Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1917-09-28
Cotton Will Sell at Twenty
Five Cents a Pound If Farm
erS Demand the Price, Says
Senator Smith
BY RALPH SMITH.

NASHlNGTON. sept. Zt.-Ihe GEAR
raid on the cotton market, that threat
ened 20 rob the southern farmers, has
been broken down. The raiders have
been run TO cover. Their rout has been
complete. Cotton has advanced stead
lily in price ever since the white light
of publicity exposed the market manipu-
Iators and exploded their fallaciouS
propaganda
Neither the foresight OF a prophet
nor the son of a prophet is required 20
see that cotton farmers will receive for
this years crop financial return com
mensurate with it's value IL they will but
sit steady and demand their rights. The
law of supply and demand entities the
farmers 10 receive price approximate
ing % cents a pound, or more for their
staple. The law will work its inexor-
able certainty if farmers will but per-
nit it.
The raid of the bear operators on Wall
street, it's immediate effects on the cot
ton market. on the one hand, and their
exposure in the senate of the United
States and its effect upon the market,
on the other, form an interesting story.
The bears sought to profit themselves
financially at the expense or the cotton
farmers, by taking advantage of a gov
eminent necessity. So eager and money
hungry were they that they resorted to
malicious, illogical and unfair methods
to injure the price of cotton. Their
publicity campaign of false and mis-
leading information temporarily was ef-
fective, and the price Of cotton slump
ed appreciably.
The cotton market profiteers, an alert,
INSCRIPTIONS lot Of Wall street gamb-
lers. seized upon the American cotton
embargo as the means to their selfish
end.
The federal government. through its
export administrative board. placed an
embargo on the shipment of cotton to
neutral countries contiguous to Ger
many and the Central powers. Hun
dreds of other articles of commerce
were included in the embargo. which
was resorted to as a war measure by
the American governments measure
that is calculated and designed to end
the par by preventing our enemy and
the enemies of our allies from securing
products tht may be helpful to them
in waging war on the American peop-
pie.
Fewer than SOC, 900 bales of American
cotton can be affected by the embargo.
The countries contiguous to Germany
and Austria that heretofore have import
ed cotton from America have used fewer
to affect the price of the staple one
way or another.
But the bear raiders. the cotton mar
ket profiteers, appreciated the potential
titles of the word embargo" A cotton
embargo was music to their ears; it
meant a jingle of dollars in their pock-
cts They were not slow to seize upon
the action of the government, an action
utterly useless to their purpose If they
confined themselves to the truth.
But truth and market manipulators
are strangers So the manipulators,
true to the traditions OF their business,
magnified the news of the cotton en-
barge Instead of Affecting a paltry
SOC, 900 bales of the cotton crop, as was
the truth, the manipulators skillfully
circulated the report that the embargo
would shut off the market for 100000
bales of cotton.
There you have the inside reason for
the sudden drop in the price of cotton.
The market manipulators deceived
southern farmers to believe that the
United States government, by placing
an embargo on cotton. had cut off the
demand for 5000, 900 bales. Not alone
were the farmers deceived. Other per-
sons. deluded by the skillful publicity
Of the manipulators. believed the same
thing. and they rushed to sell cotton
not yet picked. The result was inevita-
BILE. The price fell.
Cotton was quoted around 20 cents a
pound when the embargo was an
nounced. 1t sold off steadily until 1t
fell below 10 cents a 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 20 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 manipu-
lators that the embargo was responsible
! for the fall in the price. The profiteers
waxed richer and richer at the expense
of the pubHc's credulity until it began
! to look as If there was no bottom in
sight for the price of cotton.
1t was logical enough for the public
I to suppose that cotton was worth much
less than it had been selling for If the
market for 3,eOO, 900 bales was to be shut
off by the government embargo. 1t was
| logical to dedUce, this being the case
/ that there would be an overproduction
Senator Hoke Smith was the first to
/ cali attention TO the deception being
practiced by the market manipulators