Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1917-10-12
Thirty Cents Is Not Too High
For Cotton, Says Senator Smith
Declares That the Embargo On Cotton has not Affected the
Price-Discusses the Cotton Situation Generally

the same thing, and they rushed to
sell cotton not yet picked. The result
was inevitable The price fell.
Cotton was quoted around % cents
a pound when the embargo was an
nounced. 1t sold off steadily until it
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 %
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-
larors that the embargo was RESPONSE
bic for the fall in the price. The
profiteers waxed richer and richer at
the expense of the public'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
to suppose that cotton was worth
much less than it had been selling
for if the market for 100000 bales
was to be shut off by the government
embargo. It was logical to deduce.
this being the case, that there would
be an overproduction.
| Senator Hoke Smith was the first
to call attention to the deception be-
ing practised by the market manipu-
{ idtcrs TO depress the price> Of af,~~.on.
1t is noteworthy that when the Geor-
gian arose in his place in the senate
and exposed the fallacy of the belief
that the embargo would affect 3OOO-
600 bales cotton was selling for be-
tween is and 19 cents pound. 1t is
| gratifying to observe that today. fol-
| lowing the expose inaugurated bv Mr..
Smith. cotton again is steadily advan-.
cling in price. The public understands
now that the available supply of cot
ton in sight is far less than the GER
tain demand 1t understands, also.
that even at 20 cents a pound the
parity between cotton and other ne
cessities, including wool, does not bear
an equitable relation Cotton is far
too cheap, relatively.
In inviting the senate's attention to
the situation, Senator Smith showed
first, that the embargo cannot posi-
bly, affect as many as 100000 bales of
cotton, and the chances are that it
Will affect none since the embargo
contemplates only that no cotton
shall reach our enemies It permits
continued export of cotton to neu-
trails contiguous to Germany under
such restrictions as make it certain
that none of the cotton thus exported
shall reach either Germany, Austria
or Turkey.
Senator Smith pointed out, more
ever, that the American embargo as
to cotton simply relieves our ally,
Great Britain, of a duty she hereto
fore has performed with respect to
| the Southern product. He detailed at
length the methods heretofore used
~ OANeSl Ii itNtil4 III lNStlICLlIlS tie use
of cotton in the neutral countries con-
tiguous to Germany and displayed an
intimate acquaintance with every
phase of the cotton situation from the
beginning of the war to date, includ.
ing the use to which all cotton ex.
ported to Germany, Austria and neu-
trail nations has been put.
The Georgian showed, in addition,
that the world supply of cotton is far
short of the anticipated demand.
Senator Hoke Smith was seen at
his home today, and asked for a
brief statement about the cotton stu
alton every development of which
he has followed closely. He said
The effort to use the embargo as
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 the
coming year will exceed production
and supply more than 100000 bales.
compared with prices at which
wheat, wool, corn and other products
are selling, 80 cents a pound for cot
ton would not be high.
Farmers will sell their cotton this
year for over % cents a pound if they
appreciate the situation and demand
the price"