The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-08-20

cotton goods sell for prices that are from
IA to 200 times greater than the price of
the material composing the goods.
This enormous profit of the manufac-
turers is another evidence of the falsity
of the claim of overproduction; II estab-
fishes the fact that there is an undercon-
sumption of cotton products, and verifies
It in this that there are few families, ex-
cept the rich, who would not use more cot
ton goods if their circumstances permitted.
~
The conditions which thus impoverish
the producers of cotton have the effect CT
impairing the value of the most fertile
lands in the world, and preventing the in
dustrial advent OF factories in the South,
an effect more earnestly desired BY the
promoters of market gambling than the
colossal prcn.s OF their annual robberies.
The proposition Becomes more evident
When we consider the origin, actors and
purposes of this powerful and unoridled
trust. 1t originated in England, Germany
and France, where so many of the cotton
mills of the world are located that they
control 95 per cent OF the cotton goods
trade. The centers of wealth and popula-
ton located these mills in Europe, while
nature located the center of cotton produce
tion in our Southern States.
The building of sufficient cotton mills
in the South to manufacture the Southern
crop would virtually close the mills of Eu'
rope and transfer the control of the cotton
goods trade to America, where it justly be-
longs. When this became apparent the
mill men of Europe organized for the pur-
pose of preventing its consummation The
privileges accorded 10 wealth By the repub-
lican party of America assured them of
an omen field for their operations in this
country.
They organized the Liverpool Cotton
association" in land where stalk Of
cotton could never be raised, backed up
by the cotton mill capital of Europe, and
encouraged by the promise of fabulous
profits from their cotton goods trust, they
established their branch office in New
York and called it the New York cotton
exchange" This exchange has member
ship of 500. Its membership can not be in
creased and when diminished by death
q successor is elected, provided the appli-
cant deposits with the exchange an en-
trance fee of $4,000
The New York cotton exchange has,
since its organization, given birth to a
horde of subexchanges and bucket shops
and scattered them over the cotton grow
ing States, while each of the 500 members
of that rayenous syndicate are also mem
bers OF separate firms OF cotton brokers"
who advertise their willingness to make in
veslments in the New York cotton ex
change for outside .'innocents, who are
assured that the time is ripe for specula-
tion.
Every Texas town is supplied with agents
of these exchange cotton brokers', the
cities with cotton brokers'" bucket shops
and dummy exchanges" and all in such
close telegraphic communication with the
mother exchange In New York that the
cotton buyers In the smallest, as well as
the largest markets, will not commence
their days purchases until they receive
their morning Quotations" of prices to
be paid from New York.
The maneuyers OF this extensive organi-
cation are conducted under secret orders
telegraphed in cipher messages and COW
ering the cotton territory like the tentacles
of some giant octopus; they gather In
their victims With mercliess precision and
ayidity; day after day they force the cot
ton market lower and lower by system Of
depressed cultures" that serve also as a
scale that can be used as cotton gambling
basis. and fuctuated at will SO as to win
the largest stakes whether they are
wagered on the rise or fall OF the mar
ket. The method Of forcing cotton down
by the future system is as follows; When
the cotton market opens and spot cotton is
worth, for instance, cents, then the New