Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1917-03-02

it SHOULD stay that way-certainly for
a long time to come. The bankers,
cotton factors, merchants,
and farmers OF the
South should realize this and help to
bring it about.
The present holders Of spot cotton
should not sacrifice their cotton at
current prices. The world faces cot
ton famine. You who have the cotton |
will be among the favored few-your
cotton is almost invaluable. But you
must see beyond the temporary mar
ket panic induced by political devel-
opments and the imminence OF war.
Things are not as bad as they seem.
Naturally, spectators are taking ad-
vantage of the psychology of the sit
uation to depress the market and buy
ers hold off to help the process along.
But the fact remains that the mills
must have cotton and cotton is FAST
becoming scarce. When users realize
this, and find out the Southern holder
OF cotton is not to be stampeded into
letting his cotton go at any old price,
there will be q mad scramble for the
precious fibre, and the spot holder
will come into his own.
In the first place cotton ought to be
high, aside from the supply and de-
mand of this particular commodity.
On long list OF commodities, some
of which have risen over 300 per cent
in value, an appreciation of 30 per cent
above normal exists. This is due to
the vast production Of gold, and hugh
paper war credits, which Of course re-
duce the purchasing power of the dol
lar. When money is cheap, other
things are high. On this basis alone
cotton ought to be worth not less than
1sc basis middling, this being 30 per
cent increase on the average price for
the last six years of 12c.
1t is generally conceded that
the 1861 crop is short. There Is
hardly any need to emphasize this
point. Further, this is the second
year that there has been shortage.
The situation is briefly shown as fol-
lows: The crop this year including
linters is estimated to be twelve and
half million bales. There was carried
over from the old crop including mill
stores, in warehouses and interior
towns and on plantations, three and
one. quarter million bales. This gives
q total visible supply of fifteen and
three quarter million bales. Ut this
number about ten million bales have
already been marketed. This will
leave about Ave and three-quarter
million bales still to be used. At the
rate the American mills and exports
have been taking American cotton, 1t
should require about seven million
bale 49, now and the time the
next croFss6mes in. Az it never hap
pens that all the cotton in sight 10
available for use, one can see the
enormous shortage that will exist late
in the summer of this year before the
new crop comes in.
Now suppose we do have war and
exports are affected. This will be on
set by the increased demand for cot
ton goods in the shape of uniforms,
the manufacture Of shells, and other
war uses. As a matter Of fact, it is
unthinkable that the German subma-
rine policy will stop the expectation
of cotton entirely. 1t may limit such
as it has done in the first few days
since this submarine policy was put
into effect, but it will not stop it be-
cause Great Britain as q last resort
will give armed conveys to steamers
carrying necessities, which includes
cotton. II the United States goes into
the war, this would help the exporta-
ton of cotton by the conveying and
arming of merchant ships. 1t IL
plainly evident that there is terrible
shortage of cotton and no matter wha,
happens there will not be enough to
60 around next summer, II the mills
are to run full time and are not will
ing to permit their stocks to run dowr
to practical exhaustion; some author
tiles contend that two months sup
ply is necessary in the mills OF Amer
lea and that the stock in the mills viii
be kept at about what they were or
August last Il ,632, 900 bales).
Not only.are prices of cotton goods
aud other commodities very high now
but there is general prosperity abroad
and even should the United States en-
ter the war, business will be quicken
ed and the demand for cotton goods
especially will be increased. From re-
liable information, We understand
that a week or so ago, a dry goods
commission firm i'm New York sold 9
million dollars worth of cotton goods
at the highest price of the season fol
similar goods. There has been very
little change in the price OF cottor
goods or any of the fabric goods sucf
as silks, linens, etc. There is no rea
son to expect lessening Of the de
mand.
With the certainty that the present
cotton crop is much less than the