Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1921-01-12
TREMENDOUS OVEN-sUPpLY
OF Cotton in tho South-Wannama-
ker Issues Notc Of Warming.

j. >. WannamaKer, president OF inc
American Cotton Association. which
is OF so much Importance that il is
being distributed for publication.
The communication, which brings out
the fact that there is Il tremendous
ovcr-supply OF cotton, was as follows:
Mr.. Wnnnamakcr's Letter.
"The South is in Il very grave sit
uation. The fact must be recognized
at once and faced. The great hope is
that the South will see and under
stand that a further increase in the
supply Of cotton means calamity
that cotton is no longer cash crop.
"Dr. Bradford Knapp, in Il recent
statement made at Memphis, said:
Get it out Of your head that any
thing but the supply Of cotton and
the worlds ability to buy fixes the
price Of cotton That summarizes
our present prcdicament.
col. w. b. Thompson, Of New Or
leans, has also said: 1T makes no
difference whether there Is too much |
cotton or too little demand for it
the result Is the same To-day, In
comparison with world demand, |
there is a world surplus Of cotton
amounting to not less than 10000
900, and possibly to rs much as 49,
100000 bales. The present supply Is
not far from 27,00O,000 bales, and
may be as much for the current year
as 100000 bales.
True enough. the total supply
this year is not much more than the
world production in 1913, when, ac
cording TO Prof. John A. Todd, the
world production reached a total Of
27,703,000 bales. But we are feel
ing right now the effect Of tremen
dous world crops OF cotton produced
in 1911, 1912 and 1918. According
to Todd, the world crop. including
America, during these three years,
was 5000 bales. Perhaps, had
the war not come on, a very rapid
increase which had been occurring
annually in spindleage capacity,
might have taken care Of all this cot
ton; but while there may be many
IFS no III has ever changed single
fact. The ten-year average amount
Of American cotton on hand unspun,
at the beginning of each fiscal year.
prior to the war. was 100000
bales. 4 August { #.n. according
In Iles.cr ar uhoyns'iNu.. . authority.
ne amount q AntnY'rNu touon m.
4. SpGl. 50 lue void 9IH 6r1t6,nNQ
4a.c@. rhc gQvgrnm20la N4ai est.
mate places the crop this year at 49,
$4,000 bales, and while some Of us
may think the estimate too large, we
must accept it for the present, at
least.
"The amount Of cotton that has
come in sight this year is approx
mately 100000 bales less than the
amount brought in sight to the
corresponding date last year. Not
withstandng this decrease in the in
sight the visible supply has increas-
ed about 100000 bales or more.
which figures must be added to the
carry-ovcr in any attempt to fore
cast the carry-over at August |,
1921. And since the crop is also
larger, the difference in the size Of
this years crop and last years crop,
12,9S7,000 against 11,325,OO0, or
1880 bales. must be added, MAX
ing total indicated carry-over ex-
ceeding 100000 bales.
Government figures, issued by
the Bureau Of the Census. indicate
that the world carry-over increased
last year i,16S,000 bales, notwith-
standing a decrease of considerable
proportions in the worlds supply Of
American cotton. This increase in
the world supply Of all kinds was due
largely TO the tremendous crop Of
East India. We are now threatened
with IA world carry-over Of l3,000,-
coo bales. which on top Of a possible
world crop Of 100000 bales,
would give us world supply for the
next fiscal year OF $4,000. 900 bales
Re it said, however. that world pro-
duction Of commercial cotton has
averaged less than 20.OO0,00o per
annum during the last five years.
World consumption Of all kinds OF
cotton was never as great as 21 ,000.-
600 bales in a single year, including
lnters at the peak Of Inter conSunp-
tion for manufacturing explosives
during the great war This greatest