The Marietta journal. [volume] (Marietta, Ga.) 1866-1909, 1874-10-16
Chr Mlarirtta 5ouraal.I
Marietta, Ga, Friday Oct. 10, 1874
TIE INFLUENCE OF INCORPORATES
ON COTTON.

L
TIE INFLUENCE OF INCORPORATES
m ON COTTON. s {
The cotton producers Of the South
are as much in the hands lof monop,
olists as are the grain producers
of the West. The price Of cotton is
determined upon Wall street and
among the manufactures as much
as the rate of interest upon paper at
call or the rate Of exchange /; and
by the elaborate machinery used in
it's handling class of parasites are
maintained ia conn aratiye idlenese
at the cost of .he producer that eat
up the percentage that oughtatos &c
crue to him as profts upon his sales,
For instance, | wish to buy q cargo
of cotton for shipment---it would be
next to an impossibility for me TO
go to cotton house and make my
purchase direct l would be refer
red to a cot on broker: he would
- /.
buy it for me on commission, and
then | would be directed to freight
broker, who would secure for me its
transportation upon another commits
sion, while a third would get il in
sured on another, making three
commissions that have been forced
to pay, outside the price of the cot
ton, before | haveit on board the
vessel for shipment. asas
These men have regular organizs-
lions called exchanges, and control
the entire trade. Sosvaluableis this
monopoly that it costs from five
hundred to twenty>fye hundred dol
lars to become a member of an ex-
change, and hundreds Of dollars are
often acquired for a few hours work
that comes directly out of the pock>
cts of the producers.
A few days ago the leading cotton
manufacturers held meeting in
New England, in which it was
agreed that the price of their goods
was not sufficient to be remunera-
tive, and they determined to raise
the price Of their manufacturers by
reducing the products Of their mills;
and, consequently. the amount Of
consumption of the, raw material. ~
This movement on their part will
have double. effect; twill, in the
first place, force up the price Of
their goods, and in the second place
be made a cover by the cotton brok
er to bear down the price of the raw
material. In both instances, the
planter being also a consumer, the
burden falls with double force upon
him. rs .s,
Pools are made upon cotton as
frequently as upon gold corners
are often made, and it is always the
aim of the brokers TO bear down the
price Of, the producer and bull the
price to theihonest purchaser, so as
to secure TO themselves a good mar.
Gin Of profit and ii is no rare oc-
currence for cotton TO pass through
The hands Of a dozen men, each
making a commission before. it
reaches the manufacturer, and then
through the hands of his agent, the
wholesale house, the jobber, and then
through the retail trade hack to the
planter, who has all these commiss
sions to pay. ON the portion needed
for home consumption, to say moth
ing ofthe freight both ways. For
these abuses there are two remedies
1.-The first is for The. planters 70, ary5
ganize amoog themselves and either
ship their cotton direct to the Eiro
pean manufacturer, or sell directly
to the manufacturer on this. side I;
but perhaps the best way out of this
difficulty is to build cotton mills in
their own sections and make up
their own products, thereby saving
to themselves notsonly allihere com.
missions, but share Of the freight
and the profits of manufacturing.
The people of the South are.deep-
" Interested in this question, and It
shopld commnad their immediate at
tention and careful consideration. -
The Southern States are well adapt
ed by nature for the prosecution Of
such industries. Extensive water
powers may be had In MANY Ioeali-
ties, and in all those parts traversed
by railroads coal may be had as
cheaply asin New EngDand and If
the peopleiearnesily address them-
selves to the task Of Improvement,
it will be but a short time before
millions will be saved TO them that
now go into the hands Of men who
live upon their energy and labor. -
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