The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1906-11-28
Federation Of Our Warehouses;.


The following was taken from the
editorial columns of the Greenville, 8.
g., Daily News issue of Sunday, No
vember 18th, 1906:
"There is an impending comprehen-
sive change in the system of handling,
warehousing and marketing cotton.
The new situation will be one where
cotton will be dealt in by guaranteed
certificates standing for the cotton, in.
stead Of dealings in the cotton itself.
This naturally involves q certificate
which stands for every point connect
ed with cotton, with Its quantity, its
quality, it's safe storage, and its protec-
ton against fire.
"The United States government ham
dies gold in this way. 1t makes q safe
storage for the gold itself and puts out
a gold certificate which is more con-
venient for the people, Wheat is han
died in this way. 1t is graded proper
~, stored, and certificates are put out
to represent the wheat. Pig iron ia
handled in this way. All these certif.
Gates are brought!to some standard and
may lie handled on the stock and COM
mercial exchanges of the country. BY
this means better and more staple mar
kets are obtained. Tremendous econ
'omies are accomplished by saving the
handling of the bulky article itself.
RAILWAY properties and large man.
u%facturing properties are really
brought to be represented by stocks
and bonds which are simply certif'
Gates representing a portion Of the
property, and this brings the property
to better commercial values, because
it's certificates may be handled by the
mills and on the exchanges. Cotton
is probably the mi agricultural and
commercial product which has not
been brought into a system by which
the man In Bremen or in Manchester
may buy up his supply and leave 1t in
storage in the productive region, until
he wants it shipped out.
"The agitation upon the subject Of
cotton warehouses Is not without foun'
dation and ia going to lead to conse
uuences which will be advantageous
to the whole South. 1t transpires thai
1t Is not 30 much warehouses which art
needed, as some comprehensive system
for grading the cotton, guaranteeing
the grades and weights and issuing {
certificate on cotton in any warehouse
which certificate will become a com
mercial commodity in the open mar
kets. Heretofore, warehouses have is
Isued certificates which represent moth
ling in particular but a package. Their
lis no way of dealing in certificate
which don't come down to exact spec
Iifications and generally there are loca
values for certificates which stand up
on the credit ola single warehouse.
"Factory insurance is brought to
condition of great perfection and yer.
great economy, by an association Q
factories which chip in to make an as
sured policy. In the same way, !
warehouses would associate themselve
together and chip in to make up an IN
Isurance or guarantee fund whicI
would stand back of all the cotton il
the warehouse which were members g
the association or in a General Gem
it would make a big differenc
nkhsHpcome of warehousing and
lnce in extending the facil
ding cotton"
bove we wish to adj ths
blan must come and be spr
the producer himself an
working machinery to pu
oh q medium Is the inten