The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1912-04-25


cally are these hedges made that
deliveries are contracted for eight
and ten years ahead, and personally
know of cotton sold for delivery in
1920 at II 3-4 cents per pound for
middling. This is legitimate bust
ness. These contracts are protected
by purchases made In the exchange.
and they are carried on from year to
year to the time of delivery, and
absolutely no risk is taken, and a GER
tain profit in every such transaction
is fundamentally assured. Every
body's commission, everybody's per
cent or profit, is fixed, assured and
insured; but the poor farmer alone,
who has labored the hardest, takes
all the risk and gets all the losses.
It is no wonder that the cotton
grower never gets rich; is always in
debt, and in mind and body is proto-
typed in that lurid mental picture of
Edwin Markham in, 1.-The Man With
the Hoe" He is the Slave of the
Trades, and is working for all the
others, who are riding him to death.
The one thing, the only thing,
that can save him is a stable price
for his cotton. If he knew what the
price of his cotton would be he
would make his arrangements accord
ingly, and if the price was not
remunerative he would cease to
plant, and would not be lead on year
after year by the dolusiveness of
hope. What he must Ahave, and what
his Government should guarantee to
him is, stability of price, a fixed min
imum price. A minimum price can
be fixed, and the plan I wish to sub
nit to you is, How to Fix It!
1t will never be fixed by an asso-
citation of individuals or combinations
of capitalistic corporations. They
have deluded us with their attempts
aid have always failed, for reasons
now unnecessary to give. It will
never be fixed by the National Gov
eminent. There are too many and
divers interests, and too much Of our
common country that have no direct
interest IN the production Of cotton.
1t can only be fixed by the State,
each State, acting in it's separate
and independent capacity as a sover-
eign. Let Georgia, as the Empire
State, lead, and the others will fol-
it. If they do not do it the people
Of those States who did not follow
her would move into Georgia for the
protection that she gave. What
then must Georgia do? At the next
meeting Of the Legislature pass law
to amend the Constitution of the
State allowing the issuance of ample
bonds for the protection of the Geor-
gia cotton growers. And then pass
laws carrying out this scheme of pro-
lection to go into effect on the ratif-
cation of the amendment by the peo-
pie. Issue one hundred million dol
lars of bonds, or more if necessary.
Let there be a provision in the bonds
that they can be recalled on notice of
sixty days or six months and, thus
retired from circulation, to be
deposited in the vaults of the Treas
ury for subsequent use.
Let there be a Cotton Commission
of three wise, discreet men nomi-
mated by the Governor and confirmed
by the Senate, who shall have power
to sell these bonds or hypothecate
them, and from the money thus
obtained through their accredited
agents, go into all the cotton grow
ing counties Of the State and buy the
cotton, only of Georgia farmers
grown on Georgia farms, whenever
the price reaches twelve cents for
middfing, and other grades in pro-