Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1911-11-24

ing Governor Colquitt Of Texas, and
f. ]. Watson, president OF the perma-
nent Southern Cotton congress and
commissioner Of agriculture of South
Carolina, that proposition has been
presented to these gentlemen, repre-
senting respectively the governors
conference and the cotton congress,
composed of producers and business
men Of the south, which means the
placing in the cotton belt states Of
about $50,000,O 900 Immediately for the
handling Of the cotton crop Of 1911.
I'm other words, the proposition Is
to give the farmer $25 per bale ad-
vance on his cotton without interest,
charging him only 81 per bale to cover
expenses of grading and hauling, let
ting him turn over the cotton to the
holders, who will advance him $25 per
bale and give him the opportunity to
designate the date of sale prior to
January 1, 1913, and to participate in
any advance in price to the extent of
three -fourths of the rise In the mar
ket.
The Chances.
1T is calculated that by the present
ordinary holding plan the farmer
takes all the chances of the rise in the
market. BY this plan he takes no
more chance than he did before and
has every opportunity of maximum
price in a rising market, and saving
the losses sustained by damage and
by loss of weight and warehousing
charges.
Provision is made against any ap-
parent violation of the Sherman anti
trust law in that each committee
named by the governor or commits
sioner of agriculture of each state has
power to name the day of sale II cot
ton reaches IL or 13 cents, which ac-
cording to the testimony gathered
gives only a close, legitimate profit on
the cost of production.
"Of course everything depends on
the acceptance of the plan by the in
dividual farmer in connection with
his pledge to reduce acreage the COM
ing year. The individual farmer
alone can make success possible.
Bankers Behind II.
The undertaking is fathered by a
number Of bankers, OF. whom Col. r.
M. Thompson is the head. The COM
mitteemen have been offered assur-
ances from some Of the strongest
banks in the city Of thorough back
ing of these already strong interests.
These gentlemen here, as we'll as
President Barrett Of the National Far
mers Union, consider the plan ac-
ceptable to. the growers, and they are
tonight returning to their respective
states to present 1t to their people, and
II it be agreeable to the producers to
put 1t into immediate operation. .#
Senator Bailey has been advising
as to the legal aspect Of the proposf-
ton"
E. J. Watson, president Of the
Southern Cotton congress. comment
ing on the plan tonight, said:
Prevents q Corner.
I'VE have carefully considered the
whole thing in ali its phases. can't
say what the growers are going to do.
The financial end Is strong. It holds
out prospects Of fine results and estops
any efforts at a corner Of the market.
It seems to insure an honest price for
cotton and to safeguard the commod-
ity, which Is the very keystone of
American finance. Some one besides
the farmer may make some money out
of 1t, but as that Is done the farmer
is being assured several dollars a bale
more than he would get under the
present iniquitous marketing methods.
We are therefore willing to submit and
recommend the proposition to our peo-
pie, and, II they wish to accept 1t, then
help them to make It effective as we
can.
There is no doubt that the holding
and reduction Of acreage pledge, the
movement we have been pushing so
successfully, has checked the down.
ward tendency of prices under the
persistent hammering up to this time.
So far we have fought the battle un-
aided; now that money to the extent
of $50,00O,000 Is offered we may fight :.
harder and in the end we hope to put
a check to methods of marketing OF a
nationally important commodity which
the Federal government ought to have
wiped out long ago."