The herald and news. [volume] (Newberry S.C.) 1903-1937, 1920-10-22
HARRIS BULLiSH
DESPITE PRICES
COMMISSIONER SAYS COTTON
FAMINE AT HAND.
Closing Down OF Mills Means Gain
For Farmcrs-Commod:ty VIII
Go Up.
The State.


The State.
Il am more builish on the cotton
market than l have been in the last
ten years. said Commissioner Harris
yesterday. 81 hope that the cotton
| farmers of the South will be bulls
! from now on. Some Of them have
been helping the bears too much.
The sooner Will cotton 60 Up if the
farmers stick to the bull side. No
matter how much the interests Jug
gle with the futures market, just
remember they can't spin contracts.
81 maintain thss, according to the
law of supply aEaSMiemand: we face
the most acute famine III spin"able
cotton in all history Of cotton. The
law Of supply and demand can net be
ignored Indefinitely. 1t is the nat
ural law ard should govern :he
prices Of all commodities. >iow,
spots holders, don't get scared when
voa hear Of = cotton rl!!i shutting
down or curtailing. If they are not
making money now out Of manufac-
turing, God pity them, for Gotten is
going higher.
"By the way, I wonder if the pres
ent status Of marketing is what Mr.
Harding of the federal reserve board
and Secretary Houston call orderly
marketings.' l would fear to see the
market when it becomes disordcr!y,
according to their judgment.
'In many ways l consider ccndl-
tons worse now than at this time in
1914, when our people were the IN
nocent sufferers of a financial crisis
brought on by war in Europe. l
find that some ere placing the blame
upon the secretary Of the treasury
ard the governor OF the federal re-
serve board. believe that there
was no ,provocaticn fer such 'adi-
cal defation Of Wakes as we have
seen. No one seems to be willing to
admit rezponsi5;i;ty--but [ claim
this, it was not brought about by
natural causes.
Farmer Great Producer.
sThe farmer is in the vast major
ity in this country, and yet he has
the least to say about the maxim; Of
the laws under which he lives. The
wealth Of the world IS produced
from the soil, in agriculture, mir ing,
etc. The manufacturer takes the
raw material and adds few dollars
to it's value. There is rot bank III
the world that has produced a Aew
dollar. Money that is produced secs
through the bank and it charges per-
centage and interest and creates
wealth for the bank.
'The merchant does not produce
new dollar. He buys his goods, puts
them on the shelf and sells them for
profit. That profit is not a new
dollar made, but dollar turned
over !
'The new dollar is the only thing
that counts. Why, at this time,
should this great deflation come
when producers have produced their
new crop, ready for Sale, at their
own expense? I would like to exon
crate the bankers Of this state as far
as I can. 1t seems that Mr.. Hcus-
tons and Mr.. Harding's idea Of Or
derly marketing is to pick the crop
and sell it as fast as you can, matters
not whether there is a profit.
Gas a matter of fact, very little
money can be had to keep it off the
market. Even in California and Arl-
zona, they have their difficulties. y
delegate from Arizona iii Washing
ton last week made this statement.
he produces long staple, selling
fer $50 per pound las. year. he
had zoe bales, put them in ware
house. went over to banker and
aoDlied fo: $4,000. The banker
asked him If i: was for an acceptance
ny if the owre: wished to hold his