Dallas herald. [volume] (Dallas, Tex.) 1849-1873, 1869-09-25
The Cotton Factors os Calves.

Tie announcement OF MT hiheF VIII p
. found under the Appropriate herd.
{ The Cotton faCtOIs oS Calves
, TOS,
EnITORs News Our attention
has just been directed 10 tho Nav
asola Tablet, in which circular
letter issued by us on the 10th inst,
was made tho subject OF q leading
editorial of near n column in length
Tho editor anim0dvorts with in
temperate vchemence on two pas
sagcs In that circular, and rs the
, entire population of the city of Gal
weston, and the great agricultural
and mercantile interests of the
State are directly and vitality inter,
ested in tho question discussed, il
rises to the dignity Of Importance,
and should DO digested calmly and
dispassionately. In the interest OF
the great masses to be benefited by
n correct solution of tho question,
wa propose TO notice briefly the
editors arguments; or rather Mt.
tacks, for hc does not attempt even
ioebly to rcfutc q single position as
sumed by us.
lie quotes the following passage
from our circular:
ave have no merchandise of any
kind for sale. For do We buy or
speculate in any way in cotton. Be-
lieving, as VIC do, that factor who
speculatcs in cotton, places his in
terest in antagonism to those of his
patron, and jeopardizcs his own and
his patron s safety, We pledge our
selves, under no circumstances, to
engage, directly or indirectly in
buying cotton"
And addressing himself to the
cotton factors Of Galveston with
the evident hope of arraying them
in opposition to us in this matter
says: "they will swallow this with
extreme difficulty" We assure the
gentlemen that We but speak the
universal sentiment of every legiti-
mate cotton factor in this city, when
we condemn speculation in cotton,
on tho part Of cotton factors, as
tending to corruption, and as joo-
pardizing to frightful extent the
interests of the planter who ships
his cotton TO the Spectator for sale.
The cotton spcculator and the gam
bier at cards are sailing in the same
boat. They may make money for
season, but at somo period they
are inevitably destined to ship
wreck. The rises tho cry of the
strong man and tho wall of the
widow and orphan, whose hopes
and fortunes have gone down in the
remorseless waves. How many
such distressing cases can the editor
recall to his mind in The last three
evcnttul years? or the many dis
astrous failures in commercial cir
ces in this city, Houston and Now
Orleans since the termination Of the
war, involving the destruction of
the fortunes of hundreds of now de-
pendent families, almost every one
is traccable directly or indirectly to
speculation in cotton. Wo do not
believe tho sober Judgment of the
editor approves Of this nefarious
and dangerous practice, and We feel
sure, if he were to send ono hun
J,al h,1oo oP ooffop RI fh;, n, N ,,1t ri
for sale, he would consign it to some
factor who confined himself strictly
to legitimate commission business
and refused to speculate in the sta
pie. The irate editor next quotes
from our circular the following sug-
gestion:
"Eighth-Don't permit your cot
ton to be offered for sale at points
on the railroads. The past season
developed an unhealthy, irregular
md illegitimate traffic at those
points, conducted mostly by irres-
ponsible spectators, who seized
every opportunity to fleece the
planter OF the proceeds of his labor.
This is accomplished with such
,hrewdness. as to blind the planter,
and he only realizes that his cotton
classes very low, and loses very
much in weights.
at seems fallacious to expect a
great staple, like cotton, which finds
is highest value the nearer it APP
Droaches the manufactures of Eu-
,ope, TO command a greater price at
small interior villages, than at the
great monied centre, and CONNER
,ial Metropolis of the State, which
las hourly communication by tele-
graph and steam with all parts of
he civilized world. 1t is safe to :
Jay that nine tenths of all the cot
on sold at railroad towns is re-sold
n this market at profit. Whilst I
his is so, it seems folly for the
PLANTER to transfer the profits of his
abor TO spectators.
And thereupon proceeds to de
nolish us in regular scientific style, I
" stating that one-fourth the cotton Z
fought in Navasota is not re-sold ia a
He tacity admits that $
hree-fourths of it is re-sold in this G
market, and docs not deny our as T
ertion that it is "re-sold at a profit,
md that profit must necessarily be {
ut of the pocket Of the producer
In defending cotton spectators
1 railroad towns from the charge
f "heeeing" the producer, he face 8
iously observes that planters can !
vail them selves of the telctraph 10 j