The Pickens sentinel. (Pickens, S.C.) 1911-2016, 1912-02-29
PICkENs-PEARL4 OF TIE z2zIzz2zAI Oz2S.Z,

Ican be absorbed during the yea
ending August 81, 1912.
In other words. the presen
crop viii barely meet the de
mand, conditions being norma
in other cotton raising countries
In India, for instanc the crol
is conceded to be short abou
100000 bales, and We have
heard nothing Of a large crol
in any other part of the world
We raised as heretofore stated
approximately 70 per cent. anc
this represents say l5,0C0,00(
bales. The other cotton produc
ing countries raise 80 Der cent
or 100000 bales. The total,
then. will be 21, 100000 bales as
against a consumption Of 81.
O0O,OOO. But India, as stated,
is 100000 bales short. which,
taken from the total supply.
would seem to indicate a short
age in the worlds supply OF the
cron Of something like 100000
bales of cotton. We need 81
.O0O,COO bales Of cotton, We have
only 19,90o, GOO bales with which
to supply them. In the face of
these facts cotton has been ham
mered down toS cents per pound,
2 cents below the cost Of pro-
duction, by a merciless set of
vampires.
Meaning no disrespect, but in
criticism of the narrowness of
the Attorney Generals view and
the shortsightedness Of his poll
cy, charge that he, more than
all other combined agencies is
responsible for this condition.
His prosecution Of the se-called
bull clement Of the exchange
has driven out competition and
made the market a one-sided af-
fair. No single operator can
affect prices on the exchange,
and no sane ''bull' operator
would enter combination while
he OF his fellows were undez
prosecution by the Federal
courts charged with this very
offense. The bears may COM
hine at will, but fc3 the bulls
to combine is il restraint Of
trade, is an affGont to the gentle
men of Wall street, and proper
cause for Government interven-
ton. What a spectacle.
Mr.. Chairman, if the Attor-
ney Genera. concludes finally
that he can not proceed against
bull operators, I believe a
committee Of Congress should
make investigation Of exchange
methods. IF it is a fact that
millions Of bales of cotton are
sold annually on the exchange
that never had and were never
Intended to have existence,
thereby abnornalIy depressing
its price, then the evil should be
eradicated. In the name of
common decency. in considera-
ton for the southern farmer,
Who contributes more to the ex-
port trade Of the United States
than half Of the rest Of this
country combined, this piracy
on his products should be stopp-
ed. If the cotton exchanges are
10 be one sided affairs, dominat-
ed bv the bears, lit would be
infinitely better to abolish them
altogether. Congress should
know the facts, and, knowing
them should pass such lceisla-
ton here as wiIi protect the pro
dr;cers o.. this country.
4 normal price fol. the present
crop of cot on would have been
t2i-2 cents per pound. Much
OF It has sold as low as S cents
per pound. Owing to bear ma,
nipulations. aided and abetteo
by the Government, the cotton
tolucer has easily lost 3 cents
pvl. pounds or the entire crop OF
S2I5, ,G00, ,000: and two-thirds OF
this amount, OF approximately
Sli5. .GGO, geo. has been given t
foreign spinners.
Nh. Tribble. Will the gentle
man yield for question:
lIr. Aiken Of South Carolina
Certainly:
Mr.. Tribble. | understand
Tie gentleman introduced hi:
bill some time ago.
Mr. Aiik6n of South Carolina
eS.
ir. ,iili1ble. Has the gentle
a.9a been able to set the Com