Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1890-11-27
Iet as see i tho facts dc no bsss


Let us see If the facts doSnot bsar,
us out in claiming sthssS your commits
tee acted wisely in reaching their.
conclusion. While your State Tx
change may not need knysSiafga
amountiof money to q ss bs,sineas.
y6J AZ the aapeeastjma il. lis very necs
essary thaS it should have q money
credit!at its command and likewise
have q business rating in the COM
mercial world.
The solution of these two 5ques-
lions will be very simple aud easy,
when IT becomesa known f~actgthat
this Exchange owns 100000 of the
capital stock Of a properly and ably
conducted State bank; that it did,
in the first so7Sa months Of its exist
enoe, a cash brsiness Of over $100,-
600 without the loss Of oEa.tcmth. Of
1 per cent,
Our farmers are sometimes slow to
catch on, 80 Twill take the liberty of
mentioning a fact that occurred
with our State Exchange the past
season, which is illustrative. When
the State Alliance met in July last
and tho matterof bagging was taken
up Mr.. Donaldson, the State Agent,
announced that he had a proposition
for 100000 yards of sugar sack bag
ging at Q low figure, one-half to be
paid cash, the other in thirty days;
the offer WAC accepted. Suddenly,
without notice, the agent who sold
the goode to Mr.. Donaldson informed
him that "his people" would not full
ill the contract without the entire
bill was paid cash. / need not go
into details here as to why his party
acted in this manner; it is enough
for us to consider that here was
some thirty odd thousand dollars to
be raised at short notice or q good
trade lost.
Mr.. Donaldson through his per-
sonal credit and with the kind assist
ance of some of his banking friends,
was enabled to carry the amount and
hold the trade. Had MIR. Donaldson
at that time represented 100000 of
the capital Of one of the banks in
the CITY of Greenville there never
would have been a question raised
about the trade.
l don't suppose any one is simple
enough to imagine that the bank is
to do the entire business of the ALI
ance, or that it will work any great
revolution in the mode, manner or
terms on which an Alliance man will
got monetary assistance r#'hhen needed.
Your money is to be put in this
bank to make money for you as other
banks make it. 1t will help you
very directly and materially through
your State Exchange, and Indirectly
in a healthy influence over other
such institutions. Does it not occur
to you that if your business, agent
without carrying q dollars worth of
stock, has saved you thousands OF
dollars in a business way, that a
bank owned and controlled largely
by you, collectively or individually,
may aid you much in a financial
way? 5
The education and life of our
farmer leads him to look at things
not in the abstract, but always in the
concrete form. If you tell him any
thing he has got to SEQ the result
right there and then; if you show
him anything and don't allow him to
put his own hand on it at once he
Immediately becomes a doubling
Thomas.
AS I was asked to give some in
formation relating to the work of the
State Exchange, here is a fact tan
gent to every member of the ALI
ance.. Your agent bought not only
the 100000 yards Of bagging above
referred TO, but this purchase was
supplemented by further orders
amounting to 100000 yards more,
making a total of 100000 yards, and
this at a saving Of &c. per yard to the
consumers. This one transaction
saved to the Alliance members the
sum of $4,000 and more than this
amount to those who are not mem-
bers of the Alliance, but who pro-
duce cotton. Your action fixed the
price of bagging; you made the sac
rifice, they enjoyed the reward.
The work # your State Exchange
is to make th~ best business arrange
ments possible for all such heavy ar
ticles as do not have to be kept in
stock and that you should purchase
from first hands, viz, bagging and
ties, guanos, vehicles, machines and
machinery, etc; but when it comes
to a regular line of merchandise let
our merchants carry the stock, let
them have the invested capital, crea-
ting that competition which is the
life of all trade. 1t is their business,
they have spent their lives to learn
it, and they will beat an untried and
inexperienced man every time.
Your State Exchange will be the
Waterman on the tower, to inform
you when and where you can pur-
chase to the best advantage. 1 re-
peat what I have said in q former
communication, and I believe + voice
the sentiment of your entire commit
tee when I say they do not cham
pion a scheme that aims at the de-
struction or ruin of the legitimate
mercantile business of the country.
Your Exchange intends to keep you
informed and protect you from i'm
positions and all kinds of extortions.
We desire to trade with orr own