The Anderson daily intelligencer. [volume] (Anderson, S.C.) 1914-1915, 1914-03-20
SIGNAL VICTORY
FOR THE. SOUTH
SMITH EXULTS IN NEW YORK
EXCHANGE. PLAN j..
WILL PUSH. HIS BILL
Von't: Allow Long Distance Con-
cession, to Prevent Him From
Going Ahead
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WaShlpBtOn, MARCH t9.--'ThtS Is the
most signal victory won by advocates
OF fair dealing for the cotton farmers
| OF the South yet achieved" said Sena-
TOR Smith of South Carolina when he
| was, shown the statement from New
York that the cotton exchange of that
metropolis. had adopted resolutions
making the government standard type
| OF cotton, the basis for trading after
A;;s.!: = ;;s.: iGia. nut senator Simth de-
clared that the adoption OF the reso-
luton will not in any way affect him
sn rushing through congress his bill
which would force the New Yark bro
kers to begin new methods OF deal
sn5 AZ n uiuCh earlier. daIe.
up to the. present, New York has
| rad 20 0f, more Grades" said Mr..
Smith. All of these represent an
arbitrary and fictitstious difference in
values, which of : course, was detPi-,
mental TO the farmers. The adoption,
loff these grades asi being, the only
ones deliverable upon contract will
lgo far towards making, the. quotations
| froi b the New York exchange. in limo
iw.sf the real value OF spot cotton, if'
GheS strictly adhere to the real Wall
Ika OF the grades, This means that
Y; sIiie { nine grades are adopted, and
these alone axe tender Bile under COM
| lt5att5 for the future delivery 6f cot
iedns and the fixed difference between
the grades is eliminated and the real
lSpinning vsiue Of. the. grades are To
be found by the department OF agricul-.
tture under. the provisions Of my
aniendment to the last agricultural
appropriation bpl that the farmers
Iyeill be guaranteed fair and Just
Ipriee for cotton. ,.as.3
| Bowed 20 Inevitable
81 feel that tbis Is ain achievement
!hrnnght about By the fact that New;
/ York exchange sa-s:- .hE Inevitable and
bowed to H.: ! am perfectly confident
that my bill now pending will pass,
md I am glad that the New YorR ex-
lnhRnge has made II easier for 1t to
lpagg in that they have ut least recog[
nised one feature OF the bill, viz. that
the government Standardization, shall
be recognized by the exchanges OF the
country. Now the other propositions
THAT the iexchangeA shall not have a
fixed. difference, or o deceptive COM
lnerciaI difference. but shall. have a
| diffeF ences based entirely upon the
lreat asceftainetl spinninE yainess OF
the aiseret1t grades IL cared for also
IN the bin which have pending. Il
lam certain that the finding of the. de-
partmant OF agriculture as to the
lapinninE values OF the government
Istapdatd sgTades has been largely, 10
mot entirely resronsible for the ac-
tipn Of the New YORK market, because
In the light of the startling facts which
that test proves as fe the small diff
lfeFence in value OF the different
ierades, no exchange could hope TO ex-
tist which had the absurd difference
now obtaining.
i 4 VIII Push ,Bill,
The New York exchange makes this
new grade delivery eectiye Aufii /,
I19l5. This shall not deter me from
| forcing with all the igor at my cont
mAna the, nassa Sc sss E.iy Bill EzsSTei ssS5
tearIiest pos isjle moment and the NIT.
1 ting OF &c into q feet imnedla lately upon
IIits pasaa9e svFSilt t3 save to the
1 farmers TIE saiaace 6f this crop at
4 Q better krLcss and uarRntaa 70 them
/ lif Il IS possi Bic, d astar price for the
lesns soon To- be planted.
II sS'EIere IS no reaAon why the New
/ York cotton exehange should recofn-
tplend the Sslpution of tlls mine: pi0rS
teFnment and NJ slsy n wear heEee. la7l-
/ less II ne that flIe have 81 "a eatas
II mi 81 saef.la Z to the deIiv6 az
such D 0llaf ~ es sssatt tenS u Z. siicIi
I Iprgees tIiat FseS n y never hope t0
i eseafis alla nc tessl2f fk6w ssil tir flsy
i hill now s5n l. sicnl - daf ana press
4 tt ito g
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