Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1908-09-11

enough to show that for every seller
there is necessarily a buyer, and that
it is impossible that the legitimate
transactions of sellers and buyers
could violate the laws of supply and
.lemand, whether those transactions be
in real or imaginary commodities; but
the increasing number of initiated Is
realizing that ii is not the legitimate
so much as the illegitimate transactions
of the exchanges that bring ruin to
he cotton producer.
The exchanges are everlastingly at
it. and when they are not robbing the
general public for the benefit Of their
pockets, they are robbing the cotton
producers to Justify, with the spinners,
their right of existence. BY this we
mean that when the general public,
moved by the bane of the gambler, the
lcsire to get something for nothing, is
biting well, the sharps on the exchange
"oap fat harvest. plucking lambs and
loves. Only an occasional outsider Is
lllOwed to win, and these are allowed
70 win only as a bait to the greed OF
,ther gamblers. The fleeing Of the
'ambs and doves is invariably followed
by a lull. necessary for the creation
If more of the same kind and this lull is
used by the gamblers at bogus trading
in preparation for a new onslaught
If suckers Though not necessarily so,
-hese lulls are usually followed by de-
clines. and these declines are used by
the exchange manipulation to prove to
The spinners their usefulness in putting
Drices to a basis Of actual values. AL
so the declines represent the setting
If the traps to catch more suckers.
The cotton exchanges are little else
than gambling institutions and the
most part of it is, they are not even
honest gambling institutions. There is
such a thing as honest gambling.
Where the chances are even and every
thing is fair, the thing is honest, to
say the least Of it. But in the case of
the cotton exchanges the chances
against the outsider are at least ten to
one and probably more. Everything is
in favor Of those on the inside.
Just what will be the result in case
the gambling exchanges can be sup
pressed, we do not know. 1t is possible
that the situation may be more or less
demOralized for a time; but we are
doubtful even as to that We think
that the benefit will rebound to the pro-
ducer at once, and that this benefit will
increase rather than diminish with
time. Anyhow, there is no question of
the fact that straightforward honest
dealing is always best for honest men,
and as it is certain that the exchanges
are permeated with dishonesty, there
can be no harm in their abolition.
But can Mr.. Smith accomplish the
abolition of the exchanges? 1t must
be frankly confessed that this is a Sc
rious question. The exchanges have
tremendous power in Washington, and
I single senator cannot make much
headway against them. But let us take
hope from the fact that we know Mr..
Smith to be we'll equipped for this
work. Although he is being sent by
South Carolina, he is really and truly
the acknowledged and accepted repre-
sentative of the entire south on this
question. The probability is that ev-
cry southern senator will voluntarily
work with him; but should any Of them
show disposition to balk, he will have
it in his power to spur them up with
the help of the thousands and thou
sands of cotton producing constituents
in their home state.
You have a big job on your hands
Mr. Smith; but if you do not win out,
it will be your own fault. If you are
content to keep quiet and have time
Of ease and inaction, you will accom-
plish nothing. If you are willing to
fight like you fought for the Southern
Cotton association, and like you fought
for the nomination you have just won,
you will not do a great deal for your
own material welfare, but you will ac-
cOmpliSh great things for South Caro-
lima and the south.