It’s not secret that cotton has always been a huge industry in the southern United States. The Cotton Museum at the Memphis
Cotton Exchange pays tribute to its colorful history and growth within the city of Memphis. The mission is to enlighten guests about what could be a drab subject. Cotton was a commodity crop that built the wealth of Memphis for decades. The money made from the exchange of cotton in those days helped to revitalize the city in ways no one could have imagined.
The Memphis Cotton Exchange opened its doors in the early 1920s and, according to rumor, the trading floor used to be quite the wild place. Only the most elite members were allowed entry at that time. It’s been said that when trading would wind down for the day, members played lots of dominos and smoked cigars. Step inside and be transported back to a time when cotton as valuable as gold.
In the late 1870s, the Memphis Cotton Exchange was founded. There was an abundance of cotton and the market was growing. Cotton trade was extremely strong after the American Civil War. At the time, cotton merchants recognized the demand and decided to develop a trade organization to regulate Memphis’ cotton marketing. They set rules and regulations, as well as a cotton grading system. For a brief time, the Cotton Exchange was housed in the Exchange Building on North Second Street. Cotton and merchant exchanges were both there, but with the decline of the exchanges in the late 20th century and a diversified economy, they decided to separate their locations.
You’ll see a plethora of multimedia when you enter the museum. Pay special attention to the vintage phone booths and watch special oral histories from people who were involved in the cotton business. Be sure to ask about a guided tour as well. Don’t miss the opportunity to learn about the people who built Memphis into a major center of commerce.
Photo “Cotton_Exchange_Building_Memphis_TN.jpg” by Thomas R Machnitzki is licensed under CC BY-SA 3.0
Photo “Cotton_Museum_Memphis_TN_1.jpg” by Thomas R Machnitzki is licensed under CC BY-SA 3.0
