Pine Bluff daily graphic., 1919-02-02

ana II th1 south cOud Sncceed in hay ing ocean freight rates reduced tG level that would induce foreign coun- tries to buy, the showing for the sea- son would not be so unfavoRable
 Massrs. Beer & Company also say that if the spot holders will just hold out while longer they will win
 We do not think we coud present a cfearer Or more able exposition of the situation and suggest better remedies were we to look the world over than the following brilliant communication from Hon. w. B. Thm2sn, cotton fac tor, patriot and stateman of New Or leans:
 Editor Cotton and Cotton Oil News:
 New Orleans, Jan. 20-The cotton situation, although complex and to a certain degree perilous, is by no means hopeless. On the contrary, an intelligent grasp of the fundamen- tals of the problem and determined application of the remedial means at hand will, without any sort of doubt, save the situation and insure remunr e-ive prices not only for the stocks presently held, but for the coming crop as well.
 The Campaign Against Cotton.
 In spite of the fact that four short crops have been produced in success sion; in spite of the fact that the sur- plus over from last year was by no means abnormal, but nooderate;' in spite of the fact that the exceptional ly bad weather conditions which have prevailed during the fall and winter, conjoined with the field labor shortage, the influenza epidemic and the delays and gross neglect of the transportation agencies, have through actual loss i'll the field and damage by exposure still further reduced the amount of cotton available for tho wants of tte world; and ill spite of the fact that the foreign mills are practically destitute of supplies and the American spinners have stocks sufficient for only q shor. rerio,l ahead; in spite of all these factors of danger in the supply situation, which should logically aarm the spinning world, We find the spinrers' demand not only extraordinary aX but, in the case of our foreign brethren, we op- serve the astonishing development that the English market which is practically bare of cotton, has been constant heavy seller ill the mar kets of America, where cotton, for the time being, is plentiful.
 The explanation of this illogical be- havior on the part of the shipping interests is sadly obvious. The in- terests in question, realizing that they must have cotton which is now being held iby the farmers and merchants of the South are bent upon stampeding these holders into parting with their cotton at prices greatly below the cost of production and ruinous to them, in order that they, the manu- featuring interests, may increase their already internationally swollen profits. In it's efforts to demoral- ize the spot holders and produce a cotton panic, the trade interests aforesaid have been ably supported by crowd of bear spectators who care nothing for teh depreciation of the great American product nor the distress of great division of the people so long as they can can make money thereby. These latter are the would-be corpse robbers in the play
 GarrOte!
 The first great effort to sandbag the spot holder was made immediate ly after the signing of the armis- tice by the nations at war. The farmers and merchants. staunchly supported by the bankers of the South. refused to be stampeded, ig- nored the wolf" cries of their en- emies, and retained firm hold upon their property. It is matter of re- cent history how the raid in question was repulsed, but it is a matter of still more recent fact, that the raid CTS, although defeated, were not al- together beaten.
 Predicated upon the discourage ment of the spot holder caused by the array of interests and circum- stances against him. and aggravated by the export situation, and the inn minence of new crop preparations. the cheap cotton mercenaries have chosen this as the psychological mos ment for another sand bagging en- deavor. This attack can be frustrat- ed as effectually as was the. former, but in this case somewhat more than mere fortitude is required Then it was necessary only to hold: now 1t is necessary to hold and strike back.
 If spinners and bear speculators are