The San Francisco call., 1905-08-27
THREE MONTHS
OF BOYCOTT|NC
European Manufacturers to
Buy No American Cot
ton Within, That Period
WAR UPON GAMBLERS.
Real Meaning of the Action
Recently Taken by the
Federation of Spinners
Special Dispatch to The Call.

Special Dispatch to The Call
LONDON, Aug. 2s-Representing not
only Great Britain. but all Europe, the
International Federation OF Master Cot
ton Spinners' and Manufacturers Associ-
ations has declared war against the
American gamblers In cotton. That Is
the meaning OF the agreement reached at
/ the recent emergency meeting or the as
ISOLATION, at which 1t was decided to
strongly urge every cotton spinner In
Europe and America to refrain from buy
ing American cotton during the next
three months, except for immediate
wants" 1t is recognized here as the most
1 important step ever taken by the repre-
sentatives OF the great cotton industry to
prevent an artificial imitation Of the price
Of the raw material. such as caused wide
spread suffering and loss when the great
Sully corner was established.
| While the statement which was given
out for publication at the conclusion OF
the meeting has already been cabled to
America, an interview which have just
had with w. c. NIAGARA. president OF the
association. who presided at the gather
ing. throws an Illuminating light on the
objects aimed at, and the means by which
1t is sought to attain them
IT am particularly anxious" said Mr..
| Macara, that IL should be understood
movement hostile to the American cot
| ton growing industry. The decision
we have reached has been forced upon
US by the necessity Of taking some step
| to counteract the pernictous effect on
| the trade brought about by the recent
enormous enhancement OF the price OF
the raw material. due to the action OF
speculative rings. We are united and
we are in deadly earnest. Although
the meeting was summoned by tele-
graph. 1t was attended by representa-
tives OF the association from all over
Europe. The Master Cotton Spinners'
Association in England, OF which I am
the president, alone stands for thirty
two million spindles. We deliberated
| on the matter for over six hours before
we formulated our agreement.
I'VE hold that there is nothing more
important for this great. worldwide
cotton industry than TO rid IL OF the
curse of gambling in It's raw material
Every penny per pound that is added
to the cost Of the raw material by this
process represents an advance of many
millions OF pounds sterling In the cost
of the worlds supply Last year the
cotton crop was raised by this means
1 speak of average prices-from four
pence a pound, which would have
been a fair price. to seven pence
| a pound In American money that
means a raise In price from eight
cents TO fourteen cents a pound. I
have calculated that 1T resulted in TAX
ing out of the industry E100. 0.000. 600
roughly speaking, s5O0,000,O00 In your
money.
IN the main the gamblers alone have
profited by IT, and manufacturers. opera
tives and consumers have suffered by IT.
The repetition Of this sort of thing will
demoralize that whole industry, infiict in
calculable loss and suffering and in
wrN1rr hANT IL IL .ax4w. ATr.rwr N1..-
perceive the same speculative gangs are
! at work again. and have already sue
ceded in greatly increasing the price OF
the raw material We are determined to
exercise every means in our power to put
| a stop to their methods We confidently
expect that public sentiment in America
| Will support u.s. American cotton manu-
facturers have the same interest in get
ting the raw material at a fair price that
we have. And so have the consumers.
"Of course, the question is a more vital
one in England than to any other Con-
tinental nation engaged In the industry,
because II is a vastly bigger one here
While they manufacture chiefly for their
own populations. we send our goods to
millions in China and India-the poorest
people in the world. When prices go up
they can no longer afford to buy. But
the Continental manufacturers are In
hearty accord with US. The bond Of self
interest unites US.
while American cotton, roughly
speaking, represents three-quarters OF thu
worlds supply, an artificial enhancement
of it's price is followed by similar In
crease in the price of the material from
other sources. The price at which Ameri-
can cotton is held controls the markes
price for the rest Of the world II Is foR
that reason that we have decided not to
purchase American cotton for the next
three months"
But will the manufacturers be able to
get along without purchasing American
cotton for the next three monthsT I
asked.
THAT matter was thoroughly gone intd
at our meeting" replied Mr.. Macara-
I'VE are in excellent shape to make the
| fight. Last years crop was exceptionally
good and 1t has been estimated that
there will be at least 100000 bales avail
able surplus to add to the new crop Re-
ports made by members as to the condt-
tions prevailing IN the countries repre-
sented showed that the European cotton
industries have on hand ample supplies
to cover their engagements for the next
three or four months. With possibly a
i few exceptions, cotton spinners do noe
need to enter the cotton market before
the new cotton crop arrives at the end
i Of October What we propose TO do,
therefore Is simply to keep out OF IL and
let the cotton SPECTATORS deal as best
/ they can with Cne SlLudllOn lucy ndHo
created II some of them come TO srief
we shall shed no tears 1t isn't going to
be our funeral this time.
misleading figures as to the extent OK
the new crop have been circulated In the
interests of the spectators. When accu-
rate figures come in we shall consider
the situation and take whatever steps
may be necessary to meet II should the
supply prove less than the demand We
are determined that spectators shall not
control the market. AS for the American
cotton growers, we have none but the
best feeling for them. We wish them TO
get a fair price for their raw material
and are willing to pay IT, Even II the
most sanguine expectations OF those en-
gagged in the movement for supplying
British spindles with cotton grown with
I'm the British empire are realized, It
must be long years before we are inde-
pendent of the American supply.
Opening of Night Law school.