Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1919-09-09
Narket1ng Of C0tt0n Crop
Is Great National Question,
Says Senator HOke Smith

''hnacial freedom" of the southern
farmer. The hostile influences of
end. The cotton producer has only
to declare his independence, stay
away from markets that fer unsat-
isfactory prices, and serve notice on
a world waiting to be clothed that
the producer of cotton must be com
pensated.
He explained that before the war
began 12-cent cotton meant an in
come of about 1925 per year to a
family consisting ola man. his wife
and three children. Three times that
price today, with after-war condi-
the increased cost Of production. an
income smaller than that paid for
work requiring the same intelligence
in the cities.
Gives Figures
Senator Smith criticised the old
policy of marketing the cotton crop
as fast as it was gathered. eff your
present crop is offered for sale only
as the manufacturer needs it," he
suggested, cit should easily command
a price equal to the best it brought
the past, twelve months,
he added. would inspire farmers to
organize and prevent a sacrifice of
the crop through untimely sales. The
farmer, he said, must learn to or
ganize with his fellow and bring
about a new declaration of independ-
ence.
Taking the government estimate of
supply on hand July LIST, and deduct
ing the cotton which will be used by
the mills up to- October 1st, with
that required continuously by the
mills, Senator Smith conservatively
estimated the available cotton for
the year beginning in October and
inclusively of the left over from this
year. would be a total of 13.5S1,000
bales-an inadequate supply for
prospective demands.
Senator Smith went fully into eS
tiInated consumption, showing that
four years prior to the war the Unit
ness of 9,448.000 bales. At low es-
innate, he figured. the export bust
ness for the year beginning October
list would be at least $500. 1000, which
added to the conceded consumption
of American mills of 100000 bales.
would make total of 14,500,O00
bales, or a full demand for the en-
tire supply.
With a grasp possible after years
Of study of the subject, Senator
relating to foreign exchange-the
necessity that Great Britain and
Germany shall manufacture cotton
shipped abroad, and Germany's abil-
ity to pay for cotton with it's sup
plies of potash needed by the United
St9 tes.
The Georgia senator also discussed
trade conditions in general, the re-
lease of ships for commerce, now
that the army has been brought back
home-the restrictions of the War
Trade board that have now been re-
moved, meaning the government
agencies cannot interfere with COM
merce during the coming year, the
increased ability of farmers, mer-
chants and bankers to finance the
cotton crop. He again uttered a
warning against premature market
ing. and stressed the Importance of
organizing the farmers in their own
defense
THE law of supply and demand"
said Senator Smith, will bring fair
profit to the farmer if he will do
his part, and the days of 'pauper
compensation which were with the
south in the days preceding the war
will never return.
In closing his address, which was
that of a legislator who has long
studied the cotton situation, Senator
Smith said
During the past year cotton sold
in the early part of September for
about SS cents pound. Adverse
influences depressed the market, and |
it went down to below rs cents a |
pound. The market will fluctuate |
again this year. Do not be fright |
ened by fluctuations. When the mar
ket goes off, keep your cotton, as
all your cotton will be needed for |
consumption during the year. If
you respond to fall of price by
keeping your cotton, you may be
sure that the price will advance. |
Never sell on a declining market. |
If you. do not let it break your
nerve, the price will return to just |
value.
THE cost of producing the crop !
the present value of lands. the rela-
tive value of other commodities, the |
law of supply and demand, applied
to the present crop, justify better
prices for cotton during the coming
year than any received during re-
cent year.
In the meantime, while gradual
ly selling your cotton, plant food
crops, and raise cattle and hogs.
Let the world understand that you
will meet the situation again next
fall, Independent and owning your
cotton"