The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1914-04-10
SENATOR HoKE SMITH
ON COTTON GAMBLING.
Continued from Page 2.

the opportunity to force down the
prices lid for cotton on the exchange
almost at their pleasure, for the sell
ers we'll know that buyers can not af-
ford to take under their system what
they offer. The immense quantity OF
their sales, with their facility for ad-
vertising the selling prices all over
the country. tend to. force actual
prices down and thereby injure the
men who raise lint cotton. The prices
are made fictitiously to rise and fall.
thereby injuring all who handle cot
ton, the manufacturer as we'll as the
cotton grower.
Time to Suppress II.
1.-THE time has come when this In
stitution as now conducted should be
suppressed. unless it can be forced to
adopt honest methods 1t is no more
entitled to the use of tho mails and
the telegraph lines under Its business
as now conducted than was the lot
terry, the exclusion of the business OF
which from the mails was sustained
by the Supreme Court of the United
States.
ut is the organized enemy of cotton
growers and cotton manufacturers,
manipulating prices of the raw mate
rails which the the one manufactures
and which the other grows.
"A few years ago, suffering from
the effect OF the evil conduct of this
or that organized enemy, certain cot
ton buyers and cotton manufacturers
united together and determined to
buy and require delivered to them all
the cotton held by the New York Ex-
change They made an agreement
that they would buy and distribute
among themselves the cotton, agree
ing further that neither of those in the
compact would resell the cotton SO
that it could be used in the gambling
marts of the New York Exchange.
| The organization was made In self
| defense against a wicked enemy
which by unfair means was attacking
and breaking down their legitimate
business This organization should
have been commended by honest men
who believe In n square deal, and yet
under the direction of the department
of justice these men engaged in a pa
guilty of an Illegal conspiracy and
we're indicted for alleged violations Of
the Sherman antitrust act.
/ Must Reform or Quit.
To-day If body Of men, manufac-
turers and cotton merchants would
join together and mako a similar
agreement and take UP all the junk
called cotton on the New York lex
change, agreeing not to resell any of
1t through any exchange and thereby
arrest the work of the men who have
been manipulating cotton for the past
few months to the injury Of the pub
lie, they should be commended for
their service mora than any organlza-
ton of private citizens who would in
wade den of gamblers.
Il would be glad to see the ex.
changes continue in legitimate bust
ness. | would be glad to see them
continue with their unfair system
eliminated. But, IL this cant be done
then better destroy them than to al
low a continuation of their unfair
methods. If they can be made to de
liver cotton covered by government
Standardization and deliver 1t prompt
| ly, with no strings tied to the mode OF
delivery to deprive the purchaser OF
his just rights. then with their gamb
ling methods brought to an end they
would be Of real value.
I'VE will try them now with an eff
fort to regulate, but they should un
derstand that forbearance has about
ceased. There is way to stop them
entirely, and unless they help purify
their own house and bring 1t to con
dition of decent and legitimate bust
ness, the next movement against them
will be to terminate them"
The bill was passed.