The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1917-05-09

their profit. I have been hoping that
saw one in Atlanta, but it is too ex-
pensive and requires too much power.
Col. j. H. Marion of Chester has one
that if it does what is claimed, may
revolutionize the method of handling
cotton, as it would all then be COM
pressed. I said would talk about
the effect of war on cotton. Statistics
show that when war comes, cotton al
ways goes down first and stays down
longer than any other article of COM
merce. People can wear their old
clothes but must eat every day. On
the other hand cotton finally goes
higher and stays up longer than any
other product. Cotton has not yet
gone as high relatively as grain, meat
or metals, and under this rule it must
reason for this is the first drop cur
tails production and high priced food
forces more land into grain and stock.
If war continues cotton famine is
as sure as fate, because the reserve
stock is used up and the clothes on
hand are worn out. There is another
rule that never fails to work out, war
means initiation from credit money. I
never had the slightest doubt in 1914
as to what the imitation sure to come
meant in prices of COTTON. I have
considerable portion OF my 1914 crop
yet and | know of several wise men
in Sumter who foresaw it as l did. I
congratulate them. The price of cot
ton will be determined by the price at
which we who have the spots turn it
loose. I said when cotton was .12
cents per pound that it was worth 25
cents compared with the other pro-
ducts and am of the same mind now.
In 1914 the middlemen reaped tre-
mendous profit. Intoxicated with their
success they sold more cotton head
than has been made in 1916, and we
farmers are in a position to even up
with them. The New York future
market has been manipulated shame
lcsly to break the spot. They ran it
down under 13 cents, but the markets
of the south refused to follow and
now we are at the 20 cent level again.
The submarine warfare has interfer-
cd with shipping and raised the insur-
ance rates or cotton would now be 5
cents per pound higher. The entry
OF the United States will undoubtedly
shorten the war. Some way will be
found to abate the submarine nuis-
ancc. Bot hthe submarine and air
ship are are Americas inventions,
and once the inventive genius of this
country is focused on the proposition
they will find way to handle it. 1t
may be that vessels will only leave in
great fleets conveyed by battleships
with numerous destrOyers and aero
planes. England must have cotton
and some means will be provided. The
United States will need at least one
half Of the cotton on hand for the
manufacture of explosives, uniforms,
tents and other equipments. l saw
the statement that one munition con-
Germ had used up million bales of
cotton since the war began. The
plant at Hopcwell, Va, had the pro-
duct Of quarter of million bales of
cotton on hand at one time last sum-
mer. 1t takes an average of 2 1-2
acres to make one bale of cotton and
sumes it. Cotton will be high for
several years for the following rca-
sons:
First: The scarcity and high price
of foodstuffs forces curtailment of
acreage. Second: The absence Of
immigration and call for army re-
cruits makes a constantly increasing
labor shortage. Third: There is a
shortage Of goods and the mills have
practically no reserve supply Of raw
material. Fourth: The entry 4 of
the United States means an expan-
sion of the home market which will at
least Offset the loss of the, central Eu-
ropean market. 1t requires four
times as many clothes for army as it
does for men in civil life and it is
all heavy material requiring more
cotton for it's manufacture. Fifth:
The initiation Of the currency must
continue as long as the war lasts. The
dollar will buy less and less of all
products including cotton. Money
gets cheaper and things dearer in
war. If man has money he had bet
ter buy cotton, corn, wheat or any
other standard product, it will ad-
vance while his money will shrink in
value by the decrease Of it's pur-
chasing power. On every decline
there is buying by leading trade in
terests, while the selling is almost
entirely speculative in its character
The technical situation is yery strong