The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1890-04-29
A THREAT TO AGRICULTURE
AND TRADE.

The protest of the leading exchanges
of the country against the ButterWorth
bill is based on considerations that
cannot be ignored without serious
detriment to the business interests Of
the country.
No objection is made to that part of
the bill which is aimed against specu-
lation in "options" and bucket shop
dealings. On the contrary, this fea-
ture is a timely and commendable
one.
But contracts for future delivery
are not only Legitimate financial and
commercial transactions but they have
become essential to the business of
the county. AS Mr.. hurry Nelson,
of the Chicago Board of Trade, told
the committee in Washington yester-
day, to legislate against trades for
future delive-y would be to force
out of business small dealers and con
centrate the trade in the hands of large
capitalists able to buy crops and hold
for a rise" Both consumers and pro-
ducers would be at the mercy of these
monopolists.
The present system is a decided
advantage to sellers and buyers. 1t
gives farmers and producers generally
a broader and freer market than they
otherwise would have, and it tends to
prevent disastrous fluctuations in
prices. In short, n speaker declared
yesterday that cit would be impossible
to handle the crops of this country if
the producers and the consumers were
compelled to sell and buy only as the
products we're marketed"
The bill as it stands aims a deadly
blow at the agricultural and trade
interests OF the country. We cannot
believe that either house would pass it
IN its present shape.
The above editorial from the New
York Herald is pretty good. We are
truly glad to know that the farmers
have a real, live champion at last. If
the Herald concludes to. take we ebay.
seed socialists under its great wings
surely We can then breathe more
freely. "No objection is made to that
part of the bill which is aimed against
speculations in options and bucket
shop dealings" No, certainly not.
Even the Herald is willing that they
should go, for that would render it an
easier matter for the big dealers to
fleece the people. FOe Herald has n O
patience with small ~rascals. 1t is the
bulls and bears OF the boards of trade
in Chicago and New York that the
Herald wants let alone.
But it is not the merits of the But
terworth bill that we wish to discuss.
1t may or may not be good. But if
ut will hurt the farmers why is it that
! hey are like Brer Rabbit-"layin'
and say nothin'." 1t is strange
that fGRe leading agricultural papers
throughoN the country are so calm
and serene ?NWho is it that opposes
the bill? The New York Herald and
Mr.. Murry NelsoR of the Chicago
Board of Trade. What is the differ.
ence? Mr.. Nelson is = speculator and
Aourishes by buying futures; the other
is one of the organs of all the great
speculators in the United States. Yet
thew do as others have been doing for
wears, raise the cry that the creation
of this bill into a law will tend to
place the interests of the farTers in
ieopardv. Again we repeat, it is
strange that the farmers allow this
thing to go on. The onlyway it can
be accounted for is that 5he farmers
of our country are so thrifty that they
feel like a little oppression would do
them good. But WHIT is to become
of poor people like tB Herald and the
Wall street bankers.and Mr.. Nelson,
too =? If our natioal Legislators will
just let well enonh alone, then they