The new South-news., 1908-04-04

Jon, Mississippi Division. in reply
= private letter from . prominent
utA Mississippi banker is given
he because il deals in . practical
ay with questions which concern the
Dsopls Of Mississippi:
''Oxford, Miss, March Goth. 1908.
"Ny Dear Sir:
''Your favor Of the 18th received.
/ appreciate fully your line Of rca-
soning on business interests gcner-
ally. There is no question about the
soundness o. your argument that the
natural marketing of all commodities
i the best and soundest method of
handling them. This applies to cot
ton ~ to any other commodity, but
under the present system cotton is
not naturally marketed. There is set
up in this country a most naturally,
cumbersome and expensive system Of
handling this crop. Our effort to set
up . new system is nothing more than
an effort to break down the present
worry expensive and unjust system.
We cannot do this by allowing the
cotton to 60 through tho channels
that it has gone in former years. Ev-
cry advantage under the present sys-
tenn goes to the gamblers buyers and
to the mills, every disadvantage un-
der this system is reaped by the pro-
ducers. When l say producers, l
mean it in the broadest sense. l mean
that section Of the country which
produces the cotton regardless of
class or occupation.
"Ths United States has a early
balance Of trade with foreign coun-
triss ia it, favor. The cotton crop
Of tNs South furnishes the most OF
the balance in favor Of this country.
Tue South would reap special bene-
ats IL the trade conditions were nat
ural and just. As it is, however, the
South IL the least benefited of any
ssction Of tho country. Shall We per-
nit this system to continue indefi-
nitsly, or shall We make = united ef-
fort to change the system and reap
the wealth that is properly oursi Ev-
cry interest would be benefited by
such . change; the bank deposits
would b increased with the wealth
Of The people, the volume Of trade
IA every line would b swelled in pro-
portion that tho price Of cotton is
advanced and every interest in the
South would reap its share Of the
prosperity.
"You speak of your town as an in
dustriAl center. Your compress at
tracts considerable cotton. 1t woult
possibly attract more il this cotton
seuld b. financed there next fall. The
bank deposits would be increased in
proportion to the amount Of cotton
handled from that center.
1T i true that credit thus ex.
tended Is . burden to the borrower
but W feel that it is better to carry
this burden for . few years and put
ourselves on . sotnd and natural ba.
sis than to pay tribute indefinitely tc
those Who speculate on our products
and ct rich from the resources Of
the South, and especially Is this trut
since other sections of the countr,
ars getting the greatest benefits.
"It is true that the independence
Of ths individual enables him to holt
hss produets' and to take advantage
Of the best prices Offered during thu
season. II thin il true Of the indi
vidual it il still truer Of the Soutl
collectively. Greater benefits car
come te the individual through I
united and cooperative effort. Th'
individasl Who il able to act for him
self u often hampered and thwsrte'
h his efforts by the individual VIII
il unable 10 act for himself, and is a
tAs mercy Of those who would pre-,
upon dis weakness. His weakness il
the cotton situation becomes the weak
nsns Of I'll. Our effort is to make tn
weak man strong IA order that a
nay become strong.
ut i true that the country is I'D
justing along that line, but very
slowly. II conditions are allowed b
remain - they ere, = half eentur.
will pass bsfore ths South comes int
its own, il in fast that il ever Ae
semplshsd. The constant drain 0
wsaltA from this section and The con
sentration Of The same ia the gres
wealth esntsrs sdds TO their strengtl
an1 y eur weakness and widens th
ehasn year b year.
'sYew pine forests will b. exhaust
~ in talf = eestnfy and cotton vii
~ your ssurss Of wealth, - why no
eo-epeFate ~ n srdsr that eottoI
~ hsll ~ commanding position
~ ypas pins forests ~ bold.
III nay - txus that 'ths man VII
boggous 0ensy and carries his com
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