Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1909-08-31
AGRICULTURAL CREDIT.

While, Of course, 1t Is quite impossi-
BILE to foresee just what business and
economic changes will be brought
about as the result Of the repeal of
the lien law, which goes into effect on
December 81, Of this year, It Is not to
be denied that the subject Is full of
interesting speculation, and not few
people are trying to look into the fu-
ture Of 1t.
From the standpoint of the supply
merchant, there Is no doubt that there
are going to be losses incident to the
final windup Of the lien business now
on their books. Every merchant who
has had experience with the credit bus
mess knows that q business which has
been running five years, requires at
least five years for a reasonably sue
cessful windup, and this fact alone
suggests q measure Of the losses that
will follow the effort to wind up the
business now outstanding in a single
year.
while we We're well aware that
there would be losses from old busi-
ness" said a supply man discussing
the subject with reporter few days
ago, many Of us went on this year
and took new liens as usual We felt
that we had to. There were already
existing contracts that had come over
from last fall, and there was no other
way for it. OF course. there are going
to be losses in the windup, and heavy
losses too. l do not see how 1t Is to
be helped, unless the general assembly
grants a still further extension Of the
time limit, and as to that there is nc
certainty. l cannot say that l am
looking for anything Of the kind; but
it would not surprise me much II the
general assembly should not find II
desirable at its next session to restore
the lien law"
II cannot see that there Is going tc
be a great deal Of difference" said q
farmer, discussing the same subject
"Of course, 1t may require year ol
two to bring about a re-adjustmen,
to new conditions: but after thai
things will work smoothly enough. A
see it, the supply people will con-
tinue to do very much as they are do
ing. They will take a mortgage or
a mans stock until his crop comes up
and then they will take mortgage or
his crop, very much as they are do.
ing. 1t will be pretty nearly the same
thing as it is now. So far as the far.
mer Is concerned, he will have to pu
out more money than he has been put
ting out. 1t will cause him to owr
stock that he has heretofore beer
taking a mortgage on, and for one
thing that will mean that the stock
will be more valuable. The stock OF
Of the average negro renter Is
usually pretty well run down. The
owner uses it not only for working
his crop; but for running about, and
when the title to this kind Of stock
Is transferred to the landlord, the sit
uation will change. When the crop Is
worked the stock will have to go into
the stable and pasture, and at least
be well fed'
Other classes Of people at interest
in the matter. are the small land own
ers, who are without independent
means ahead with which to pursue
their operations, and non-residen,
land owners, who depend for their in
come on renters. The repeal Of the
lien law will require different man
agement on the part of both Of these
classes; but as has been suggested, II
the legislature does not restore the
lien law, conditions will eventually
adjust themselves and in time the new
order of things will work as smoothly
as the old order Of things has beer