Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1897-12-08

tion Plain In Few Words.
Editor of the Yorkville Enquirer:
Is it not self-evident fact that if the
Southern Cotton Planters Union can
control the marketing (not necessari.
ly the actual cotton) of the visible
supply, or an amount equal to the
visible supply, that an operator can
not possibly sell any cotton short and
deliver it
Is not the visible supply of cotton,
over six months of the year, under
two and one-quarter million bales, and
often around one million bales and
if Union could control one-quarter of
nine million bale crop-which is
two and one-quarter million bales
could, for six months, cotton be used,
or sold short, and be delivered without
the aid of the Union?
Is it not a fact that with less than
stock of one hundred thousand bales
in New York, over one hundred thou
sand bales of futures per day are sold
on an average, and with the Union
controlling the visible supply, would
it be two days till this stock would be
be taken, and could an operator sell
any more and deliver? Knowing OF
this stock on hand for their purposes,
did not operators depress the price in
two months about $40 per bale, aided
by the knowledge also, that on account
of your poverty, many would sell at
any price they cared to fix as soon as
gathered ? Could they have done so
had there heen an organization ?
When your mills had oversold, or
rather had not bought, did they not
bring cotton at 81 cents from New
York to their mills; and did not the
southern farmer, two months later,
sell the same grade of cotton, and in
the same locality, at cents; profit
to the operator of $3.50 for the simple
use of his cotton for two months ?
Would it not be impossible for north
ern mills to compete with southern
mills that have the same machinery,
no freight to pay on cotton, half-priced
labor and longer hours, were it not for
their shrewdness in getting their sup
ply so much cheaper by manipulating
the market? ?
Could an organized company, with
every advantage, receive less than the
market price for cotton or could an
individual producer with no advanta-
ges receive more? Could farmer in
allowing a Union market one-fourth of
his cotton, possibly lose anything and
is it not likely if professional operators
did not know how much more than a
fourth the Union might handle, that
he would, of necessity, get very much
more for the three-fourths he should
market i?
When in one year there has been
5O,OO0,OOO bales of futures traded in
New York, and receipts only 1O7 900
bales, and actual spot sales only 193,-
900, futures must, of necessity, fix
the price, and by an organization you
can control the visible supply, do you
not absolutely eliminate this depression
of prices?
Is is not known by all sections and
countries that the southern farmers
notes and obligations fall due practi-
cally when cotton is gathered and is
| it not natural that other sections and
countries, knowing this and having
you in their power, would hold you
there as long as YOU would submit?
Is not the farmer the only class of
unorganized labor, and the only class
of people absolutely powerless, that
have their labor traded upon and the
price fixed in advance by speculation ?
All classes are affected. Are you all
satisfied? Your respectfully,
JOHN T. RoDDEY.
New York, December 2, 1897.