The Pickens sentinel. [volume] (Pickens, S.C.) 1871-1903, 1890-03-13

suppIl9S, As por tho now arranronent.
at Z6 per cent, would net the Alliance
$500, but this plan has been shown
10 Do lmpracticable. We must, there
lore, consider the old lion and mort.
gage IDEA with its 80 per cent. premium.
here we would have $1,000 netting
$1,000, and tits with the latter amount
That L propose to compare the cash
basis or money borrowing plain. Five
Thousand dollars for nine months-the
same tlme as computed in above ex-
ample-would at 10per cent. discount,
net "a, 626. We now have 1925 against
I,ooo, or saving to each Alliance of
$%,l2o. But with o rebate Of 4 per
cent: on the amount not drawn we
would theore .ically be paying per
cent, but really about pea cont. We
are now entitled to new calculation.
Five thousand dollars at per cent
tor nine months would be So instead of
1915 and hence the exact amount
save1 would be tho difference be-
tween $4,000 and $4,000, which is 81
200. w.
apprehend, therefore, that YOU will
nave little difficulty in reaching the
conclusion that it is better to borrow
the money Than to attempt to utilize
either Of the plans outlined ia the
general Alliance scheme.
1t mas been very wisely suggested by
some one that before you could pre-
pare mare soup it was necessary to
catch the hare. This paraphraao sug.
geStS Chat before you borrow money il
would De we'll to see whore you can
got IL; we are consoled in the begin
nlnG by the fact we'll known that
ln1 md 4
much dependent upon the uFe Of their
money by others for their incomes as
the Frmer is dependent Upou the
working of his land by laborors for his
rents; and it is only necessary to de-
monstrate that the money will be re-
| turned with to- 7 per cent, and we
| can get all we want. Now, what as.
slrance can be given that the money
will be returned? We have numer-
Gus Alliances in this county, number
ing from forty to eighty numbers.
VIII anyone for moment deny that
these forty or eighty members can, if
they choose, give good bomb proof
note ior$4 900 to &2O,OOO2 But hoar
some one saying that l have already
proved that it was impossible to have
them all conc into the merchandise
scheme. How will they be i1duced to
sign this note? There is this differ
once: The one asked reasonable, Gen .
slble mon to attempt somct hing i'm
practicable and foolish, the ether sug-
HostS a scheme, the requirements of
Wblch can be met and which would pa.
suit III widefprcad and permanent
substantial advantages where it is most
deserved and most needed.
MY plan ls for every member of the
Alliance TO sign note. l care not
whether he be worth one dollar or ton
thousand, he must be identified per-
sonally. This gives him right to see
that all using this fund Shall work
Ihelr crops, spending nothing for
Whiskey or luxuries. The money
would be in the hands OF u finance
committee who would pror,,1a month
~ allowances, taking liens on all, and
5uch other suroties AZ are usually civ
en- from those who were able to pInce
them.
am greatly ENCOURAGED with the
idea and would state 80 far a8 know
the attempt i'll this county upon this
identical plan has been mad3 bu. once
torty'seVen members were present
tortY six signed note for ST 900 and
~ four days the money was aubiect tn
!"eiT ord@r in one OF the banks in Co
lumhla. When State thai this Ali
hnce has more needy members than
any other in the county it will Ger
ealnl y boa matter Of encourapemont
to all. . 0ii'
In conclusion. let me say that T
consider IT question oc "Dut IN or
smut up" live are afraid to trust
each other what right have we to OK.
pect ma and comfort from merchants
or trusts? If it is still a question of
deVll take the hindmost amonmst
brethren, why shall we vilify those
VINO recognize no obligation TO us and
IN many Instances, being STRANGERS
sNmpiT p2y us oil in our own coin3 Tn
my opinion the time has arrived for
The farmer IN South Corolina to step
TO the front and rcgenerate this old
iand, not forgetting to regcnerate
hlm8olt. Many ofus have baon too
prone to urge the making OF u poor
crop as an excuse for not pnyiay debts
Wmch we could pay, aud the credit
OF the country has suffered incalcula-
ply thereby. And in some instances we
are blaming moneyed men fornot put.
bihS out their money more freely when
She lault lies with US. 1t cannot be-
denied that the banks of tho State
nave been obliging to tho farmers,
Letus cease our crawling, brother
farmers, and again assume the M
right forms Of men, and deal Justly and
larry ourselves before we abuse others
toT % Their shortcomings. | am hope
iei lor the near future, and honestly
pelleVe that the time ia at hand when
WIN the proper exhibition of man
hood and charity you can get all the
me- needed, which, properly cxpen.
ded, will hasten tho advent of that
hetter time so dovoutly praved for.
when you will not need to borrow ni
all, but Sitting under your own vine
ana hg tree" untrammellcd by liens
ana mortgages, you Will enioy in your
dechnlng years that ease and prosncr-
ny which has latterly fallen to the lot
of few ofu 'i' '0'
In giving figures nay ohjact has not
oeen TO be accurate, mathematicallv
speaking, but to discuss facts ond
principles generally.
T. w. WOODWARD.