The Lancaster news. (Lancaster, S.C.) 1905-current, March 10, 1906, Page 6, Image 6
More About Farmers' Day j
i
Further Details of the Big <
Meeting this Week?Har- j
vie Jordan's Masterly '
Speech?Every Farmer in >
the Country should Care- |
fully Read It. ?
I
In the account in Wednes- i
day's issue of The News ot the f
big tanners' meeting here Tues- c
day it was stated that the ^
speeches would be published in j
today's pap>r. The principal |
address, of c ?urse, was that of t
Col. Harvio Jordan, the head c
of the Southern Cotton Assouiation,
and owin^ to its great -j
lenuth we are obliged to make v
brief mention only of tho re d
mark of the two other speakers. 1
Mr Frank Weston, of Colum a
bia, secretary of the state asso#
ciation, was the first speaker in- 0
troduced. He said thit fie was
only present as an escort tor u
Col. -Jordan. But ho neverthe- *
less took occasion to make a ^
a capital speech, especially emphasizing
the importance of the s
estahlishment ot warehouses o
throughout the country, for the c
storing of cotton. v
Mr. Weston was followed by
Treasurer Hyatt, of the state j
association, who made a logical c
argument in favor of the success- e
ful maintenance of the cotton ?
growers' organization, lie used e
a number of anecdotes to ill us - c
trate his points, which greatly ]
amused the audience. c
At the conclusion of Mr. t
Hyatt's remarks the orator of ^
the day was introduced.
President llarvie Jordan of the v
Southern Cotton Association t
spoke in part as follows: '
uThe South is now enjoying an s
unprecedented era of prosperity. *
This is due largely to the fact that
cotton, the basis of Southern prosperity,
lias commanded fairly remunerative
prices during the past j
five years. A short peiiod of de- G
pression in prices one year ago, ^
caused by the production of an
enormous crop in 1004, culraina*
ted in the organization of the
Southern Cotton Association and /j1
the cementing together of the j
lurmers, merchants and bankers
for co operation in a general effort
to protect and safeguard the sta- j!
pie trom the disastrous influences
of speculation and depression.?
'J'flo history of the work accom
plished by the Association during
itsshr rt period of existence is one c
of the marvels ot 'he aire. The t
wide agitation of the Cotton situ n
atlon in its relation to the legiti |
mate laws of supply and demand. |
the heroic efforts of the growers 1
to resist the unrighteous domina
tion of the spinners, buyers and
speculators last year resulted in
one of the greatest financial
achievements ot modorn times.
In the face ol a supply of practically
14,000,(100 hales of cotton ,
exceeding the demands of consumption
by Hilly 2\ million <
bah s, the growers entered into a
persistent holding movement,
while at ihe same time largely
curtailing the acreage for 1005
under that of 1004 and succeeded
in advancing the market from 6^ '
cents in .January to 10.1 cents in
?Jul}r. The production "f 1005
wilf not exceed 10,250,000standard
bales which curtails t he yield
under that of 1004 fully 3,500,000
bales.
MARKKTING TIIK CHOI*.
The crop of 1005 has up to the
present time been marketed with
greater intelligence and system f
;han any crops of recent years,
[t has been the only crop which
ii?s netted to the growers an
iverage ol ten to ten and a half
;ents per pound in twenty-five
fe?rs. It was the only crop
vhere the rank and fi'o of the
. ro vers thnroughont the Sou'It
dubbornly refused to yield totlie
inwarranted depressing inilu nces
ol the market last October
vheti prices were forced down bv
(peculation and combination be
ow ten cent a per pound. The
aimers of the South theieore
deserve tbe highest cmnmen
lation lor their loy<?lty during
he past year to the Southern
Cotton Association and tor the
I o I 11 iri* nt manitcr in urlnclr f Itnv
?'?v? V..^J
i ive protected and safeguarded
heir interests. Ahout the mid
I e ot last November the As-miation
called upon the growets
o demand a maximum price of
5 cents lor the balance of til *
in-old portion ol the crop in or
ler to average the crop, as near
1^ cents per pound as pos-ible,
is it was well known Irotn the
hen abnormally high prices of
otton goods, that the spinners
il I he world could pay that price
uui continue to declare profitable
lividends on their investment
t was also known at that time
hat the crop would be a short
me and that as consumption was
inprecedented there would be no
urplus to carry over at the end
>t the present year as was the
ase in 1905. Calls tor pledges
cere issued and several hundred
housand bales were promptly
ied up in the holding movement,
'or the first 30 days very little
o'ton was marketed by the hold
rs and prices rapidly advanced,
day contracts touching 13 cents
arly in December. Shortly after
his, holders, especially in the
iou hwest, began to market tree
y and as spinners secured enough
:otton to meet their daily wants
he market began to recede, bu'
leld up well for a long tim**
round 11 cents, the minimum
irice of the Association. Six
veeks ago an alleged combination
>et ween the epinners ot the world,
arge cotton firms and Bearish
peculators was poi fected to lorce
trices down in a strenuous effort
o defeat the will of the peopl*
ind to destroy tlie further use
illness of the Southern Cotton
kssocia'io'i. The continuous
leavv receipts of cotton at the
Southwestern ports assisted the
ight to depress prices and only
he firmness of the spot holders
11 t lie old states has saved the
narket from utter annihilation
he holders in all ol the territory
Cast of Texas have stood firm
nd unflinching and will yet win
, greaf victory in ihe superb
ight they have made.
bkttkr facilities needed.
