The herald and news. [volume] (Newberry S.C.) 1903-1937, 1920-08-13


SPECTATORS in cotton but not so to
the cotton producers. IN the said
article the following statements ap-f
pcared:
Improvement in the cotton crop
prospects during the month were de-
clared by the board TO have reduced
any anxiety that had been felt in The
cotton goods trade concerning pros
pective scarcity.
"a reduction in activity in cotton
goods was noted during the month";
MANY New England mills reporting
supplies of raw cotton sufficient TO
last until next year.
Under the existing conditions
when the cotton market was almost
in a state of panic, these partisan
statements might have been expected
from the dope works of bear rad
er. or from the propaganda depart
ment Of the united spinning industry
but certainly not from the federal
reserve board of the United States
In the first place both of these state
ments are misleading if not absolute
" incorrect. 1t is true that the crop
has shown material Improvement
over the desperately low CONDITION
IF two months ago, but the fact re-
mains that this same crop had the
worst start on record, that 1t IS la1e'
that it has yet to pass through 1he
most critical period of its lite ana
that the boil weevil is more or less
plentiful throughout practically the
entire cotton belt awaiting the Ao-
rDst period wherein it is always most
destructive. d The spinning industry
and the contract short would like 70
believe that cause for anxiety hao
been removed, but l doubt seriously
that they can feel secure until Ine
critical period has been passed and
the forecasted crop made and plckeo'
or unless they shall be able IN the
meantime to stampede the producer
into panic and ruin. If the reserve
hoard sees fit to enter into a discus
s;on If the market situation it would
soen, onlv fair that the producers
side Of the argument should be given
hearing in his present struggle 1or
economic existence.
The board in the said statement 10
quoted as saying that many Ne"
Fna1ana mills have reported supplies
If raw cotton sufficient to last oh'n
next year. The obvious purpose ana
tho inevitable effect Of such a sVa'e-
n,ant is 20 create the impression
-itbo;,t actually making the asser-
+ion-that the mills generally were
already supplied with enough f''"
n,aterial to run them until HeN'
va,r. This implication is not ohiS
svceeainslv injurious to the cotton
nrodncer in the present emergency
H. = ;s # the statements of another
department of federal governni.n'
ara to be believed, absolutely moor
rect. 80
The federal census bureau, IN It's
,.o,or+ 70 the end of June, published
1,1v ID states that the total amount
Of cotton on hand in all consa''ihE
os+.h,;shoents was in round ilguFeS
! 1.555,ooo bales. The same repoi' '
ehovs that consumption for 'he
nor+b Of , was in round flufes
Xxx 600 bales, and that the average
so,,s,,,,n+;on for eleven months '"as
inst about the said figures Tor july.
With a consumption of 100000 oale'
no, month this supply would DC eA-
bausted by the end Of September.
wbv Pick cn the Cotton FARMER!
B,,t regardless of the correctness
or ,correctness Of the. said S'a'e-
ments and implications, the queS'loi,
arise, as to why the reserve ooato
sees -; to publish these ex pa''e
statements and injurious surmiseS "'
al ! can we'll understand thaV tne
hoard from both patriotic ana poii',-
ro1 motives desires to reduce the h'sn
cost of clothing and cotton g0ous,
hut why put the sburden upon 'ns
producer Of raw cotton? 1t IS a '.Sv, 4so
ter Of common knowledge that 'ne
SINNERS profits during the p"s' wv
wears have been prodiglous' "i'e'e"S
= IS a matter of serious DOUBT % 80
whether the cotton farmer has during j,
49, s.noc period made more than 'hP