The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1897-11-30
N D ~
8lSDe

markets which affect them all, in or
der to make their profits. Supply
and demar for spot cotton does not
fix the price, but supply and de-
mand for futures establishes the
price. For instance, every spot
buyer simply ask how is the future
market and if the future market is
~ points lower he Immediately low
ers his limit equal to the drop in
futures, and every farmer that mark
cts his cotton simply suffers from the
drop speculators cause. In other
words, spot buyers and mill mon on
ly have to break the future market
in order to buy their spots at what
ever price they care to fix, knowing
absolutely that the average farmer
must sell, ON account of his poverty,
at least a potion of his crop.
Large american and European
spinners never give themselves ono
moments uneasiness about getting
their supplies. In fact, they simply
reason that they will get together, sell
thousands Of bales Of futures, which
will put down the price, and as long
as they continue to sell the lower
the price will be, and when they get
the price barely where the farmer can
exist they then buy their spot cotton,
realizing that over a million bales
per month will bo marketed at abso-
lutely any price they may fix.
Many farmers owe for their sup
plies and fertilizers, and simply must
sell, and the lower the price the
stronger the creditor insists on his
money, because he fears that at the
low price the crop will not be sufli-
oient to pay; whereas, if cotton was
at a good price the creditor would
know ne need not worry about his
money, and would not insist on hay
ing the crop rushed to the market
and forcing q salo.
1t must undoubtedly be very dis
couraging to the farmers that, be-
fore they begin planting, many
wealthy operators are willing to sell
them what they expect to make at a
price at which they can barely exist
There is no other class OF labor,
except the farmer, that has the pro-
duct of his labor traded upon by a
people that neither know nor care
nything about his welfare or pros
perity. Suppose there would be al
lowed an exchange on the labor of
clerks, lawyers or mechanics, where
crowd of uninterested people could
get together and trsle in tho future
labor Of this class of people. One
party would offer to get clerk who
is now receiving $1,000 a year for
5000. Another will offer to fill his
lnlace for $3.50, another $3.50, and so
on, @eSea selling his labor to point
where he can,fs..;relys make ends meet.
This clerk must either accept tho
salary the speculators fix or allow
his family to starve, and the lower
his salary can be kept the less chance
he has to improve his condition in
any manner. Now, it is. just this
way with the farmer. He is allowed
price for his labor which enables
him barely exist; but how is it posi-
bic for him ever to improyep In
case he should receive q legitimate
price for his labor for few years, he
would be IN position to have SON O.
thing to say as regards his future
labor, and would not allow q price
to be fixed by people who know
nothing and care less for his labor.
Will any class of laborers, except the
farmer, allow their labor to be bought
and sold for year in advanced No,
the farmers are considered as being
the, most important class, and these
shrewd operators would not attempt
it on any other class of labor. Yet,
at the same time, in rtining the
farmer, they are running every other
class of labor. Yet, at the same
time, in running the farmer, they are
running every other class of people
with whom the farmer comes IN con
tact. Nearly every class and race of
people must have your cotton, but il
we think that foreign countries, and