| Show I l The n Importance of AmerIcas Cotton Production 1 BY THEODORE H PRIGS PRICE authority on an cotton collon 1 UE IF recent tremendous 0 activity In lIe tho cot 4 Ii j ton ets ot of the thc I world resulting from VI the ot of the tho hi government crop en cs 4 f or at 9 bf r bales 1111 surprised many not familiar with tto tho nud Importance ot of Americas cotton colton Tun late henry Honry W V Ura Orld ot nt Atlanta Oa in known us tile tho sliver tongued or ort slot ot at the tito sonth soot t It In t I a very r speech h ot of lda hili thus tho cotton plant R ant I n y plant It 1141 1111 The Tho world l vU rid 1 In III attendance on II Its growth i the tho e that fells au Its leaves Is heard around the tho earth the theRun sun Run t nt shines on III it II J Is tempered Iy Ity the tho ot at nil 1111 the people frost trost that chille It and the dew that descents I frown the stare fire uro noted mind the tres tlell trespass pass pails ot of n little worm un its ilK green leaf la Is more to 10 than the ot of the army Oil on her hel out posts It Is IR Gold train from the Instant It puts tort Its tiny its 1111 fiber is III current in III every blink bank and when luos 1001 Ing Its fleeces to too the lIun 1211 It Il Plods 1 It banner bonner that the Skids ot of the humble farther farmer that Is marshaled under a Slag lIag that will com cori pet the allegiance ot of the tho world and andring ring n a subsidy train every on onearth onearth earth It is IH the heritage that God Gad gave to tills people cople forever its 1111 their own when ho arched our skies our mountains girt us its about with the ocean loosed the tho breeze breezeR tem rem tempered the tho Run and measured the tho rain Ours flint Imd our forever As princely I a talent us 1111 ever chino from Ills to mortal p 1 Expressed In iii colder statistical for tor multi air II may bo be reduced to tn the following facts Thirteen southern states ot of the od t 1 Ir c about t SO per a cent ot of lie tho worlds cotton colton Ian the tho value alue ot nt the tho crop thus produced being b about 00 It 11 Is III the tho third most moat valuable crop croll produced In the United From Irom It there thoro is 19 spun mid woven bO O per Ier cent ot of the cotton colton fabrics worn by the civilized world mid to food cotton collun Ions hns the most ell essential ot of liO 50 clet I Tile rho cotton exports frown the United Slates for tile tho past ten tell years have fur tur III unshed hel ot of the tho balance ot at trade trude in III favor ot of the United States Slates and without this crop America would doubtless he have been a debtor Instead ot of n Cl creditor n nallon nt the tho worlds clear clearIng InG The or of the thirteen south southern ern states producing Is souls louIs Tills entire Is III interested In more or orless less affected b by the tho price ot at Its prIncipal product According to the tho last laRt census ot of the United States the number ot of wage earners engaged In the tho ot of cot cotton ton tOil spinning and weaving in III America was and the class similarly In Europe Great Is conservatively nt at We have thus 1 a total ot of probably not less than people Interested in III inand and dependent upon the tho cot cotant tOil ant crop crup The Tho volume ot of commerce and t speculation thus generated is 19 im hll immense mense I For ol tho Io tt most part parI It III COli co n upon I n the Great exchanges of New York New Orleans and Liverpool but other cotton collon ot of minor importance suCh as those at Kobe Ja In Havre I France and lIu y India Iu du a large b bOsl lAI ness rile rho aggregate ot of nil all the cotton exchanges ill III the thc world Is hI not nol less than the tho aggregate quantity or at cotton bought cud amI sold daH daily upon these cotton ox ex chauges will average mil lit least bales or bides bules for tor the entire y ar For there thero Is nu an charge ot of 6 cents per bale so HO that the toad commissions earned tine the various exchanges Is certainly not lest titan than on an In III to this the cost coat ot of the machinery ot of tills this the tho clerical y I I I Ia r a I THEODORE II H PRICE ln and the telegraph tolls Is probably tully count to the nud lIlI the cotton collon trade trado Is therefore with nn an an dual charge lit of ut at least width which must hc be paid laid before as U at whole can profit How easily this charge can be borne In such lIuch Il a year ear IS as the present Is however quite when It Is IH realized that the advance re established ot of about 10 per bale Is equal to u a profit ot of on this years pr production ot of cot tot tOil and that the tho extreme variation In ht price which bus hus occurred during the present season sonson Is equal to on the entire American crop Tile force ot of such speculative move movements ments us IS the tho I us just JUHt seen pro 1110 lag l r oA l f fi F FIs C t Is such an public po potential Interest terest In t cotton market n While 1 tile the walt unit of trading Is 11 bales In times ot of great activity there thero lire are u n large number of speculators who 10 not hesitate to buy anti sell lIell dally front from 1000 to bales of cotton Ata At n a loll Ion estimate there are 10 inter interested ested In III the tho cotton market us specula the buyers or sellers ut nt least people In ill times ot of grant grent specula speculative tive activity the number Is in probably doubled or tripled It people buy only bales ot of cotton apiece the total purchases made mire to toO O bales ot of cotton colton nn pithy now trading bu buy 1000 bales bule apiece the volume of such speculative lt at limes lit Is probably or triple the line entire American cotton collon crop It a Is not surprising when these facts are nto that the recent advance In cotton has occurred and when n a change at takes place It Is not impossible that a 0 reverse market markt viii develop that will be equally extreme In fn the effect It creates As regards the tha between and this year It Il Is IH to tobe o obe be sled I 1 that shows that thelo is s f hardly ly any uny article ot of commerce I the for tor which Is ns as elastic UK as asis is III the demand tor or cotton A piece ot of cotton Goods whether wilether used nil as a sheet or n a shirt or n sail or a frock lasts u upon on nn an average for tor about u year hut but buto when cotton is III allot gods o am 1110 a cJ oX Ilen Ie lve that It can t bo be to t a hut n II Ye a Ir and n Cl half amI when s g t tar for cotton goods co ca coIncide with hard hartl tines timeR and II a thin ot of the tho power ot of the the effect of economy upon the tho durability ot of cotton fabrics Is liston In the tho past It hl been beon that city In the colton crop croll hUll hits been ulon offset by this disposition to economize In the tho use 1110 of cotton fabrics rod this fact has lIIs upset tile the ot of speculators win wh hive have figured that time the was nuns compulsory that the world buy cotton collon nt any price will be the case during the present senses season to ho he seen It 11 Is certain that the tho widely advertised activity of cotton 1 lion tinn at present has peo pin III who lo do not lIot want the tho article to buy It and that It the they are aro dIsappointed in III inthe the tho ultimate train from consumers the tho cotton colton that Inns hus been Iteen bought by those thos who do not use It In tits tho hope ot of nt at a to those who du do Will trill came upon the market markot with the ot et of provoking from present |
