Pine Bluff daily graphic. (Pine Bluff, Ark.) 1893-1942, 1911-03-24
Pine BLUFFIAN
AGAINST THE BILL
% r. Alexander, President NJ. & P.
n.nt Writes Article for New York
commercial in Which He Resists
Passage Of Scott Anti-Op-
ton Bill.

.,o1 one of the most Influential and
videly read journals of finance in
Mo country, published at New York,
president S. c. Alexander, of the
merchants and Planters Bank of this
o,ty. wrote quite lengthy article,
which appeared in that paper recently,
IN which he strongly opposes the
oossago of the Scott Anti-Optlon b.!
now pending in Congress. Since
vr;ting the article Mr.. Alexander has
received many letters from cotton
factors and financiers over the coun-
try congratulating him on his stand
and expressing similar sentiments
The letter of Mr. Alexander to the
New York paper follows:
sir:-I have not been actively en-
eaged in the cotton business since
1907, though up to this time 7 had
snent 30 years in it, and know some
thing of the ms and outs from mind
ing the gap when boy on a small
farm in North Carolina, to the plao
ing of the staple in the mills of this
and other countries.
I am president CT the Merchants
| & Planters Bank of Pine Bluff, the
oldest state bank in Arkansas. | am
not in sympathy with Natchez' idea
of having the government interfere
with the present mode of handling
the cotton business. We all agree
gambling in corn, wheat, oats and
cotton or in anything else is wrong
| but how are you going to stop it?
Surely not by radical legislation, as
now proposed The wheat and tares
have been growing together for more
than 1900 years, and the good book
tells us if you root out the tares you
will hurt the wheat, but they must
grow together; they will be cared for
later on and so will the gamblers.
The followers of your 'Natchez
Reader" may influence the govern
ment to close New York, New Or
leans and Chicago, but they have no
corner on Liverpool. Bremen and
other markets. The base of opera
tons will simply be further removed
and the actual growers, the farmers
and planters, thrown further in the
dark. Arkansas few years ago was
wide open as to future dealing and
every little town of 1900 UP to the
capitol of the state had direct wires
To New York, with almost a continu-
ous market. Our Legislature said
this was awful and We must regulate
the morals of the people and prot 2ct
The farmer by closing the avenues Of
publicity of the markets. Now, Lit
lie Rock, Pine Bluff and Helena are
(he only towns with direct wire and
colEinuous markets, and none ibut
Members get the markets. Where is
he poor farmer benefited? He IS
being ruined and can't see it.
The country merchant and country
buyer, members of the Little Rock,
line Bluff and Helena organizations
AVE the inside I know the major
" of these country merchants and
Ountry spectators have made from
300 to $500 per bale on benders
md staples since the news has been
nut out of Arkansas. Very few OF
Ne farmers are posted as to the val
OF staples. especially when they
ass 15c per pound in price. Under
he old way, if Memphis sold any
rye lot or any lot at fancy prices,
nese future brokers or wire houses
y the country know it within an
our. Let your @Natchez Reader
ad the politician treat the entire
ountry as Arkansas has been treat
q, and they will become a stencil in
e nostrils of every posted farmer in
he cotton belt.
Dealing in futures legitimately IS
order. Unfortunately. few think
icy are smarter than the rest, spec
late and lose: and are. the fl. st TO
ollow Foul. Unfair, Dishonest,
ambling. etc, Restrict speculation
Your ''Natchcz Reader suggests
90 the burden of carrying the cot
N crcp would fall on the grower
the cotton Where would the
ice be in a dull season, as this has
zen with our eastern mills practl-
MY out of the market? The banks
Duld not help as much with unheds-
as with hedged cotton, consequent
Z the price must go down to where
tlmid and selfish would feel safe
believe six to eight cents would
the price instead of fourteen. 70
1teen as it is today.
me ,nnrcnnnol bo cotton