The Montgomery advertiser., 1905-09-25
BETTER GO SLOW.

In Going Into Mr. D. J. suIIy's PrOpOs-
 ed Cottcn Peoi.
 Mir Daniel J. Sully has flooded the cotton states with advertising in the newspapers and circulars from his New York office seeking to interest the pub lie to contribute to 8 fund which he ket: or as he puts it. to inaugurate an a
 eTSsni1rs We presume G1 Sr. Psuiiy is is perfecily honest fin his intentions to accumulate
 fund from the more 2ns snsnSsastS ,ntnHst snn S0t iatiof and acquire speculative profits for distribution amongst the contrtbu- tbs he pdpo eeornnSs for his missions 1t Is plain that Mir. Suliy would endeavor to make a profitable stsndinsx snowdnins the risk they would % run in placing large funds with him in his f. nancia1. condition, and the avenues to were Mir suily the kind of man who
 MT: sully's proposition to the cotton %S.n RiSnls anslyssd snHw up sefaom @ before sas such business confidence been shown. at least, on his part, when he asks the money with which to speculate on joint account. and which Subscriptions will be deposited in two, trust compan- ies and two national banks in New York City. and will be acknowledged on receipt of same by me, and will be approximately drawn upon for use in 9ts0a wSRsb the nublc witR vii their money carry. with them pro visions for the pmblic's protection aFEsanizing Esani aI into or a Sagtii corgporation along lines and in accordance with restraints and safeguards prescribed by law. iHgS for ang purpose Sy TnoT ant outsiders in the hands of individ- uals with absolutely no restrictions or ords of get-rich-quick persons. The question of responsibility Is one. of the first that occurs to the sensible man who is asked to subscribe money to a person for a purpose. so that the peo- pie will probably first desire to satis- fy themselves upon this score before stili, 1t is. probable no legal, action would lie to recover money subscribed for cotton speculation, not contemplat- ty. as being against law on thls sub ject. Hence, this feature may as well be dismissed.
 Mir. Sully's proposition reflect whether the South needs any such campaign as he proposes. Thorough sympathy with mislead us to endorse a plan to accumu- late money with which to force the prices of cotton higher whatever the may may be. If the the crop is small, as Mr, Sully intimates, prices will advance In time without the expenditure he pro- scribers would lose if loaded with long cotton when the facts become known may be saved.
 Air. Suliy states that what accom- plished two years ago, believe I can manipuiatio1 he forced cotton to prices profted largely as 2 direct result of Su1lys operations. The country was preclpitated into a cotton craze. specu;
 
 manner. and the collapse and its conse- quences have not been forgotten. These nigh prizes nSt Hnly had the esct of abnormaiiy high. prices established resulting in a 1sOs crop D of n nearly 'iG' i4,' 900, 900 bales. The consequences of this immense crop were forecasted in a de- every probability of still lower prices for future growth unless steps to ob this result were taken. And for a share of this the trade also owe sul-
 The decline in prices as a result of the high prices and succeeding big into distress which came near ranking for its serious consequences with the calamity among the English by the The cry for help was sounded. Our planters saw ruin and bankruptey stsr- the the roilickins good times and specula- tion of the previous season had come. and there was nothing ahead save mis- cry, gloom and misfortune. From one end of the cotton belt to the other the conditions were known and upon us. and the cry for help again and again resounded, until 1t was heard around the world. Who came to the rescue of the cotton planters of the South at this critical time? Where were the pool leaders and speculators who fed for years off the men who now saw the value of their product smashed and it's immediate future doomed? It remain ed for the South to restore herself Leadership was forthcoming to influ- ence a sufficient acreage reduction to reduce production within the bounds of requirements, and by making cotton property, rather than a drug upon the market, assures planters a reasonable return for their labors in cultiVating 1t. We all know where the money came from which made the acreage re- duction movement a success, assured reasonable prices and dispelled dark ness for the sunshine of dawn. Hap piness and encouragement now prevails among the cotton planters, who have prospects for satisfactory marketing Of their crop this season.
 Tn the light of the past we nok ask Mir. Sully in all candor, do you say and really mean What I accomplished two years ago. I believe l can and will do again, aided by the experience of the past the conditions as they exist, the knowledge at my command and the necessary capital?'