The interior journal. [volume] (Stanford, Ky.) 1905-1910, 1909-09-07

will have competition in buying tobac-
co. There Is no natural monopoly in
manufacturing tobacco. With the great
amount OF capital in this country seek.
Ing investment at low rates OF interest.
competition In manufacturing tobacco
VIII continually arise. Though they
may buy 1t out for a while. still new
competition will spring up. like the
water In some great and everlasting
spring. whose flowing IL rather in.
creased than diminished by draw
ing the water from IL. As a mat.
teer of fact. We have had more or
less competition for the last six
or eight years since the Continental
commenced buying in the country. suf-
fcient at least TO give us very profitable
prices for our tobacco during that
period. For about half OF that time
we have sold TO the independents.
Should tobacco get too low growers
on land not suitable for tobacco, where
the cost of production is relatively
Highland this would include prob
ably good deal of the new territory
will quit raising and thus reduce the
supply and increase the price. II to-
bacco were to sell too high, so that
the consumption at the price would not
take up the supply raised. then the
accommodating surplus would be a
weight to break down the market
finally. A fair price for a commodity
is the average price at which con-
sumption or the demand will take up
the supply, too high or too low the
equalization process is bound to go on.
THE Mills OF the gods grind slowly.
but exceedingly fine"
These forces embodying the law Of
supply and demand work without cost
or friction or violence or disorder. On
the other hand the artificial arrange
ment of the Equity works by the arbi-
trary dictation of an executive COM
mittee or president, taking a mans
business out of his hands, with all
sorts of costs for prizing, insurance.
storage, interest. shrinkage, fees and
salaries with all its bulldozing OF indi-
viduals and the attendant violence and
lawlessness. Then, again, as further
means OF protection against all
trusts, the Continental, as well as
the Equity, the worst probably. how
ever well intentioned by its founders.
we have ever had, send sensible.
practical men. not demagogues, to the
legislature and congress who will pass
reasonable laws to regulate trusts
This Is a very complicated matter, and
even the best meen at first and after
ward will make mistakes, but let them
profit by their mistakes and gradually.
as taught by experience, evolute laws
that will approximately accomplish
the purpose. Then let the people
elect honest and fearless executive
officers to enforce the law. But, to be
honest, we must trust mainly to the
law of supply and demand
The speakers on the other side
in regard to the new pledge give about
the same reasons in defense OF II
that the Gear Of Russia would give In
tustifying his refusal to give further
liberty TO his parliament and his peo-
pie. The details OF this pledge viii, no
doubt, be thoroughly discussed by Mr..
Cantrill
Now In conclusion I want to say I
come here with a good many handi-
caps In the way Of physical condition
and voice, solely. II know myself. in
a spirit OF patriotism. We are all frail
II can afford to speak the truth. for I
want nothing. Mr.. Watterson has well
said that a man is only a free man
when he wants nothing My Mind has
been oppressed with pail of appre-
hension and dread. | am afraid that II
you sign this pledge and from this
pool, that with the immense growing
crop. especially a large part OF 1t be-
You'd the influence of the Equity, that
the society ct the end OF 1909 viii ind
itself in exactly the same situation as
in 1908. The Continental will be able
to get sufficient tobacco from various
sources so as not to be forced to buy.
The impunity with which you cut
out the 1908 crop will. when you get
again In the hole, encourage you to
try It again, and IL you do, though |
am a man OF peace and law and will
try to prevent any fraction OF either.
Il am sure from my knowledge OF hu-
man nature that the people will not
again submit 10 having their legal and
constitutional rights Of attending TO
their own business in their own way
denied them. The dreadful result OF
this conflict no man can predict. That
this apprehension is not chimerical Is
strengthened by the fact that the new
pledge provides for a permanent Or
ganization in the way Of stock COM
pany. with highly paid officials as a
matter of course, whose selfinterest
will urge continuous activity, and who
will very much increase the probabili.
ty OF the society's resorting to any
means to avoid failure in their des.
potlc plans. This apprehension more
than any question OF price has actu'
ated me TO come here today.
Law and order, peace and good VIII
and the protection of our rights OF life
liberty and property are above price
p. S. No. 2-The Equity Burley
trust crowd say | am the bought
spokesman OF the Continental. while
in fact am the only independent man
who Is against all trusts OF whatever
form or shape-who receives no COM
pensation for his services and pays
his own expenses for publication. etc.
My comparison is solely with the Lee
Bus crowd.
The equity orators are, so far as l
know, either candidates for once.
high salaried officials and employees
or those having their expenses paid.
These various sums, we. confidently be-
lfava coma ont Of funds aCcruing from