Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-01-09
Lot No. 81. 80.
COME EARLY.
MEYER SYCLE,
tO0 E. Broad ST. Next Cor. First.

the advancement Of all cotton farmers
60 common end for the common good,
pooling the entire product and pro-
rating by usual dividend methods the
earnings OF the association. The argu-
ment provides for organization by first
nominating a congress Of representative
cotton farmers, who SHALL after due de-
liberation and consideration, formulate
a constitution and bylaws for the es-
adjustment of an agency, to consist OF a
central board Of control. to be made up
Of a committee from each State. with
president ard vice-president. each state
TO be a chapter Of the whole and under
the management OF a supervisor. be dis
tricted. with points of receipt and distri-
button, warehouses, etc.
All the States are TO be under one form
Of business management for buying, SELL
ing. grading. marking, Weighing. account
ing. etc. and all are to be under the di-
rection of the central board Of control
a system of Independent auxiliary
banks. under special state charter. au-
thorized TO issue scrip or promlssOry
notes based on the amount of cotton
hypothetical for advances, the associa-
ton TO issue warehouse receipts to the
farmer for say four-hfths Of the selling
price determined upon by the centrm
board, which shall at once have authority
TO fix the annual selling price-which
shall be strictly maintained throughout
the year-the bank to cash the farmers
warehouse receipts, and the cotton bills
when sold by the association shall spe-
city that the remittance shall be made
20 the bank, which shall reimburse itself
for advances and the commissions agreed
upon, and hold the balance due TO the
association as its trustees. Said balances
shall constitute contingent or reserve
fund for the operating expenses Of the
association. and at the end Of the year,
after all obligations are discharged due
by the association, then any balance on
hand in bank shall be declared ar earning
and pro-rated TO all the farmers accord
ing 10 the amount Of cotton sold by each.
All the cotton shall be bought at the
advance price TO the farmer, of say
cents, and sold at say 10 cents, to pro-
vide a fund sufficient TO cover all ope-
rating expenses. and allow for the de-
structiOn of any unnecessary surplus re-
naming after all buying wants are sup
piled. the handling of the crop to be
guaranteed to the auxiliary banks. and
an annual accounting to be made by the
central board Of the years transactions
FOR FARMERS ONLY.
Only farmers shall be eligible as stock
holders of the banks. and all clerks and
officers Of the association are 10 be Sc
lected from among the ranks of farmers
as far as possible.
The argument claims that the organi-
zation will DO distinctively one Of white
men, as the landowner can make con-
tracts with all irresponsible tenants and
troopers, compelling them 10 sell and
deliver the crop TO the association.
The speaker dwelt upon the Ineffective
ness OF partial measures, insisting that
the means should be equal TO the END TO
be gained, and appealed to the sef-in-
terest and patriotism OF his constituents
to support a movement Of the farmers
for the farmers, by the farmers. lie
characterized the Cotton Exchange as
national curse, he deplored the conditions
caused by outside capital control, and
painted q glowing picture of the Souths
rehabilitation as it would be with a pro-
fitable price for cotton. He confessed
that the evils Of the present system
had taken such a firm hold, the under
taking was so enormous, and the dis
cOuragements were so formidable that
little short OF Divine inspiration would
kndle the hope Of a successful COM
mencement of the farmers crusade
against the Ills that now beset them.
1T is truly q gigantic undertaking" he
said land may well stagger the stoutest
and bravest, but as something has to be
done TO relieve the present situation and
make il possible for the farmer 10 get
fair return for his labor, we devoutly
hope that God Will speed the day Of his
deliverance."