The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1921-10-07
THE PRICE OF COTTON.

not only in the immediate future,
but in the next few years. Cotton has
always been produced in such abund-
ance, and with such cheap labor, and
at prices which enabled the produc-
ers to, exist, if not live, that it is
hard for people generally to think of
cotton selling at three or four times
the price at which it has heretofore
sold. .....-
But we do not think that it is out
Of the question for cotton to sell at
fifty cents per pound, or a dollar a
pound, nor even at zone eighty-nine"
per pound. It must be remembered
that the world must be clothed. The
law forbids that we 60 without cloth
ing, and the human race, in its pride,
if for no other reason, would object
to going without good wearing ap-
parel, even at seasons when fig leaves
might answer. So long as cotton was
produced in this state and in other
states in great abundance, the price
of producing it was so low that cot
ton sold at low prices, as we have al
ready stated. But if the boil weevil
is here to stay, and we think he is, at
least to some extent, and perhaps to
a great extent in the. next few years,
cotton will not be produced in great
abundance. Instead of making in this
state one and half millions of bales,
we will dc we'll to make each year a
half or three-quarters of million
bales. And we will make this amount
Of cotton with greater difficulty, at
greater expense, and consequently
cotton must sell higher. No commodi-
ty can be produced year in and year
out at less than the cost of such pro-
duction. The bottom will fall out
sooner or later. Then again the de-
mand will be such that the price
must. inevitably soar.
Of course cotton will not 60 high
er than some other article which will
take its place. There are only two
things though which may take the
place of cotton and these are wool
and silk. Wool is now in large de-
mand, and any further extension of
the uses to which it is to be put would
but raise its price. Besides wool can
not be used for the things which
are made of cotton, certainly not to
any great extent. Turning to silk,
we noticed only night or two ago
that complaint was being made that
silk was selling at a very low price,
namely six dollars per pound. We
do not believe that silk win be found
as serviceable, nor as satisfactory
for ordinary clothing as cotton, but
if it should be it is evident that peo-
pie may much better afford to pay
one dollar per pound for cotton than
six dollars per pound for silk. Any
competition between buyers of the
two articles, in an effort to substi-
tute the.one for the other, would but
have the effect of advancing both,
and as silk advanced, the price for
cotton would increase, and in lit
tie while it would more nearly ap-
proach the price of silk. ...j .
If the world shall see cotton fam
inc for the next five years, which
most people expect, we shall not be
surprised to see cotton at much high
er prices than have yet been dream
ed of by the general run of people.
Perhaps the figures of the Press and
Banner, zone eighty-nine" may yet
look cheap for. cotton. If so every
body except Dale Barksdale will be
surprised.
We shall all see what we shall see.
We are not writing this to advise
anybody to hold cotton, nor do we
advise them to sell. Every man must
be his own judge about selling or
holding, and his decision will depend
on many facts and circumstances pc
culiar to his own case, principally on
whether or not he owes money which
he should pay in order to save some
other man from loss. But at the same
time it looks like higher cotton to
us.