Newspaper Page Text
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
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
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
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
:;?t?WM& Ajttefc' 3fn*,
[a*, bufc s>fa>^6aehVhg a*,te *#?et 5a
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
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,
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
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
Remainder, ., 4,989,000
bales, on basic of 7o and
521 pounds per bale,
about "this year's aver
Or for the entire 13,000,
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
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
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
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
'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,
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
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
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,
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
"What did you do with it?" asked
44 Why, I put it baok on kitty again,
of ei?urso. It was her flea."
? Tho breath of suspioion is often
? 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
Get your faithful Hesse
a BLANKET to keep him
warm these cold days. ,
We have them from 75c.
H. S. JOyHSOK & SODS.
" ? II'.'-- V >>.? ?
IF that name stands for-square
dealtajp and nraiy artistic?V
That's what our name stands for.
Call and inspect our handsome
- 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
;i^S^^te-laV.GE?B? : Bxeootor. 1
Not??? t? Administr?t 07 s,
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.
JOS. J. FRETWEIX,.
ANDERSON, s. c?
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.
Turned and Scroll Work,
Devoe's Paint, Lead,
Hard Oil, Glass,
INVESTIGATE when fcr
I need of any kind of?
See me. If I don't sell yon
S'il make the other fellow
SELL YOU RIGHT.
-W- Xj. brisset;
ANDKRSON, 8. C.
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
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?^