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. 
Itistrue 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 
