The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1920-12-06
MONDAY, DECEMBER 6, 1920
"HoLD ON LIKE GRIM DEATH
Manufacturers Record.)

Some weeks ago we mailed to every
cotton mill in America and to leading
mills in Europe a pamphlet. entitled
"A Plea for the Cotton Growers Of the
South in which are set forth some
facts in regard to the cost OF COTTON
raising and to the economic slavery IN
which the South lived for many years
by reason of the low price for cotton
+. Haythornwaite & SONS, Ltd.' Eng
lish cotton manufacturers OF Burn
lev, writing under date of November
3 to the Manufacturers Record says:
eve have received your booklet en-
titled, "A Plea for the Cotton Grow
ers of the South dated September -
1920, and our Mr.. w. Hayth0rn.
waite has read it through several
times with very great interest.
"The statement which you make
and the information given is some
thing entirely new so far as Lam
cashire cotton-cloth manufacturers
are concerned.
"We have felt, like yourselves the
disability obtaining when buyers per-
sistently hold off, and we have found
that whenever the price of cotton
shows a consistent rise from low
level to a high level the buyers OF
cotton and all the various kinds OF
textile goods from all over the world
become very anxious to secure their
seasons supplies.
eve can quite believe that the
price of cotton shows a loss to the
grower, and we are of the opinion
that trade will not revive until the
raw cotton begins to lift its head from
the present very low levels.
eve are of the opinion that all the
markets of the world require cotton
goods in very large quantities, and we
also believe they will not purchase un-
til a rising market is in operation.
"Our experience has always shown
that to have a large volume Of trade,
confidence in the stability of prices
must obtain.
"In February of this year cotton
was quoted in Liverpool at 2S.4Od;
today the quotation is 14.50d. and in
view of the rate of exchange the
price we consider is very cheap.
"The solution to the whole position
rests with your people is to their
ability to hold the goods (eotton.)
Our advise is, hold on like grim
DEATH
"Will you please forward US the
average cost of growing cotton at
your convenience"
Here is an admission by one of the
important cotton manufacturing con-
Germs of England that it has been here
tofore wholly ignorant in regard to
the question of the cost of cotton
growing in the South and the condi-
tions under which the farmers of this
section have had to live during the
last so years by reason of the pow
erty prices of cotton. They take the
very proper view of the situation that
On a falling market people will not
buy cotton goods, and that though
the markets of the world need vast
quantities of cotton goods, they will
not ibe purchased until there is ris-
ing market.
This is true as to all things. People
will not buy on falling market, be-
cause they ever want to find the bot
tom. 1t is only on a rising market
that there is prosperity, and until the
rising market takes place in farm pro-
ducts there can be no general pros
perity among the farmers and work
ers of the whole nation.
The advice of this English cotton
manufacturing firm is unlike any that
we have ever received from cotton
manufacturers in this or any other
country, for they advise that the cot
ton growers of the South 'hold on
ito cotton "like grim death,' taking
the ground that "the solution of the
whole position rests with the cotton