Okolona messenger. (Okolona, Miss.) 1900-current, 1907-09-18

gamblers The annual convention Of the union fixed the
mnipum price for this year at IS cents.
Classifying the New York cotton exchange as the most
dangerous enemy Of the list Of those opposed the welfare
Of the farmer, President Barrett says:
We think that the New York gambling concern on
Wall street has cost the cotton millions Of dollars
and intend to that money hereafter by marketing
the cotton price which we think fair and honest and
not the fictitious prices Of lot Of gamblers who don't
mind fleeing the farmer any more than does bunco
steerer greenhorn We have discussed the situation
fully and have suggested what believe to be remedy
and that make the minimum price OF cotton 10 cents
and to hold the cotton unless that price is paid.
The spectacle Of the cotton producers Of the south lined
up in battle array against the market manlpulators. who
have without showing scintlla Of value annually
sheared off millions from the tangible wealth OF the
tion is interesting For these planters, whether
owners Of 6ve-acre or 1O0-acre farm lighting Tor
the material welfare Of an entire section.
One has but visit the New York cotton exchange to
see the method whereby SPECTATORS who would not know
the growing cotton if they we're to see it. used
in the reckless game that annually nets them millions Of
dollars This actual wealth, in obedience to liked econ
omc laws must from source; in this the
pockets Of the who had produced the staple.
Every day hundreds Of thousands of bales Of hypohet-
ica cotton changes hands under the conveniently elastic
future delivery system and only few bales Of real cotton
are sold or delivered conract-and even these few
palry bales are generally property cotton which
used times without number for the valdaton OF mythical
deliveries
Under the rules and cIassGcatons Of the exchange the
sixteen grades below mdding the basis, and the nine.
above so operated place budgeon the hands
Of manipulaors, allowing them to FIX prices the country
over at their caprice without reference to actual
value and to (ost the occasional gulble buyer such
rank stock as does not lend itself to bona hde manuac
turing uses.
The exchange has perverted It's legitimate function Of
barter and sale substituting therefor and countenancing
practices that places in the category OF such palaces OF
chance as Can6elds gambling institution at Saratoga or
Leopolds green baze cong Generation at Ostend
The action Of the Farmers Union Little Rock means
that the producers have determined that hence
FORTH they will take the situation in their hands; that
following the custom that applies to transactions between
producer and consumer every other held the farmer
will say to the buyer
| Il have here certain amount o cotton which cost me
definite sum to produce; the laws Of supply and demand
and consumption tell me that is worth is cents pound
in the open market that is the lowest figure at which
dispose OF it, take it or leave as you please.
1t is only necessary that the producers display loyalty
toward their organization, and corporation in the maturing
Of its plans to insure the realization Of the 15-cent min
mum throughout the entire season. and the elimination OF
disastrous Interference from the New York Cotton Ex-
change or any other combination that has heretofore
raised or lowered the price OF cotton at its will
Simply stated, the farmers have control Of the
situation 1t is their primary and inalenabe right to say
at what reasonable price they will sr the product OF their
labor They recognize the fact the hey cannot force
unreasonable price and that it would njurs their cause
to attempt to do So That is why they have kept within
the bounds Of and justice in naming 10 cents this
year.
And they will discharge their plain duty to themselves
and the entire south BY rigid adherance to the plans
outlined for their guidance.