Business & Finance: Conversations About Cotton

A little more than a year ago the cotton market took a terrific one-day tumble. Prices dropped nearly $10 per bale in a few hours. Among the many to whom the "March 11th" break caused deep anguish was South Carolina's Senator Ellison DuRant Smith, self-appointed chamberlain to King Cotton. Forthwith, "Cotton Ed" Smith started an investigation which did not make the front page until a year later.

Ponderous Senator Smith has sat in his well-whittled seat longer than any other man in the Senate except William Edgar Borah. He keeps a quid of tobacco...

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