The Montgomery advertiser., 1909-01-27
About speeaIatiOn

Cotton and Cotton oil News.
 Eighteen months ago the cry went up all over the land to wipe out the cotton speculator and cotton would at once advance. The bucket shop" was made the slogan of warfare against cotton speculation. The leaders of the farmers organizations and the lesis- lators knew nothing about the situa- ton. The lawmakers frankly admit ted that they did not know the differ ence between bucket shop ahd a hole In the ground. but that their cOnstit- usncy were demanding the complete abolition of all cotton speculation, and therefore they all had to go, the bucket shop as well as the legitimate branch of the legitimate exchange.
 We'll, we are now face to face with cotton prices that will cheek produc- ton at least 15 per cent. If they pre- vail at planting time. What a shame dition that will curtAil production. with one fifth of the worlds populati naked for clothes!
 The (bulD speculator has been put cut of business and cotton has gone down instead of up.
 ., We should like to hear from some of those organs and leaders who were frantic in their efforts to cut out the silent" on admittedly vicious forms of gambling without any beneit to eith- CT the consumer or producer, toll us why cotton has not gone up.
 
 CTS with both feet because they thought 1t was popular, and, being entirely and crlminally ignorant of what they were doing. have brought losses to the plant CTS of cotton estimated at S2O0, 900, 900.
 Is this paper In favor of gambling? Most assurediy not.
 Is the cotton planter in favor of the Southern cotton men having the op- portunity to buy the market up every time the European spinner sells it down1 Win the aplnners aid societies, alias the farmers orGa nlGstiOns. and a few agricultural newspapers. and few demasogues please answer?
 The boys all got out and shot the bulls dead with the legislative cam mons. but the said eAnnons would not shoot far enough to kill the bears.
 It Is grave crime to speculate in cotton in America and raise the price. but righteous act to sell it down In Europe. The American planter sVi- dsntly agreed with the European pro. test against high-p priced cotton because he has cO-operated with him most sue cessfully in fighting high prices
 It must be with a curious mixture of emotions that the tenant farmer sells his Scent. cotton and buys I6-cent domestic corn and meat. and conteIn- plates the manifold blessings that the passing of the cotton G&mbler" has conferred upon him.
 Is 1t not now plain to the dullsst mind that the most stupendous blum der of centuries hae been made in cut tlHB OH the DUH BuppOTl or cotton. while consuming markets remain ab- solutely in undisputsd control of the sltuAt tiOn.
 Does not the soaring prices of grain. In the face of a hOunteOus harvest atteAt the balanGshg influence of a pro ducerH market?
 What would happen to the price of grain with the Chicago Board of Trade stricken from eXistence? What has happened Co the price Of cotton with the New Orleans cotton exchange prac- tfcally paralyaed for the lack of bull support Of cotton?
 We cannot have . balanced market for cotton or any other great Sommod- fly unless we have both a buying and q selling market Lot us restore to New Orleans and the South generally the arms Of defense that have been taken from them. Let us make 1t c penal offence to run a bucket shop. and also penal offence for any Oper- atOr on either the New York or New Orleans cotton exchanges to bucket any orders either for the purchase or sale Of options
 Tn the very nature of things. forty nine hftieths of the eRrth's population are bears on the cotton situation. They are consumers. whilb the other hftieth are producers. Yet we have beheld the amazing paradox of one -hftieth surrendering all their prero6ative in the price making propagsnda, and ae- tuailY helping the majority obtain lower prices for their cotton.
 NO sale or purchase of cotton was ever made on aNegtttEnate exchange