The herald and news. [volume] (Newberry S.C.) 1903-1937, 1919-02-28
HOLD COTTON, REDUCE
ACREAGE AND FERTILIZER

Columbia, Feb. 27.-There are many
persons who believe that the cotton
situation just happened. They do not
investigate for themselves and have
not the means for finding causes. j.
Skottowe Wannamaker, chairman OF
the State central cotton committee,
declares that there is deep, underly
ing cause. It is not a matter of acci.
dent that certain things happened
last year which caused cotton to be-
come parish in the world of com
merce. If there had not certain causes
we would not have the serious ef
Lfects today, and the South would not
be facing the gravest commercial
crisis in her entire history. In dis
cussing the things which have had
their impress upon the cotton market
Mr.. Wannamaker says:
You can buy cotton on the New
York exchange for around three and
one-half to four cents per pound
cheaper than sou can buy it in the
South. You can buy cotton on thc
New York exchange for July delivery
for below $50. points less than you
could possibly buy middling cotton in
any town in South Carolina. Accord
ing to every rule and reason July cot
ton should be at least this amount
above spot cotton TO cover carrying
charges and transportation. What
think you of this as an Illustration o.
the manipulation of prices? If the
market had not been manipulated the
price would have been record-breaking
high.
"It is necessary that there be a
buyer for every seller and you can
rest assured that this rule is being
followed today. The same !. cotton
which is being sold and depressing the
market is being bought by some one.
Investigation shows that foreign mills
are quietly accumulating contracts
from our friends up, North, and the
japanese are doing the same thing
and that the domestic mills of Ameri-
Ca are largely falling in line. After
the campaign for reduction in acre
age and fertilizer has been completed.
the bears will commence to display
nervousness.
However when the mills com
mence calling for the cotton they have
bought on these contracts during the
midsummer, and next fall with the
small crop for the year OF 1919, which
is absolutely certain with the reduc,
iton of acreage and fertilizer and the
acre shortage of labor the bears will,
in many cases join the German hordes
who have passed to the other side
and while cotton likes warm climate.
in all probability the country which
they will visit, will probably have a
climate far too hot even for the oper-
alton of a New York exchange, to say
nothing of the reduction of cotton.
Hold your cotton, reduce your
acreage, reduce your fertilizer and be
a loyal son of the South and prepare
~ reap the reward which is certain
This is the greatest movement that
has ever been undertaken by the
South, and it's result will be far reach
ing. 1t is said that "The mills of the
gods grind slowly and they grind ex'
ceedingly fne.' The truth of this
will be illustrated before we com
mence picking cotton next fall.
'In all fairness and justice, what
right have gamblers of New York to
set the price for our staple crop? Is it
fair that they should operate a game
of haads l win, tails you lose under
protection Of the law and run the
price down and up to suit their own
sweet will and forget and ignore the
fact that we have put our all in addi-
ton to our life's blood in producing
the staple of which they are making
plaything and a gambling instru-
ment. :
Don't forget that every State in
the cotton belt is behind this move
ment and that it is being backed by
the entire business interests OF the
South, and that we all realize that is
the turning point of commercial life
and are determined to have CONNER