The marketing of the past two
rops has demonstrated the fact
hat two important essentials are
iceded to place the growers in a
tosiiion to safely resist the do
resting influnces of speculation,
he South must lie supplied with
first-class system <?i adequate
warehouses, v\ liore the c ?t ton can
?e stored and financed so as tc?
egulate the supply of raw colon
t<> meet the legitimate de
11 <1 mis of consumption. So long
s an enormous oversupply of
otton is toiced up hi the market
luring a short period of time,
ow prices must he the ponalty.
his system of selling not only
iCts injuriously upon the seller,,
ml it enables speculation to
vie'.d an unrestrained hand, often
letrimenlal 'o the spinning inerests
of the country. Witii cot
on Diot erlv sfoied :li a mini
num cost of storage and insurince,
and the insurance of nogo
iable receipts commanding
:h up money, the growers will
> :cupy an independent position
ind i he staple when finally sold
v111 no to the spinner command
ng its higliest intrinsic value and
ree from the heavy loss of coun#
try damage. This is a matter t
which I invi'e it.e most seiiou
attention of t !>** fai tiling and bus
ne>8 interests of the South, tx
cause up? n it* quick and prop?
sdu'ion largely depends the pr<
tilem ot the fu ure marketing t
the crop at fair and profit tbl
pr ces to tlie growers
KV1LS OF SPECULATION.
The urea est single evil co<
Ironnnu the South, and indee
the whole country at the preset
time, 18 the rapidly growin
tendency toward speculation i
cotton futures The pi ice <
this magnificent staple crop, tli
most valuable of all agriculture
products, is daily kicked abou
like a fo it bad on cotton e:
changes ol the world. The rot
tenners of the Now York Cot to
Exchange is known to all dealer
in cotton and has been roundl
condemned by its own meinhert
The tentacles from this gian
octopus of iniquity reaches on
through the entire territory c
the cotton bell and dail
feast upon the thousands ot vie
t.ims that hourly become its pre'
while millions ot honest vec
menry are made to suffer th
devastating influences that fol
low in the wake of paper con
tracts and chalk marks.
The entire busiuess interest
of tlie country should either in
sist upon the adoption of sucl
rules in the New York Cottoi
Exchange as will permit the es
tablishment and maintenance o
legitimate tran-act'ons or then
should be enacted stringent law
throughout every cotton sim
that will heavily penalize ever;
person who is not in position ti
deliver the actual product whicl
ho sells or who will receive th
product that lie buys. In othe
words dealing in cotton future
except by those legitimately en
gaged in handling the stapl
should be suppressed by law
and every Bucket shop in til
country at once outlawed. I
gambling in cotton futures i
not suppressed it will ultimate!
demoralize and jeopardize th
entire business interests of th
South, and especially will it b
ruinous to farmers.
SPINNINQ INDUSTRY PROSPEROUS
The spinning industry of th
entire world is enjoying an er
of unprecedented prosperity
Cotton goods are abnormal!
high, the spinners have sold th
entire output of their mills fo
many months ahead. Many mil
lions of new spindles are in ac
live operation, and the grea
difficulty of the jobbing and rt
tail trade is to secure the promp
itf>livrru r?t" frliAir r?n ? qos 1
, - . X'
has ceased to be a question c
price, but one of delivery c
goods The Fall River Mills c
New England are not only d<
daring splendid dividends o
their investment, but recentl
declared dividends of 7 percen
on the wage earnings of thei
employees, Yarn spinners 1
the Oarolinas have told me pei
sonally that they could pay 1
cents tor new cotton at this'tim
and make good money. I wi
recently informed that a larg
cotton mill in Alabama woul
net eighty per cent, on its it
vestment this year.
I rejoice at the prosperity (
the manufacturers. I war
them to prosper. Upon tli
success of the mills depend th
i success ol the growers. I hop
the day is not far distant whe
tho whole South will be hone}
combed with cotton factories an
that the Round of busy spindle
can ba hoard in sight ol nearl
/ I 1 A 1. - ll
every neiu growing ?ne neec
staple, But J afto want to s
the growors prosperous and hap
py, enjoying with the mills
lair and equitable division <
the profits arising from the pr<
duction and manufacture o! tli
Souih's great staple crop. W
control an absolute monopoly <
11 Southern
SOUfH'S GR
le
Unexcelled dini
Through Pullma
, on all through tr
id ient schedules or
>t Winter tourist r,
effeet to all Flor
,i full informatior
ie routes, etc., cons
d ern Railway Ti
n BROOKS MORGAN, A,G.P.
