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PAGE SIX
Os Interest to the Wealth Creators
NEW YORK COTTON EXCHANGE
BOUND TO WANE.
Os course, the crowd favoring
poker-chip cotton won out in the
New York Cotton Exchange election.
A reform ticket was in the field, but
not a man on it was elected. The
New York contract will continue to
permit the delivery of low grade cot
ton at more than its real market
value. Such performances as were
seen last month, when May contracts
were quoted at 10.78, and spot mid
dlings at 11.95, will be repeated. In
view of the grass and undeniable
abuses, all working against the cotton
grower, which this exchange counte
nances, it is no matter for wonder
that the entire New York system has
been denounced as a scheme of New
England spinners to depress prices.
This charge, of course, can have
small foundation. Much more rea
sonable was the contention of Mr.
Mac Call, retiring president of the
National Association of Cotton Man
ufacturers, when he declared in his
recent address that New England
spinners, as a class, favor high-priced
cotton, in order that the resulting
prosperity of this section may make
it a hungry market for their goods.
Those few who have had the nerve
to attempt any public defence, how
ever weak and evasive, of New York
Cotton Exchange methods offer an
excuse with which New England spin
ners have nothing to do. New York
is at such a geographical disadvan
tage in handling cotton, say these
apologists—to the extent of $1.50 a
bale, says one —that the expedients
complained of are necessary if it is
to hold its place; it must counter
balance this disadvantage by cheating
the customer a little, giving him a
grade not so good as he contracted
for and expected to recieve. Ne'w
York, according to these writers,
simply cannot afford to do business
on an equal footing with New Or
leans, backed by the cotton fields, and
Liverpool, backed by two-fifths of
the world’s spindles. If such is the
case —and this pro-fraud argument is
an admission containing at least a
large kernel of truth —the sooner
New York abandons a position-tena
ble only by such methods the better
for all concerned in legitimate cotton
trade. New York is not a natural
cotton market of any •'large propor
tions; it is important only because it
has more speculators and more
money to speculate with than its
rivals. Its activities make the entire
cotton trade much more highly spec
ulative than need be. Bales of cot
ton —many of them stuff such as no
other exchange would think of foist
ing upon spinners—are used as mere
counters rather than as articles of
merchandise. The sum of the whole
« matter appears to be that a large
majority of the New York Exchange
prefers a large gambling business to
a small necessarily speculative but
legitimate business.
Fortunately, this stale of affairs
offers its own remedy. Before long
New York will be compelled to real
ize that it cannot continue to control
the price of actual, spinnable cotton
WATSON’S WEEKLY JEFFERSONIAN.
by gambling in poker chips. More
and more, New Orleans- and Liverpool
are going about their business and
leaving New York to name fictitious
prices for fictitious cotton. Soon no
body concerned in the actual saple
will care what the New’ York quota
tion is. The day is at hand when
cotton will be to New Orleans what
wheat has long been to Chicago.—
Charlotte Observer.
FARMERS SHOULD TAKE AN
ANNUAL VACATION.
We have frequently urged upon
farmers the value of an occasional
rest from their labors. We do not
agree with many writers that the
farmer is the most down-trodden and
least appreciated of all other profes
sions or callings of man. We take
no stock in, nor have we any respect
for, any man who goes about the
country bewailing the conditions of
the tillers of the soil and trying to
make the farmers believe the balance
of the world, the flesh and the devil
are against him. Such a one is a
malefactor and an enemy to the best
interests of all, but principally and
chiefly he is the enemy of the farmer,
whose good opinion he is trying to
get hy trying to damage others, the
farmers’ real friends. But this is
not what we were talking about.
This year is a good time for the
farmers to break the habit oF staying
at home all the time and not trying
to find out a little something about
what is going on in the outside
world.
The Jamestown Exposition is now
on, and in a little while the railreads
will be selling round-trip tickets so
cheap that people can go to the Ex
position almost cheaper than they can
stay at home, and every one w 7 ho can
should avail himself of the oppor
tunity and go to the Exposition for
a few days at least. You can see
more there in a few days than you
could see in years of travel, and see
it so cheap, too, and only be away
from home and your business a few
days. No other such opportunity
will likely come in a lifetime, there
fore, again, we say, see the James
town Exposition.—Plantation Life.
FARMERS AND TRUSTS.
The New York World says: U IT.
IT. Rogers professes to be astonished
that Mr. Roosevelt should advise
farmers to combine. But he will
please notice that the president did
not advise the farmers to demand
rebates or to drive the small pro
ducer out of business.”
This serves to point the difference
between the good and the pernicious
combine and also between a proper
. combination and a trust. If the
farmers get together for mutual pro
tection their union will have little
analogy to a grasping monopoly that
boats down competition by al! pos
sible means, fair or foul. Mr. Rog
ers’ suggestion of a comparison be
tween the farmers* organization and
a trust was not a happy one from
his point of view, and does not serve
to prove the virtues of the Stan
dard Oil Company.
