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A TALK 0 (New Orleans, T^eadij XJnited States,'5 is ? New Qrleana, La., Jan. 25.?-"New Orleans, the Loading Cotton Exchange in the United1 states," was toe sub ject of an address by Hob. A. Brit tin, president pfjthe New Orleans Cot ton Exchange. Mr. Brittin said: The birth of jojur exchange was coin cident with a new trade situation; an evolution arising from changed con ditions following the oivil war. Rail roads were supplanting steamboats in the carrying trade. The early and hurried marketing of the crop in the first months of the crop year made an altered situation which required the application of new methods in handling^ the staple. TO MEET ISSUE. The exchango came into being to meet such an iasue; to bring to the Sonth the benefit of modern methods which saved to the : toiler in the cot ton fields millions of hard-earned dol lars fovL?orly engulfed in the oost of marketing cotton; to retain in the ootton belt the control of its own great staple, and to conduct a cam paign of education which has finally plsoed the man behind the plow on the same levains the merchant or lancier who expended thousands for Information which now at a email cost is within reach of the lowliest member of the trade and is daiiy flashed over the wires to nearly every village and hamlet in the cotton-growing regions. This, it was reoognized, was the only means of wresting from centres frj removed from tho cotton belt, and from across the Atlantic the power to dictate the price of cotton while the crop was being marketed, and to ad vance it for speculative purposes efter it had. passed from the hands of the produoer. It was this campaign of education , inaugurated by . the. New Orleans Ootton Exchange, so ably seconded by other aimiler institutions afterwrids inaugurated, in leading southern ceh&r?B, which haa made possible a great convention, euch as I am now addressing; for there is not a man Within , tho sound of my voioe who does not know today as much or more ; about cotton, its value la- 'the, great marts of the world, its movement to market end other, important prin ciples conneotod therewith than many of the foremost merchants and finan ciers did in th? days before ootton ex changes, to tho New . Orleans Cotton Exchange tha? statistics for merly encompassed in darkness are now as clear as the noonday sun, so that, ho who runs may read and de cide for himself what are his own heat interests. One of the great benefits resulting, j I may wSB?i?n, has been tho bringing of producers into closer touch with consumers, the . manufacturer thus [avoiding in great measure thS hitherto sssUy and expense of the middle . But time uocn not allow me to speak further in detail. I wilt not weary yon with a long recital of the extensive commerce of our exchange. In a word, it Covers not only nearly a fourth of the cot to a crop of tbo South, which annually passes over our whar ves, bat hundreds of thousands of ?les purchased by oar members. end shipped across the country by nearest ar more i convenient route* jto the rorld'a spindlea. YEA?B OF 'LABOR. To maintain this t bpremaoy aa the reatesfe American market far the sale cotton: ' to continue and increase ew Orleans as the great commercial etrOM?is of A* Sszih, s?? uc Berve the pride with which the eouth Irh people look upon their great me iropoiis haa ooet days, months and Jeara of ceaseless vigilance, laboring nd fighting against odds which at Jitcea unaurmountablc;/ but fe worked : together breast to breast, ated by the spir? fe of our aires j ??s oy did and you fcave'dotte, build poo the, aahes of the, past an em* of wealth aod pro?t>pr?iy v7?:*ih rho rapidity of its' grpwth haa jome to be tho^wonder of the world; sij: as this oonVeuiion of southern &6? ;^i!i^o' l |?=solyiog a question ^5n, ihongb: by ,;W:'?^l?es* and qu^^eiermib" ion be ehwigeo: ib a biasing in dis me to the coasVderaiSon ;th?.:\ttGin?aioB* proposSi??a to be .??^,i?^?es g>eeV>ae*<nr* :;?t?WM& Ajttefc' 3fn*, [a*, bufc s>fa>^6aehVhg a*,te *#?et 5a h*rk?d:0^ee'thV Koottnt?y. . fiemafl?dsr hr?$?just^a: Iports of :raW oo^^^a^?ul^?^to b?ir??