Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1918-02-22

produced and the crop raised last went upon
the market with the further fact we'll known that
last years production was between one and two
million bales less than the consumption OF the
year previous.
BEARS IN THE MARKET
We were confronted all through last year with
efforts to strike cotton down. Parties interested
to buy it tried to put cotton in the first embargo
list believing thereby to stop its rise and force it
down. |, among others, succeeded in preventing
cotton from being put in the first embargo list
Later northeastern spnners issued an address
to the trades board, claiming that cotton
being shipped in large quantities to Germany and
being used to make powder to kill American
soldiers. They demanded that an embargo be put
on cotton shipments to prevent its reaching Ger
many. They claimed in their publication that over
four million of bales had gone to Germany, and the
inference of their publication that this amount
going yearly.
In view of the wide publicity of these claims I
did not deem it advisable to resist the effort to
put an embargo on cotton when the second embargo
list announced. ] believed that we would be
prejudiced by appearing to selfishly. and that
it would be difficult under such circumstances to
meet the claim that we were furnishing the powder
to Germany to kill own boys although knew
a matter of truth that Germany getting none
of our cotton. and that Germany had abandoned
h using cotton to make powder at least two years
before that time. SO cotton put in the second
embargo list, and at once these same Interested
parties who wished to depress the price of cotton
to twelve cents pound began circulating report
that an immense market had been cut off by the
embargo, and that therefore, the supply would
exceed the demand. number of us exposed upon
others showed that cotton had been going to
Germany since the winter of 1914-1915, and that
the embargo would not reduce the price of cotton
! have sent a copy of this speech to many of you
and will send a copy to any one who drops me
postal card.
When the food bill was agitated in the first
copy it applied to cotton, but this cut out in
the house of representatives. When it came to the
senate motion was made to add cotton. The
friends of cotton deemed it advisable to let this
motion pass but then to add a provision subject
ing to control the prices of the manufactured prod
ucts of cotton; wool. and all manufactured prod
ucts of wool; iron, steel, copper and lumber. and
all manufactured products of the four. Having
put all these in the bill rallied the friends of
all and struck all, including cotton.
THE PRESENT STATUS
Now as to the present status There has been
for sixty days past active agitation of move
ment to fix the price of cotton. The purpose of
those originating it undoubtedly having been to
force down the price. This agitation
active thirty days ago than it is today. At once
those of us who seeking to protect cotton let
it be understood that if cotton was subjected to
price fixing. the manufactured products of cotton
must be subject to price fixing also, and that the
profits of the manufacturer would disappear
There was also at that time fear that cotton
might Jump to figure so high that it would be
impossible to it practically for manufacturing
purposes. 1t was believed by some manufacturers
that the price of cotton would rise so high that
the mills would all be compelled to close down,
and this fact Influenced some of them thirty days
ago to advocate price fixing They now realize the
folly of such course. From what can learn the
sentiment of cotton manufacturers today is against
fixing the price of lint cotton.
| am intensely opposed to any interference with
the cotton market by the government No one
knows what it will cost to raise this year cotton
crop No one knows what the size of the crop will
be- The farmer does his work, cultivates his land,
buys his fertilizer, incurs the expense of producing
his crop. The cost this certainly will be high
even though the production per acre is good. Now
if the production per acre should prove small, then
all this labor would go into the cost of the crop
and the cost per pound of raising cotton might be
much higher than before. If the size of the
is q
price to give him just return for his labor. If
the crop is large, then this fact will prevent
very high price and certainly render unnecessary,
even in war, governmental interference.
I think any danger of interfering with last
years crop has past believe we will have
fight the effort to in some way control the
price of this years crop. It will probably come
in the shape of endeavOTing to license all buyers
of cotton and thereby control their conduct. ! am
intensely opposed to anything that will interfere
with your receiving for your cotton whatever the
demand iustifies and 1 wish to assure you that
there are those of in the senate, and in the
house, who will exhaust our efforts to serve you
In some way will succeed
This is the message wish to carry to you. But
let me say further that I do not mean by this to
encourage you too much to depend upon big price
The world is in a condition where one can prop
erIy Judge of the future The money market may
be so depressed by next winter that the demand
for cotton manufactured products will be very
small, and the supply of resources may be so lin
tied that it will affect the price. The demand for
men to manufacture implements of war and ships
may so great that cotton mills will be forced to
run on short time. All these elements create
state of doubt about the value of the this next
fall and safely give opinion.
URGES ECONOMY
| wish to urge you to economic in every way
possible Do not waste a dollar that you have re-
ceived from last years crop. Prepare for hard
times. Raise foodstuffs If you only raise what
you need eat and have all you and yours need
to eat then you ought to be we'll fixed. Your cotton
brought enough last fail to pay your debts, most
of them. Raise all the foodstuffs that the people
of your county and of the whole state eat and
to iC ic 10 SAFE n OF
ing YOU this advice know am making no mistake.
Let YOUR cotton be surplus crop. If it brings in
the fall a price which satisfies you, then you can
sell it, If price is too low and you have raised
YOUR own foOdstus. you can keep your cotton, or at
least part of it, until the price brings you pront
1t is to say this much anything else am writ
ing to you.
Now in conclusion, l wish to say another thing.
The war will take sacrifices. voted for the war
because Germany had announced her purpose to