Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-02-03
MORE ABOUT COTTON.

Representative Hefn, Of Alabama, speaking for
group OF Congressional leaders the Southern states
who had just held meeting to consider the cotton
problem said Saturday in Washington;
"As soon as the peace treaty is signed-whieh
think will be in about six weekscotton will in all prop
ability go to 40 cents pound BY the end of August
there will not be bale of cotton left in the United
States"
Mr.. Hehin. who is usually fell-informed man. and
fighter to the last ditch throws whole barrel of eour
age into the cotton holder by his words, but
Something besides holding will have to be done if the
farmer is to realize such reseate ending to his period
of misgivings, and waiting
First he must so cut his next crop acreage as to
drive through the obstinate heads of the cotton bears
that there will be sureenough cotton shortage next
season-shorage enough insure profitable price for
every bale grown in America.
Second, Congress MUST enact legislation effectively
curbing the cotton gambler
The acreage reduction movement has suddenly
sumed gigantic proportions throughout the cotton belt
and it begins appear though the farmer who
before could be trusted his acreage he always
pectng the other fellow himself to reap the
profit from increased acreage has at last determined to do
what being shown he MUST do to save himself The
Atlanta Georgian today publishes page spread editorial
advocating the cotton acreage cut that will doubtless do
much to forward the movement
The Atlanta Constitution gets down to bed rock and
good sense in the gambling question in the fol-
lowing editorial:
When all is said and done, gambling is the root
of most of the cotton market evils.
The Liverpool cotton exchange has adopted
rule effective February l. limiting the grades of cot
ton to be handled on the exchange to five which can
be rendered delivered on contract
II Liverpool recognizes the Importance of MAX
ing only legitimate cotton contracts why should not
America do likewise;
With such law in force the spinner or the
dealer in spots, could hedge sales in futures and be
assured that in the event of his inability to procure
actual cotton at the time he could receive on his
future or hedge" such cotton as needed and that
could be spun, and not lot of low grades or off
grades, which nobody wants
AS it is now, with cotton gamblers enjoying full
sway, spinner go into the great American
cotton exchanges and negotiate forward contract
with any assurance whatsoever that he will get on it
cotton that can be spun; whereas if the sellers of
future contracts knew that they would be compel
led to deliver good, spinnabIe cotton and that the
holders of contracts would be protected in demanding
spinnable cotton-and would pay for nothing other
than such cotton-there would be more care exer-
cised in selling futures
The jobber, the spinner and the planter all
would be mutually protected and immeasurabIy
benefited
Cotton exchanges profess to be clearing bonses
for the movement of cotton, and, of course. the fu
ture contracts be legtmately used for a num
Der of purposes but the abuses OF future contracts
as are now permitted demoralize the whole cotton
market They entail losses to the producer of acual
cotton well the handler and the spinner Of If
and they vastly outweigh the proper uses of the
principle
Those abuses and should be corrected; and
Congress has it within its power to correct them
The cotton market today under the law of sup
ply and demand, should be brisk, healthy stable
promising
There is shortage of supply almost every
where except in this country Stocks of cotton
in Iverpool-a million bales below last year at this