The Marlboro democrat. [volume] (Bennettsville, S.C.) 1882-1908, 1904-10-14
MORRISON OF GAMBLING.
Scores Cotton Future Gambling and
Says It ls Bad as Crap Shooting.

We are informed that the ora torical
hit OF the Cotton Planters, Conyen.
tion recently held at 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 1t was gambling, and that the
men who are responsible for it and
participate In it are actuated by the
silly supcrstitions which SO largely
control other gamesters. II Iregard,"
said Col. Morse, cotton speculation
or any form Of speculation where a
man buys what he does not want or
sells what he does net intend to de-
liver as gambling, pure and simple.
realize and admit that the Cotton
Exchange has It's province. There
must be such places as this where the
worlds business may be transacted on
broad scale and in an expeditions
manner. But too often the legiti
mate buying and selling Is over
shadowed by the speculation craze.
liere we have great commodity,
more important to the world than
any ether stap'e product, and what
fixes the price when speculation is ac
tive? Is it supply and demand? Is
1T the amount Of cotton on hand and
| the requirements Of the mills? Is 1T
the need of the world for cotton
goods? No, l will tell you few in
fluences more powerful than these,
more powerful than a killing frost or
wet seas on or the dreaded insect pests,
from boil worm to boil weevil Col.
Morse then proceeds to give in detail
the supcrstitiOnS which control the
operations OF some Of the prominent
members Of the Cotton Exchanges OF
the country. The gist of his conten-
tion Is that speculate, n In cotton is
gambling and that the men who en-
gage In 1t are gamblers as essentially
as are those people who bet their
money on horse race or on the turn
OF a card. In commenting on what
[ Col. Morse says above The News and
Courier says that this Is true of
spectators In cotton as we'll as of
] dealers in all other kinds Of Futures"
cannot be denied successfully. The
magnitude and the so.called legiti
macy of their business has until now
saved them from the reproach which
ouuuChCo w UuS CldpSIlOOUtT L anu the
faro dealer, but it cannot be doubted
that there will sooner or later come a
time when the public will have to be
protected against them just as the
public is now protected against other
men, who live by their wits, rather
than by work. 1t is q most anonal-
Gus thing that the soc: ETY. which con-
SidsrS itself injured and offended by a
game Of crups played for pennies up a
blind alley by bootblacks, applauds
the operati MS Of busiress men who
manipulate the prices of commodities
reck' ned necessiries Of life by betting
tn ir money OH one side or the other
OF what the market will be tomorrow
or next week. If crap playing is con-
trary to public morality what shall
one say OF the game that is played
Will stocks and bonds and wheat and
cotton? AS Col. Morse says, there is
no doubt that commercial exchanges
are necessary and that there is an
important part for them to play In
our industrial Syste n, but it is equal,
ly true that they have been made
the medium for practices which will
sooner or later have to be regulated
better than they now are"