Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1904-01-04
FARMERS AND BANKERS,
Ten Cent Cotton and the Waco Warehouse
Plan.

PIan.
Raleigh Post.
To tell farmer to hold his cot
ton for ten cents without having a
uniform system for doing it is al
most as hard as Pharoah's calling
On the Hebrews to make bricks
without providing =. them with
straw. But the Hebrews provid-
Ell themselves with straw and made
tn bricks, and the cotton pro-
ducers must sooner or later pro-
vide themselves with a cotton
warehouse system for safely stor-
ing theirFcotton SOFAS to hold it
for better prices. The three
great farmers organizations, The
Standardization Growers Asso-
citation, section of The Farmers
National Congress of which Hon.
Harvle Jordan, of Monticello.
Georgia, is PRESIDENT, the Farm
ers' Educational and Cooperative
Union, of which Hon. N. G.. Muir
ray, of G%reenville, Texas, is pres
ldent. and the American Society
of Equity, of which Hon. J. A.
Everett, of Indianapolis, Ind, is
PRESIDENT, have advised cotton
growers to hold their cotton and
market it slowly, as needed for
actual consumption of the SPIN
ners. The decline in prices shows
that the farmers have not been
able to act upon this advice, for
it goes without saying that if they
had held their cotton for ten
cents they would have received
this price since the world must
have cotton. They have held
back some cotton but not enough
to effect this great purpose. The
government report of December
I'D found the cotton grower who'll
ly u%nprepared to resist the fall in
the prices Of cotton as the logical
result which followed and will
continue to fellow the threat of
dumping upon the market during
this cotton season ~, 1862, 900 bales
of cotton, and about 200, 900 bales
of linters.
Present prices for cotton are
runious. What is the remedy?
Farmers and bankers must get
together Immediately and prepare
to carry over until September,
1905, one million. and a half bales
of cotton, Every farmer must
hold over nearly twenty per cent
of his 1904 crop, to prevent ruin,
and as many will not do this,
every farmer who reads this sug-
gestion and can do SO should hold
back all the present unsold por-
ton of his crop. If he cannot
hold all, then hold as much as it
is possible to hold. If the man
who reads this can hold only one
bale let him hold it, for co-opera-
ton of the small farmer, as we'll
as of the wealthy planter, must
be invoked. Make up your mind
to hold that one bale or that ten
bales for one year. Garry it to
town where there rs a local
bank. Do this at once. Look up
an abandoned storehouse that
carries insurance, if possible. Put
the cotton in there. Insure it.
Get the lowest rate of storage and
insurance possible. If you cannot
dc this, haul it into the back lot
of your home banker. You may
count on him as your friend.
This talk about bankers being
against the farmers is all wrong.
and absolutely untrue. Got the
bankers consent to store this one
bale or ten bales in his back yard,
if you a do no better. Protect
it by keeping it off the ground and
by covering it. Then go to the
bank and get all the money on it
the banker will let you have up
to your needs. He ought to let
you have it at 6 per cent, if you
put the cotton in his possession.
In this way every farmer can get
from his home banker nearly as
much money as he could sell his