Roanoke Rapids herald. [volume] (Roanoke Rapids, N.C.) 1914-192?, 1918-12-06


speak from accurate and frs.hand information
n making the statement that there has NOT been
m'm The beginning nor IS there now any set
IMPOSE or desire to fix cotton prices There hHs
nc been from The beginning nor is there nov the
'hlet among those in responsibility that price
king viii he necessary us 4 war mrit>urr-epr.
'iny Il never waS contemplated nor could II b.
justified on any other basis Il has been con.
uttered only as II possible necessity dependent
ip"n the information to be gathered
But there are several reasons cor Il cotton In.
pnry.
In the first place, there have been marked
1ucrhtlous many times during the last few
rpnths. md more or less since the beginning IT
f'e European war without iuStifyug economic
fihSons Repeatedly the market has risen more
rnn n hundred points aud reactpd as much Or
rOre within few hours There have been vlo.
Int Breaks, reminding one Of The slump at The
fo,break Of the war and In no single ease has
re movement been justified hy any real fnc u
fade Importance. All such irrational fluctuations
uR extremely hurtful to producers and Legitimate
finders and manufacturers
IN the second place, often and almost con
fauously during the las; few months contract
Rotations have been out Of normal relation Ia
got quotations-and generally have tended 70 de-
,-ess 10 discount the trade value of real cotton
In the third place the prices Of cotton goods
lave been advancing for four years OUT of all
g~oportion 70 the prices Of cotton Contrary 20
Jopulnr impression outside Of the cotton belt cot
IN prices are not ont Of line with prices of other
yaple commodities. For instance. on July |, 1914
81 average price Of wheat TO the farmer was
n;0 cents; on September !. 1913, under govern
rent control II was S2.05-nn Increase " l67 per
rsnt. on the same dates the prices of cotton were
~ and 822 cents-an increase OF ldD per cent
The average increase on farm products has not
zen 80 great hut the average Of manufactured
r-vducts Except those regulated under war pow
srsJ has been as great or greater. One Of the
lost interesting comparisons is found in the prize
Il cotton goods. quote from Bradstreets.
Wholesale Prices Of Cotton Goods
Aqs aug Aug .
>nt cloths CAS- Boston ........... soo3I5 pQs solt
nc..TS 'G sss..I bs ssae Boston, Ss75 Is
-Here are Increases OF from 2o1 10 $50 per cent.
SIN the fourth place. 1t developed few weeks
$40 that there is rather n scant supply of cot.
IN OF the grade of mlddling Of 1-nch TO l-18-
neh staple and an abundance Of low grade cotton
~, the one hand and extra staple tsuch as Art
Dna, Georgia and Florida Sea lsand) on the
,rier The European countries were In the mnr-
xgt for the small supply Of middling and the
,,.aculators were contracting for It, while the
PRODUCERS of low-grade and eXtra-saple cotOns
felnd few buyers The cotton market was out Of
fcnt Several months ago the department of ag-
-i-uture foresaw this precise situation and urged
sfrn modification of war goods specifications in
sr-ler TO increase consumption II low-grade cot
lnrs. but It takes long time 10 readjuSt com
nsrcial and manufacturing customs because all
Ifu are prone to maintain habits, and spnners
,r9 nverse to mourning trouble or reducing prN!ls
SBut when the new crop began to come 10
ur rket the war industries board deemed 1t neces-
Kay TO take some action for adjustment.
Chairman Baruch OF the war industries board
do me the honor to consult me, In the absence
ut Secretary Houston, about the details of the
eli,a he had decided to adopt by constituting a
snsrmittee of inquiry and committee Of dlstribu-
Soa For a quarter Of century have given
xee or less study to the economic aspects OF cot
81 TOT and cannot recall time when the cotton
,sr-ner was Injured by the revelation OF the
xhAe truth about cotton supply and demand, He