Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1918-12-12

/ speak from accurate and ~trst.hand information
in making the statement that there has not been
from the beginning, nor is there now, any set
purpose or desire to fix cotton prices. There has
not been from the beginning, nor is there low, the
-eiief among those in responsibility that price
liking will be necessary as Il war meaSure-cer-
tainly It never was contemplated, nor could 1t be
justified, on any other basis. It has been con-
-siderel only as n possible necessity, dependent
upon the information to be gathered.
"But there are several reasons for a cotton In
,luiry.
"In the first place, there have been marked
fluctuations many times during the last rev
months, and more o. less since the beginning OF
the European war. without j~ustlfying economic
reasons. Repeatedly the market has risen more
than a hundred points and reacted as mnch OF
more within u few hours. There have been Vlo-
.!ent breaks reminding one OF the slump at the
outbreak Of the war, and in no single case mas
the movement been justified by any real fact OF
trade Importance. All such Irrational huctuatiohs
,are extremely hurtful to producers anu legitimate
traders and manufacturers.
am tho second place, often and almost con-
,tinuously during the last few months contract
quotations have been out OF normal re'auoh ~
.spot ouotations--and generally have tended 10 de-
press or TO discount the trade value or real eouon'
I'm the third place, the prices OF cotton soou,
have been nuNl1VlHS vi I'" sN"
,ronortion to the prices Of cotton. contrary u
,.,,rn,,r imnression outside of the cotton belt, COZ
tnn ,,ires ore not out of line with prices OF other
.rtonle commodities. For instance, on Jul! J. 1914
Tho average price Of wheat to inc 1ar"ieF was
zeo cants. on September /, 1918, under govern
mont control. It was $205-an Increase OF lo' per
cent. On the same dates the prices OF col.o" va
1914 and 3D. ccDts-an Increase OF ioo per ee"'.
rTho average Increase on farm products has NOT
-.A l,$ thn - rn OY lnNIllttluIC W
products Except those regulated under war pow
orc, has been rs great or greater. one or the
mos, interesting comparisons is found In me pfice
of cotton goods. ! quote from Bradstreets.
Wholesale Prices Of Cotton Goods.
Ans !, Avg l. A ,ms T.
Ar,n, "iio;hs, cas- C,os,on, ............. sons.2 *'1s 'asss7n
.i;;t,nHn,a..i Sh.s,Ins M' s,,S,, ,nYsi.n;: . 1913 Il IS
.,,o,o oo increases of from 26l to $50 per cent
SIN the fourth place. 1t developed a rev weeNS
moo that there Is rather IL scant supply OF COY
Ton of the grade Of middlins Of Linen 10 lilo
snch staulc. and an abundance Of low'grhde cot.o.
an the one hand and extra staple (Shch as All
,zorn Ccorgin and Florida Sea lSland) Oh '"'
other The European countries We're IN inc 'n"r
kat for the small supply Of middlins ana tn'
,sneculntors were contracting for II, WINE ''
,nroducars Of low-grade and extra.stapie coN,oh
,snund fow- BUYERS. The cotton market was out o
fOfnt EpteruI WDIlHS us' s~
.aar,,.,rn foresnw this precise situation aud urge
,+ho ,nod,0cation Of war goods specifications !
.,rder "a Increase consumption OF low-gradc COZ
TONS Int II takes n long time to rendJust con
,,orc,al and manufacturing customs. because n
men nre prone to maintain habits ana Spinner
;nrc aycrse to mourning trouble or reducing pron. !.
"eu. when the new crop began to come I
market the war Industries board deemed IL ne'e'
.sorv 70 take sonc action for adjustment.
chairman Inruch Of the war Industries pom
I'D mo thc honor to consult me. In the apsen.
Of Secretary Houston, about the details OK !.
MAN he lind decided to adopt by constituting
committee Of inquiry and a committee OF distr ,a
ton. For a qunrter of a century ! ms' g ;. ~
mn. and 1 cannot rccall n time when the cot.,
farnner was injured by the revelation o. !,
whole truth about cotton supply and demand :