Missouri Valley times. [volume] (Missouri Valley, Iowa) 1874-1931, 1903-08-27
WILSON
ON COTTON CORNER
Declare. the Men Who Worked
1t Are the Worst Of
Gamblers.
WON'T HELP PRODUCERS
People Who Raise Corn Will Get No
Benefits, While Spectators Will
Squeeze Millions Out Of the
Consumers.
WON'T HELP PRODUCERS

Washington, Aug. ~. - oecfetaiy
Wilson is engaged In an effort to ex-
pose the cotton speculatorg. He gave
out an interview the other day In
which he alleged that the extraordinary
high price of cotton was due 70 the
manipulation of gamblers and iol-4
lowed this statement with the asser-'
ton that the radical advance due to
Speculation was the worst possible
thing that could happen to the cotton
raisers of the country.
Ex-senator Butler has taken issue
with secretary and caused an inter-
view to be printed this lnorfAng IN
which he declares that Brown and
Hayne, who have forced the price OF
cotton to it's present dazzling height,
are public benefactors and have done
more for the farmers of the country In
one season than the agricultural de-
partment has in decade. THIS AFTER
noon Secretary Wilson returns 10 Tue
fight with second statement.
"GentIemen," Not Gamblers.
Ex-senator Butter in discussing the
original statement made by Secretary
Wi son said: The gentlemen to whom
lie referred as gamblers, Messrs. Brown
and Hayne. are not only among the
most reputable business men In the
country. but are gentlemen of the high
est character. one of them, Mr.. Hayne,
is from my own state, and i think he
will stand fair comparison, as Will MIR.
Brown from Mississippi. With Secretary
Wilson or anybody in official business
life. 1 must say | was surprised at what
appeared To me to be a very reckless
charge, Gre which was not justified by
the facts. The fact is that Messrs.
Brown and Hayne have done more for
the producers of the cotton, the farm
ers, in few months than the depart
mcnt of agriculture has done in ten
years. i was somewhat surprised at
Secretary Wilson, for he did not appear
nto get into frenzy of indignation
when certain other gentlemen In the
west were making corner on Wneal
and corn, which enhanced the value of
these two commodities, and from which
the farmers got the benefit The sec
rotary seems to be particularly con-
cerned about the operators and the
cotton mills: that the cotton mills have
had to shut down and put out of en-
Payment a large number of employees
and that therefore 1t is a great wrong
upon the cotton mills. Now, In regard
to that Messrs. Brown and Hayne SIM
ply bought the cotton from the bears
in the cotton market and required them
TO denver lHe COllOIl, anu VI SOuA &c SAAS
prices went up. AS a rule the man
ayers of the cotton mills all over the
country We're bears and sympathize
with the bear operators. Very natural
ly, their interest is to lower the prices
Of the raw material and they needed the
representations made by the bear OPP
orators, aggregated the last crop OF
cotton and failed to provide themselves
with the raw material to keep their
mills going. That is all there is IN
that"
Wilson'S Reply.
Secretary Wilson read the Butler in
terview early this morning. BY noon
he had thoroughly digested 1t, and this
afternoon he said:
II have read ex-senator Buffers
criticism on my interview regarding
the corner in cotton and it's effects.
upon the country generally and the
cotton growing and manufacturing In
dustries particularly.
" Ihope the business men of whom
he speaks, will see to 1t that these
prices continue until the cotton grow
err sells the coming crop. If that should
Carolina, find General Butler, If he
should be there, take off my hat to him
and say that l regard him as great
public benefactor who has been able
to see further into the future than we
poor fellows of the department of agrt-
culture, but if, on the other hand, it
should occur that the price of cotton
is dropped when the farmer gets ready
to market his new crop. Gown to
cents, or i, instead of is or 10, then of
course 1 shall still adhere to my opin-
ion that the manipulation of the pres
ent corner by the gamblers of whom
speak is doing Infinite mischief.