The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1904-09-28

Is the business life Of New Egg
land at stake? Does the sword of
Damocles hang over it's head? These
questions are not idle thoughts, nor
are they written without full appre-
citation of their meaning; they are
written in soberness and truth, with
the hope that they may awaken the
people Of New England, the bankers,
the individual capitalists and the
merchants as well as the manufactu-
rers, 10 serious consideration Of the
possible danger.
Possibly the public at large has
not quite understood how absolutely
essential to the business life of New
England is our cotton industry. For
years we have faced its relative de-
cline; We have seen Southern con-
sumption increase in 10 years from
100000 bales to 100000 bales, while
New England has stood still, it's con-
sumption being only 100000 bales
now against 100000 as far back as
1901. We have seen the Dwight, the
Merrimac, the Massachusetts Com
pany and other great corporations for
generation or more the pride of New
England, build great mills in Ala
bama, Georgia and other States, ard
now We face new crisis greater than
any OF the past in the organization Of
the Southern Cotton Corporation.
Let us seriously study, for moment,
the plans Of this company as they may
be made to effect the futureN of New
England unless we are to NEE: the
situation. We know the character,
the power and the financial strength
Of some of the men back Of this or
ganization, men who have done o
mighty work for New England's de-
velopment, and who, after most pa
tient investigation Of the plans Of
some Of the farseeing leaders in South
ern development, have joined in an
undertaking which, besides the capi-
tai it has at it's command, has also the
greatest mechanical and engineering
skill available in this country. These
people propose to improve the ginning
and compressing Of cotton. AS this
will improve the staple, lessening the
cost Of insurance, and bring the cot
ton to market in better condition than
heretofore, this feature Of their plan
is of Importance to every cotton spin
ner in the world, 80 that this feature
Of the work Of this company does not
initiate against New England. In
addition, however, to the improved
methods Of ginning end COMPRISING.
the company proposes to establish
throughout the South system of
warehouses whose receipts are to be
made "gilt-edge' collateral in any
money market Of the country That
means the storing Of the cotton in
she South by Southern farmers and
Southern mills at low rats Of inter-
est, thus absolutely destroying one
great advantage now possessed by.
New England over. Sonthern mills in
the .ans~ rate Of interest which our
mill, enjoy as compared with their
competitors in the South. It means,
moreover, an immense increase in
Southern banking business, as cotton,
which in itself is the best possible
basis for banking collateral, will be
financed by Southern banks through
these warehouse receipts with more
safety and more profit to the banks
than the present system, and at the
same time bring greater profit to the
grower.
a leading Nsw England mil man,
at one time president Of the New Erg.
land Cotton Manufacturer's Aseocia-
tion, lie quoted as having recently said
that in his opinion this is the greatest
and most far-reaching business propo-
sition that he has ever seen, and al
though having no personal interest in
lit, he realizes its tremendous eignifi-
cance and It's vast influence on the
worlds cotton trade. We are advised
that'the Southern Cotton Corporation
lis to be absolutely free from specula.
|tion; that it does not intend to buy
|or sell cottor, but it will simply In
addition to its improvements in. GIN
ming and compressing, provide ware.
houses FOR the public and issue 10 the
farmer or nyone else 8 receipt for
cotton placed ia ito warshouaes, ana
then guarantee, il derired, 70 provide
iioaas against these receipts. Natu.
|fally Southern bankers viii sac ii.
This the same opportnnitv which INA