The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1921-08-20
Should BE No Prccipitatc Selling.

The stiffeninS Of Che i.rice Of cot
con in. the last week has followed
the realization by spinners all over
the world that the American crop
is to be amazingly small. The
governments prediction is that it
will be less than eight and a half
million bales or about one-half
that OF what the maximum crop
has been heretofore. That IS o
drop in production that seems we'll
nigh incredible and time will be
required fer the truth Of it to seep
into the minds Of cotton conSum-
crS.
The worlds requirements Of cot
ton Will not permanently diminish.
On the contrary, they will steadily
enlarge, the present falling off IN
CONSUMPTION being no more than q
mark CT the worlds poverty. Moth
ing else besides cotton will clothe
the world so cheaply and as its
ability to buy returns it Will buy
cotton. Were poverty not unirer-
sal III Europe, the small crop OF
1921 would make cotton look cheap
at almost any price.
But this poverty is a dire fact
and ore to be rec&oncd with. The
State, therefore, does not dare to
recommend to farmers that they
hold their crops for better prices.
That it has avoided doing at all
times. It does advise them to be-
ware lest as the new crop comes
to market they shattcr prices by
dumping cotton in large quantities.
1t is for thcE to remember that
their product is nonperishable,
that tee only Wise policy for this
year. and other years, is to dis
tribute its sale during the twelve
months. Thcy will be encouraged
and perhaps urged to sell precip:-
lately b; some Of their creditors,
who. hayiHs been patient and
forbearing. deserve consideration.
If. however, they have been un-
fortunate sometimes IN holding and
they are IN I, hurry to sell. prices
will be fixed wholly by the buyers.
Hasty selling would be the surrcn-
der Of tleir rightful part IN the
market. The Indications are that
the government through the war
finance board will assist in financ-
ing the crop and will support the
farmers in efforts TO obtain fair
prices. What direction the govern
nlents a:G will take is not yet de-
iined. but it Is plain that the con-
;grcss ard the president are sincere
in their purpose that effective aid
shall l.. extended.
Time is healing Europe. Every
dav that passes brightens the fu-
trre. The cnfeeblcd and sorely
Wounded countries are struggling
10 1neir feet. The surplus OF the
old cotton crop is not so large as
was forcshadowed; the new crop
is assurediy small. and in thc COM
ing wear there Will not be more
than enough cotton to go around,
though millions Of people still be
forced to so without Il.
The State earnestly advises every
producer OF cotton to consider
carefully the disposition OF his
crop. Let hin candidly inform
bis creditors OF his condition and
Let him pay caccriuliy what the
liberal banker and merchant oe-
mand. The frank and honest man
Will be met half way. On cotton
depends the stabiiIZation OF az
business. especially Southern busi-
ness. and further demoranZ'tllOH
Of cotton prices would be calam-
iIous to cil sellers OF goods ana
lenders OF money.
While far from nrophesylhs d
return of boom times The state
believes that the prospect TOR the
resumption OF business ana lnous-
trv Is nearer and brighter than II
has been in many months,-lh ne
state