Arizona republican., 1920-10-15
CO., O-OPERATTOll IS URGED BY. EXPERT TO CORRECT PRESENT. STATE OF COTTON INDUSTRY

upon the specuiator, but upon the man who is dependent for his living and for his tax paying capacity upon his business or his crop.
 "The board and the secretary say, and reiterate. that the government has no right to do anything toward put ting up prices of agricultural products. What right then has the board and the secretary Co put said prices down by direct pressure
 High Cost of Living
 "The high cost of living is a para mount economic and political issue of today. Individuals as well as polit- ical parties realize the necessity of re- ducing these costs and readjusting the prices to basis of non-inflation. But the question is.
 "Can any healthy and permanent re- duction come from the policy of crip- bling the producer and running amuek through tic business systems of the country?
 "A mighty show of activity may be made by such methods but the Amer ican people demand more than show. The results of such a policy is that the | consumer still suffers, although polit- ' icaf experts promise that relief will come before the winter sets in, while confidence is atrophied. the buying in- clinatIon and the buying power is in ecTfbse. and the agricultural industry is demorallzed.
 Selling overdons
 "The commodity situation cannot be iiauidated without buyers. If the farmer cannot find buyers for his prod nets at a price equal to the cost or pro duction and a reasonable proIit, ne must. perforce, discontinue planting
 "If the manufacturer cannot find buyers for his output he must certainty close down.
 If the merchant cannot find buyers 2 for his goods he must perforce go out
 puring the current deflation cam paign everybody with anything mas been urged or forced to sell; the ouy- [ CTS have been gassed.
 It is to be hoped that the board VIII by refraining from participation in the [ campaign for promiscuous price busting" give the producer of essen L tial agricultural products chance to ! sell his products on a natural market , responsive to the laws of supply and . demand, and not on an artificial mar ket completely dominated oy e, oe , structive clements and saturated WILT the dope of despair.
 Cost of Production
 This crop has cost the farmer 40 tS SO cents per pound to make. harvest and market (Notc-From the bes figures available at this time. the cos of Pima has run from 60 to 70 cent per pound). The complex or 1actors, SO designated by the Federal Reserve f Board. has beaten the price down tS t one half or less than one-half the cos of production.
 If the farmer sells at the prices tha r prevail in the present artificial mar 8 ket. he Is ruined.
 Potent prognosticators threaten hin - with still lower prices. He is des' perate. He has asked that he be per e mitted and helped to hold his croI z until the law of supply and demand d shall advance the price to a flgur' that will permit him to market hi o crop without loss. encourage him ti ,e plant another. and in the mentime pro o vide the necessaries of life for himsel d and his family
 . No" says the secretary of tn
 treasury. "the government will not b
 a party to any such conspiracy"
 Uraed to Produce
 Ever since the war ended. nearly tw a years ago. until few months past. tn
 government has urged the farmers [ '. plant md produce to the limit. ,t Ample credit was provided for thi v expansive program
 Conservative adFlce to curtaii acre le age and production to the end that a Ns over supply during the period of re ,- adjustment miglit be avoided. was de es nounced as unpatriotic. and those wh l. had the temerity to give such advic 1t and attempt to organize a movemer 70 to that end were stigmatized a t- enemies of mankind.
 But the farmers responded as he: he they could to this so-called patriot nd appeal. In spite of the fact that tf Dn costs of crop making were the highe, et ever known the farmers planted ed cotton m acreage which fairly repr' Dn sented the extent of their capacity. rt Deflation Campaign nd When the reserve boards deflatic .f- campaign got well under way the spiT no ners and bear speculators took advaI a5 tage of the resultant consternation
 the cotton trade. the one by refusir
 to buy for prospective needs, and Il other. by selling cotton they did m o own. precipitated wide declines n prices.
 o- The producers and their allies q as not believe that the reserve board il v- tended to bring about any such resu or and they appealed for some reassuril IT, statement.
 lot The board replied with soothing gei