New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-06-14
SELECTIONS FROM THE MAIL
FARMERS VIEW OF DEALERS VIEWS.

FARMERS VIEW OF 4 DEALERS VIEWS.
TO the Editor Of The Tribune.
Sir have read the letter OF Mr.. Dlo>S in your
paper OF May 49, in reply to mine Of April 30 rs nc
mas not answered the proposition, ! made | viii state
them again First when dealing in futures are not
intended TO represent produce owned and to be
actually delivered but merely the difference in price
IL Is not a legitimate business transaction. but simply
gdhDHhg bets; second. that this gambling class OF
dcalhS IN futures dcprcsscs the price of farm
produce While in The hands Of the farmers and is in
furious to them third, that 10 per cent Of the bust
ness done IN futures" belongs 10 the gambling class.
II my percentage in the third proposition Is too high.
or the statement in the first and second one incor
rect VIII he please produce fact, and statistics to
correct them. Secretary Rusk rightly describes the
chcct Of dealing in futures" when he says: THE
speculative combinations which result in unduly
raising or depressing price, carefully calculated ~
raise them when the goods longer in the pro
ducerS hands, and TO dcprcss them when they are
Why not deal in cotton. wheat. corn and provisions
III the same way as WOOL rye, barley, buckwhcat pc
bit"es, butter and cheese are dealt in! Mr.. Bloss
says "W When one reflects that the Creator has cs-
tabShcd an order Of things whereby larger life feeds
smaller, it is hardly be presumed that human
legislation can improve upon the Divine accept his
construction Of the Divine order Of things APP
pied 10 wild beasts, but the Divine law that ap-
plies to man reads Therefore all thing, whatsoever
to them: for this is the law and IN, prophets 1t
would be presumption for human LEGISLATION to at
tempt Ia improve upor the Divine II may be
easy for those who deal in future get these two
laws little mixed, because l understand they call
each other bulls and bears Mr.. Bios, may refer
Ia the Of Jonah to support hi, Interpretation Of
the " Divine law" but | claim that that was an act
OF special legislation and not a statute b. be OBJ
served throughout all generations forever II that
special act. which worked admirably In Jonlhs
case. could be extended 10 al those who deal IN
d" futures think that after they had had the cx-
perlcncc that Jonah had they would be willing to give
up the gambling part of their business and then there
would be no need for Congress TO pas, Mr. Butter
worth's bill. ] am we'll that supply and de
mand are no Insignificant factors in governing prices
and agree with him that speculation as rule. is
hopeful We should draw the Ilnc between a'ccti-
mate bushes, speculation. which is right and helpful
and a gambling speculation which IS wrong and hurt
iu A. Mr. Bloss at the close Of hi, letter. refers 10
the millcnnal age Of the future. when he thinks there
VIII be 10 dealings in futures allowed. will take
"a look backward" to the time when dealing In
futures first in'roduced Thl, Kind If dealing
can boast great antiquity. Even Chicago cannot
claim the honor Of first Introducing b. II many
year, aro. There Wa, beautiful town inhabited by
inmer-. Their live were industrious. peaceful and
cultivation. No thorn, To hc,ratc the hands. 30
th-N's 70 prick the feet were growing there. one
DAY stranger looking after customers visited the
place There were mo- saloons or hea iiocn>ed hot'l-
There. The reader viii readily perceive that this
place was not suburb OF Chicago. -" hc put up AT q
ln-houSc. lie We soon able ~ comprehend the
condition 81 thing" and then went for hu-lue~-.
Asked them II they did not think farming very hard
r..L. would they not Ike 10 Etv" II the bow,
u some other hu~inc-- where tr profit woull
he elcater aud Oh" labor less. ~uc,"-tf that bu--
u"-- called dealing 100 future u farm produce
.F Profitable IN fact, u tAn .Uli philosophers
-'" mat would trtumut" dli The l.--r metals into
..ii Even moro. % "a- the genuine I'll sir o.; lie. a
Nh" engaged 30 10 shall not surely to.' - gain
al uo-e blessing, they finally consented TO take q
flyer DID future, for Just This oucc~ Th. farm suducc
tcv chose 10 deal IN wa not cotton, corn. wheat or
pork. brit apples ia" market Went hac. ou Adam.
the supply WAS greater utu the demand. and there
va, such large stock OF apples thrown upon hi-
hand, thnt ono stuck u DTS throat. And every ulle
desc cuddut of Dol, for Oh" la-t 5000 year, ha. Il.
i"rt"f from their lllu-trou- procr.ftpr Adams
apple I'm his throat. Whom Adam booked around i.r
'Hc broker be had packed mp aud ieff. Eu'nor -,t-
Dc started for Chicago foo fri thor. ralf ..r..
90 the boys call old Hutch" 10 teach him tr -,eu,.
OF dealing 10 future Tho penll'lr- that Nfam n
Curved bv violating the DIVINE l.w were far NOR.
severe than contained lu VI. buttorvofth'- bin.
And n would seem that Boz consideration ~ The ft.
-aNory reputation II the broker who iuvciEcd Adam
and the ucalculablc los he sustained should dc.rg
Dol, Of the pre- ent day from engaging in Il hi-
ness thrt proved 20 di,a.trOu. 10 their llu-trou,
ancestor JOHN ". OF iNPIIN
Mlibrook, y. s.. June 3. 100.