The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-01-16
WILL FARMERS TAKE NOTICE?

1t is never pleasant for a newspaper in the cotton belt to
record declining prices for the staple, but it frequently has to be
done, Naturally the preference is to see advancing prices for
what to a large share Of its readers is a chief source of financial
return. There are times, however, when declines are not without
value to the man who grows the crop, especially to him who
does not make an individual survey Of general conditions and
look far enough ahead to consider what they may be when he
has another crop ready for the market,
The present decline in prices, although as yet it has not
extended very far in the spot department, may be one that will
have salutary effect though it may take an optimist of the first
water to thus view it, The time is not far when plans will be
made for another crop, for there is much more to producing a
cotton crop than mere preparation OF the soil and putting seed
into the ground. The wise farmer will carefully outline condi-
tons in his own mind, and look to the probabilities of the future,
allowing for surprises and miscalcuations but providing we'll
for those things which he is certain will happen,
\ Just at this time the South has a considerable supply OF
utInsold cotton The statistical situation is not encouraging to
him, for the spinning world has been letting the South carry
the burden, supplies having been bought in hand-tomouth fash
Jon tor a long time. The coming OF peace has not been accom-
panied by any rush to buy cotton, as many very smart people
predicted, and signs are lacking that such will be done any time
soon. The adjustment process is slow, and in the meantime
there is a widespread feeling that deilation must be felt in cotton
as well as in other staple lines. The fact that grains and food
stuhs seem to be the exception is attributed to peculiar reasons,
one OF which is that the government guaranteed, as a war
measure, a price for wheat, thus helping to sustain prices for
the others.
Without attempting to 90 into discussion of the probabii-
ties in the price Of cotton, the fact remains that lust at this
time the bears seem to have a distinct advantage, and price has
gone down, and ii something does not happen soon to change
the tide 1t will 60 even lower.
Self-proteCtion should prompt the farmer to plan his cotton
acreage to be smaller, with more food and fodder crops, The
more independent he is as to his supplies the less he will be at
the mercy of him who buys his cotton. Moreover, notice from
the South that cotton acreage will be reduced will 60 a long
way toward serving NOTICE on the spnners and their friends, the
bearsh SPECTATORS, that prices have gone low enough, and the
man who owns the cotton will dictate the figure at which it
may be obtained.
The best time to do this is now, before the confidence Of
the man carrying unsold cotton is shaken, and he has 70 FACE
a loss on what his crop actually cost to produce. Ii would be
a wonderful stlmulant to the market, and would no doubt mean
immediate as we'll as ultimate additions to his financial returns
IT the spinning world becomes convinced that a big cotton
acreage is to be planted in the spring there is little basis TO,
hope to prevent prices from going lower than they have been fol
q several years.