there is
great and steady increase in the pro-
duction of cotton after the war. there is
almost certain to be much distress among
the spinners and among the people of
CONTINUED on PAGE Ten)