Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1924-03-31
{ D I I ON SPINNERS
FACE UNPRECEDNTED
problem
Big New York Banker Says No
Low Priced Cotton 60 Be Ex-
pected Amy Time Soon
GROWERS HOLD WHIP
Would Turn Quickly to Other
Crops If Price Level Is Ma
teriaIly Lowered


NEW YORK, March 29.---J.
Howard Audrey, vice president Of
the National Bank Of Commerce
here, sees no prospect of cheap cot
ton any time in the near future,
Notwithstanding recent bearish i'll
dications in market circles. Dis
cussing this interesting subject to-
day, Audrey said;
To-day the cotton textile IN
dustry Of the world faces situa-
ton in the market for raw cotton
without parallel in its recent his
tory. Despite the decline in prices
which has taken place since Janu-
ary, cotton now is relatively high
when measured in terms of the
general level of commodity prices
and it is also high in relation to the
prices of most competing fibers.
In addition the price is subject to
such wide fluctuations that an 40
normal hazard has been introduced
into those businesses dependent
wholly or partly upon cotton as
raw material.
"The invention of the cotton gin
one hundred and thirty years ago
gave the American cottongrowing
industry it's great initial stimula-
ton. The availability Of cheap vir-
gin land climatically suited to cot
ton production and the presence OF
slave labor were the basis Of the
expansion of the American crop up
to 1860; after 1865 abundant
cheap labor and the use of relative
ly new lands preserved the adyan-
tageous combination which expert
ence thus far has proved to be ea-
sential to the production Of cheap
cotton.
"The present level of prices for
cotton textiles with the consequent
tendency toward restricted con-
sumption is by no means solely the
result of the relatively high price of
cotton. High LABOR costs in the
cotton textile industry, the result
of high wages and short hours, have
contributed to the advence in the
price Of cotton goods. Nevertheless
the high price of raw cotton and the
extreme uncertainty as to it's future
course are the major factors in the
situation today.
world population is believed to
have grown from approximately L.
$40 million in 1900 to 1910 million
in 1910 and 1, 75O million in 1920.
The net increase since that date
probably has not been great. In
addition to demand for clothing and
related purposes the industrial uses
of cotton have expanded steadily
for many years. This increasing
demand for cotton on the one hand
and a number of factors adversely
affecting cotton growing in the Uni
ted States on the other might have
raised the price of cotton even had
there been no boil weevil. How
ever, the most important factor in
the high price of cotton today is the
boil weevil damage to the American
cotton crop.
"The depredations of the weevil
have brought about two main
changes in the production of cotton
in the United States. First Of these
is the development of methods of
weevil control. Crop rotation, heavy
fertilization, seed selection, early
planting, thorough cultivation and
the use of calcium arsenate have
thus far proved the most effective
ways of dealing with the pest. How
i ever, in what was once the main
: part of the cotton belt, in very
real sense the growing cotton plant
is now subjected to a double wealth.
e. hazard. There is to be reckoncd
: with not only the direct effect OF
: weather conditions upon growth
and productivity but also the indi-
rect effect because the extent of
! weevil damage is dependent to a
! high degree on weather conditions
which may be such as well-nigh 70
nullify attempts at weeyil control
] by best known methods.
THE second change is the tend
ency to push cotton west and north.
Thus last year 14,0e1.O 900 acres
were planted to cotton in Texas and
(CContinued On Page Three)