The times and democrat. [volume] (Orangeburg, S.C.) 1881-current, 1909-07-20
CHEAP MONEY
FOR THE FARMERS TO DO THEIR
BUSINESS WITH.
Mr.. Hyatt Tells How 1t May Be
Had, and Outlines a Plan for
Handling the Cotton Crop.

Handling the Cotton Crop.
Mr.. F. H. Hyatt, of Columbia, who
is deeply interested in all that per-
tains to the development of the ag-
ricultural interests of South Caro-
lima and the South, has worked out a
method of marketing the cotton crop
and of borrowing money advanta-
geously on farming lands which ap-
pears to offer tangible results. Here
is Mr.. Hyatt's plan as he unfolde'l it
to reporter OF The News and Cour.
ier on last Wednesday in Charles
ton. Mr.. Hyatt said:
I have been associated with the
farmers movement in the South for
great many years and l have taken
great deal of interest in their well
fare, because, as We all know, the
success Of our country depends al
most entirely upon the success of the
farmer. The Southern Cotton as
sociation, with which I was closely
identified for a great many years,
agitated. planned and tried to bring
about feasible plan, and one which
would be practicable to assist the
farmer in marketing his cotton at a
paying price. But every plan that
was suggested seemed to have some
defect. While the Southern Cotton
association did great work in edu-
eating the farmer along certain lines.
yet it did not have the tangible or
ganization as to membership that the
Farmers union has. was talking
a few days ago with some of the
officials of the Farmers Union, and
I found, Notwithstanding, as I am
informed, that they have a million
and a half paid members on their
roll, and some 5000 in South Caro-
lima, that they, too, are still at loss
to know how to proceed with their
organization to bring about 'imme-
diate results. Of course they un-
derstand that in order to market the
crop during IL months of the year,
instead of 3, it will be absolutely
necessary to build warehouses, and
through their warehouse receipts bor-
row money on their cotton and hold
for better prices.
When we get up to this point
and realize that it takes about $780,
100000 to pay for one cotton crop,
We pause and stagger. Bui it does
seem to me that if the Farmers
Union could establish in each State
a guarantee company upon business
principle, as other banks and trust
companies are run, selecting good
man for president, and getting
good board of directors, that with
a small capital Of few hundred
thousand dollars, they would be able.
to manipulate through this organi-
Zation millions of dollars worth Of
cotton.
In order to do this, it seems to
me that each cotton State will have
to have its own guarantee company,
and run it on banking principles, so
that each and every State will be in
a position to take care of the cot
ton in that State. So far as / can
see, this would not interfere with the
unions general organization. AS
I see it, the United States govern
ment has become more or less alarm
ed about the condition of the farmers
in America. as SO many of the young
men have left the farm, and in this
day and time it is absolutely neces-
sary7 that We have better and more
scientific farming from now on than
we have had in the past.
No section OF country can build
up and develop without money. In
the West and Northwest the farmers
have grown Independent farming be-
cause they had something to farm
with. For years and years past the.
Golfers of the banks in the East have
been. at their disposal. But / am
realiably Informed that the farmers
in the West have become so indepen-
dent that most of tnem have paid off
their mortgages and that now this.
money has to seek investment some
where else.
A few weeks ago l met two prom
inent men from the East who were
down here looking into the conditions
In this State. and they expressed
their desire to lend money at a very
reasonable rate on farm hands. One
of them stated to me that he had
been lending money in the West OH
farm lands for 80 years and had nev-
er lost cent by so doing and that
he and his company preferred farm
loans.
Just at this point it seems to me
that If the farmers had well-es
tablished guarantee company, with
frst-class business men as officers,
that at this time or in the near fu-
ture through this company they
would be able to get a great deal
of cheap money for the farmers.
One of the capitalists of whom have
just spoken said that one OF the OBJ
jects he, had to lending money in this