The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1911-11-22
Why The Covdrnment Pfosscutes One
and Let The 0heE Go Free.
GIVES A POOR EXCUSE
Why the Man Who Tries to Raise the
Price Of Cotton Breaks the Law,
While the Man Who Tries to Low
er the Price Does Not Break the
Law.
The following correspondence ex-
plains itself:
Abbeville, S. c., Oct. 81, 1911.

Abbeville, S. c., Oct. 81, 1911.
Hon. Geo. w. Wickersham, Attorney
General, Washington, D. c.
Dear Sir: 1 note that the case
against the Wall street bulls" charg-
ing them with cornering cotton Is still
n the courts and assume that you will
push the prosecution to conclusion.
While do not concur in the opin-
ion that it was the proper function
Of the government to interfere with
the enhanced value of commodity
that meant so much for the wealth
OF this country, l assume that you
can justify the prosecution legally.
II then the government had a legal
right to proceed against a combina-
ion Of spectators whose purpose was
10 force it has the same legal right to
proceed against a combination whose
purpose is to force down the price of
the same commodity.
OF the American cotton crop, ap-
proximately one-half is sold in for
eisn markets. A decline Of two cents
per pound means the loss to this
country Of s60,OO0,000 and to the
Southern farmer of s120,Oo0,00o. It
IS certain that bear" pressure on
Wall street has forced decline OF
fully three cents per pound in the
cresent market, thereby robbing the
South of approximately S105,000,O00
and giving it to foreign spinners. This
.iec!ine has been brought about BY
the bear element oversell!ng the mar
ket, publishing false or misleading
statements, and combining to KEEP
buyers out of the market. With nc
extensive knowledge Of exchange
methods, I think il is safe to say
hat if a combination may advance
| he market, a combination may like
wise GepTess it, and the fact IS, it is
now being done.
Then should not the government
interpose? If it was right il the
former instance 1t is right IN this;
and when the wealth of the nation
is threatened and the competency o'
Southern homes is being absorbed BY
the foreigners, should not the govern
ment at least place the weight of its
influence and power with its own cit
izens? An investigation OF bear
tactics would probably reveal ample
ground for criminal action agains
the leaders and prosecution would
probably dissolve the unfair combi
nation and allow cotton to resume its
normal price. At any rate it seem:
incumbent on the government, in
the premises, to throw the weight o.
it's power with the people.
This letter IS not written in an!
carping spirit, but in the hope tha
YOU may see the other side of the
question, as the cotton producer sees
lit, and use the arm Of the law, as fal
as possible for their relief.
I would rather to have an express
sion of opinion from you, as to wheth
er such prosecution would. in you1
judgment. be entertained by the
courts, and if it would, what likeli
hood there is, if any, Of the depart
ment OF justice taking such step.
Living in this section where cotton
is the prevailing crop, it is great
disappointment to me that the pro-
iucer should be robbed Of his legiti'
mate profit on that crop. If the gov
ernment can extend any aid, it could
never come more timely.
Respectfully,
Wyatt Aiken, N. c.