The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1920-09-30
Cotton Growers Must
Receive a Fair Price
Writes Mr.. Meredith

= II is absolutely ess9ntial to the con-
tinued production Of american cotton
that The cotton farmer receive price
fsr his cotton which will meet his leg;t-
innate expenses and return a reason
allie profit" declared Edwin T. Mere
ditll. Secretary of Agriculture. III ii res
cent letter to +. $. Gambler. of Corintli,
Miss. replying to an inquiry concerning
rotary a,EilyZed tie present cotton sit
vuation and the probable effect the new
crop would have upon prices.
1t is the general hclief, Secretary
Meredith said, that the existing sur
islE.; in the United States of American
grown cotton is largely composed of
very low; grades which hare been ac-
c,l.iialatad from several crops and for
Which there has heen almost no mar
ket. He expressed the l.eiief that nearly
.,0G0.000 tales surplus Of old-crop
American cotton would he on hand
throughout the world on October 1st.
The new crc,, is estimated ut about
s2.,7.s1,000 bales.
THE sEcRETAaY.s LETTER.
Secretary Meredith's letter wars as
follows:
" Receipt is acknowledged of your
letter of August I'D. IN which you di-
rect lily attention to the decline i'll the
piice of cotton and ask ME to write
you III. views regarding the existing
condition.
!" Briefly stated, the situation in the
cotton market may be thus analysed:
| The worlds consumption Of American
/ cotton, exclusive of linters. during
the PAST year has heen more than
12,0e0.G0o tales, or. in round figures,
l.G0O.UO0 bales per mouth. The supply
of American cotton i'll the United States
at the end Of the cotton season: on
July 3lst last, was. in round numbers,
about 3.25e, 900 bales, excluding linters,
and was estimated for the entire world
ut about :,.O00.OGOO b;lles or about five
months supply if all OF this surplus
were used at the rate of 100000 bales
j ;sei month. .ts it is usually around the
4 first of October before new cotton he
comes available at the mills for con-
/ SUMPTION. it will Re seen tina. two
months Of the new crop year must
clause and at the rate for the past
year o,OGOOoO bales of the surplus will
be consumed before this years error
reaches the mill. Accordingly. there
i viii probably he nearl. 3.GD0O00 i:aies
4 surplus of old-crop American cotton
on hand throughout the world on Oct,
oher LIST next
In addition to this surplus, the cot
ton grown this year will be coming OF
the market. The prospect for the new
crop. according to ihe latest estimate
of the Bureau of Crop Estimates, |.
about twelve and tl,ree-quarters mil
lion bales. 1t appears therefore. tia,
on this basis the supply Of American
cotton for this year will be about fif
teen and three-quarters million bales
whereas the worlds consumption q
american GOTTEN. using last years coa
4 sumption as Il hasis, will probably 40
exceed 13.Oe0,0UO lsales.
One who considers ONLY. the forsso
liz statistics ni,y. however. Ee iliislet
a, co the true market. situation. 1t i,
.se general belief tslatathe. existing sur
PLUS in the United States of .imerieali
grown cotton ii largely composed d
very low grades which have Eeen acc!,
INFLATED from several crops and fol
. which tl:ere has ieen almost no mar
ket, Even il the mills should to som,
extent turn to this iow-grltle cotton foi
4 source OF SUPPLY, as we are inforinet
, soli,e Of them lire dOilg. the quantit,
4 of goods produced tilereflom will Il,
less than from the higher grades, lie
CAUSE of the greater percentage O.
waste in spinning. SO that tile presencs
Of 4 surplus OF Il certain number Of mil
Ion iales of lo.y-gIatie cotton does no
| mean as much in terms of goods as /
that surplus We're composed of high
grade cotton. Wliie for the time b.iI:
: tie existence of ulis SURPLUS exercise
"a depressing effect uren the whole mar
ket the experts of the bureau OF Mar
kets suggest that there is likely to :,e
good demand tor ndss crop cotton wi,,,y
1t las legsiR to Move because of til
ability OF purchasers 60 ret the highe
grades. which tie present surplus doe
not contain
While IN the c;,se of SOME countrie
the consumption OF A,nerican cottoi
d h;ls returned 10 i,ins1t tlse ll1A-svar iss,g
!. nal. Gerinaiiy anti -ss,stiia in i,artie
i ,llar hisvs fallen far short OF takia
y 'ts,tc., as they. did prior TO the VII
Therefore, in this direction there wou.
ssein to be the greatest Possibility 70
increasing the :slkilagS Of America