The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-02-06

, THE PRICE or COTTON Z


To The News sclmltar:
| am receiving daily many letters
from people Of Mississippi and West
lohnessee, asking my opinion OF the
cotton situation, what caused It's de-
cline aud the prospect OF a rise in the
prices"
am going to ask permission to use
me columns Of The News Bclmitar to
answer briefly this inquiry.
IL Ia doubtless fresh In the minds OF
your readers what occurred early in
son gave out the statement that II
vas his purpose ITO stabilize the price
OF cotton" Following that statement
Of the president, the cotton market
broke ana the price whom down ma
trfially, A number Of us called q hur-
and representatives, at which meeting
Mr.. Bernard Baruoh, the head OF the
war trade board, wal Invited to confer
with US.
In the course Of that conference Mr..
haruch stated RS an excuse for the
prices" that the North was demand
ing cheaper cotton" or TO use his
anguaEe, cheaper shirts" He also
tated I'VE had agreed or promised to
give our allies cheaper cotton" ! sug-
gosted Ia hun that cheaper cotton or
NV NENl'pHFu HliDlllhhllDN OF pTlGNH,
az the president e~uphoniously put II,
would not give the Northern laborer
cheaper ahirtH, since there was no pur-
lose on h part OF the administration
to fix the price Of the fabricated ar
iolc, but that the only thing that
would be accomplished by the unwar-
Rnted executive interference with the
law Of supply and demand would be to
over the price OF raw cotton and there
by reduce tho profits OF the cotton
grower and, OF course, increase the
Nrofltn Of the cotton manufacturer.
said further, Replying to your BuG-
ieltion that we have promised our. al
81 fair to reduce the price on II or IL
million bales Of cotton In order to get
iour or five million bales OF cheaper
cotton for our allies III" | stated,
The United States government desires
o make u present 70 our. alice Of four
or five million bales Of cotton, Il
should 70 into the market and buy
,hs cotton At the market price, a price
fixed by tho law Of supply and de-
mand u%nhindered l said, ''Thnt
Nhile ! think II II unjust for the United
states TO a the American people 70
make this present to our allies, still
4 tho president desires to do 40,
a4btntt tina! It is not fair. to put tbs
whole harden OF the gitt upon the
cotton growers Of the South"
Whom England desired to give her
r~lti2ena cheaper bread she did not tax
tho wheat growers by fixing a low
price on wheat, she bought the wheat
Ia the open market and her sold II e
he people at less than II cost, Mr.
Paruch seemed 10 recognize the fore,
u my suggestion, and then protested
hat 1t was not the purpose of the ad'
mlnlstration to fix the price Of cotton
hut rather to ~''Rtphili1o It" or course
| an rnAAnnnhlA Hanh YAanp1A hnlnR9ta nd
that u IN not possible to stabilize with,
out fixing the price, and the purpose o
thls peculiar brand OF athblllIation wa,
to lower tho price which the farmer
was 10 receive for his product,
There were two Ideas and purposes
In tho mind Of the president First, h.
wanted to carry the election for thu
Democratic In. November, and h,
thought tAht by penalising tho South
ern cotton grower by holding down tn,
price OF cotton he would win votes o
tho non-cotton producing people OF IN,
North and second, | really think h,
wanted to give the pllles cheaper cot
ton, because | think he is quite Al
much Interested In taking care OF tn,
allies and promoting the material nm,
social welfare Of the people Of Europ
as he IL IN tho people Of tho Demo
cratic South OF the United States,
II was understood up here that tn
sohe,no by which this matter was /
be effected was that tho presIden
should appoint n cotton buyer for a
Of tho allies and authorize that ma
to 30 into the market and offer a Ger
tain definite price for cotton, white
would be the price fined and the prize
paid for all cotton for export, and tn
export price would fix the price {
; cotton to he used by our domesti
manufacturers, But the scheme wa
, act carried out In tho open, Tor tn
: reason that Baruch and Secretary c
Agriculture Houston, we are advised
! told the president In substance II sue
!, a high-handed, Illegal, unwarrante
and damnRhle thing should he attempt
: cd II would almost cause Il rcvolutio
IN the South So with characterize
dtstnpenaousness, the president pre-
Ceedcd 60 accomplish by indirect meth
DDS that which he would not dare TO 4
directly, and In the open, From this
day 70 this cotton has gone down q
= the result OF the naturalization of fore,
, N the hands Of the ADMINISTRATION, as
l sisted, OF course, by the manufactul
era OF America and the spectators
Wall street,
The supply of shipping facilities he
boon limited and Is limited toda,
Great Britain has seen to Il that on
enough bottoms have been supplied
carry cotton to .Europe which wou'
lecturers, n the shipping board h,
y acauleseed In H. The supply OF cote
to northern nations Of Europe has be,
limited In the name OF patriotism az
for war purposes, Oh, II makes n
sick TO see these Internal scoundre
S rohhlng the American cotton raiser (
their " personal ACKNOWLEDGMENT
Nthe name Of patriotism, and Il Is mo