Bremen Cotton Exchange, 1872/1922

by Andreas Wilhelm Cramer

A New-York commission agent, who has connections all over the world, receives a telephonic message from Texas to sell 100 bales of "futures". At the same moment, he receives a cable to buy a 100 bales of "futures", both orders equalize each other, the execution is easy, a few words on the telephone, a cable, a letter, and the business is done. Such transactions are daily occurrences, they leave no particular impression, nor call for any deep thought. And yet, it is very interesting to probe deeply to find the origin of this business. A planter in Texas has worked hard for six months with his entire family, to raise his cotton crop. In the early days of Spring, the ground had to be cleared and ploughed to prepare it for the seed. Then comes the time of sowing, and soon afterwards, the weeds require attention. Hardly have these been uprooted, when the injurious insects make their appearance, they are destroyed by artificial means. Over and over again, the fields require most careful attention, till, at last, the cotton begins to ripen. In the broiling sun it is picked, and only then, the planter is sure about the out-turn of his crop. The prices are favorable at the moment, and he makes his calculations. For extra help, he had spent so much, and for the frugal life of his family and himself, a further amount was required, but the account was all right. If he could obtain the present price for cotton, he could pay for everything, and have a margin to the good. He decided to secure the price by giving the afore-mentioned order.

In the family of a landed proprietor in Hungary, was joyful excitement, the daughter of the house had become engaged to be married. The wedding was to take place soon, and the question of the trousseau was discussed. This, resulted in a visit to a merchant in a neighbouring town, who discovered that his stocks had run too low for the reputation of his business; at once, he gave a commission to the wholesale merchant, who, in turn, sent a considerable order to the manufacturer. Thus it goes on, till finally, the mill that spins the yarn, buys the cotton in Bremen, where the merchant cables New-York, to cover the "futures". The business, so unconcernedly done in New-York, had deep lying reasons, which never came within the vision of the commission agent. In a similar manner, the world's transactions are governed. We do not look beyond our own particular horizon, we take what the minutes bring us, without troubling our sluggish mind for the "whys" and "wherefores". Nothing, however, is done in the world's eternal circle, without cause and effect. Should our mental capacity be able to grasp every transaction in its entirety, we should see, that a never ending thread connects all of us who live and work.

When the thread is broken, disorder and confusion replace the organisation, that is as finely balanced as the delicate works of a clock, and endless trouble is required to piece the thread together again.

CONCLUSION.

The jubilee of the "Bremen Cotton Exchange" takes place at a time, when all economic conditions are in dire confusion. Never before, was the economic life, embracing all countries, so finely spun, as in our modern times, and now, the net is torn in untold places. The old Europe, predominant for over two thousand years in all spheres, lies bleeding from serious wounds, and the question is, what part will it play in the future, what will be its fate? Finally lost is the dominant position in the region of Finance. No longer does it reap the interests and means, which originated from the economic assistance it gave to countries in other parts of the globe. On the contrary, Europe, itself, has to pay interests, and within Europe, between the different countries, obstructions and impediments are heaped upon each other, to surmount them, is a work for "giants"! The only consolation is, that it is not the first time that Europe and our own Germany were in sore distress. In all previous cases, it recuperated, and rose, like a Phoenix, from the rejuvenating fire. The plague and other dread epidemics have devastated towns and countries, wars have destroyed peoples and their culture. Final ruin we see, only in cases, where discord and lack of reason have permanently come to reign.

The continued depreciation of currency in the affected countries, is one of the causes of the many grievances. No remedy has yet been discovered for it, but it must be apparent to everybody, that the most precious treasure possessed by man, is not GOLD, but "WORK"!

Work alone, however, is not in all circumstances a protection against misery. The possibility must exist to use it correctly in exchange for other goods. The overthrow of all to which we have been accustomed, is likely to cloud our vision, but, ultimately, we have to acknowledge that men and nations depend upon each other, and that, in the exchange of our earthly goods, life and the pleasures of life can be found for each individual.

Amidst all this oppression and tribulation, it is a blessing to be able to look back upon a successful past. This privilege, however, has stern duties: to keep up the traditions of the past, to adhere to the approved fundamental principles, to regain the lost, to strive and build up afresh.