Atlanta, Ga.
1 Ij the strongest Bank in Lancai
;&gj^a?gyi6?
8 *
the staple and should so saloy
guard its marketing as to enjoy
to the tu 1 lest extent the fruits ol
so maguificent a heritage given
e to us so Ireelv from the hand of
r providence. I want to see a
8 closer relation and a better
understanding between the cote
ton producers and cotton manu
, fac'urers. I hope to see a direct
p trade established between growf
er and spinner. The meeting
between representatives of our
Association and representatives
from domestic and foreign spin
ners called to meet at Washington
City, May first, will be the
first meeting of the kind in the
history of the cotton industry
j. and I feel will be productive of
great good. Our staple should
e be placed in a better p ackage,
a marketed in better condition and
K with more intelligent methods.
y The groundwork has been ale
ready laid and progress will be
r made each year to the benefit of I
i flip ont.irA Smith
1 CURTAILING PRODUCTION. 1
5 *
it The slogan lo he preached (
it from the valleys and liilllops of
>1 tlie entire cotton belt (luring the
>1 next three months is the curtail
if ment of the cotton acreage for
>- l'JOG and an increase of the lood
n supply crops. Independence in
y cotton production can only come
t. to those engaged in its culture
ir through a system of selfsustainn
ing farming. This is the first
r great lesson to he learned in the
4 business, and the second is tha?
e of systematic and profitable
is marketing. Fill your corn cribs
;e and smokehouses from the prod
ducts oi your farms and thereby
i- be in a position to maintain the '
price of your cotton on a fair
if and profitable basis.
it If the world has more cotton
ie than it needs at this time cur-1
... * . j ., r
o tan production anu reciuce ine
>e yield ?1 Hie staple to tho actual
n needs of consumption. The cotr
ton acreage must not he increas(1
ed this year. Every man who
is did not decrease his acreago ful
y ly 25 per cent, last year, should
y do so this year. Cotton is to>e
day the cheapest product on the
) market. The cotton growers rea
ceive less compensation for their
of labor than any other people in
o the United States, not .withstand*
io ing they enjoy an absolute mo
# nopoly of its production, while
of 2-3 of the civilized world depend
k
?. ??
V fk : "The Old ]
\ < THE BANK OF LANCA
6 ^ CAPITAL
" JJ SURPLUS
Loans made on Real Estat<
8 U Collections given prompt a
N Interest allowed on time d<
1 Your business solicited. 1
~~~~ '?rr "
IIIWIBIIMIIWIIII
Kailuxtji|
system
ng car service.
ln sleeping cars
ains. Conveni
all local trains,
ates are now in
ida points. For
i as to rates,
>ult any Southcket
Agent, or
twmmammmmmammm?mmmmmm?mamammmm
A., R. W. HUNT, G.P.A.,
Charleston, S. C.
A~
Reliable." - U
STER, Lancaster, S. C. V
$50,000.00. M
$50,000.00. ^ *
8, at reasonable rates. H
md careful attention. K
eposits.. ^
^ne oldest, the largest and |1
ster county. jg
jpon the staple tor clothing. Let
lie appeal to you now while it
8 yet time, to pause and rellect
ind not rush headlong to fatal
lestruction by planting an increased
acreage in cottou this \
pear. A short crop will pay you '
iood profits, a large crop will
nean uot only disaster tor you
personally, but for the whole
South. Let t?s act with wisdom
md discretion and let the consuming
world understand that
ve can and will manage the coton
crop of the South on a pro- K
liable basis to the producers.
WORK OF ORGANIZATION.
In conclusion let me impress
jpon you the high importance
it extending and perfecting the
irganization <f the Southern
Dotton Association to the end
that every man in your town ^
ship or precinct wi\l speedily become
a loyal and patriotic member
of this great movement.
\T L. _ 1 ? I i
nutnuig own ue accompusnea
without systematic effort and
thorough organization. T h e
forces with which we have to
contendihave b en organized for
fifty years and have unlimited
resources ot both brains and
money. Learn to have confluence
in your association and
its leaders. Determine to contribute
to its support, that its
efforts in your behalf may not
be handicapped for the want of
friends. Combine with your
local merchants and bankers to
safeguard and protect the value
of your great staple crop from *
the withering and blighting *
hands of its enemies. Cut down
your cotton acreage, increase
your food supply crops. Live
at uome. iioia your cotton lor
fifteen cents and victory will be
yours before the bot days of ?
summer are fell over this land
of 1 lie free and tbe brave.
For Sale
I will sell to the high- A
est cash bidder my (
Blacksmith
Shop
including all my tools,
forges, etc.
Don't all speak at once.
F. R. MASSEY.
/ i
c>