270 COTTON 



form of industry in this country. Hence, as profits 

 are increased because of savings in production, the 

 laborer and tenant will receive better compensation. 

 2. The cotton planter will receive his proportion 

 as a legitimate reward for his labor and capital. 

 It is true that many cotton farmers are making 

 money ; they, are improving their lands, their houses, 

 their stock and their equipment; they are building 

 better churches and educating their children. As 

 these increase, they call for better incomes to sup- 

 port them ; so the saving in cost will go to the plant- 

 er for greater comforts for himself and his family 

 and for reasonable luxuries as well. 



TEN CENT COTTON IS NOT UNREASONABLE 



Most arguments one hears about the price of cot- 

 ton are in the main to the effect that cotton sells 

 for more than it is worth. 



There are many stages of profit from lint on the 

 farm to cloth in the retail store. Nowhere, how- 

 ever, is profit discussed except in reference to lint 

 on the farm. Here are the facts in the case: A 

 one-horse farm of twenty acres produces 4,000 

 pounds of cotton which sells at ten cents. This 

 gives the farmer a gross income of $400. Looking 

 at this from the most optimistic viewpoint, that 

 farmer did not clear on this twenty acres more than 

 $80, and out of this must come interest, mainte- 

 nance and accumulative gain. The manufacturer 

 takes that cotton and from the 4,000 pounds he 

 manufactures 16,000 yards of calico, which sells 

 for $800 gross. Take it that there is but a small 

 fraction of profit on the yard, when considered in 

 connection with the great quantities handled, his 

 profit is no small amount. From the manufacturer 



