The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1904-10-12
M0aRIsON CE GAMBLING.
Scores Cotton Future Gambling and
Says 1t Is Bad as Crap Shooting.

We are Informed that the oratorlcal
hit Of the Cotton Planters Conven-
ton recently held al ST. Louis was
made by Col. S. f. B. Morse. Col.
Morse spoke at some length OF the
evil effects OF speculation in cotton
futures, holding that for the most
part it was gambling, and that the
men who are responsible for it and
participate in it are actuated by the
silly superstitions which so largely
control other gameSters. l regard,
sad Col. Morse, cotton speculation
or any form Of speculation where
nan buys what he does not want or
sells what he does net intend 70 de-
liver as gambling, pure aud simple. l
realize ard admit that the Cotton
Exchange has its province. There
must be such places as this where the
worlds business may be transacted on
a broad scale and in an expeditions
manner. But tco often the legiti
mate buying and selling is over
shadowed by the speculation craze.
Ha.e we have great commodity,
more important to the world than
any ether staple product, and what
fixes the price when speculation is &C,
tive? Is it supply AID demand? is
it the amount of COTTON on hand and
the requirements of the mills? Is it
tie need of the world for cotton
gcccs?: No, I will tell you few in
fluences more powerful than these,
more powerful than killing frost or
wet season or the dreaded insect pests,
from boil worm to boil weeTil." Col.
Morse then proceeds to give in detail
the supcrstivions which control the
operations OF some Of the prominent
members of the Cotton Exchanges OF
TIE country. The gist Of his conten-
ton is that speculate il cotton is
gambling and that the men who en-
gage in it are gamblers as essentially
as are those people who bet their
money On a horse race or on the turn
Of card. In commenting on what
Col. M9rse says above The News and
! Courier says that this is true OF
speculatorS in cotton as we'll as OF
dealers in all other kinds Of futures
cannot be denied successfully. The
magnitude and the so-cal!ed legiti-
macy Of their business has until no"
saved them from the reproach which
attaches to the crapshooter and the
faro dealer, but it cannot be doubtec
that there will sooner or later come a
.ine when the public will have 10 be
protected against them just as TIE
pu1lic is now protected against other
men, who live by their wits, rather
than by work tt most anomal
ous thing that the society which con-
s!dsrs itself injured and offended by a
game OF crap, played for pennies up q
blind alley by bontblackS, applaudS
the operati nS Of business men whc
manipulate the prices Of commodities
reckc ned necesSarieS Of life by betting
their money On One side OF the Other
OF what the market will be tomorrow
or next week. II crap playing is con
5rary to public morality what shal
one say Of the game that is played
:. with stocks and bands and wheat anc
cotton? AS Col. Morse says, there i:
no doubt that commercial exchange:
are necessary and that there is az
important part for them to play II
our industrial system, hut it is equal
ly true that they have been MADE
the medium for practices which vii
sooner or later have to be regulated
better than they now are"