The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1907-01-19
baser metal and should be sent back
to natures mint to be remoulded.'
Indictment of Cotton Exchange.


I'm speaking of the bucket shops, l
would feel that | had not discharged my
full duty unless ] raised my provincial
voice in commencing President Jordan OF
this association. and others, in the in
dictment that they have lodged against
the New York cotton exchange. If half
of what has been said is true, relative
to the New York cotton exchange, the in
dictment is just. In its misleading OF the
people 1t has been as 'smoothed Tipped as
a Delilah' and as treacherous TO the peo-
pie of the south as she was to Sampson
Ever and anon through its letters, di-
rectly and theoretically, 1t has been maxi
ing promises they never intended keeping
and have done so as glibly and as easily
as a school girl huns an idle song as
she trips to school, and breaking them
as easily as fades from view the 'archl-
lecture of a mirage.
For a number of years it has been
apparent to the people in all sections Of
the country that the New York cotton
exchange, in it's manipulation, has worked
an irreparable injury to the producer or
spot cotton and those dependent upon Its
price, and that instead of being the
agency through which the cotton OF THIS
country could be sold at best advantage,
and at a price whereby the producer
and buyer could each receive a fair bene-
fit, it has degenerated, as has been said,
into a speculative, or gambling lnstltu-
ton, and which has exercised an lnf1n-
ence that has dlsorganized and paralyZed
the hope of getting an honest price Tor
our CHEZ crop. In seven counts has the
New York cotton exchange been indicted,
and If found guilty on a single count land
from the charges the proof seems album
dant) 1t should be torn down and tossed
into the sea, and those that are respon-
sible for this condition should be placed
behind the prison bars II there are any
laws upon our statute books to reach
them.
President Roosevelt.
"In politics | occupy an opposite position
to that of the President, but believe him
to be a man in all that the term implies,
from the crown of his head to the sole
of his feet / regard him as the Pres
ident of the United States, and II his ac'
lions and words in the past count for
anything they can be summed up In one
sentence-fair play. / believe that when
the action of the New York cotton eX-
change has been fairly presented to him,
that he Is big enough, courageous enough
and determined enough to give the the
people of the south all the necessary as
sistance In correcting this evil that is a
menace to the success OF TINS orsahiza-
ton.
"Wben I read of the manipulation Of
the New York cotton exchange, and
brought to learn Of the injury that year
in and year out they have heaped upon
honest labor. I am reminded of a story
In the early days of California, when
there were no telegraph, telephone or rail-
way systems, a man who stole horses was
thoroughly and cordially despised The
horse thief was regarded as the meanest
man who walked the face of the earth.
and when caught was promptly hanged
During that time there was one horse
thief In particular who had carried out
his unholy calling for some fifteen years
without being apprehended. The people
knew who he was. but like the irish
mans flea he was hard to locate. II Is,
however, long road that has no turn.
and so the good people OF that section
of the country laid for this horse thief
one bright summers day and they caught
him and when they caught him they
hung him and as his body swayed
and swung from the limb of a friendly
tree. they placed this placard on his
back: This was a very bad man In some
respects. but damned sight worse in
others In my estimation the New York
cotton exchange bears the same relation
to the people Of the south, and occupies