* W^e?t$,the jfcte?les of the laUi;*^ . i att>'Vmiltfcu N COTTON: ag Ootfcon Exchange in. Subject of j?uddress. bales valued ai neatly $250,000,000, that vast sum towards settling the .trade baianop of the country. Of lue present crop we had market ed and sold by the close of November say in round figures 0,120,000 bales at an averago per bale *of $51,84, bring ing $317.243.000; and up to tho oloso of December we bad marketed and sold 8,011,000 bales for which we obtained $388,450,000. These figures are not guess work, but actual trntbB carefully worked out from facts;, so that wo have received for the amount of this crop marketed during the fir?t four months of this season $106,728, 000 more than we did for the entire groat crop of 1898-99, which up to this year was the greatest ever pro duced.. Here are the figures: (Cotton crop season 1898-99: bales 11,274,840; values, $282,722,987. Part of ootton crop 1904 05, mar keted to Deoomber 31st: bales, 8,011, 404; value received therefor, $389, 449,131. So that we have not done so poorly thus far this season compared with 1898 99 or any other season exoept last year. I do. not wish to deluge you with. figures but give you those of the last six years; say *of crops and values, so that you -may think and ponder over them and know that the southern country is strong in its abil ity to carry out what this convention may determine upon to protect tho re mainder of the present vast crop. Consider them for yourselves. COMMERCIAL CROPS AND VALUES THEREOF." Bales. Values. 903 04 ... .10,011,374 i $017,501,548 1902-03.... 10,727,559 480,770*282 1801-02.... 10,680,680 - 438,014,687 1901,01.... 10,382,422 494,567,549 1899-1900..^ 9,436,416 363,784,820 1?98 99.. ..11,274,840 282,722,987 So that barring last year we are within the entire total of the highest valued crop above quoted by $106, 000,000: This is no reason, however, why we should permit the remainder of this crop, be it ^S?O.?C? or 5,000, 000 bales '(according to the agricul tural oi census bureau pointers) to he disposed of at ruinous prices. At the now. ruling price,, say - 7 cents per pound for middling, this crop, if 13, 000,000 bales, would bring, say: Sold to December 31st, 1904, 8,011,000 bal?s for./.$389,450,000 Remainder, ., 4,989,000 bales, on basic of 7o and 521 pounds per bale, about "this year's aver j ..t? 181,949,000 Or for the entire 13,000, 000bales.,....... $571,399,000 Or say over $46.000,000less than'last year's crop of 10,011,000. This, under the most favorable oiroumstanees. For if it had been known or supposed the Washington bureaus mq?q going fco announce 12,500,000 or more,, inc?u& | ing liniers, wo never would haV-C jce eeived within $100,(KM),000 of 'the $389,000,000 above stated for the first eight million and odd bales "marketed. Sp that if ibe South is not'almost ruined by this year's excessive plant* ing it is only because of the inter vention of divine providence If you don't believe this, look'at the actual facts: The amount marketed in Septem her of ibis year was 1,362,336 bales; it brought $56.47 avera?attarvbs!ej er.j say a total of $76,391,113." In December of this y ear'we, mar keted 1,891,644 bales; it brought ! $38.17 average per bale?a total say of $72,204,050, or $4ii87,000 less than tho ?eptemK*. marketing. In brief, j after Mr. Hyde's report was published, values dropped so that practica 1630,000 bales.(the difference between amount marketed in September and ?qeembe?) sold in X?apembar osmpired with September values over $4,000, 000?less than nothing. . I do not say that Mr. Hyde's report did this: damage, for had h? end Mr. North GO?told us it might have dawn ed apon us later in the way of exees ??vc receipts and produced unheard of disaster, x SIStJLT Of JPORBWABNIKG* it -?ovation/?is.the result o? f?i^Warnieg. and it is hoped will oily proilt thereby. ' |^^;prednc?;:~a *rop of seek de, Jfernishiog such lar?e aur 1*3 aoi necessary, to a^fc'^oasomp tive requirementst And at such cost to produce conceded surp?as! Why I not divweify erOps I It is certainly various causes, sash as sales for f utero I delivery on the l?verai voxchangea of ! America and Europe. Cotton is low ! in price by reason of one causa and I one oauae only. Remedy or removo that cause and values will go up with abound irresistible to the combined I short selling of all the "boars" on I earth. You have but to soaa the re-1 cords of the two yesra past to abun- ! dantly prove this. No! Values of all earth'8 great produots are regulated by an unchangoable law .of supply and demand. All the records of the past confirm this statement and I ohaltengo contradiction of the verity of this! stubborn fact. It has been thus in I the past aud wilL so continue till time I shall be no more. Man is utterly im potent to more than temporarily arrest