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Show SPECULATION IN FUTURES. From tho New York Herald. Referring to tho rise In cotton and its disturbing effect upon the spinning industry, in-dustry, the Textile Manufacturers' Journal In its Issue of Saturday denounces denoun-ces the speculation as "Immoral and unhealthy," un-healthy," and says the way to put a stop to It is to "make the selling of futures fu-tures illegal." That suggestion has been made in many quarters of late, but It is somewhat some-what surprising to find It advocated by a technical publication like the Journal. The remedy, if it could be applied, would be worse than tho disease. "Corners" "Cor-ners" and extremely fictitious movements move-ments occur but occasionally and usually end by ruining those who eih glneer them. On the other hand, normal speculative operations help both the producer and the spinner or other legitimate consumer of a product by minimizing fluctuations and by providing them with a broad and uninterrupted market. Gormany's attempt to stop trading In futures has been a dismal failure and has Injured all parties in Interest. |