570 AGRICULTURAL ECONOMICS 



The sum of the cost per 100 pounds for transporting cotton on 

 country roads, on United States railroads, and across the Atlantic, as 

 estimated above, is 88 cents, and, with an allowance of 2 cents for 

 transfer to ship at some United States ports, the entire cost of carrying 

 may be taken as 90 cents per 100 pounds. 



The mean price of cotton in England for the twelve months ending 

 June 30, 1906, was about 12 cents per pound; the annual mean of the 

 cash prices for Upland middling cotton at this market at the close of 

 each business day for the year mentioned was 12.1 cents. The mean 

 of the daily closing prices for Upland middling cotton at the four 

 leading export cities of the United States for the same year was n 

 cents. The difference in price between the four leading cotton ports 

 of the United States and Liverpool was, therefore, i.i cents per 

 pound, while the cost of carrying the cotton across the ocean was 

 about one-third of i cent per pound, leaving two-thirds of i cent for 

 profits and other items, such as insurance, selling commissions, and 

 cartage. The total cost of transportation from United States farms 

 to Liverpool, including cost of transfer to ships at United States ports, 

 was about 7 . 5 per cent of the value of the cotton in that city. A 

 summary of the transportation costs for cotton mentioned in the pre- 

 ceding paragraphs is given below: 



*- 



Farms in 555 cotton-producing counties, by wagon, to local ship- 



ping points ............................................ 16 



200 local points in Texas, Indian Territory, and Oklahoma, by all- 



rail routes, to Galveston ................................ 54 



347 local points in Mississippi, Louisiana, and Tennessee, by all- 



rail routes to New Orleans .............................. 23 



738 local points in Georgia, South Carolina, Florida, and eastern 



Alabama, by all-rail routes, to Savannah .................. 41 



298 local points in Mississippi, by all-rail routes, to New York. . . 48 

 402 local points in North Carolina, South Carolina, Georgia, and 



eastern Alabama 



By all-rail routes to New York ....................... 65 



By rail-and-water routes to New York ................ 59 



Local shipping points to seaports, average for United States ---- 40 



Gulf ports and New York, by regular steamship lines, to Liverpool 32 



Savannah, by chartered vessels, to the United Kingdom ......... 32 



United States to United Kingdom, average for all ports ......... 32 



Wheat. The average farm value of wheat in the United States 

 on December i, 1905, was 74 .8 cents per bushel, and the average cost 