the operation of this ?conomie prin- I oiple. It is nature's law, ?od's law, and you might as well attempt to dam i up the waters of the majestic river which flows past our door with oorn-1 stalks as to impede, except as I say temporarily, the operation and effect ! of thie ever continuing law. What produced the great advsncc of the 1 staple last season? The records reveal the fact that there was moro short I selling of cotton for future delivery j than any previous year of trade his tory. * SUPPLY EXCEEDS DEMAND. With tremendous selling prices ! rose higher and higher in the face of I most strenuous opposition by parties of immense wealth and resources who I were swept aside like feathers in a I whirlwind 'till values reaohed ? plane I when trade could not profitably make use of tho article; or in other words, supply though limited was found more 1 than sufficient to meet all legitimate I demand. As a natural result pri?es I quiokly fell to a point at whioh the consumer again became a purohaser. I I am not called upon to explain or de-1 fend the future oontraot system,, nor would I trespass upon- your patienoe so to do even if the oocasion was fit-1 ting. I know fall well it makes speou-1 lation easy and is like other good I gifts, liable at times to abuse, but it is a system, as I see it, indispensable I to the cotton trade aB conducted by modern methods, and whioh I dare affirm has generally an uplifting in- ! fiuence on values; it has come to stay, ! and in my opinion is of greater ad van-1 tage to the produoer, enabling him to | market his crop at one-fifth of ante bellunrcharges, and for other reasons whioh there is not time to mention, than either to middle men, manufac turer, or consumer. If you will take the trouble to search the past reoords you will find fluctuations in prioo more violent anterior t o the inaugu ration of the future sy-jtem than since. Fluctations in response to wild specu lative dealing were due as well to legitimate causes then as now. Cot-; ton, as all will admit is doubtless be low cost of production and therefore, unprofitable to the produoer. You g eck a remedy, or rather I should say a proveotativo. $here is but one pos sible and one only. It is supreme t fplL" *? seek any ether. As these low J prices follow as the result of threaten ed over supply, it is hopeless to ex-1 -$e?i *' restoration of values Hill a re-1 duetion of such supply ia made coa-, mousurate with the world's demand: and requirment. Hqw is that to be done? You are here to give response to that enquiry. Plant leas cotton, reduce tho acreage, say 25 per coat, at least, and you have the remedy be yond question. Sven so, this will still leave land enough under culti vation, with ? fair oea&ou, to. produce a supply quite sufficient with the great surplus which promises to be carried over from thi? crop for disposition the coming year, to afford tho world's rjnilis enough for consumptive require ments on a basis of fair and remunera tive prices. 'MEASURES ARB NEEDED. I would not draw a dismal picture of what will come to pass if this rem edy is not applied. I Can only re peat, it is absolutely hopeless to ex pect j.ny permanent advance unless suob measures are adopted. With any failure to do, this, it appears to me wo shall again enter. a period of painful and severe doprossion which will, engulf thousands in absolute ruin. Remember, low prices for ootton un favorably affect all ?s!?c? i ?; the cot ton producing States, and Whether it (be bank shares, real estate or Other pitesfcmonts, the fact remains the evil effects are reflected in every and all the avenues of trade and commerce, ? wire you not to: oe misled^whea planting time arrives by any tempor ary advance- which then or meanwhile may. occur, and on such aeoount fail ao.o*rry iato rigid ?ffea? any agir**-: mant reached by yott looking to sero sye reduction. jDo ftot be lured to ruin by any auch falsa, hope, 'At?; aurel jr as lead si nks in the water* of ; seawi^v 4rp^pcd' therein t?ll prices sink to ? still lower level than have yot been reached flhould it abmc to pass there is no substantial ootton acreage reduction. I warn you; also that the facia of the case will -be quiokly and accurately ascertained^ and made known to the trade imme diately wnen';planting is , eooc?n?>d. ??^ great are the ift^er^etS) (aio?v?d ' you may be sure paid agents will bo' Columbia Soluble Guano? Made from fish. and. animal matter. Has no eqnal as a O otton Fertilizer. OOLTJMBIA C3-TJ-j?