The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1919-08-13
Making Enormous Profits Bu
VIII Not Pay Fair Price
For Cotton
OFFICIAL FIGURES
ARE MADE PUBLIC
Cotton Association VIII Demand
Action Against Manipulators
Of Market

x1CGiOA- 11Se11ASC NAcAA4 + SAe~COAo -
of Market
Columbia, Aug. s.-Fne following
was issued today by the American
Cotton Assertion:
81 The American Cotton Association
through expert representatives. has
secured detailed Information showing
the earnings of various cotton manu-
facturers in America since 1914. This
statement is truly startling. The re1;.-
lions between the Southern Manafac-
turers and the American Cotton Asso-
ciation have been extremely friendly.
We have not the renotest intention OF
erificizing them. However, with the
statement of earnings referred to
above, 1T is absolutely impossible TO
reconcile the price paid for raw cot
ton with, the profits made by the man
ufacturerS. These earnings n .pany
cases are stupendous and are certain
W a safe barometer in Judging. the
ability Of the mills to have palc.
higher price for the raw material we
mills for making enormous profits II
they have violated any law a.org THIS
Nne we are not even criticlZlng them.
At the same time, however, we DO feel
with this information before us. that
ethe producer was entitled to far
higher price than has been paid for
His product, and with information be
f6Se US concerning even recent earn
ingA we unhesitatingly state that the
producer IS not receiving a fair price
for raw cotton. These figures show
ing the earning Of the mills are abso-
lutely correct and official.
In addition to Information concern
ing the earnings of the mills, our rep
resentatives have secured a great deal
of information concerning manipuia-.
fions s. n the cotton market. These.
manipulations have cost the producer
millions. Drygocds continue to ad-
vance. The demand is. far greater
fIlan the supply Still. regardless Of
this, under the agitation, the price
for the raw material are beat down.
Il wouId seem that all laws against
manipulating the cotton market and
depressing cotton prices are dead.
Show US a single instance Of prose-.
cntion for depressing the price. We
can point to you many violations OF
the law of supply and demand by fla
grant manipulation. which resulted IN
undesirable depressions. Truly, some
of the manipulations are truly start
ling-a revelation. 1t is unnecessary
to refer to the fact that men who
have bulled the cotton market have
most invariably been prosecuted,
while men who have beat it down
have never been prosecuted. Why IS
this? What lis sauce for the goose
should be sauce for the gander."
Statistics secured from the very
best sources on production and con-
sumption render it impossible TO rec
oncile published statements showing
enormous surp1uses. Why is it thai
those SURPRISES fail to show ne
amount of spinnable cotton? This IS
Que to the fact that the producer IS
without friends.
Experts Of the American Cotton AS
sociation are working along all or
these lines and every effort possible
will be used to protect the interests OF
the purchaser. and a thorough and
official investigation would Eeyeat
startling conditions.
The large packers are today receiv-
ing what they are due. Why not
clean out the entire stable? 1T is
poor rule that does not work pofh
ways A man who boards food and
profteers upon it most assuredly
should be prosecuted The manipu-
,ators who beat down the price OF
cotton, which has been produced by
the toll and sweat of the farmer, most
assured;y in like manner should he
held to strict account. The packer
charges such a price tt the con-
sumer cannot buy. The manipulators
beat down prices to starvation figures
so the. producer has not the n1o!ey
: with which to buy. This is six OF one
and a half dozen Of anotner-no dis
tinction.. Remove the grip of the. ma
nipulator today; permit cotton to re-
spond to the law of supply and d.
rrand: many people Will think that
the days Of miracles have passed.
Men in their greed and selishness can
violate and manipulate laws, causing
people to suffer and escape punish :
rnent. However, they cannot violate
continuously the laws Of God. which
are Interchangeable. Artificial nlanipu-
lated supplies will not furnish cotton
to run the mills.
Watch the deterioration in the
growing crop. After August 18th.
firmly believe that God Almighty
takes care of the work. We are fac
ing the smallest Gro, in the last 25
years. With the present acute labor
conditions, it will be, impossible to
gather this crop except extremely
slowly. This will result in small
percentage Of good grade cottotn. We
are in the midst of the greatest infia-
ton in currency ever known in the
history of the world. The manipula'
tor cannot change permanently th@
laws of supply and demand; the laws
of nature in production: the law o'
Imitation: which are Interchangeable q.