Protectionist Volume 17 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1906 Excerpt: ...of the greatest menaces to the cotton manufacturing trade, and it is his opinion that if this variation is removed, all the grounds for complaint that growers and manufacturers now have against the speculators will go with it. Manufacturers will generally agree that the realization of both, or either, of these schemes would be a benefit to the industry, but there are few who will approve of all of the premises or conclusions of these two speakers. Those, in particular, who buy wool, or who are conversant with conditions ruling in the world's markets for this raw material, will be inclined to doubt that the cotton option markets are a necessary evil. They realize, however, that it is a much easier and more possible task to so regulate speculation that the frequency and magnitude of fluctuations may be minimized than it would be to attempt to fix cotton prices by cooperating with the growers. They can understand that such co-operation would materially strengthen the position of the later as sellers, and the record of the Southern Cotton Association is such as to indicate that it would not hesitate to take advantage of such an opportunity. Secretary Cheatham says that "they will insist upon a price for cotton that is alike fair and just to both the spinner and the producer." At their recent meeting the price fixed upon was a minimum, of eleven cents. Manufacturers naturally conclude that this is the price that the growers, or those who are members of the association, consider "fair and just" to the spinner, and they are not stimulated to co-operate upon any such basis. Much good, however, cannot fail to come from a thorough ventilation of these diverse views, and it is possible that growers, spinners, and even speculators, may find common g...