Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-07-06
ALL KNOW
WHAT COTTON
GROWERS NEED
Senator Clarke and Steamship
Lines Are Busy Regulating the
South's Great Industry.
BY M. A. ROSE,

NeNt 10 corporation Daltlng I'M
doubtedly the most popular amuse-
ment Of the genus reform is regulat-
ing the cotton industry.
The Southern farmer is held up TO
ridicule as the most incompetent Of
all the tillers of the soil Even the
Egyptian fellaheen can give him
pointers, these reformers assure US.
Either the American cotton grower
plants too much or he plants too lit
tie, according to who is talking at
the particular moment when you are
listening. Then the English spinner
takes whirl at him. He accuses
the Georgia darby of deliberately
wetting the inside OF his bales to
make weight. The cotton grower has
no business sense. he gives himself
into the clutches Of the supply mer-
chant, ard he sells his product at the
bottom resting place Of prices. He is
oriminally careless in baling and
marking In brief. he does everything
wrong.
living. which is more than can be
said for come of his most vigorous
critics.
Another Good Target.
Disposing of the farmer in this un-
answerable style, the critic turns to
the dealer in futures. Here is a bird
Of prey" a fine target! Congress went
20 h.
clique. The bulls were trying to boost
cotton prices. Plainly this was a
crime The bears" who were trying
to depress prices, escaped unremarked
The very latest is the Clarke
amendment TO the tariff. which would
tax cotton futures contracts, entered
into under the rules of any cotton
exchange.
Cotton men Just now are issuirg
broadsides declaring that this is de
signed to put every exchange out of
business. The elaborate machinery
which has been built up for report
ing crop conditions, and which makes
1t possible for Liverpool to learn in
Ave minutes time the arrival of a
tiny bug in single American county
all VIII be destroyed.
How Exchanges Help.
Now, every cotton farmer who cares
knows within a few minutes what
price Liverpool, New York and New
Orleans are paying for his crop. De-
stroy the exchanges and he will be at
the mercy of those who can afford to
maintain private news service. Fur
thermore, say the cotton men, instead
OF destroying speculation, such a bill
will have the exactly opposite effect
OF making the spot business, now sta
Ia VI m ~ I'd
will not be able to sell contracts
against his purchases of the actual.
He will have 10 shave three or four
cents from his price to ward against
possible declines.
All this is a lUgubrious picture.
Perhaps II Is overdrawn. II may be
that once tax on cotton futures con-
tracts Is made a law the traders will
And themselves not so crippled as
they now believe. Everyone remem-
bers what prophecies of calamity
greeted the first news of a slash in
the tariff and how they have quieted
now that reductions are seen to be
inevitable and wailing useless.
The fact remains that while no
doubt there is a certain amount of
manipulation in the cotton rings, still
the exchanges fill a very real need.
They are necessary. They help the
cotton farmer far more than they hurt
him. They should not be harassed or
hampered
Clarke Not Alone.
But Senator Clarke, who, like many
other strange things. comes from Ar
kansas, is not the only one taking a
whack" at the cotton industry these
days.
The steamship men, whose impos-
sible structures on the shipment Of
cotton have been explained in this
column, appear to be inexora BILE.
September /, without fail, they will
put their new rules into effect, they
say Seeing that the deadlock is Sc
rious, the Georgia Bankers Associa-
ton is sending out an open letter to
farmers, ginncrs, cotton seed oil mills,
cotton exporters and cotton com
presses. The letter gives notice that
September ] the steamships will begin
TO mark through bills of lading with
notices OF bad condition. The bank
ers offieially give warning that bills
80 marked will be unacceptable, and
il viii be impossible for the exporter
or buyer to draw through New York
or other centers for the value of the
cotton.
Eventually this agitation against
careless handling of the crop will
work out into good. But the high
handed method of reform attempted
by the steamship combine can result
in nothing but hardship for several
seasons.
And, of course the farmer will be
the "scapegoat."