The Camden journal. [volume] (Camden, S.C.) 1866-1891, 1871-06-29

must be br0ugnt>out, ana with slscn Standard
bearers there can, be no difficult, in predict
ing the result Forward, all along the line"
:. :. Cotton. 3 H..
Cotton speculators are busily at work fix
[ ing pp the market for the incoming CROP
Already ,wez zhase been informed just how
large the 'crep.is to be, how much will be
productivity the4several States, andthe ave-
rage, price per pound that may be beexpected.
Thisjobbing in perspective is onoof the
features of'Heeding that has been going on
for years. G6tteh shafpers< who have access
to the public Journalist prepare their state
mcnts with skilland care, knowing just how
to work to play upon the credulity of the
unsuspecting is.,,9
When;they desire to make their piles upon
the fall of cotton, they begin by working the
planters up to the belief that an unHsual de-
mand will exist during certain season.
The crop in India has, failed, or: the unex-
pectedt demand for cotton fabricss has SO
drained the market that it will be necessary
to produce much larger crop the next sea-
son than was produced the last. 70 give
some show Of plausbility to these statem6ats
they bull the market late in the season. when
there is, little cotton to sell, and fs( 6ap the
price to high standard, in order snduce
the planters TO plant largely. Tins being
done, the sharpers have secured the end they
sought. A large crop is raised, and the de-,
luded planter finds, when it is too late, that
| he has planted cotton to enrich spectators.
When the time for selling comes, the extra
ordinary demand predicted early in; the sea-
son does not exist. Cotton goes down, down,
down, until it has reached point. where
sharpers will buy, and there it. hangs,so long
as they desire. What is passing strange to
close observer, is the fact, that nfotwith-
ding past experience, planters go right on,
from year to year, planting this one crop,
and losing money the whole time.
The cotton market is not unlike the stock
market, controlled by interested spectators.
The price of the staple is not regulated by
the law of supply and demand, for both Of
these are made fictitious whenever ii suits
spectators to make them so. They Create a
surplus or scarcity whenever, their, interests
are best subserved. The people oftheSouth
should turn their attention to the production
of more than one crop. so that in the event
of failure of any one, they are not9ieft, as
it were, almost destitute. Ifcotton fails for
two years In succession, thousands Of plant
ers all over the South are completely, suined
The failure of single crop often leaves far
mers destitute. -. .,,t ~,
The great desire to make money. fast has
carried many farmer to ruin, while those
content with moderate income have grad
ually gone on from year to year. judiciously
outstanding their resources, cultivating the
soil upon modern. principles, and have been
able at the end Of a few years to secure a
competence for their families.
The cotton gamblers are the worst of all
gamblers, for they not only induce the.plan-
ters to work for the hope of great gain, but
they also prevent them from securing o ,liv-
ing for those dependent upon thomS They
work in hundreds of ways to induce the plan
,ters to plant largely Of cotton. Drummers
from the various mercantile houses of the
North often kill two birds with one stone.-
While out on their business tours, they do
not fail to talk cotton in the country districts
through which they pass They sell their
goods to the merchants, and at the same
time put in word from the cotton jobbers.
and spectators. A few. sentences used in
an of-hand manner by these men in the
country villages, afford food for conversation
and reflection among the people for weeks,
and many planter has been induced to plant.
more largely of cotton from the golden pros
poets held out by these gamblers There is
no doubt at all Of a we'll organized system OF
cotton jobbing. 1t is a risky and hazardous
undertaking to "handle cotton" Men who
formerly dealt in this staple, and who fat
tered themselves that they. knew the outs
and ins of its manipulation, now find them
selves swamped before they are aware of
their danger. 1t is not unlike the coal spec
uiation in all its bearings.
Three. fourths of all the profits of the cot
ton raised in the South finds its way into
pockets of spectators in New York and
other financial centres. s.-Daiy Union.
ORGANIZATION OF A CoLoRED CONFER