The Lubbock avalanche. (Lubbock, Tex.) 1909-1922, 1922-09-15

facts and sensible men ought ~
reach sensible conclusions. The cot
ton crop thin year NJ estimated ny
the government In the report ~
September I. indicates a yield Of
i0.575.0 900 bales
THE Texas crop ~ estimated
M 3,6i4.0OO bales. which ! believe
10 be- one million bales too high.
The reports furnished my Office
from reliable men In all parts OF
the State indicate n crop Of 2,i62,-
400 bales AZ compared with crop
Of 2,l7g.ii5 last year.
The average cost Of producing
this cotton crop is estimated 10 be
% cents per pound. The spot mark
et is below this price now, and cot
ton has lost more than five dollars
per bale in the last few days, caused
by the rapid gathering and selling Of
the Texas crop.
This crop is several million bales
short Of the worlds needs. and ev-
cry consideration justifies a price
Of thirty cents.
II appeal TO the farmers, mcr-
chants and bankers, not to force all
Nilf fUAiWH MINWI n hf'iliiiE DihA nv
causing lower prices, and the loss
Of millions Of dollars so badly need
ed 20 paw the farmers debts and re
vive the business Of this country.
"The total crop of the South last
year was S,O3g,673 bales. The do
nestle consumption and exports for
the year just closed are IL ,7s9,3sl
bales, or nearly 100000 baies
more than was produced last year
The big surplus Of 1920 is practi-
cally used up The crop this year
will possibly not reach ten million
bales. or nearly two million bales
less than consumption this year.
Nothing could keep the price Of
cotton from going 10 30 cents, II II
were not dumped on the market n
fast as picked.
"Dor't take my word for IT, Con
slider the facts | have given and take
the word of p. n Naughtou, a cot
ton manufacturer. as published in
the Daily News Record Of New
York "
He says. "The worlds annual re-
quirement consumption Of cotton l.
10000 600 bales This quantity of
cotton cannot be produced today
from the cotton growing countries
Of the world A liberal estimate
of the worlds cotton crop for 1922
would be about 100000 bales.
The United States will produce
about $1,000 600 bales With all due
respect 10 Mr. Wallace, United
States Secretary Of Agriculture al
Washington. and his various theore-
teal bureaus, issuing Kaleidoscope
estimates Tor Wall Strcet--fluctua-
ting. liquidating, profit-taking.--er-
roneous big crop estimates emann-
ting from Washington are prejudi-
cinl and "a deterrent factor IN the
dry goods business. The Legitimate
business in dry goods Is halted by
crying big crop of cotton, lower
prices
"All cotton growing countries in
dictate poor crops. Cotton famine is
inevitable The whole world wants
cotton The world is hungry for
cotton goods Middling cotton will
sell at 80 cents before the beautiful
snow flies"
In view Of these undisputed facts
il seems 20 me that the business in
terests of Texas and the South,
which must depend upon cotton for
existence could not afford TO force
this crop upon the market at prices
less than cost, causing a loss Of mill
lions Of dollars 20 the farmers. and
an interests dependent upon the cot
ton crop. As soon as pressing debts
are paid. all interests should unite
20 stop the rapid sale of cotton, and
the price would reach 80 cents in
80 days II the sale OF cotton could
be- stopped that long.
ExErtfTnp,c NOTICE