^3sro OOMPAITY, NORFOLK, VA.. fcS-r* FOR SALE BY -a* ANDERSON, S. C employed to gather statistics and facts regarding the true situation, that even in advance of the government re ports and independent of them, re* suits will be known which will so fatcfutiy influence values up or down. Passing from this consideration let mo say, in my judgment the raising of this single great crop, provided it is followed by a moderate one, is not an unmixed evil. For we have demon strated to the world that these Ameri can States can easily furnish the looms of the world au ' all sufficient supply of the great staple. .Our pres ent trOubi* consists in the fact we havo run ahead of immediate require ment. With organisation among the planting community it is to be hoped production can be so gauged as to keep pace, and keep paoe only, with trade' requirements. In nearly all msnufaoturicg departments trade com binations are made so as to restrict output to oonform to trade demand. We live in an age when these combi nations are the order of the .day, and whether we agree or not that ouch are for the best interest of the public at large, the fact remains such combina tions in trade are of oommon occur rence and ore quite the order of the day, and to keep abreast of the times you muot meet combination T?ith com bination. It seems to me there can be no great difficulty for the farmers of these 800 or more cotton producing counties to- organize a general union, and from this head contro organize cub organisations in each couuty and every township therein throughout the entire cotton belt?all under the control and government of the general order. COTTON. DEMAND INCREASES. While this great crop has given to tho world more cotton than is present" ly wanted the time,is close at hand when a thirteen-million bale crop will prove entirely inadequate for the de mand. In Justification of this.pho pheoy let me quote from an eminent authority: "The consumption of cot ton has increased so -greatly within the past quarter of a century. that there would appear to be no limit to its future DOaaihiHlleBi ?i is esti mated that of the world's population of : 1,500,000,000 about 1300,000,000 regularly wear clothes, about.750,000,? 000 are partially clothed, and 250, 000,000 habitually go almost naked, and to olothe the, entire population of the world would require 42,000,000 bales cf 600 pounds each. It, there fore, seems more than likely that the ootton industry will go on expanding until the whole inhabited earth is clotlicd with the producta of itu looms. This is not an unreasonable conclu sion when we consider the fact that cotton is the cheapest material for clothing known to man." . Can the South respond to ou oh an immense demand? I answer unhesi tatingly yes. The South can olothe the world 1 The people of the old world who are searching the :aooks and corners of the earth to find auit ablo l?ii?a for cotton cnUnra need, but to turn their eyev hither, and find nere the lands and ample ability as demand shall develop to furnish all that is required at a pri?e profitable to the producer. In your life time nor mine the South need have no fear of rivalry at 10 cents for ootton. Let us see : COTTON PEODUCINO STATES. The twelve important cotton <pro ducing States oontain a total area of 487,798.400 acres, and of this total barely 32,000,000 acres were said by the United States Agricultural De partment to have been planted in cotton this season. In other words, Iptepne acre in about every fifteen was given to cotton. From ihU showing it appears not impracticable in time to multiply the area now dedicated to cotton culture many times from our laod till the peo ple of alt e?mes shall go clad in this gvest American prodeck : i have th^sdn plain words adv&uoed * fow tfcognta relating to the^ great in* dustry So whioh we all 9nd sueh im menseconoern. In tho immediate present you' have a great problem to solve, ac before stated* that or* restricting production to conform to pre??nt or ?t-ear future requirements . We are a .the par?ing .of .the.'ways, one road lea^| to certain olsaiter, the other points"*^* way to ai era of -renewed and prolonged 'um I um P I I " ' 'iu"f ""' if mimliwiiiiftatkiiiiiwf nip um prosperity. This is no time foi mere resolutions, whatever in resolved tnusi be followed by actiou, aetiou that counts for something?that will of.rry oonviotion and bring r?sulta. Iu your endeavor to accomplish all that is expected or hoped for i! bid you, inthdname of the great exchange whioh I havo the honor to represent, God speed. Proprietary Right. Little Edith had spent an afternoon busily searohing with nimble fingers through tho soft fur of her pet kitten, says Lippincott's Magazine. When she was through she oamo to report to her mother. "Oh, mamma,'/ ehe oried, I found a little fies on kitty, and I oaught itl" "What did you do with it?" asked her mother. 