The people's journal. (Pickens, S.C.) 1891-1903, 1901-10-24
THE 10Th CENTURY TRUST
A Scheme for Fighting the Cotton
Combination With q Producers
Combine.

Combine:
&. i. Washburn, president Of the
Commonwealth Club, of Mass, has
returned from Europe. He has been
abroad since last July on an interest
ing mission. He proposes to fight the
cotton trust with a &50,OO0,O 900 CO.
operative trust. lie said
/ was commissioned to 60 abroad
aud visit Rocbda'c, England also Bel
gum and other cooperative ccntcrs,
and investigate their cooperative meth.
ods, with view 10 applying to our CO.
operative plan whatever features might
be OF value to it. In Switzerland also
met our foreign representative, who
has been abroad nearly year, making
4 special study of this matter.
"Cur plan contemplates the organi-
zatlon OF the first goth century CO.
operative trust with capital of $5O,-
600 900. Our banking and commercial
headquarters, our executive depart
mcnts and on" whole supply houses
will be in ST. Louis, while our ware
houses and shipping centre Tor cotton
will be at Memphis, Tenn.
My associates are determined that
this cooperative trust shall be suilici.
emily powerful financially ana numcri.
cally to protect the cotton growers Of
the South aud absolutely control that
market in the interest of higher prices
for cotton. IL Is not intended as Il
phllanthrupic or reform movement, but
rather rs Il plain business scheme to
meet the existing cotton trust on It's
own ground. The idea was not sud-
den impulse, but was born of dire ne
ccssily IN sclf-delensc and has been
long considered.
Unlike organized labor, the cotton
growers are men OF means, and united
can easily control The cotton market
OF the country, in fact, they raise so
large Il proportion OF the cotton crop
Of the world that when once thew act
in concert they can hold their crop FOR
higher prices and practically control
the cotton market Of the world and
thereby restore living prices for ,hc
producer,
AS soon as my business interests
III Boston will permit, | shall visit the
cotton producing States of the Sou III
and consult with the leaders Of this
great movement, as well as with the
leading cotton growers association in
each State, SO that their special local
needs shall no. be overlooked. We
have no announcements to make, no
stock TO sell, no promises TO redeem.
| we arc more anxious TO move slowly
and mature our cooperative plan.
| While we recognize the fundancn,
| tai cooperative princlples applied in
the past, we have been unable, because
| of the peculiar character OF this enter.
prise, Gin that it is great distributing
system, to utilize many of the cstnb-
lishcd prcccdcnts. On the contrary,
we are entering a but slightly explored
realm, and must ourselves establish
prcccdcnts for the future. Therefore,
il bchOovcs us TO move in Il specially
cautious manner in order that our per
fectcd plan may be thoroughly safe,
sound and conservatives.
" If this system succeeds, ii will be
followed by cooperative wheat and
corn trusts in the West and conform
ing to the spirit Of the new century,
will inauguratc new business system
'haI VIII DiihS hEip anu Sooti 'nNtl "
| thousands Of producers who now feel
that they alc the victims Of the money
| sharks and Of the trusts.
"The plan has already aroused wide,
spread interest on both SIDES of the
Atlantic and each new development is
( awaited with eager interest by thou
sands of persons WHO believe we arc
on the right track. The steel strik,
only emphasizes the utter helplcssncs'
Of labor and the end of cooperation
The only way to beat a trust Is to or
ganize a bigger and better one in tho
interest of the producer. Capital anG
cooperation arc the t%o mighty agcn,
cics through which this can be done.
" America is allcady years ahead OF
any Of the six nations | visited, in in
vcntivc genius, commercial enterprise