The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1908-12-04
Farmers Educational
AND
Co.OperativeUnion
OfAmerica
The Two Conventions.

The two cotton cOnVentions-One at
Now Orleans by the Farmers Union
and the other by the Southern Cotton
Association at Memphis-have passed
into history and the question natural
j., arises, what has been accom-,
plished?
Neither convention carried TO ma
,,,ritv any definite plan for holding
tho cotton crop for satisfactory
nrcns because Of the many difficult !
tips in the way of taking care of that
MORT Of it which is under mortgage |
for the supplies on which it was made |
pu+ both did much to overcome these |
diffcuIties by bringing fOrCibly before |
Tho business world the fact that when |
this fraction of the cotton is forced
mon the market in advance of the
demand for it, the price on the entire
crop is depressed and the South loses
millions of dollars which should flow
through all her channels of trade.
And not only did they bring these con-
ditions clearly before the business
world. but representative bankers and
business men expressed a willing
ness to cooperate along safe and
sound methods of improving them
The Farmers Union needs campaign
nj education among business men, as
well as among farmers, and the New
Orleans convention was worth all it
cost for what it accomplished in this
respect alone.
In the matter Of marketing that
nart of the crop not under the neces-
sitv of immediate sale, the work OF
both conventions is calculated to have
very beneficial effect. The sup
mort of the holding and gradual mark
citing movement by leading financiers
and large planters should be a power
ful stimulus to those who have hest
tated as to what they should do, and
where one bale has been held back be-
fore, two should be held since these
conventions.
II is too early to say what may be
expected from the great warehouse
scheme of the New Orleans conven.
ton. the committee in whose charge
it was placed has not given a definite
outline of the plan. Some such ar
rangement at New Orleans as that
made at Galveston by the Farmers
Union of Texas would materially help
and it seems quite probable that this
much will be accomplished. AS to the
organization of great cotton hold
ing company, that is another question
Evidently the Farmers Union is no
ready for such a move, and we do no
believe the time will ever come whel
it can be made successful. Our opin
ion is that the remedy does not lie il
that direction.
The one damaging result, in on
opinion, of both conventions was the
disposition to compromise with tn
SUttUH ~ iSllPitiS' Ss'i'
bling in cotton futures on the e,
changes was boldly defended and tn
claim was made that anti-bucket sho
legislation in the Southern states ha
helped to depress prices to the presen
low level. Of course, bucket shop
were condemned, although the speal
ers did not show why gambling 0
exchanges is any more beneficial
the cotton growers than on buckle
shops, but the spurious claim was at
Vanced that buyers of futures On tn
exchanges supports the spot market
At New Orleans no defender OF Il
ture gambling raised his voice on IN
floor of the convention, but in SON
way press reports went out to the e
feet that a strong sentiment had q
veIoped. or was developing, in the u
ion in favor of amending our ant
bucket shop legislation so as TO pc
nit gambling on Legitimate e
changes" whatever they are. Tn
ought not to have been, because the
is no such change of sentiment
the union and the spreading OF SUI
reports will strengthen the specul
tors and gamblers in their wa! up'
these laws, which will be rene"'
before the next legislatures.
As a whole, however we believe &
New Orleans convention has great
strengthened the holding and gradu
marketing movement; has strcng'
ened confidence in the final ontcoi
for better prices, and we confident
expect to see more cotton held Tor D.
ter prices and a gradual advance
the market National Co-Operator.