The Harrison times. (Harrison, Boone Co., Ark) 1876-1938, 1908-12-05
Farmers Educational
AND
COOPERATIVE Union
Of America
The Two Conventions.

The two cotton eonventions-one at
New Orleans by the Farmers Union
and the other by the Southern Cotton
Association at Memphis-have passed
into history and the question natural
ly arises, what has been accom-
\ plished?
Neither convention carried to ma
turity any definite plan for holding
the cotton crop for satisfactory
prices because of the many Difficult
ties in the way of taking care of that
part of it which is under mortgage
for the supplies on which it was made.
But both did much to overcome these
difficulties by bringing forcibly before
the business world the fact that when
this fraction of the cotton is forced
upon 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.
u The Farmers Union needs a campaign
of education among business men, as
well as among farmers, and the New
Orleans convention was worth all it
cost for what II accomplished in this
respect alone.
In the matter of marketing that
part of the crop not under the neces-
sity of immediate sale, the work of
both conventions is calculated to have
q very beneficial effect The sup
port of the holding and gradual mark
citing movement by leading financiers
and large planters should be a power
full stimulus to those who have hest
lated as to what they should do, and
where one bale has been held back be-
fore, two should be held since these
conventions.
It 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 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 not
ready for such move, and we do not
believe the time will ever come when
It can be made successful. Our opin-
ion is that the remedy does not lie in
that direction.
The ore damaging result, in our
opinion, of both conventions was the
disposition to compromise with the
cotton exchanges, At Memphis, gam
Bling in cotton futures on the ex-
changes was boldly defended and the
claim was made that anti-bucket shop
legislation in the Southern states had
helped to depress prices to the present
low level OF course, bucket shops
were condemned, although the speak
ers did not show why gambling on
exchanges is any more beneficial to
the cotton growers than on bucket
shops, but the spurious claim was ad-
vanced that buyers of futures on the
exchanges supports the spot market
AT New Orleans no defender of fu-
ture gambling raised his voice on the
floor of the convention, but in some
way press reports went out to the eff
feet that strong sentiment had de-
veloped or was developing, in the I'M
ion in favor of amending our anti
bucket shop legislation so as to per-
NIT gambling on Legitimate eX-
changes" whatever they are This
ought not to have been, because there
is no such change of sentiment in
the union and the spreading of such
reports will strengthen the specula-
tors and gamblers In their war upon
these laws, which will be renewed
before the next legislatures.
AS a whole, however, we believe the
New Orleans convention has greatly
strengthened the holding and gradual
marketing movement; has strength
ened confidence in the final outcome
for better prices, and we confidently
expect TO see more cotton held for bet
ter prices and a gradual advance in
the market.-National Co-Operator.