The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1903-10-12
More About Brown.

hpc6Ully ne lOuStilutlo-- SPoIAC "
Brown, OF New Orleans, as worthy tt
be remembered by the cotton raiser:
! OF TIE south when Thanksgiving day
rolls around.
The Columbia Is. CD State thinks
differently 1t 1iouts the suggestion o.
beueiicent Brown and reads on ms
escutcheon only the sign OF Taurus
rampant. Even so, the reading IS sig
nificant. for the BAH is the zodiac slgl
that affects the human mechanic
/ Brown surely did land heavy on tht
i necEs OF the fellows whose business
/ for immemorial years has Deen to spoil
ate the poor cotton cultivators OF the
southt And that is why we were
moved to exclaim Bully for Brown!
But The State does say something
pertinent that we may well examine
/ for the larger edifcauon OF our read
| ers. 1t is this:
The CONSTITUTIONS position is that the
! present price of cotton is tictitious-torcec
i IN, by BroWn-when as a matter OF faci
/ With an exhausted supply at the opening
/ Of The season, with great destruction n
! Texas and with a government report
+ showing the condition of the crop to be
/ 65 the prices should not De peloW ~
! cents.
Rather has The Constitution insisted
/ that the present ana recent prices OF
cotton represent more nearly the
! actual value OF the staple We do not
believe that the price cotton has
usually brought in the fall is fairly
RACED for the raiser, whether there are
boil weeyiis il Texas or a government
estimat> OF So per cent Of full aver
age crop. We insist now. as we have
always done that the common prices
made for cotton Wblle in the farmers
hands have been for two decades past
the fictitious prices, but they We're tic
titi0usly low prices They did not
represent / fair payment Tor he IN
yastment Of the FARMER and seldom
allowed him more than & mea8er mar
gin OF profit Our view is candid that
tEa work Of Brown, instead Of making
cotton prices fctitiously high, only
resulted III bringing them up to rea.
s0nably fair level Had he not entered
the exchange those prices would nave
gone down as in the past to dctitiously
tow figures.
Brown simply followed the opera
tons I'll Price, and then Of Sully $
crowd. begun early in the year, after
mill stocks and export demands We're
uJlv calculated He saw that the de
mana Tor cotton would be greater than
the available supply lie bought Tor
future delivery and his opponents sold
with the notion that they could lind
- 1s ha Brown
crowd nj lie roundup And they lost
out. The $S.00Q000 The Brownies made
were taken from the oyer1at OF the
bears. that's all.
Brown. then. came into The game be
cause he knew that cotton has had no
ehance for years to bring its real
value ii marketing time. Whenever
the cotton harvest begins the bears
GENERATING for the difference between
the nrice for which they can bug and
.hat which The afteI-harvest cotton
positions will enable them to- demand
O. consumers of the raw cotton, unIt1
To depress the price OF The crop aIl
aX3ng fhe line. rhe cotton producer IS
HELPLESS as against tJljs consolidated
brokers corner. annually worked on
him. ana has heretofore had 10 take
the market prices fixed by them.
Browns corner was engineered from
The producers side OF the fence. Il
Vas 10 his personal interest 70 put The
price up ard taaf reaounded immense
" to the cotton raiser who sold ahead
ior future delivery and has nelted tAe
farmers 0f the south many millions 81
loaars more than otherwise would
nave Iancn 70 their side OF the sea
sons account
IS for spot cotton il evened up with
futures in New YORK. II fell II Sayan-
nah and elsewhere fer The simple rea-
son Thar it was not On the spot at the
point Of contract delivery when
needed.
Therefore We still hold that Brown
fought with the farmers and hence
those tears and curses in the bear pit.