The Pickens sentinel. (Pickens, S.C.) 1911-2016, 1912-02-29
AIKEN SCORES
COTTON BEARS.
Asks for Drastic Regulation Of
Cotton Exchange. Gives
Some Interesting Fig
ures on Cotton

Mr.. Hay. Mr.. Chairman. ]
yield Is minutes to the, gentle
man from South Carolina (Mr
Aiken.)
Mr.. Aiken of South Carolina
Mr.. Chairman, some time ago
introduced a bill (H. R. l240S
the purpose of which is to reg
ulate transactions ion the pro
duce exchanges of this country
This bill if enacted into law, viii
confne transactions on the ex
changes to crop products actual.
ly in existence and ready fol
dilivery, fixing proper penalties
for violations of its provisions.
At the same time I introduced
this bill July IL, 1911 knew
ia a general way the evils of
exchange methods, but their
enornitY was not known to me
fully until the closing months
Of that year.
Only a few years ago a large
percent of the lands and homes
of southern farmers were under
mortgage. Reduced to poverty
by the war, the southern soldier
came home to enlist in an indus
trial struggle full of deprivation
andslittle!less terrible in it's effects
than the scene Of blood and
carnage through which he had
passed. Cotton, by reason of its
climatic adaptability and ready
market value. is the natural
southern crop, and its cultiva-
ton offered the only hope to the
southern farmer after the War
Of Secession. In the history of
it's decline in price to less than
half the cost of production could
be written a history of depriva-
ton, suffering, and even want
never before experienced by a
people of like refinement and in
telligence. Northern cotton mills
were reaping a harvest. They
extended their investment to
the North and South, mill in
terests fourished as never before
in the history of this country.
Southern homes were swept
from their owners and converted
into mill profits, and these in
turn placed in new mills. Hard
as was the struggle with the
cotton farmer, it was not with
out its beneficial results in Gre
ating new demand for his cot
ton Though many were. driven
from their farms to seek work
in the mills, a better day began
to dawn on those who remained
On the farms. Increased manu-
featuring took cotton more and
more out of the hands OF the
speculation, and it began to COM
mand price that gave a profit
to the producer. Mortgages.
yellow with age, were lifted
from southern homes, and peace
and contentment could be read
even in the lines Of the furrowed
brow.
These dark days in our his
tory will never be reenac'ed.
Our people have concluded that
they are entitled to a part of the
profit of their crop, They have
built warehouses and SO diversi-
fed their crops as to stand the
assault Of the cotton gambler,
and a few Of them, atleast, will
share the profit With him and
the mill men.
Determined, then, as a few of
our people are, to have share in
the profit on their cotton. the
indignation they feel toward a
lot of cotton gamblers Who's
market manipulations has robb-
ed them of millions of dollars
profit on this crop is not haysl to
understand. The poorer, the
more helpless, has bee1squeezet
out and forced 10 part with his
saon BeIow the cost of propuc.
ton. This has already beer
fed to the creedv-bear.
Two years ago Messrs Brown
Havne, Scales and others We're
charged With maintaining
pool to hold up the price of cot
ton, the Attorney General of tn,
United States had them indicte,