The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1914-03-11

record where the quotations for fu-
ture contracts basis middling' quoted
'middling' from $3.50 to SO pc: bale.
lower than spot n1iddling' could be.
bought-that is, the ac' lal spot cot.
ton out Of the warehouse in New
York.
Therefore. the complaint Of the.
farmers was just and righteous. AS.
the commissioner of commerce and
labor said in his repcz., there weres
few who understood the nature Of
a contract and could possibly govern
themselves so as not to sustain Sc
rious loss, but the rank and file OF
the small farmers of the country who
were dependent upon the local buyer
for their prices were mercilessly
feeced. Thse local buyers, of course,
would pay them for their 'middling'.
cotton according to the future quota!
tions Of 'middling' cotton the the New
York exchange.
"At the second session Of the Sixty
first congress an appropriation OF
s36,650 was made for the establish
ment Of standards for. .,.the different
grades of cotton. This resulted in.
the establishment by the government
Of nine official grades, viz, good ordi-
nary strict good ordinary low mid
ding strict low middling,' mid
ding strict middling,' good mid
ding strict good middling' and
'middling fair These grades were
made with reference to the color and
foreign matter; OF the cotton-".-
The bill which this report accom-
panies, after being carefully review
ed by the committee on agriculture
OF the Senate, recommends to con-
gress that the mail, telegraph and all.
services used for the transmission Of
news shall be denied to any party,
corporation, association or individual
who does not specify the specific
grade being sold and the price at
which such specific grade is being
sold, the date of delivery, and such
grade or grades as are contracted for
and that the delivery shall be &C
cording to the government standard
ization. This bill would eliminate
the matter complained Of above
basis contract and the fixed differ
ence.
Some doubt has arisen as to
whether or not the federal govern
ment has the power to determine the
nature Of any contract entered into
and technically complied with, wholly
within a particular State, but there
can be no doubt that the means OF In
terstate communication may be de-
MED parties when it is demonstrated
that such contract is not in accord
ance with honesty and fair dealing.
It is but fair to state that since the
introduction of the bill which this re-
port accompanies a very startling
revelation has been made by the de-
partment .ot agriculture, under the
term Of q Senate amendment to the
agricultural appropriation bill during
the last session. This amendment
appropriated $4,000 to test the spin
ming values Of the different grades Of
cotton standardized by the govern
ment, so as to ascertain the real, COM
mercial, intrinsic values Of the differ
ent grades.
This has just been completed by
the department Of agriculture and
samples Of the results are available.
The result of this investigation re-
veals the fact that the difference be-
tween the grades from good ordi-
nary" to "middling fair, which ex-
tremes comprise the nine grades
standardized by the government, Is
practically negligible. Hence, 1t ap-.
pears that no great losses would be
sustained by the producers Of cotton
IL. the cotton exchanges were to be
limited in their deliveries to the gov
ernment standards, and the prices OF
the different grades made to conform
to the spinning values Of the Differ
ent grades as determined by the OIL
cial tests above referred to. In this
bill they are limited to the speclnc
grades
1t is the opinion Of the committee
that this bill should pass, according
to the findings of the department OF
agriculture and the tests above re-
ierred to, the evils complained OF Will
be eliminated. It is the opinion OK
the committee also that the passage
of this bill vi, ultimately force the
exchanges to accept the government
Standardization and to acknowledge
that the fictitious differences as tney
have heretofore fixed them between
the several grades are unwarranted
and unreal.