The Pickens sentinel. [volume] (Pickens, S.C.) 1871-1903, 1890-03-13
A LITTLE FINANCE.
A STRONG LETTER FROM ANEx-
PERIENCED FARMER.


Raets aud FignreB TO shsw How tho ALL.
aRco hay successfully Meet tho Issucs
Ebefore IL.
The following letter will be read
with interest:
Mr.. Il. A. Meares, Secretary of the
Farmers Alliance, Ridgsway, 8. c.
Dear Sir: Your letter to hand. Re-
plying 1 will say that the true policy
of our Alliance is to borrow money.
With the cash in hand, or in bank
rather, all things are perfectly plain.
The farmer knows what he is doing,
and the party with whom he trades
also understand the status of affairs
and will otter much better terms.
Compare this plan with the old wey.
We will suppose that reasonable es-
innate for tho necessities of any par
hcular Alliance has been made, that
the members have, after deliberation
and consultation with each other.
agreed upon the minimum amounts
requisite to carry them through the
season. These individual items ag-
gregated, we will say amount to
5000.
Now let us compare $1,000 in cash
as against $4,000 in the old way. The
interest on $4,000 from, say, the 1st
of March to the 18th of November. at
~ per cent, would be in round num-
10 L,l
range Tor the payment of at least 4
cent. interest on the money Jvirp o idle.
or on deposit, for it is of course con.
templated that there will be onlv
monthly drawings, consequently the
interest account would be greatly re.
duced, and, in fact, not rate higher
than per cont. theoretically.
think 1t perhaps not unreasonable to
say that in the past or by the old plan
the interest charged on merchandise
was eO per cent; on $4,000 in gooda,
therefore, the interest account would
De $2,oOO. The plan now proposed is
10 nave ourown agents and exchanges.
therepy purchasing cheaper and dis
pensing with middlemen as far as prac-
tcable to enable our people to secure
supplies at greatly reduced prices
inns palnihaseverything to recommend
IL TO those who are able to take caro
OF themselves and furnish the cash
but unfortunately many of our best
people handle no spare monev. and
although they are members Of tho
order are practically outsiders as fur
as relates to substantial advnutaye,
Ia tact they are worse than outsiders,
Tor they are called upon to pay fees
and dues as well as tax themgejyos
with cotton bagging, etc, etc. really
Tor the benefit Of his more Fortunate
Drethren. Now, SIR we live in Il prac
tcal, materialistic and utilitarian age
fancy theories and grand air castles,
% Chey never so artistically built, will
not satisfy the wants ofa hungry poo
pie nor furnish abodes for those who
are ever without change to be driven
from substantial homes and made ton
ants upon the lands OF their fathers,
But,replies one of our public speakers
the merchants will be glad to hayo the
trade of any of the Alliances, and to
secure 1t viii be willing to furnish all
alike, both those who can give bomb
proof papers and those who can give
SIMPLY s henS upon their; crop, and it is
recipients of the benefits of tue
soheme. This theory is very fine, but
What ale the facts? The merchants
themselves, so far from being anxious
lor thls trade, actually decline the
Proposltlon and insist upon papors
upon when they can borrow the mon
11y "heIeWlth to run the business, and
lhtehd no criticism upon the mer-
cnant, Tor, IN my opinion, it would BE
" very poor business man who would
use hls own capital where the risks
were 30 great and the margins so
small. e'''' ''
put the difficulty is not only in the
refusal OF the merchants, for most of |
the Alliances submitting propositions
lor 7uppiles nave made exceptions
many OF those who were able TO oet
along without assistance upon the nlen |
that they had already arranged for
Che year. This was euuiyqlent to snv.
ing, We wish you to furnish the mht.
1ul portion of our Alliance, but those |
ol us VINO oan be made to pay propose |
10 trade where we please. 1t is readily
10 be seen that there is nothing. abao,
lutely nothing, in this grand theory |
upon which all tho organizers of Ali. |
ances dwelt 80 eloquently in the begin
nlng, claiming it, in fact, as the Vnrv
keystone OF this grand arch about to |
De erected.
We have now reached two conclu-
sions:
First, that the plan of selecting |
agents, establishing warehouses, ok
changes, etc, ETC., all based upon q
cash idea, is most tadmirablea arranoe.
ment for the moneyed mon, but ofIers
no Immediate advantage to the in.
pecnnlous. III were attacking the
Alliance idea would say it wnc y fine
SCI ''eme ITO m AXE the rich richor nnG
the poor poorer" Our second concm.
sion demonstrates fully the utter follv
OF offering our trade upon the conso,
hdation idea, |. g., haYing merchants
compete for our whole trade, select
ing that one who offered the lowest
per cont. on cash price. As l said Be-
fore, the farmers themselves have
wisely abandoned this plan. snv
wisely, because any one who proposes |
to effect loans, either in money or |
supplies, at rate Of not less than 25 |
per sent, to be met by earnings from
q business-like farming which does
not pay one-fourth of tho amount
acts foolishly in his individual CAPACITY
and Injuries his neighbor who Is on