The Kosciusko star. (Kosciusko, Miss.) 18??-1898, 1895-03-01
'TTY COTTON is CHEAP.
,..ort OF the senate Investiga.
" ting Committee.
LEGISLATION RECOMMEND.
Ell.
vush Prsductien for the Dsmand.-
~ ~. D.m.netizatisn Of Silvsrssd the
p.,,Icisus ERects Of Dealing In
Futures.

Washington, D. c.. Feb. %. =
nrring the Fifty.second Congress,
Ebs Senate Committee on Agricul
tnr. and Forestry was authorized
~ the Senate to make inquiries
,1on the existing depressioo Of farm
erolusts, and Senators George,
Rate and Proctor were selected as
subcommittee to take in hand the
bo,tion of the inquiry concerning
|he depressed price Of cotton, and
utimony taken was today report.
td,o tn. Senate by Senator George.
70 ascertain the financial condition
\ producers Of cotton the commit.
/. addressed circular containing
injuries to q large number Of plan
srs and merchants in each Of the
o,ton States. The replies demon
trste that with the price prevail.
ng in the year 1891, 1892 and 1893
nearly every part of the cotton.
producing region the cost OF pro-
luction is equaled, if it did not OK.
iced, the value of the cotton raised,
condition that applied even to
he small farmers. who raised their
rops by their own labors. and the
onditions having grown worse in
tead Of better since. The commit
se concludes that while there is no
es,itution, there is little accumu-
alton, aud that energy and enter
rise fail under present adverse
mditions to make that steady and
me progress to which, until now,
be people have been accustomed.
he result has been to produce
ldespread discomfort among cot
n producers, and a disposition to
Ecredlt their conservative meth
sand to induce a too ready ac-
iptauce OF plausible theories tor
Phet.
While the committee concludes
hat the "obvious, apparent and
fOxlmate cause" of these low
vices is overproduction, the report
oes into the matter extensively to
rove that there has been, in the
ase ct cotton, at least, no real
reproduction, but there has not
|eel an increasing demand, equal
Fs the increasing supply
Alter briefly discussing what the
oAmlttee deem the depressing
|nect Of a high tariff policy upon
Fe production Of cotton, the mat
'l FUTURES is taken up, and
sambing'' in prices unreservedly /
a0elhned as contributing to the
R prices The committee, in !
sulhg the right of the Federal
lVernment to legislate on the sui
II, declares the business of "deal- .
Ism futures" in cotton can only
transacted "a in the two exchanges
New York and New Orleans.
tu mat the latter is merely an
|nex to the former.
Inc committee concludes that
\ [s dealings of these exchanges
E.etlefed with the interstate com.
[ssce Ea'', and the power of Congress
|loula !, oe used to abolish them.
~ y lnat vlew," it declares, "it is
h h, manifest ~ interest ofthe country
|.a. Fas all arrangements, customs of
ros ics, ;, which artifcially depress the
1,eol !, . cotton should be abolished.
au.,s ls1s declared in conclusion that
uosi'ngS in futures" generally
[[,a [pless The price to a considerable
d PsVls th and that Congress not only
|, is '"e ;n P power to abolish them, but
ona q III dlty bound to do so.
uae'nalf wbaI of the report is devoted
! "na', rsno.. TO quote the language of
|usa a'Pof'. p" :. we now consider that
6;ob S 'ot The low price of cotton ,
/ 'l% da, we deem the most potent
! ,e,ss' ,ael11onetlzation i of silver is
J 'S.eo S,o mat production is suffer. I
nj, hon m e extreme low prices, the
yba ' VI 'he appreciation of gold.
ars .S' &C. committee say, as there ap, $
30 s,.a. no Immediate prospect for j
great remedy needed to raise a