The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1919-07-03

school, college OF CndrleSLOu anu
| United States Naval Academy.
livelihood. stopping their unrest, for
furnishing them with revenue to pay
the governments taxes, which will
| furnish the government with resour-
ces for; paying their enormous war
debts, it is then that the price of
commodities will commence to soar.
1t will be impossible for America not
to become intensely wealthy One of
the great dangers will be excess
wealth. Many commodities are be-
low fair price based on imitation and
demand Cotton will in all probabili-
| ty show a greater rise in price, as
result of imitation and actual demand
in excess of supply, than almost any
other commodity.
Never again will you see cheap la
Dor. Never again will the present
generation see cheap commodities.
This is the time to buy, build and
boost. AS a result of an investiga-
tion by experts on European condi-
tions it is found that the European
demand for cotton will be so great
that provided financial arrangements
and transportation facilities can be
arranged, Europe will use every bale
iof cotton now in America, plus every
bale that will be made from the crop
of 1919. Europe today is paying from
AZ cents to As cents per pound, basis
middling, for cotton, and in a recent
statement from the mills it is shown
that the earnings of the mills of
Europe for the first five months of
1919 exceed the fabulous earnings of
any similar period during the war.
Reports are now making all de-
tailed arrangements in Europe for
financial credits for the purchase of
cotton as we'll as other commodities.
Cotton failed to bring anything like
a fair value during the war ~One of
the leading officials of the National
Spinners' Association in a public ad-
dress stated that the manufacturers
could have paid 80 cents per pound,
basis middling, for every pound of
cotton since 1914 and still made a
fair profit. A leading official of the
Manufacturers Association, one of the
most reliable and high toned gentle
men in America, stated that the mills
the country, requesting that they
could have paid Is cents per pound,
basis middling, for cotton during the
early fall of 1918. Inquiries sent re-
Gently to number of the leading
manufacturers in various sections of
the country, eauesting that they
state at what price cotton could be
used, basis middling, and still show
fair profit, resulted in replies showing
that mills can use cotton at figure
as high as 65 cents per pound, based
on the present price offered for the
manufactured product, and still make
a fair profit.
The stock for the American Cotton
Export Finance Corporation is now
being rapidly placed; the officials of
the corporation have been elected, it
being headed by one of the leading
men of the South, W. P. G. Harding
of the federal reserve board. This
CORPORATION will be in active opera
!; ton long before the new crop comes
j i'm. Demand for manufactured goods
: as we'll as for raw cotton will go un-
satisfied, regardless Of price. Before
this time next year the present sup
ply of cotton plus cotton from the
growing crop will have been ex-
hausted. We are facing the smallest
cotton crop produced in decade, and
with the greatest demand ever re-
corded.
With the organization of the Amer
Iican Cotton Association, and with the
Improved methods which have been
put into operation for the handling
of cotton, including representation in
5 all cotton purchasing countries of the
world, the cotton producer of the
2 South is in an entirely different posi-
= ,tion. His cotton will be handled on q
= strictly business basis, and if he holds
, his cotton. he will receive the highest
e price ever paid for cotton since it was
8 first introduced in America: certainly