226 COTTON 



annual reward. In practice it goes further and not 

 only grants this on its real investment, but includes 

 dividends on a fictitious, watered capital as well. 



Take the trust. It secures not only its legitimate 

 share of the water at the top of the hill, but through 

 all sorts of schemes and tricks secures a great deal 

 more. 



Take the man in exchange or in business. He 

 meets with his fellow workers; he organizes and 

 plans that competition may be met; that he may 

 thus secure his share of water, and further that his 

 share shall be protected for all future years. 



Then take the farmer the cotton farmer. He 

 meets not with his fellows; he organizes not; he 

 goes to the top of the hill alone; his part of the road 

 is roughest of all; and when he gets there he is 

 alone; it is dark and only with difficulty does he find 

 water. At other times so many others are at the 

 source of supply, and so well organized, that they 

 crowd him back and away. 



So he takes what is offered and returns on his 

 homeward journey. 



Going still further with our nonsense verse, we 

 also discover that "Jack fell down and broke his 

 crown, and Jill she tumbled after." 



And here is the danger place in cotton produc- 

 tion: the crop is produced, too much goes on the 

 market all at once, or the market is manipulated, 

 and over it goes. Jack fell and broke his crown. 

 How many cotton farmers, think you, are ruined, 

 because the cost of production the trip up the 

 hill is more than the market place gives them ? 



But there is more to our story yet: When Jack 

 fell down, "Jill came tumbling after." When 

 cotton goes down, not only that man whose crop 

 costs more than he secured for it is injured, but 



