The Montgomery advertiser., 1907-01-18

Cotton Exchango held conferences
 there with the heads of great banking
 cooperation of Eastern banks with
 Soutnern banks, 30 as to guarantee an abundance of cheap money in the
 secure loans to. meet their maturing oDnGations on warehouse receipts, ana
 by holding back the staple, force prices
 to higher levels. I have held confer
 enccs in New York with representa-
 tives of leading wholesale jobbing
 houses in that city and Chicago in an
 enort to ascertain the supply of manu- factured cotton and the prices at which the goods were sold. including the supt
 ply and demand. l have held confer.
 ences there with men interested In the
 industrial development of the south, all of my acts and doings being 1uiIy
 known to members of the Executive
 Committee of this association, and en-
 dorsed and sanctioned by them. Any
 man who serves as the oI-
 ficial head of this association
 and detail of the cotton business. if
 his advice is to be either valuable or reliable My every thought and every
 act has been for the advancement oI
 the best interests of the South and can point to my record up to thls good hour as an unanswerable argument 10 that fact. and as a reply to those Wno have done all in their power 10 in1uae my influence and to destroy the use
 fitness of the powerful organizaton of which I have been the official head for the past two years. ask you, ny Southern Cotton Association. and de. fend and protect 1t against that great army numbered among the speculative banded themselves together with their millions of dollars and interruptions tactics to destroy 1t.
 Post0f1ice Fraud Order.
 On December 30 Hon. L. F. Living ston. member of Congress from Geor- gia. wired me to meet him at once m ssuancs Of t9 frans aa order by the Uni
 against certain oficiais of the. New joined Colonel Livingston in Washing ton. and after preparing the cnarges and affixing our evidence, the re4uest master General cortelyou on January which secured in Ney York sanua1y which have already appeared in the press of the country. These charges will be proven by men or hign char acter and unimpeachable integrity 1T inc evils charged cannot be apated through the postoffice department they will be reached through other legal oe- partments of the State or federai gov ernment My only object IS to rorce the New York Cotton Exchange 10 adopt the same methods employed Dy the leading cotton exchanges. ana lssue a dl, can be used in the legitimate cotton trade, or to force it to go out or pusl- ness. want the New York cotton Exchange to deliver spinnable prades of cotton on contracts based upon the true intrinsic value of the staple. ana stop it's present practices or operatIns A gambling institution to the great det- | rtment of Southern cotton growers. Tn this fight I want the backing and co- operations of the people Of the whoie
 I am threatened with arrest and criminal prosecution by the omcialS or that exchange, because l have had the nerve to expose their unfair ,pIac.ice99 defy them to place their threats in exc cution. I Had rather live upon the va DOTS of a prison cell through the dis in the gflded walls of palace built by money illegally wrung from the hard earned labor of the farmers or the South.
 In conclusion, my countrymen, let me say to you that no great organlzatlon' such as the Southern Cotton o Assocla5 nd purposes without competent funds to meet its demands and the active O. operation ana sfncGft S of he fs woPk Your officers and executive committees; both State and national, have served fss isSS at great personal sacrifice to their own interests. This you cannot and saoufd not expect to continue. The. members of your executive committee have been loyal to the trust imposed upon them and have acted with great conservatism and wisdom in outlinin@ the policies and purposes of the association. The people have taken their advice and greatly enefited their financial condi- ton. have given to you in the ser vice of the associtlon, two years of my best efforts. and sincerely trust that the officers who are to take charge of the association for 1907 will guide it onward and upward to even greater successes than have been gained In the past. Let there be true Southern har- mony and cooperation between this > association and any and all other or strivine for the uplifting and bettermsnt of the agricultural. fin. dustrial and financial development of the South In this beautiful city of representing the great coal and iron center of the United States. located as she is in the heart and center of the cotton belt, let us as true Southern patriots, with hand in hand and heart against heart, pledge our loyalty, one to the other, for the of our country, the protec- ton of our homes and the future safe guarding of the products of our labor. May the great God of the universe bless you and guide your deliberations through this conference.