The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1907-01-18

buyers of cotton in that state, together
with the loyalty of the members of the
legislature, Secured the overwhelming
passage of the "Boykln" bill, the pro-
visions of which drove every private wire
exchange and bucket shop out of business
on December 81, 1906 The law is good
one. 1t will stand the test of courts aud
VIII accomplish the objects desired, not
withstanding the fact that its provisions
are being opposed at the present time by
the continued operation of one or two
gambling institutions in the state. As
the legislatures of other southern states
convene this winter, | am assured that
similar laws in those states will be passed
and within a short time the whole south
will be freed from this species of graft
and iniquity, which has for years period
ically robbed our people of millions of
dollars and depressed the price of cotton
far below its legitimate value. This as
ISOLATION has no desire to make war upon
any cotton exchange which issues an hon
est, legitimate contract to be used to
facilitate the handling of spot cotton by
the legitimate cotton trade. But all
forms of gambling, speculation and graft
the association will continue to combat
until relief for the cotton growers who
suffer from such institutions has been
fully obtained.
New York Cotton Exchange.
Last September l was especially di-
rected by the executive committee of this
association to take steps looking to the
suppression of the unfair practices and
wholesale speculative features of the New
York Cotton exchange.
Recognizing the power and influence OF
that exchange, with its tentacles of
branch exchanges covering all sections of
the country, the millions of dollars at Its
command, and the INSCRIPTIONS methods
employed in many of Its official acts and
doings | fully realized the enormity OF
the undertaking. But as | have never
for one instance hesitated or shirked the
responsibility of my duties to the people
of the south, | went forward determined
to do my best regardless of thu ultimate
result of the issue.
without adequate funds 1t was diff
ffcult undertaking to secure evidence and
perfect a plan of procedure that would
ssubstantiate charges of Illegal ana UNI
fair practices by the officials of that ex-
change. While | was busily engaged MAX
ing war against the evils of local wire
exchanges and bucket shops in the south,
and also fighting the iniquity of certain
practices of the New York Cotton ex-
change, my efforts were being to GER
tain extent handicapped by bitter and
interruptions attacks concentrated against
me bv friends of these institutions, and
surreptitiously published in columns of
many leading newspapers in the south. |
was charged with specializing in Wall
street and organizing a campaign TO de-
press the price of cotton | was charged
with being a gambler and an enemy to
southern farmers. If there had ever been
one scintlla of truth in these infamous
falsehoods and charges they would have
l,tff
mine. and the Southern Cotton associa-
ton, and sent broadcast throughout the
entire country. | admit that | made num-
erous visits to Washington and New York
STUDYING the evils which burdened the
farmers of the south through certain In
stitutions in both cities. talked TO many
southern congressman as to the best ways
and means of securing relief through fed
eral legislation. In New York | worked
to secure evidence to snbstantiate charges
of evil practices by the officers or the
New York Cotton exchange. held con-
ferences there with the heads OF great
banking institutions in an effort 10 induce
the cooperation of eastern banks with
southern banks so as to guarantee an
abundance Of cheap money in the sou II
and enable southern farmers to secure
leans to meet their maturing obligations
on warehouse receipts. and by holding
back the staple, force prices to higher
levels | have held conferences in New
York with representatives of leading
wholesale jobbing houses in that city ana
Chicago. in an effort to ascertain the
supply of manufactured cotton and the
price at which the goods were sold, In
Guiding the supply and demand | have
held conferences there with men interest
ed in the Industrial development of the
south. all of my acts and doings being
fully known TO members of the executive
committee of this association and Endorsed
and sanctioned by them. Any man who
serves as the official head of this ASSOC
citation must investigate and study every
phase and detail of the cotton business.
If his advice is to be either valuable or
reliable Ny every thought and every act
has been for the advancement of the best
interests of the south, and ! can point TO
NV record up to this good hour as an I'M
answerable argument to that fact. and
a. a replv TO those who have done all in
their power to iniure my influence and to
destroy the usefulness Of the powerful
organization of which have been the of
fetal head for the pas: two years | ask
Won nv countrymen. to stand loyalty by
the Southern Cotton association, and de-
fend and protect it against that great
army numbered among the speculative In
terests of the country who have banded
themselves together with their millions OF
dollars and INSCRIPTIONS tacifcs 10 de-
stroy 1t.
On December 20 Hon l.. +. Livingston,
member Of Congress from Georgia. wired
me to maet him at once in Washington