202 COTTON 



He is able to calculate with more accuracy. As 

 a rule, he knows what his raw product will cost. 

 He estimates what his operating expenses will be 

 and sells his product, including his many items of 

 expense, at a profit as great as competition will 

 permit. While he has troubles to bother him, 

 they are small indeed when compared with those 

 of the farmer troubles that begin even before the 

 crop is started and only end when the last bale is 

 sold. 



The mere fact that the quantity fluctuates, is 

 enough to show that the farmer deals with factors 

 beyond his control. 



Let us suppose a cotton factory produced one 

 year 10,000,000 pounds of product, the next year 

 12,000,000 pounds, the next year 7,500,000 pounds, 

 and the next 9,000,000 pounds, all unexpected 

 results, not in the calculation of the management: 

 do you think if such results were produced, the 

 manufacturer could make any very close estimate 

 on the cost of 1,000 pounds of product; or do you 

 think he could remain long out of bankruptcy, 

 unless his profits some years were very great 

 indeed ? 



But the manufacturer may even sell his product 

 before he makes it. If he can arrange with his 

 labor, and purchase his raw material, he knows 

 within close limits just what his business will do 

 during the year. With the farmer this can never 

 be the case. He knows not twenty-four hours 

 ahead that some insect may not damage his crop, or 

 that some disease may not destroy it in part; nor 

 does he know that wet weather may not come and 

 injure bloom and boll and plant, or give him trouble 

 with his ever-ready enemies, weeds and grass. 

 One day he may be glad and rejoice for what his 



