Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1877-06-08
INTERNATIONAL COTTON CONVEE-
M TION,

TI0N.
The next annual convention OF
the international Cotton Associa-
ton will be held at Liverpool on the
18th of July. The cotton exchange
of Memphis will be represented
by Mr.. J. I. Fargason as delegate,
and Major I. H. Hartmus as alter
nate. These gentlemen will both
attend, and are now ready to leave
Memphis for New York, whence
they will sail some time next week.
The last convention was held at
London, August 10, 1876. The
various cotton exchanges of this
country we're represented last year
and will be this year, as follows:
From the New Orleans exchange,
two delegates; New York two;
Galveston, Mobile, Savannah,
Charleston and Memphis, one each.
English cotton exchanges and
associations took a liyelyinterest in
the convention last year, but
those Of the continent were
not generally represented. 1t
is hoped that the importance
of an international association is be-
coming better understood in France
and other countries and will be ex-
pressed in a larger attendance at
the coming convention.
The president Of the national
cotton exchange Of America, Mr..
John Phelps, in addressing a com
munication to all foreign organiza-
tons representing the cotton inte-
rest, both in England and on the
continent, under date of Noyem-
Der "A, 1875, said:
Cotton is one Of the leadisg articles Of
trade, and is o Of the prominent feat
nres Of the commerce Of the world. b.
the introduction Of steam aud tele
grsphy. the whole system Of conducting
The business in this staple has been reyo-
lutioDized and changed. These new
agencies, by virtually a%nnihilatiug time
and distance, have brought the various
markets Of the world into such close
proximity, and their relations to one an.
other have become so intimate, that
some general aud uniform rules for thf
government of this trade would seem to
be indispensable. At present the rules
prevailing in foreign markets are, in
many particulars, entirely at variance
with those in force in our domestic mar
ksts This lack of conformity leads to
contention and loss, where good feeling
and fair remuneration should result.
The expansion Of the trade, aud the
new features introduced into it, produced
the same difficulties in this country, but
they have been remedied by the estab
lishment, first, Ct local exchanges, which
established fixed rules for the govern.
msnt of local trade, and, secondly, BY
the formation Of the national exchange,
which has made those local rules TO con
form to certain general principles appa
cable TO ell In foreign markets rules
have necessarily been adopted for the
government of the new features intro.
duced, but they are Of a local character
only. What is row needed is a general
harmonizipg Of the leading features OF
the regulations Of the trade in this couu.
try with those Of foreign countries. This
necessity is making itself felt with in.
creased force from year 10 year, aud
must so continue until the proper rem.
edy shall have been applied.
. . 6
/ would especially call your attention
to the great benefits that could at once
be derived from the adoption Of a uni
form STANDARD Of classification. This i.
60 self evident q proposition that | dc
not deem Il necessary 10 do more theI
call attention to it, and TO refer to tht
fact that 10 the sugar trade what ar.
known as the Dutch standards" havI
been in universal use for many year;
and have kept that trade free from tn
abuses and contentious complained of il
the cotton trade.
Since Memphis has become tn
third cotton market of the oountr.
and the first of interior cities, ant
buyers come here every season from
Liverpool, Manchester, Havre, an,
other places, representing leadin.
English, French, Greek and Egyr
tian firms, the Importance of tn
above suggestions become appareu
to every one engaged in the cotto
business. The action of the Ne
tional cotton exchange Of Americ
last year will suggest a line Of az
ton to American delegates to th
Liverpool convention upon th
main questions to be considered
The Memphis cotton exchang
will be represented by gentle
men Of ability and experienc,
and while only one can vote G
serve upon committed, both wi