Hide Article Text (OCR)
The land, though fertile and capableof anything, they have been taught tobelieve is worth nothing, except forcotton raising. Thus they are made dependent uptn the cotton brokers, and being so, cannot rise superior. flt;and ischeap—worth almost nothing. Cottonis the only commodity the farmers can•ell, and the brokers, who are leaguedtogether, never pay cash in its purchaseNor do they wait for the crop to begathered before buying. They gratify agambling propensity among the ignorantpopulation by buying the probable crop, even before the reed is in the ground.No,,they do not buy it, but they accepta chattel mortgage upon it, end give thefkrtner store orders. These cannot berealised upon at once. Onee the termergives th*mortgage, end he iedependentupon tbi nisfay of the merchant, ifrfcodoles him out apppj|ee just as he sees flu▲a the season, edvpnees, should the croppromise lioorlt, orders for merchandise arenothonotid/and the firmer can donotblpg, unless bqplungas dcaper Intothe mire, by selling futures.But thia is not the vtoret. ' The wholemdftg^ge system is bkd enough. Theinterest is what takpe away the last vertigo of liberty. Each document drawsinterest, it the rate of forty per cent, deducted in id vance from the merchandiseorders given in exchange for the mortgage. Think of it! Forty per cent I And this rate of intereet is moderate towhat has been the rule. Two years agoit was sixty per ceut! In despair a secret organisation was formed, called the“Wheelers” and through its instrumentality the reduction was effected. To hear Porter tell the facts that came within his knowledge makes one raise hisbands in wonderment ami ask, is thereno Northern man, with a sense of justiceas well as a sense of business, who willgo there and trade with these oppressed small farmers.
Newspaper Details
Massillon Daily Independent
Massillon, Ohio, US
Sat, Jan 28, 1888
Page 1
Full Page
Clipped by
Massillon P.
OH, USA 14 Feb 2023
Other Publications Near Massillon, Ohio
Massillon Daily Independent
Massillon Item
Massillon News
Massillon Independent
Evening Independent
