Oxford eagle. (Oxford, Lafayette Co., Miss.) 1876-current, 1918-02-28

their own supplies and have been able
to keep their money at home, there
fore placing us in the most prosper
Gus position in which we have been in
so years. These are few of the rea-
sons why We have engaged such q
programme.
Now, at the beginning of the year,
why should we change that pro-
granlme? l frankly cannot say. The
only possible reason that could be
urged would be the high price of
cotton, but the price of everything
else is high in proportion. What
would be the position of the farmer
IN the south today if last year he had
planted all cotton and had been COM
PEELED from the beginning of the year
to buy everything as needed to to run
his plantation, to buy his hay, corn,
ETC.?
"Dou you believe that 30-cent cotton
would have been worth more to the
farmer than 10 or lucent cotton used
to be? l do not. In my judgment
the only result would be that he
would temporarily handle more money.
In addition to this, gentlemen. l want
to ask you what assurance have we
that the price of cotton will remain
high another year? II any farmer
in the south is tempted TO plunge in
cotton this year, to forget the advice
that he has been given in ordering his
own supplies, want to seriously ask
him what assurance he has next year
of 30-cent cotton or any high-prieed
cotton? do not mean to say that he
will not get it, but do mean to ny
that no one can give US any assurance
of getting it next year. Why? Let
US consider two contingencies. In tho
first place, we have had for two years
a short crop, which has been below
normal. Suppose We have q good crop
this year, suppose we have another
1911, with practically the same acre
age as in 1916. We grew 4.000, 900
bales more in 1916. Suppose we have
another bumper crop.
do you believe that cotton would
remain at 80 cents pound or higher
or anything like it? / do not. While
the supply for the last two yeaxs has
been about the demand, therefore, the
price has been high A bumper crop
would certainly give US q surplus
again, and there is no assurances that
the price would not then 60 down, but
there is something else to take into
consideration when you are debating
with yourself as to what you are
going to do this year.
Cannot Sell Cotton Abroad
This country uses the demand fer
cotton, and tins consumption Is about
eight or nine million bales at the out
SIDE. Let US consider that thus de-
mand keep up or even increase, but
the market tor the surplus must be
found abroad. Now 1 want to put this
problem before you, and that Is under
the stress of the tunes, with the I'M
perative demand for the shipping Of
war necessities, there will be no trans
ports available for the expectation Of
cotton next year, and if this should
De true, and it will be, in my judg-
ment, il the south should grow =
bumper crop, we would have In this
country q surplus of from four to
six million bales beyond any possible
means Of consumption in this country
for which would have to be found .
market and no way to get it abroad.
You know, if you read the papers, that
the president has practically put an
embargo on
you know that the nation 10 calling
on the country for mechanics and
workers Of all kinds to build ships.
You know that we are scanning every
section of the world to try to get
shippers. Why? Because it will take
every possible ship that could be
bought, obtained or built TO transport
our men, ammunition and supplies.
Above all, they must Be transported.
stop and think of this q moment
We have 1000, 900 men to be trans
ported! In addition to this transpor-
tation of men, it 10 estimated that this
year We must transport overseas
something like $500, 900 tons Of sup
plies. There will be no room for any
thing that is not absolutely necessary.
SO then, gentlemen. that, first leaving
aside all outside considerations from
the standpoint that we have always
considered it, there is nothing that
should tempt US to turn aside. on the
other hand, we should steadily 60 for
ward along the lines of safe and diver