The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1919-07-17

from the four last years consecutive
crops of American cotton than was
produced. The trade is overlooking
these startling facts.
According to the latest figures OBJ
tanned from the department of agri-
culture in Washington, the world S
production of cotton for the last four
years shows an enormous shortage as
follows:
Worlds production, 1915, 17,609,-
900 bales; 1915, 1S,095,O0O bales;
1917, 17,41O,O00 bales; 1918, (short-
age even greater than shown above.
Exact figures not yet compiled.)
The worlds consumption for the
last four years has exceeded the
worlds production as follows:
Worlds consumption, 1915, 49,
761,OOO bales; 1916, 21,011,O00
bales; 1917, 2O,1SO,Ooo bales; 1918,
17,7O1,0 900 bales.
It is our unanimous opinion that the
above figures are conservative; that
it will be necessary for the mills to
curtail production, in many cases
close down, before the 1920 crop be-
comes available; and that we are fac
ing a cotton famine. We "have rem
dered the above report upon true con-
dition and facts, and without bias, it
being our sole purpose to render a
correct statement.
Cost of Production.
The 1919 cotton crop expert repre-
sentatives of the department of agri-
culture, employed for the purpose of
making a estimate of the cost of pro-
duction of the 1913 cotton crop find
this cost is in excess of 80 cents per
pound, basis middling. The cost Of
production of the 1919 crop, that is
the growing crop, will be far in ex-
cess of the 1918 crop.
We are now engaged with the best
experts obtainable in preparing a
statement showing the cost of produc-
ton of the present growing crop.
This statement can not be complet-
ed until the season has become far
enough advanced to ascertain approx
imately correctly the production,
which will probably be ascertained
the first part of September, at which
time statement showing the cost of
producing said crop will be complet-
ed. We are conducting in every Sec
tion of the belt a thorough and pains
taking investigation, so as to show
the absolutely correct cost. With in
formation before us, however, we find
that this cost will be far above the
1918 cotton crop.
Acreage i'm 1920.
We are also working with leading
experts in preparing statement as
to the worlds needs for cotton for
the year commencing August 1, 1920,
These estimates are being made for
the purpose of establishing a mini
mum price for which the growing
cotton crop will be sold, and also for
the purpose of deciding upon the
acreage to be planted in cotton in
1920 and cotton will not be sold be-
low the minimum price agreed upon,
nor will an acreage be planted in ex-
cess of the acreage recommended.
A mammoth meeting of the Ameri-
can Cotton Association, with repre-
sentatives from every county in the
cotton belt will be held as soon as
these reports have been rendered, and
at this time minimum price at which
cotton will be sold, based upon these
reports, will be agreed upon; total
acreage to be planted in 1920, based
likewise upon this information, will
be agreed upon and not pound OF
cotton will be sold below the mini
mum price so established and only
the acreage agreed upon will be
planted.
Many of the European countries
consumed every pound of cotton avail
able during the war. Germany even
used all mattresses, cushions and
everything containing cotton, and
Germany is today in the market for
regins and linters to help replace this
shortage and help fill her great de-
mand for cotton. However, there
will not be even enough regins and
linters which went begging and which
we thought valueless to anything like
fill the demand.
Cotton is worth basis middling Is
cents per pound based on the price
for the manufactured product. Based
on supply and demand as, shown
above it will be worth the highest
price it has sold for since the War