Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1872-07-04
COTTON uFUTURES.o

The plan of selling cotton tor delivery at
a future period. at stipulated price, has re-
ceived but little attention from the planters,
but has as a general thing been confined to
spectators and middlemen, who in order to
realize heavily upon such contracts, have,
year after year, combined against the produ-
GERS, fighting the staple down to such prices
as entailed loss upon those obliged to sell,
until they obtained control Of enough to sat-
sfy their obligations and leave them hand.
some margin for profit. Now this custom of
making sales for future delivery" prevails in
every line of trade-the dealers in grain. pork,
sugar, tobacco, wool, &C., all buy and sell flu
lures, but no other agriculturalist rests his
claim to remuneration for years arduous
toll, so confdingly in the hands Of the "mid-
dlemen," as the cotton farmer. While he is
toiling to make crop, and looking forward
hopefully to obtain, say fifteen cents a pound
for his cotton, yet without the ability to with.
hold it from sale though the market price
may be nine cents when it is ginned and pack
ed, the middlemen 60 forward and sell the an
ticipated product of his labor for fifteen cents,
as futures" to spinners and spectators, and
then unite in ring to compel the producer
to sacrifice his crop at such figures as will as
sure them handsome gains If our farmers
are determined upon devoting their energies
to the production of cotton, then they, should
at once adopt the plan of selling for future
delivery-as soon as fair stand is obtained
the planter should endeavor to contract for
the delivery of his entire crop by a certain
time, as will give him fair profit when this
is done he can return to his field and labor
with the consciousness that he has only to con.
tend with the enemies that nature places in
his path, but is safe against the wiles of the
speculators and cotton sharks. Now and then
it may happen that cotton will advance far
beyond the price at which he has contracted
to deliveriHs crop, but in that event he will
have the satisfaction of knowing that he had
sold at fair figures and good profit, while if
the cotton market opens badly, he will know
that he is safe and will make money, while his
less provident neighbors are forced to sell at
sacrifice. Weare we'll aware that the gam
bling instincts of our people will prompt
them to reject this policy in many instances,
and to take the chances of being forced to sell
at eight cents rather than forego the possibili-
ty of getting twenty-five, yet the planter who
will persistently sell futures at fifteen cents
for his whole crop will be likely to make for
tune, while his gambling neighbor will, ere
many years, surrender his farm to his credi'
tors. Sell your cotton to good and solvent
men if you can, as futures, and thus farm up.
on a safe and independent basis. But few OF
you ever farm without lien of some kind or
other upon the growing crop, and if it is en-
numbered by any kind of a lien, will it not be
better to have such one as guarantees you a
fair price for it, than the ordinary deed which
will permit the creditor to sacrifice thunder the
auctioneer's hammer ?-Aberdeen Examiner.