The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1919-08-30
COTTON PRICE
MEETING CALLED
American Cotton Association
VIII Meet in New Orleans
September 9Th.
A MINIMUM PRICE TO
BE FIXED AT MEETING

Purpose is to Put Cotton on
Same Basis as Other Com
modities
Columbia, Aug. 2s.-Announcemen
that meeting of the American Cot
ton Association would be held in
New Orleans on September and 9
for the purpose Of fixing a minimum
price for cotton was made by J.
Skottowe Wannamaker, president of
the American Cotton Association. in
an address here Monday:
This meeting said Mr.. Wanna
maker will have a far reaching eff
feet. A number of the leading men
of the nation will take a prominent
part The matter of supply and de-
mand, the price of the manufactured
product and other, topics will be dis
cussed A minimum price based
upon these considerations will be rec
commended by the association
President Wannamaker touching
upon the work of the American Cot
ton Association declared that two
hundred leading men of the South
with national regulations, men who
stand at the fore front in the busi-
ness and professional life Of the South,
have recently authorized that their
names be added to the organization
beard of the American Cotton Asso-
citation and have stated that they will
use every effort in their power to
push forward the organization of the
American Cotton Association.
There is a law of economics" said
Mr.. Wannans ker, which is as un-
changeable as the law Of gr -vitation.
that an increase in the money circu-
laticn decreases its purchasing power.
We are in the midst Of a record
breaking imitation. Based upon the
supply and demand, the price of the
commodity viii be increased in pro-
portion to the imitation, plus the in
creased demand and shortage in sup
ply, or minus the shortage in de-
mand of the principal countries of
the world before the war was eight
billion dollars.
Amount of currency in circulation
in principa, countries of world be-
fore war, $4,000. 900, 900.
Amount of currency in circulation
in principal countries Of world today
s4e. 900 200, 900.
Population of world estimated now
at 200. 900.
Bonds: Bonds issued by principal
countries of world in 1913, $4,000
10000
Bonds issued by principal countries
of world during war. $3.50, ,00o,-
900.
Ecncs issued by principal countries
OF world today, 1920, 900. 900. 600.
Interest: Interest or n2tionai debt
Of principal countries Of world be-
fore war. 5000. .0Ge.on0.
Interest on national debt Of princi-
pal countries Ct world today. 10000
, 600 ooe
| Taxes: Taxes principal countries
of world before war. $1,000, 100000
Taxes prircipa! countries ~cf world
now. s5o,oD0. 100000.
! Bank deposit: Bank deposits. prin-
cipal countries of world before war,
! $4,000. .oo0. .ooo.
Rank deposits principal countries
Of world today, rs, 00.o00,000.
Imitation based cn world Cur
rcncy, $500 to 500; bonds. $3.50 to
81 90; deposits, $500 to s1.00.
Cotton was thirteen cents per pound
just prior to the war. based upon
| currency imitation alone. to say moth
ing OF the other items that enter into
imitation alone. and to say nothing Of
supply and demand. it would be six
times the price prior to the war. or
! seventy eight cents.
The supply of cotton. in the world
as shown by the agricultural depart
ment and Hester prior to the war.
was little over twelve million bales.
The amount shown by Hester now
includes bollies. re-gins. linters and
rotten cotton is $500, 900. The de-
mand today is far in excess Of the de-
mand before the war. In fact, it IS a
record breaking demand for all cotton
goods. We are facing the shortest
crop made in a decade This Euro
pean demand. regardless Of the vast
amount Of bear Information being put
out by the nlanipulators VIII require
an enormous, record breaking amount
OF cotton as soon as the peace treaty
has been signed. The United States
government statement shows the fol-
lowing facts concerning Europe:
(a) Securities: American securi-
ties owned by Europe in 1914. $500,
100000.
We have purchased these securities
and in addition have made our po-
sition stronger today by $4,000, ,00o,-
900.
We have loaned to Europe s10,~
900 900 0na. and purchased back 81
500 900 900. and IN addition puchas-
cd $4,000. .0Oe. 900 Of their securities.
making total of SIS 900, 900, 900.
National debt Of the United States
before war. S1.2S2 944,34G.
National debt. March 81. 1919
latest figures available) s24,313.-
( Q10oE2