The Marietta journal and courier. (Marietta, Ga.) 1909-1918, 1917-10-12

the same thing, and they rushed to
sell cotton not yet picked. The result
| was inevitable. The price fell.
Cotton was quoted around Is cents
pound when the embargo was an
nounced 1t sold off steadily until it
fell below 10 cents pound. 1t began
to look as if the men who raised the
cotton were to be compelled to accept
even a smaller price for their product,
Notwithstanding that cotton at 25
cents per pound is cheap as compared
to the war prices of WOOL wheat,
corn, sugar and other necessities.
The public, including the farmers,
accepted the statement of the manip9-
lators that the embargo was RESPONSE
BILE for the fall in the price. The
profteers waxed richer and richer at
the expense Of the public's credality
until it begah to look as II thaFe was
ND bottom In sight for the price ct
| cotean.
It was hgaRal eiaz0Mgh fer the public
| to sGlFs&se that e@ttoa was wewth
ns&eh less tkaa it had been sellhag
| for If the EgaEket fer 3,@se9, 600 baAes,
was to be shxt eff by the government
elshgaTge. 1t was hgg@sM to deda@e,
this being tie case. that tAsspe w'euad
be ava ove@pnes1G'ctio'a.
S,e@at@r Heke Swatch was the fOnst
| to GAIL atteati9a to the GSe@vgtbQ:a be
taog pragtbsGd by tbVa RaagNe& RaaaNaigsSs ,-
l&t@Gas TO @s@Fesqs toe price OF costt@M,.
1t is R,@SsesG orthy thaut wkus@ thG G,esgm-
gbaa s,rees9 iaz- bios pdoasgs 100 thDa soessoa.e
aaOa exposed tSus fallagy or thue h'a,te:
tkaGs the saabaango would as1get S,G@'0,-
Ono bales COTTON w&s selling foH I've
tween Is sn@ 10 GENTS q p3QdSa6. 1t is
gratfyiug TO observe tha& tcad&r, fol.
| lowing the eNopos,o inaNQy 7QlradSs& by Mr..
Smith, COTTON again is steadily ag&ysa0.
ciDs 10 price. Thus public u@derst sdo&s
nov that tbs @gatlss0le supply Of cut.
tom ia sight is 6sF less t&aJu tNe cer.
tain demand II under stands, also,
thst evem st Is cents O. pound the
| NES-
cressitiss, Including wool, do@s not besus
go equitable relation. Cotton is far
too cheap, relatively.
10 horitiDg th9 semls&e'$ attemtiom 10
the situation, Senator Smith s%ossga
Gest, that the embargo cannon ps9ssi-
bly affect as posduy as $0G,o@0 baaes cs
@sottQm, a~m& ths chances are that it
Will affect mpms, since tMe ena hagsu
c'om teaa plates only ths@ mo cutton
sna all reach omr emenoieg. II permits
coa ti@ Wed export OF ccNetom to m@W.
trals contiguous to GeF@aamy. Un6gr
SUCH restricslumg as 9aaAe it certain
that num@ OF the cottom t@us exported
saall reach either Germany, Austria
0r Turkey.
| SENATOR gnoiDh psol@ted out, Oa@r7s.
ewer, that ths American enn@argO as
to COTTON slaaply reltswgs onpr AMY,
GrSaat Britain, OF q duty shs hereto
forS has pre- gform's8 with respect to
the Southern nsru60et. He detailed at
length tbs methods. hewgh0Spee ms,a,d
By Great Britaia In RESTRICTING the USE
0& eoaat Coo 10 tue BeWtrctl e@4mtYSes con-
tigg8s8sGs TO CssT laasaJgy anu& &&sqpSlayea aja
iati@&atG sSoquabata@sce With every
pjBaasoa OF tha COTTON sbtpgatioa fFoaa tie
hagsi8ai@E az ths way 30 &8te, iMclGd-
bag the UQ@e to which all cestO@s en-
YsOgeta.i to Germany, Austria and Rss'd
trad A23giugoss kxas bassm p@t.
The Georgian showed, im addition,
that the world s@gBly OF c0tem is far
short of the anticipated demamd.
Senator Hoke Smith was seen at
his honse today, and asked for a
brief statement about the cotton stu
alton, every development of which
he has followed closely. He said:
"The erfort to use the embargo as
q means to lower the price of cotton
has been exposed and broken down
"The trade fully understands that
| during the past three years the world
consumption of cotton has exceeded
production 100000 bales, and that
| the demand for our cotton during tho
| coming year will exceed production
and supply more than 100000 bales.
Compared with prices at which
wheat, wool, corn and other products
are selling, 30 cents a pound for cot
ton would not be high.
Farmers will sell their cotton this
| year for over rs cents pound if they
appreciate the situation and demand
the price"