Arizona republican., 1919-02-20

used until the 1919 crop is grown, is | taking some chances. The buyer nat Urallv believes in playing safe. Finan- ciers frankly advise growers to hold their cotton whenever it is possible or
 to sell just enough at current prices to enable the balance to be carried.
 So far we have considered the sit uation from this side of the Atlantic | alone. We have forgotten that it was
 rot so long ago that the price of cot ton depended not so much upon the ! crop in America as upon the markets ! of Europe. In other words the price | of cotton was fixed in Liverpool and
 not New York or Boston-or Phoenix What will happen when the spindles ! in all Europe begin again to whir as | they will when those who have been making war and munitions of war turn | again to producing the essentials de- manded by peaceful people. Mir. Brand l has estimated that the demands of | Europe will call for at least 2.0O0. 000 i bales moro this year than last year. | Just what proportion of this will be
 long staple and how great the demand
 for the extra staples will be as com pared with the short staples probably
 no one knows
 The production of Egyptian cotton in l Egypt for the past ten years or more has been someth.fg over 100000
 bales annually with the exception of one or possibly two years. Figures l showing the exact number of bales l available of this years and previous years crops have not 1b far as have ! been able to learn been made public. Owing to lack of shipping facilities it is presumed that there may be a con- siderable amount of cotton, possibly l z.OOO,OO0 bales, maybe more and per-
 haps less. that will be no inconsider-
 able factor in determining the price Of long staple cotton. As previously
 mentioned, the imports of this cotton
 into the United States were restricted
 to 12O.000 bales for the season of 1918.
 Will the government place further re-
 5trlctions upon imports of Egyptian
 cotton partS' as protection to
 American growers of this staple and partly because for many months ship
 ping is going to be badly needed? That
 Is one of the unanswered questions
 that make the future price of cotton uncertain. There is a possibility and
 this amounts to a belief among some of those in close touch with eastern mark
 cts that English mills will need every pound Of cotton that Egypt has and this brings us back to the question just
 suggested, will Liverpool again con-
 trol the worlds cotton prices?'
 | After all the controlling factor of the price of any raw product is the demand
 of the consumer for the manufactured
 product and the chief factor of the | consumers demand is first necessity
 and then price. The long staple cot tons whether the Egyptian, American- | Egyptian or Sea Island. have been used
 in the more expensive fabrics, knit goods, laces. mercerized goods and au- tomobile fabrics. To a comparatively | few these products are necessities: .o
 the great majority of people they arc | luxuries. In these times of high prices the tendency has been to substitute, t.
 a far greater degree than formerly
 something not just as good' but some thing cheaper. Many who could afforj II the luxuries of life have found it nee II essary to substitute cheaper things ', II @ very considerable extent Manufac-