The Montgomery advertiser., 1908-09-20
Warehouse Plan.

New Orleans IlmeS Democrde'
 New Orleans September 1s-The telegram published in The Times De mocrat of the 17th instant. quoting the New York Journal of Commerce in criticism of the proposed Public Ware house plan here discussed. shows that the writer of the criticism miscon- ceives entirely the aims and purposes of the plan.
 The gist of The Journals objection is found in the following paragraph:
 But the real objection to such scheme is in the introduction of the State with its authority and it's credit into a plan for controlling the market for a particular product and main taining its price"
 The plan has no such purpose. It does not propose to control the market for any commodity nor to maintain the price of any commodity. Its aim is to provide a warehouse affording storage and handling facilities at the mini mum of cost and the maximum of security. The introduction of the authority and credit of the State is for the purpose of cheapening the original cost. lessening the expense to the patron. adding to the value of the warehouse receipt, and popularizing the enterprise. It is proposed to con duct the warehouse business just as private enterprises are conducted only on a cheaper and better basis than now exists and with greater security to the owner of the goods and to the lender of money thereon Neither the State nor the Commission operating the plant would have any more com trol over the property stored or the disposition of the owner to hold or sell. than the private warehousemen now have. The warehouse would have nothing to do with financing the pro- ducts stored therein. nor would 1t have any part or place in any plan or agreement of the owners of the produce for the purpose of affecting the price or market therefor. It is not an extension of the Farmers Union plan of holding cotton for a fixed price It is a business proposition simply The warehouse would afford cheap and secure facilities for storing cotton to those who saw fit to avail themselves of these; nothing more. Whether a man held his cotton for one nonth or five years or whether he sold it for five or twenty-five cents per pound would rest entirely with the inclina- tion of the Individual and the exigen- ies of his affairs. It would, however, to a great extent relieve the producer of the necessity of throwing his cotton on the market at the time when sup ply was in excess of demand, and would enable him to market his crop more gradually and In step with de- mand, thereby realizing more nearly the natural value of the same, This feature of the plan Is probably more obiectionab ble to our friends whose interest it Is to buy cotton cheap! than is our tendency toward Socialism by which the Journal appears to be al armed
 There are at present being con structed on the river of this city under the sanction and credit of the govern ment extensive improvements in tie nature of levees, docks. wharves. che1s and belt railroad tracts. These im- provements and facilities are being made and are operated by several Commissions IL Is proposed that the warehouse shall he an additional item In the general improvement of our port facilities and shall be built and operated by Commission as are the other items. It asks for no greater privileges than have been accorded to the other plans for betterment; 1t is entitled to no less
 (signed} W. R. Thompson
 Mir Thompson Is president of the New Orleans Cotton Exchange