A farmers’ organization for legit
imate aims pertaining to agriculture
and the farmers’ interest is com
mendable and has no sinister pur
pose akin to that of the gigantic cor
porations that have endeavored to
place important products under the
control of a few individuals for their
profit and to the detriment of the
general public. A farmers’ trust is
impossible. A combination of farm
ers for the purpose of placing the
price of staple products beyond their
true value would be utterly imprac
ticable. But there are many things
that farmers can do by intelligent
co-operation to promote their inter
ests, and when the farmers prosper,
the country generally shares in their
good fortune. A farmers’ organiza
tion that will keep cut of politics
and devote itself exclusively to the
advancement of agriculture is al
ways to be commended. —Nashville
Banner.
CROP ESTIMATES.
The government cotton crop report
has been pretty well digested, and
its general tendency in the markets
has been to depress the price of new
crop cotton. Better weather has pull
ed in a like direction, and between
the two, new-crop cotton is settling
down to about 12 cents.
The general opinion seems to be
that the government has not overes
timated the acreage. When a farmer
sees in sight a chance to get S6O a
bale, he will not cut down his acreage
except upon actual and overwhelming
compulsion.
On an unchanged acreage the best
expert opinion points to a crop of
12,000,000 bales, provided the rest of
the season be generally favorable. An
acreage that produced in 1906 about
13,500,000 bales, when the initial offi
cial condition was but 16.4 points be
low an ideal stand, may grow 12,000,-
000 bales even when the initial con
dition is 29.5 points below the ideal.
Very many are, however, inclined to
say that 32,000,000 acres will not, af
ter long lains and chilly weather,
make more than 11,000,000 bales.
The world will demand from us 13,-
000,000, and even a 12,000,000-bale
crop will be worth more than 12 cents.
An eleven-million-bale crop would
point straight to 15-cent cotton and a
cotton famine. The increased con
sumption of the world should not bo
overlooked when the probable price
is considered.
A bull year in cotton is the pres
ent outlook, and the effects of good
weather upon a large acreage will be
pitted against unfavorable weather
conditions and the inroads of the boll
weevil. It is a good guess that the
latter may cut the outturn down to
11,000,000 bales, while the former
cannot at this late time in the season
carry the crop beyond 12,000,000
bales.
THE FARMERS’ BATTERY.
The Farcers’ Union is a veritaVe
battery of thought—a great educa
tional and moral force, which radiates
from center to circumference, bring-
ing the farmers together in a mighty
unity on the grand principles of jus
tice and fraternity. The awakened
farmers of America have become con
scious of the untold wrongs commit
ted against their class, and realize
that an injury to one is an injury to
all. They have set about to correct the
evils and right the wrongs from which
they suffer. The mighty hosts of out
raged farmers, speaking as one man
speaks, will be recognized and re
spected by all thoughtful people, and
feared by the marauding cohorts of
self-appointed gamblers and ex
changes.
That the crops of a great nation,
the property of a nation of fanners,
should be arbitrarily valued and
priced by a lot of self-appointed
gambling speculators and so-called
exchanges who assume to be guar
dians of a nation of farmers, and
then-dashed on the market without
a protest is enough to cause all
thoughtful citizens to stand abashed.
Unorganized, w r e are sure to suffer
crushing defeat, when our fine crops
are sold. But with organization, and
farmers co-operating, the gambling
speculators will be forced to take
their foul hands out of the affairs of
farmers.
The rising spirit of education and
intelligent co-operation, backed by the
great moral force which results from
the organization of the greatest class
in the world, the farmers, will ulti
mately force the world to treat the
farmer equitably.
The farmers have combined for a
good and holy purpose, and the bond
of unity that holds them together is
found in the adjustment of equitable
relations, in the betterment of their
material conditions, which has its ba
sis in love of God and the neigh
bors
This battery of thought is destined
to envelop the earth, and the evil
forces are already feeling the power
of this mighty battery, and every
time the machines of evil come in
contact with the battery of the farm
ers they writhe and squirm and drop
it like the negro dropped the tur
tle.
We are proud of the inspiring
hosts of united farmers, and the sur
prising growth of this great unicn is
giving increasing confidence and cour
age, instilling new hope and life ev
erywhere.
The local unions are the pillars of
strength of this mighty movement.
To strengthen them should be the de
sire of every member.
The material of this great organi
zation consists of the units at the
school-house. Therefore, building lo
cals. ought to be the concern of all.
Each local should keep en rapport
with the heart of the movement, and
feel the vibrating influence of the
union in every state.
This done we cannot be over
whelmed, but the machines of evil
will be overwhelmed by us.
Join the union. Make the battery
strong! Turn on the current! Let
every member clasp hands and feel
the impulse!—National Co-operator.