44 Why, I put it baok on kitty again, of ei?urso. It was her flea." ? Tho breath of suspioion is often flavored with'oloes. ? A pinny saved by a miser means a dollar buraed by his heirs later on. ? When a village youth makes a flying visit to the oity he has a bird of a'.me. BE HUMANE! Get your faithful Hesse a BLANKET to keep him warm these cold days. , We have them from 75c. up. H. S. JOyHSOK & SODS. " ? II'.'-- V >>.? ? IF that name stands for-square dealtajp and nraiy artistic?V PIANOS, That's what our name stands for. Call and inspect our handsome array of? zE>i.A3sros THE - C A. REED Music House, , % ANDERSON, - 8.0. Notice Final Settlement rViHB undersigned, Bxecator of JL th? assats ?l S..M. Gesr, daceas od, hereby ?iras notice that he will on aw^a?^?N?daSS ;i^S^^te-laV.GE?B? : Bxeootor. 1 JanU-xeeo, 30 Not??? t? Administr?t 07 s, Executors, Guardians .^rostees,. AXL Administrators; Eaecntore, G?ar dJaoaand Trust??? are hereby notified to make their annual Returns lo this office during the months of January and Feb !?#Wf*S rtdoired by law. B. Y. H. NANCE, Jodg? of Probate. JmnXUWX 30 6 Good, Flat Land, in g od state of cultivation and well im proved. - - - -. Wanted to SelL 132 acres, Hall Township?40 acres in bottom lands that will yield 10(X> bushels corn. Fair improvement. 148 acres, Savannah Township, known as Evergreen place. Well im proved, good orchard. 84 acres, Hopewell Township. Tenant house, barn, &o. 45 acres W cultiv \ion, balance woods and old fields. 152 acres, Rock Mills Township. Price 81200. 96i acres, Broadway Township. Well improved. Price S250O 87J acres, Varennes Towr?*hip?improved. 200 acres, Fork Township. il ' JOS. J. FRETWEIX,. ANDERSON, s. c? MOTT'S PENNYROYAL PILLS BSs'g . ' * or and banish "pains; of menstruation." They are "LIFE SAVERS" to girls at womanhood, aiding development of organs and body. Net" known remedy for women equals them. Cannot do harm?life becomes a pleasure. ftl.OO PER BOX BY MAIL* SolcE by druggists* DE. MOTT'S CHEMICAL CO.. Cleveland, Ohio. FOB SALE BT KVAWS PDABM Ad Y. Flooring, Ceiling, Siding, Framing, Shingles, Lime, Cement, Lathes, Brick, Doors, Sash, Blinds, B??aioiB, Turned and Scroll Work, Devoe's Paint, Lead, Oil, TurpsxUine, Hard Oil, Glass, Fatty, Etc. EVERYTHING THE BUILDER. l'on TBS IMPORTANT INVESTIGATE when fcr I need of any kind of? BUILDING MATERIAL. See me. If I don't sell yon S'il make the other fellow SELL YOU RIGHT. -W- Xj. brisset; ANDKRSON, 8. C. 2 0 < M M w H M W 00 This Establishment has been Selliog IN AKDEESON for more than forty years. Daring ail that time oompotitoiE > have come and gone, bnt we have remained right here. We have always sold Cheaper than any others, and during those long years we have not had one dis tie&ed customer. Mistakes will sometimes occur, and if aft any tisao wee* uud that a customer was dissatisfied we did not rest until we had made htm . satisfied. This policy, rigidly adhered to, has made as friends, true and last ing, and we ean say with pride, bui without boasting, that we have the ooufr denoe of the people of this ction. Wo h ovo a larger Stock of Goods this season than we have over bed, and we pledge yon our word that we have never - - old Furniture aft as close ? margin of psont as we are doing now. This is - !proven by the fact that wo are selling Furniture not only all over Anderson County but in every Town in the Piedmont section. Come and see as. Your r parents saved money by femyioa from us, and yo* and jroocr children ean savej money by buying hare too. We carry EVERYTHING la the Furniture line;. O, F. TOUY &'80N, tfcpot Stmt Tho/Old^BoliableiPurniturclDealej* MOVED! WE have moved our Shop and office below Peoples' Bank, in iront oi? Mr. J. J. Fretwell's Stables. We respectfully ask all our friends that need any Reifing done, or any kind of Repair work, Engine Stacks, Evaporate*^, o* any kind of Tin or Gravel Roofing to call oa us, as we are prepared to rib it? promptly and. Sn beat msaner.Jfifioliclting roar patronage, we are, * JE^tfblly, B?RIil?S & DIVT?^