Crittenden record=press. [volume] (Marion, Ky.) 1907-1909, 1908-07-23


mand according to the science OF
marketing. This calls for certain
iudulgencies from banks in the wheat,
tobacco, peanut, syrup and cotton
belts in the way OF loans at harvest
time with these products warchoased
and Insured as security
There is a vast difference between
the amount needed to bodily move
these crops in few weeks and the
amount needed 10 finance for a f.W
months the per cent necessary To h."
borrowed on a. the surplus Is being
held oil the market
wish 20 ll,ahu,e 'hr M ads Of
those wto MAJ hay. drawu 'ae idea
that D., an attempt TO corner the
cotton market as ,peculator, do. We
are not attempting to demoralize
markets and create artificial demands
but to prevent overlooking the mar
ket at any one time. thereby help
ing to maintain stability of values
If the banks of the South and
West refuse to loan Us money at a
low rate of interest we will be forced
to issue certificates on our cotton de-
posted in warehouses and use them
as money JUST as the bank, did last
year
There Is growing sentiment In
favor of Farmers union banks Two
are already in existanceln Tennessee
and others under contemplation !
tell you frankly that am opposed
to this # the banks already in opera.
tion will do a, well by rs a. the IN
ion banks could do. The fact D, We
already have twice As many banks m
the state a. are needed 20 adequately
handle the banking bushes, of the
state. But II all depends On the
treatment received, whether this sen
timcnt will cause union bank. to
blossom all over the state. Il they
enter the arena and are backed by
cold blooded determination there will
be- other, that will have To- 20 out
o., business II vail lead to trading
only with merchant, who patroniIe
union banks aud TO voting
only for county officials who deposit
only with union banks You readily
see We have the power to DO tbi-.
and that no end Of friction for the
other bank. would result
We are glad to lay that Mr Read.
the oldest banker IN Memphis, and
president Of the Union and Planters
bank, has been our friend and stood
by us as Gibraltar Of defense dur.
ing initiatory efforts here n Memphis.
Those banks which have loaned Us
money at II per cent We look upon
more a. Shylobk, than friends and
helpers. To lend a helping hand
with a peualty attached j. not acting
the part of the good Samaritan even
in a commercial sense. II absolute.
no sentiment Is allowed 10 enter your
business, then II Is war to the
knife and knife to the hilt and to the
victor belong the spoil,.
Allow me to quote the language Of
Mr.. +. X. Farmer, vice president
and cashier Of the First National
bank. of Fitzgerald. Ga. July 9TH.
1906. And now comes our friend.
the farmer. who after a hard year
toll finds the price Of cotton, the pro-
duct of his lador. and hard ships.
hardly adequate TO compensate him
for his outlay and his years work.
Shall we compel him 10 pu, bis pro-
duets on the market and take his
meager profit, or shall we put him IN
an Independent position by saying to
him put your cotton in the warehouse
insure it bring rs your receipts and
take our money, pay your bank notes,
your fertilizer accounts and your sup.
ply accounts, aud when the markets
reach a more satisfactory condition
sell your cotton and repay us2'
When we have taken this position we
havs not only bestowed a good act on