The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1893-09-12
ARP ON FUTURES. .
HEDOES NOT AGREE WITH UISH0f
KEENER IN EVERY EARTHQUAKE.
Dealing in Futures is Gambling but He Does
Not Think it Affects the People to the
Degree the bishop Asserts 1t Does.

Let us tote fair with the figures. Bishop
Keener says in The Nashville ChilStlah
Advocate that the mercantile Woflu III
the south is now controlled by the Wholc-
sale gambling and massive frauds OF cotton
futures that the c"nterS OF New 1oth,
Liverpool and New Orleans have yleidco 70
this colossal scheme OF hazard untll the
production of the staple has no ehect upon
Its market value.
Iic says that during the past three
months there have been sold III New 1orM
and elsewhere 5GUOO,OUU bales OF cotton;
This would be 224UUO,OOO bales tor the
years crop. All OF this, he says, Is pure
~ aginary value except the S,oOo,'Uo
bales that were raised and this ldeal COT
ton that was not made would wed $!,o1V'
UOU,OOO, and this is the figuring against
which the planter has TO make heau"a!
All the. gambling dens in tins country ; ant
in the Baden-Badens of Europe are chiid
play compared with this huge monster that
envelopes in its coils the fortunes ana even
the lives Of myrladS.
Gambling in futures in a sin. Bettlng
ON ANYTHING is "A sin, for it is a mode OF
getting something for nothing. 1t is de-
InoraIizing in the extreme and results IN
ruin to thousands sof those who engage III
it, but cannot see how dealing in futures
affects the price of cotton, for IN It's ahaiy-
down. There were no 56,0o0,0Vo bales ,i
bought or sold, neither real nor IDEAL. Inc nc;
Spectator says to the bucket shop. "lll
bet You that cotton will go up within thir-
ty days and | viii put up ma harg H,lc %.
shop. put up 5000 and l'ii take tine pei o.:.6o
Cotton drops instead of rising and the %oOO
goes I'D the spout and the SPECTATOR Is IL
sadder but not Il wiser man. AlGther spec
ulator bet the other way, perhaps, , Milu
won. ard of course he tries 1t again Inc
shop will bet either way, ana IKE the dealer
in a faro bank, always comes out ahciiu
in the end The shop has no lntereSf 10
bull or bear the cotton. The shop KNOWS
its consumers and the average u1 all 'he
bets, and can hedge to suit 1t. ;.
Now that is HE way 4 understand H.
If is no getting lp rHrlrr on Gol'oh.
1t is simply backing y llltn ild:lnGnl
with his money. That 5000 was the stake;
and while it represented -ou Dalf9' IL M M';o
rolulAon Would w.duce the bishop $ fSuTes
from 5G.0OO.U0O bales to ;'.ioO.U)O "les
as the amount lost or won in three mon'hS;
What ii has, to do with hXlng the price
cannot see Liverpool still likes the price
ard has the India crop i help hA 1t ana
il seems to be UnlT)rn y fXed eNc'J W.
in nronorti0n. 1t is the farmers really VINO
fix the price when they Tx me = ~ "
the crop England-Amerlca agents sun eA-
anime carefully and cautiously lhto 'ho c,Up
condition of every county in me S'u u
England knows The cond.tiG ana cA'9l,
of the crop in Barlow county better touay
than any farmer IN II, for she IL rs 'ot
RELY upon one source of Information ou' "li
several There is EOt nEy~f or Ir,'I'.
in Georgia who does not rely upon INC lust
reports sent him from some Sftat 1, T.
in New. York that is connected with Eng
iish ar New England mills. / cannot see
where the bucket shops come IN or now 'nes
can influence the price, Mllllohalrrs
ike Ike the lnmans put large moneys
IN Money eo'' for it is their business: ana
they understand it, but they run no bucket
shops, nor do they make colossal l9rlu i'''
by specul atlon. Ihey pach iait ~ H"I, tha;r
with their money and are able to nola tllelr
purchases until there is proft. l Teiheili-
her a Charleston coffee merchant d! tne
name of Samuel Farrar who lnaue III Inlits
wears a million dollars by dealing III co coz
He had q large map i'll his private ONCE
and If was checked off in years and months
and DAYS. and the price OF coffee Tor every
day was marked. and a green me lnarkeu
the ups and downs, the rise and tal ana II
was a very crooked line. Then there was
and showed the average prce LOT the seh i'
Rrozil was the market where ne bouSh l.
If The crop was short he made allowances
for # and raised the red line according to
his best judgment and his most reliable m
formation. Il buy said he, when the
nrcn is below that line. | sell when it is
Shove -" Just so it is with shrewd men
! believe there is too much odium hcaped
upop rich men, too much malignant abuse
Of money kings and mllionalres: reckon
we would all get rich if we could-eVen the
nreachers 1t grieves me to near some OF
these politicians trying to array the poor
against the rich and to stir up strife and
bitterness among the people. IL ana NOT
usa to be that way. Men who prospered
were respected in my young dayS-re-
spected by everybody. Riches were not not
considered sin The scriptures speak
approvingly of Abraham and JOB an1 Sol,
ONION and tell us of their great wealth, and
how the Lord blessed them; l believe eve una mJ
there are good men now who are rich ana
they do good with their money: IL the!
did not | don't know what would become
of the poor and suffering when pestilence
or famine or storms atflict them.
But there seems to be feeling OF unreS;
and bitterness among certain classes all
over the country. Somebody is making the
working people believe that they are I'M
posed upon by the rich and by the govern
ment. 1 see in Rome paper that TN, they
have organized in Chulis district, III Floyd
county, "a bread brigade and have 4O'J
members and they have signs and grips ana
passwords, and have sworn that they will
have 10 cents Il pound for their cotton,
debt or no debt, and they will hold 1t at
the muzzle of Il Winchester" Surely that
can't be 80. Is it possible that the spirit
of anarchy and communism is taking hold
of our people? Bread brigade. Why,
there is not a farmer in Floyd county who
is suffering for bread. There is none i'll
this county. Corn is abundant everywhere.
1t used to roll in here from the west by
the carload, but it don't come now. There
are hundreds of farmers in Barlow who
will have corn and fodder and meat to sell.
Our farmers are better off today than any
other class in the community. They come
and go when they please. They have
health and strength and good water and are
never visited by storms or pestilence, such
as have lately come upon our seacoast.
They have cattle and hogs and
chickens and eggs and garden sass
and the schoolhouse and the church are
not far away-what pity they cannot for
a little while look i'll upon the poor of Eu
rope and have their hearts touched with
gratitude that they live in this blessed
land. Labor is too hard upon capitalized
threatenng-too eXacting. These may
seem strange words for me to use, but they
are true. l am us hostile to monOpolie:
and trusts and combines as anybody, but
when | read of these great strikes in q
time like this, it shocks my sympathy
What are these organizations anyhow, but
monopoles. The watchword of most OF
them is IF you don't pay so much. we viii
quit and when we quit nobody else shall
take our places. That Gid not use to bt
the law and how it comes to be the law