The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1919-06-28
High Price Cotton
Inevitable
Mr. Wannamaker Urges Farm
ers to Hold the Staple as
Short Crop is Now in Sight

COlum bla. June 2Z.-ln feply ~
| kilograms and letters received from
not only every section Of the cotton
belt, but from various sections of the
cotton belt, j. Scotto~ Wannamaker,
president Of the American Cotton AS
sociation issued the following state
ment this afternoon:
The imitation Of the currency Of
the world which is the largest infia-
ton ever recorded in the history of the
clothe the naked European world
which has had practically no cotton
goods for four years; the fact that the
governments of the world are conce:l-
trating every effort for the purpose If
stimulating business enterprises IN
every conceivable way SO as to fur
nish the people with employment. and
also to furnish the government with
revenues for the payment of taxes
far in excess OF any taxes ever paid
in the previous history Of the world;
the extremely poor condition OF the
growing cotton crop throughout the
entire cotton belt; the acute and
serious labor conditions-all Of these
combine to make much higher prices
for cotton an inevitable certainty.
England today is paying over 40
cents per pound, basis middling for
cotton. The spinners have issued a
statement showing that the earnings
of the English mills for the first five
months of 1919 exceed by &c per cent
the fabulous earnings of any previous
period during the war. A number OF
European countries are engaged in
making financial arrangements for the
purpose OF enabling their people to
buv the raw material. Individuals,
firms and corporation throughout Eu-
rope are desperately engaged in ar
ranging financial matters TO enable
them to purchase products, especially
cotton The demand for cotton for the
European countries, IN addition to the
demand for cotton from every manu-
facturer in operation IN the world Tor
the purpose of enabling him to fill the
unheard Of demand on him for manu-
factured products, will carry the price
of cotton before this time next year
to the highest price it has touched,
probably, since it's Introduction into
America, certainly since the War Be
tween the Safes. Before next sum-
n1er it will be necessary for the mills
to run on short time.
The present generation will have
passed away before defation Of the
currency Of the world even starts to
nodities We have today in the main
show any result on the prices of COM
countries of the world two hundred
and twenty billions Of dollars III
bonds When the war started, these
countries had only forty billions Of
dollars in outstanding bonds. The de-
posts in the banks of the main coun
tries Of the world have increased from
twenty-five billions Of dollars to sew
enty-fve billions, making a net IL
crease of fifty billion dollars. The
currency of the world has increased
from eight billions to little over forty
eight billions Of dollars. The taxes
collected by the main countries Of the
world show that even an enormous in
crease over the taxes paid last year
will be necessary, hence the only solu-
ton in the power Of government Of
man is to furnish means for the people
TO become intensely busy, to fos-
ter and push business in every con-
ceivable way. Every commodity in
the world today shows q marked in
crease in price as compared with the
pre-war period. The increase in tbs
price of cotton is am ong the lowest.
New England spinners and certain
bear SPECTATORS have always fought
the price of cotton down, regardless
of how low it went. Even when cot
ton was selling at four and half
cents pound, basis middling, l have
records to prove that they still car
ried on concerted fight to depress
the price still lower. The same peo-
pie are today fighting the price OF
cotton Do not forget that these large
bear specala tors, together with GER
rain English spinners and New Eng
land spinners, have large amount OF
cotton sold for July and October de-
livery at % and % cents per pound
basis midaliDg. The mills must have
rho cotton Do not assist them to get
our of their predicament. They pur-
posels formed this combination with
=.DiS!lllOu Ol lilS PAlS~
Of spot cotton to twelve and half
cer7s, basis middllrg. We have the
cotton. They will be compelled to have
It. Make them pay the price.
do not forget tEat we have. passed
through four consecutive short crops
an1 that we are now on the eve OF
producing the shortest crop that we
have produced in the last twenty-five
years With present labor conditions
the acreage planted, the adverse
weather and the boil weevil situation,
a record breaking small crop is now
certainty With a continuance of
these adverse conditions crop calaln-
iry will face us.
TO sell your cotton at present
prices simply means that you viii
have lost the race and permitted the
bears to receive the reward. Mills to-
day in every section OF the world can
pay price far in excess Of prices
now being paid and still make hand
some profits Do not sell cotton but
hold II and receive the reward which