Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1917-10-02
IS THE PRICE OF COTTON ABNoR-
MALLY HIGH7

There was an elaborate discussion in
the United States senate on September
% relative to the nigh price of cotton.
Space will not allow a full copy of the
arguments pro and con, but Senator
Ransdell. of Louisiana, presented a Ia
BILE of prices, for the last FIVE years,
which will explain the south's position.
1t is a question of vital interest to
southerners:
Mr.. Ransdell. Mr. President, corn
and wheat. the other two really great
products of the farm, kave risen consid-
erably more than 100 per cent since 1918,
the rise in corn being about 1913 per cent
and in wheat about $50 per cent. Cattle
and hogs have also gone up very much
since 1913. On September 10 of that
year good steers on foot were quoted on
the Chicago market at 6.75 to $50 cents,
while on the same date this year they
were quoted at us TO 1910 cents. Hogs
were valued at 100 to $40 cents on
September 10, 1918, and 1920 to 1910
cents on the same date this year-an
average of over 100 per cent increase.
Nearly every article of human food has
increased more than 100 per cent since
the war began. There has been an enor-
NOUS rise in the price of clothing, shoes,
hats, lumber, farm implements, fertiliz-
er, bagging, ties. seed sacks. wire, nails.
wagons, work animals, and every article
which the farmer is obliged. to use.
Moreover, there has been both scarcity
of labor and increase in the wages Of
laborers. 1t will be seen from the fore
going that, while other products of the
farm have increased 100. per cent and
upward. cotton at 20 cents to the pro-
Queer is considerably less than 100 per
cent. Taking the average, HI cents OF
the three years prior to the war, an
increase of 100 per cent would be casa
cents and taking the price for the last
normal year prior to the war of 12.4S
cents, 100 per cent increase would be
24.96 cents-practically 20 cents per
pound.
ask at this point to annex as Appen-
dix B a table which have prepared.
Mr.. President, prices and values are
relative. Money is valuable only for
what it will buy, and if a bale of cotton
at 20 cents per pound, or 500, will buy
less now than the same bale at IL cents
per pound, or $50, of five years ago, cot
ton is cheaper now at 20 cents than it
was then at IL cents. Let US take $50
bale of five years ago and compare its
purchasing power of ordinary necessities
with the 800 bale of today, as shown in
the following table,
The $50 bale would buy
80 bushels potatoes. at 20 cents per
bushel.
$50 pounds lard, at cents per pound.
IS barrels flour, at $3.50 per barrel.
375 pounds bacon, at 16 cents per
pound.
tons hay, cat $40 per ton.
80 pairs shoes, at 50 per pair.
$50 yards cotton cloth, at s cents per
yard.
100 bushels corn. at 60 cents per
bushel.
The 500 bale will buy
81 bushels potatoes, at s1.75 per
bushel
s12 pounds lard, at 80 cents per
pound.
61-2 barrels flour. at $3.50 per bar
rel
$50 pounds bacon, at 40 cents per
pound.
5 tons hay, at $40 per ton.
% pairs shoes. at $4.25 per pair.
645 yards cotton cloth. at 10 1-2 cents
per yard.
so bushels corn. al 81 per bushel.
From this it viii be seen that the
present PURCHASING value of cotton on
a basis of 20 cents per pound is nothing
like as much as it was at 12cents; and
while 20 cents may seem high, it is
really much cheaper than the. former
price of II cents.