The Greenville times., 1894-11-24
fHnLsrI-erfIos CONVENTION.

IL AaIA-@E AAss w A%AA@as
II was the privilege OF the editor Of
the TnzEs TO attend The above eonyen-
tlon on the 10th inst. st Vlcksburg
II was : complete success in the mum
Der and character Of delegates, and IN
the spirit and line Of its proceedings
Capt. cowsn, OF vleksburg, called the
meeting to order, Jno. Willis, Esq, oi
6harksy, being chosen as temporary
chairman. Permanent organization
was effected by the election Of Hos.
d. W. Pipes, OF Clinton, La. to the
Chair,-B. w. Griffith, Esq, of Vicks-
burg, Secretary.
We are decidedly skeptieal IS 10 the
policy of the class Of legislation, under
which prohib'tive measure on future
gambling would come. Aud of ths
efficacy Of the same II enacted, in ef-
fecting the relief designed. But
there Is no question that the planters
and merchants generally favor, II they
do not possess clear faith III, the law
proposed. On this account. and IS the
amended Hatch Bill, we understand,
makes ample exception In favor of
future sales based upon a bona iide
contemplation for actual delivery
which was the main practical objection
70 the original bills-we join in sup
port Of the object OF the convention.
A letter was read from Senator
George expressing the utmost approv-
q Of legislation 10 abolish future gam
bling. but propouncing the pending
(Hstch) bill unconstitutional; saying
that he would on this account oppose
tho same, II not properly amended.
In very clear and concise exposition
Of the bill Mr.. Cstchings, who is a
lawyer of recognized sagscity and
soundness, pointed out constitutional
curatives which be thought would re.
move Senator Georges scruples. But
In this comparatively untrodden path
Of federal legislation, tho chief obstacle
In the way Of securing a law Is the
question OF constitutionalIty. This
. sure to rise on any measure. On
this point Senator George, the
foremost crusader against future deal
ng, has fixed convictions which 20 to
ne principles of the measure to be
levised against the evil. But when
hey were offered in the Senate they
'eceivcd scant acceptance A letter
Eas also read from Gov. Stone, who
vas prevented by illness from attend.
nc, heartily endorsing the bill, and
hedging any support in bis power to
be same.
Other gentlemen, including Senator
AeLsurin, Congressman Spencer, Ex.
Congressman Hooker addressed the
onvention. Washington county was
epresented by Messrs c. T. Worth.
agton, NJ. +. johnson, Jake Wilczin-
X, W. W. and Alfred Stone. The
blowing resolutions were offered by
hartman J.McC. Martin, of Claiborne
'ounty, and adopted by the Convcn. !
on:
resolved, That It Is the judgment Of
,is convention, composed of planters. 1
'erchants, cotton buyers, bankers /
nd representatives of ali business /
rofesslons and vocations, that the
'ecies OF gambling known a. dealing '
futures, exercises the most hurtful 4
"a baneful effect upon the prices oil .
'tton, grain aud other commodities
nDraced In the so-called contracts q
rough which such dealing is con.
lcted. The law Of supply and de-
and, which we fully recognize, has
ng since ceased to be the chief fac.
: In fixing and regulating prices. AL
rge part OF the business Of the ex.
anges In such cities as New York. D
sw Orleans and Chicago has come, q
result of the rapid growth of this !,
rn OF gambling, to be the making I
iuture contracts, which are not in o
nded TO be executed by the delivery ii
sne commodities named In them W
70 commodities themselves often RS -,
Nh without purchasers, Cutting and - !.
pressing the market, while at the n
ne time, through the fictitious con. al
'cts, they are nominally bought aud or
q In unlimited and impossible tb
a reference to the fictitious deal :"
2 10 . single exchange will suffice p'
their extent. For many d.
IRE the New York Cotton Exchange nc
done little except TO bet on the
&c Oh cotton; at this exchange, in a.
gle month, the sales (bets) Of ficti. n r,
10 cotton have reached the total of ~
. average crop Of the United States, Al, Az
700 bales, and in one year over ~,
Wo,0OO bales, while the sale of ac- 70,
cotton during the same year at HI,
n |