The Montgomery advertiser. [volume] (Montgomery, Ala.) 1885-1982, 1909-04-03
PLANS SCHEME
TO SAVE SOUTH
D. ]. SLY Appeals to
Farmers.
WlslD FINANCE COTTON CROP
New Yorker Outlines Reason for
HIS Trip.
he WANTS IL P.t TAe staple Product
en- stable Fe..aatiea VIVA
Good cAain Of wsrs-
| WfslD FINANCE COTTON CROP.
he wants IL Put The STAPLE Product
| en- stable re-nAst,o. VIVA .

farmers OF the South and the busi-
ness men of the South say the word,
funds will be immediately available in
suficient volume TO forever place the
great industry of cotton production
upon q. stable foundation, free from
the chance fluctuations Of the mar&et.
relieved OF the attacks of manipula-
tors and leaving the gigantic crop
monopoly of this section to RESPOND,
pnembarrassed and unrestricted. to
the legitimate laws OF supply and de-
mand. The result should mean to the
ranging from s15o.ooo.ooo to s25o.ooo.-,
900. |"
In these plain terms Daniel J. Sully.
tha man who drove cotton to its high
est pride since the civil war. today
outlined the purpose OF his visit to At
Ianta and the Southern States.
Continuing, Mr. sully said his plan
pregnable, buefness system which shall
do away with the annual necessity of
the farmer sacrificing millions Of bales
of cotton for pressing debts. longest
ing the market. hammering down
prices, upsetting the reign of supply
and demand. and losing to this section
the tremendous sums that are Its due
In return for the one crop indispens-
able to the needs Of civilization.
Not Asking for Money.
'T do not ask one penny from the
Southern people; I do not ask the
pledging OF one, bale OF cotton. until
have given ample good faith Of SUM-
cient financial backing. from sources
that are unquestionable. to carry every
detail of the plan into effect and to
safeguard the interest of every farmer
nthe South, from the man who raises
one bale to the man who raises a
thousand bales. M ssfta
"A minimum fund Of sfo.ooo.ooo sub
scrfbed by the most conservative f1nan-
ciers OF the United States. Is ayaiia-
BILE to be Invested in such ironciad SEE
curitfes as shall insure the ability and
tho responsibility of the plans pro-
moters to redeem the promises and
obligations to tho last detail.
The people Of the South win be
given the first opportunity to Invest
I in this project, IT, upon rigid investi-,
cation. Il commends itself to lheir
Judgment.
nut Il WIN secone operative. mttfA
line same rock ribbed backing. II the
South does not see At TO put a single
dollar into a.
Chaan Of warehouses.
.sFhe backbone Of the plan Is a chain
Of bonded warehouses; throughout the
South sufficient in number and ca
pacity to house one-third OF the crop.
and that one-third. as has been demon
strated. will be the balance of power
VII lch wilt render market cougeEtion
impossible and insure tho afsposal Of
the crop in strict conformity with the
laws of supply and demand.
mo farmer will sacrifice or surrsn-
der the title TO his cotton under this
plan.
Say that he produces one bais OF
cotton. Under present conditions the
vast majority OF Southern planters
have already heavily mortgaged that
bale to secure the funds for It's pro-
duction.
"IIis creditors press upon him for
settlement In only exceptional in
stances is he able to withstandt the
pressure. Az an overwhelming rule.
he Is forced to sell his cotton the mo
ment 1t leaves the ginnery
The same situation prevailing in
every Southern state, 1t follows that
the bulk of the crop, instead of fol-
lowing natural business laws and be-
ing marketed over the legitimate pc
riod of barter and sale and consump
ton. is dumped upon the markets in
big lots.
THE inevitable result is that the
market price says, congestion ensues
and the Individual who cannot AFFORD
to hold of his creditors sells his cot
ton at a loss.
This procedure is unbusinesslike.
unnecessary and rulnously expensive to
Southern industry. The cotton crop,
keted only as 1t is needed. No manu-
eacturer would think of selling HIS out
put In a short two or three months.
The Present System.
Now go back to the individual farm
er we were using for purposes of IL
lustration. He deposits his bale In a
warehouse that Is bonded and absolute
ly as responsible to the commercial
world as Is a surety company or an
insurance corporation.
"de accepts for this bale a certificate
certifying to his ownership OF the cot
ton
The backing of reserve of mil
lions of dollars. and OF all the stock
holders. is back OF that certificate.
1T will be as fully protected as
United States currency.
with the security thus outlined
supporting 1t. he will have no trouble
whatever in borrowing enough from
his banker to meet his pressing indebt-
edness, holding his cotton in the
warehouse until such time as II can
be marketed at a price commensurate
with its ultimate value to the busi-
ness world.
'sIn borrowing this money, he does
not surrepder the equity in his cotton.
1t is his, to sell whenever he pieases,
or to hold as long as he pleases. with
the plain business exception that the
certificate he may have used as col
lateral for the loan Is a prior lien upon
the bale which must be satisfied out
OF the sale OF the bale when that cul-
ninatIon is reached"
The company would be paid nom.
inaI fee for each bale OF cotton han
dled. and in this way. Mr.. SuIly fig.
ures. a fair profit viii be realized on