The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1909-09-14
Cotton CROP LOSS
3@00,000,000 YEARLY
Plan of Financing Sug-
oested to Save that
Big Sum
0F GR At MAGNITUDE

The Cotton Crop Greater Than All
the Gold Mines of the World Twice
Over-Editor of the Cotton Jour-
nal Calls Upon Southern Bankers
and Business Men to Finance the
Crop.
lBy Henry S. Reed, Editor and Man
aser Of The Cotton journal, At
!anta, Ga.)
To finance the American cotton crop
in the interest of the country prOduc-
ing the crop in the interest Of the men
who grow the lint is without doubt
the most important move capable of
being made by Southern people. [
am not disposed to make any display
of sectional interest, but in handling
the subject under consideration, most
emphatically urge Southern men to
interest themselves in the labor Of
financing cotton, because this money
product of the South should be con-
sidered by men who know and sympa-
thize with the man who tolls, and
know and appreciate the important
part cotton plays in h various in
dustries of Southern States. To be
financed and controlled by men who
care only for the individual profit to
be derived, would without serious con-
troVersy result in the further en-
thrallment Of the toiling masses,
hence it is quite impossible to look
with kindly eyes upon moves looking
toward the control of the crop by men
living beyond our borders, and en-
gagged in the more or less doubtful
occupation of speculation.
Because the industry is one Of
grand proportions does not satisfy
-zx l. - oon not no
applied with the same degrees of Ger
tainty in their accurate workings, as
have characterized their workings in
huge airoa corporations, steel COM
panies and other industrial enter
priseS. Indeed when once the plan IS
hit upon will be found simple and
will follow the course Of good bust
ness procedure. There is no mystert-
Gus verbiage in good business trans
actions and the complicated, ambigu-
Gus route suggested by some from
start to finish will be to read smooth
and clear to any mind capable Of un-
Outstanding business economics. The
question how to market the crop, TOR
of course that means to finance it, Is
attracting better attention today than
at any other time in the history OF
the industry; men Of brain and power
are coming in their mind the best pos
sible means for putting this industry
on a footing enabling it to compete
With the interests buying each year
our splendid product. For it must be
understood, the buying interests are
completely organized and for that
reason the South is very much at the
mercy Of those interests in its present
unorganized condition.
No reference is here aimed at po-
litical. educational or agricultural or
CARNATIONS. They ntehmselves are
good and useful, but do not in the
least have anything to do with the
greater problem Of financing and sue
cessflly marketing this great staple.
The Magnitaude of the Crops Greater
Than All the Gold Mines Of the
World Twice Over.
The American cotton crop, valued
at around $500, 100000 annually, q
sum equal to the combined output OF
all the gold mines in the world for
two years, must be anc in such q
practical manner as to permit the
marketing of the crop from month tC
month as remands from spinners pre-
sent themselves, thus preventing the
congestion of an annual supply upon
an OVerstocked market during the last
months Of the year.
To accomplish his there must be
certain prime and principal corner
stones laid deep and strong and &C.
mented by integrity and accumen.
First: We must establish ample
Warehiusing facilities at princlpa
pa - LII III tHc w GUS w.
bonded by the Government and man
aged on business principles, with each
Dale warehoused, sampled and marked
TO correspond with bale, and sale
sample exhibited in the main or pa
rent warehouse, enabling a purchaser
Tor foreign or domestic mills to buy
spot cotton by sample and Withou1
penetrating the cotton belt.
second: We must establish a grea'
cotton bank and trust company, CAPT
tdllzed n managed in the sole in
tefeSt of the cotton crop. The de-
tails to be worked out by our best ant
most experienced bankers. The stool
III such an institution would be con