The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1919-10-15
in
COTTON GRADES
IS ADVOCATED
STABILITY OF MARKETING CON-
DiTiONs GREATEST THING TO
BE DESIRED IN COTTON TRADE
WORLD CONFERENCE Is TOLD
BY U. S. MARKETING EXPERT.

New Orleans, Oct. disability of
gle thing 10 be desired in the cotton
trade, and it is not to be attained with
out worldwide uniformity of clasifi-
cation. This statement was made by
D. S. Murph. cotton marketing expert
Of the United States Department of
Agriculture's bureau of markets, be-
fore the World Cotton Conference in
New Orleans today A fair measure
of uniformity. he pointed out, has been
attained m the United States as 81
result of the grades and standards
fixed by the federal cotton futures
act, but in world trade no such uni
formity exists. The nomenclature of
American future and spot markets is
not identical with that in Liverpool
and other European markets. Ameri-
can exporters, and many other persons
dependent in one way and another on
the cotton trade. are forced to trans
late Liverpool into American terms or
American into Liverpool terms, with
resultant confusion, uncertainty, and
loss
Mr.. Murph expressed the opinion that
it should not be particularly difficult
matter to bring about world wide uni
formity in grades and types. He
pointed out that the thing was nearly
accomplished in 1914. before the stand
ards under the cotton futures act were
promulgated, but that some slight
complications delayed final ratifica-
ton of the agreement until after the
standards We're promulgated, and the
plans were overturned
1t is to the interest of every per-
son directly engaged in the cotton
trade. Mr.. Murph asserted, to aid in
the effort to secure uniformity The
uncertainty that now exists, he said
makes it necessary for the buyer to
allow for large margin of profit.
which may or may not be realized
With types and grades made uniform
and arbitration reduced practically to
an exact science, as it could be, the
trader or exporter would know ex-
actly what to expect and would be
relieved of the necessity for conduct
ing his business as a venture.
My 1 remind you,' continued Mr..
Murph, of the consideration due in
a study of the entire Situation, to the
producer of cotton, not only as mat
ter of justice but as a matter of eco
nomic necessity? Prices to the pro-
Queer. in many instances. do not rep
resent the real value of the cotton. II
the marketing of cotton from the pri-
mary markets to the great eport and
import markets were reduced to a
more nearly exact basis, the producer
would receive a more nearly just price
without causin gany resultant injury
to the trade. 1t is to the interest of
the trade to give him a just price. not
only because of the material values
concerned but because of the effect
OF his attitude of mind upon his ac-
tivities.
L might refer to the long hours. the
harb labor and the uncomfortable Uy-
ing conditions under which the aver
age cotton farmer in America has la
bored durin gthe past fifty years. and
TO the small prices, utterly Inadequate
TO assure the proper maintenance of
himself and family, that he has
usually received for his product. In
doing so, 1 would not be basing this
argument upon sentiment or sympathy
or asking charitable gratuity for the
producer. but would be seeking mere
iy the advancement of justice in ac-
cordance with enlightened economic
principles, and hoping to impress still
further upon you the interest in the
producers well-being of every man
who buys, sells, manufactures or uses
cotton"