The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1911-11-08
COTTON PLAN OUTLINED.
SOUTH CAROLINA SHOULD ADOPT
LOUISIANA METHOD,
II State Can Go in Liquor Business,
He Says, 1t Ought to be Able to
Deal In Cotton.

Bennettsville, Nov. 2.-Former
United States Senator McLaurin and
Charles Crosland returned last night
from New Orleans where they have
been attending the conference Of gov
ernors On the problem Of raising the
price Of cotton. In an interview this
morning, Mr.. McLaurin said that the
entire meeting was characterized by
intense earnestness and determination
to meet and solve the problem Of
such vital interest to every one Of the
South.
When asked as to what plan re. +.
ceived the most favorable considera-
ton at the convention ne said:
"The plan proposed at New Orleans
was called there the Louisiana PLAN
If was called on to name it, 1 should
call it the State valuation PLAN
1T Is already being put into prac-
tical operation in Louisiana, Missis-
sippi and all tho territory contiguous
to New Orleans In brief, it is like
this In Louisiana and it will have to
be varied to meet the different condi-
tions in the several States: The city
Of New Orleans owns and operates
the docks and warehouses Of the city
under what Is known as the dock
mic
great seal under proper safeguards
upon the certificates issued by the
warehouses. / saw one Of the forms
used; 1t Is really a receipt from the
State Of Louisiana for so many bales
OF cotton. This valuation by a sover-
eign State takes away the local flavor
and gives the warehouse receipt about
the same potency as the old State
bank currency used before the war.
"The credit Of sovereing State is
behind the warehoused cotton. and
they tell me money Is obtainable in
any amount at 4 to 4 1-2 per cent. The
State Of Mississippi has called an ex-
ira session Of the legislature and Gov.
Noel said he would take advantage of
this to present the plan, but that being
30 near New Orleans 1t was hardly
necessary. as they were now using
the warehouse facilities Of that city,
and the Louisiana plan is for cotton
from any State. The people are hold
Ing cotton out there; and it is up to
the eastern part Of the belt to do her
duty.
My opinion Is that the crop is
overestimsted Practically ali OF the
crop is gathered from here 10 New
Orleans. holding movement and a
perpendicular drop in receipts will
speedily drive the bears to cover and
put cotton up; and If We allow the
spot cotton to pass out Of our hands
we will see the middleman get the
profits this year."
"If South Carolina wants to do any,
thing, she should be up and doing 1t
occurs to me that what the State of
South Carolina needs Is not only an
interior warehouse system. but the
great central warehouse plan, located
at Charleston or some other deep
water point.
"If when the currency commission
reports a plan to congress for amend
ing the present national banking laws
1t would recommend that congress
make these State warehouse certif-
Gates the basis for a currency issue,
the problems of elasticity and an
elasticity and an emergency currency.
which would retire itself automatical-
ly would be solved for all time. I
think the State had better build some
cotton warehouses in Charleston in
stead Of spending that million dollars
on the State house."
Senator, it was reported that you
favor ed valurization on the Bra
lillian plan"
mo. said State valuation, and be-
ing a word Of my own coinage. | sup
pose the reporter got it a little mix
ed"
What about the constitutionality?
We'll, Louisiana found a constitu-
tional amendment necessary. I don't
know about South Carolina. Having
been engaged in the liquor business,
1t looks to me as If she might 60 into
the cotton business, and as there are
no rebates to corrupt her public Of
fcials in this. perhaps she could find
honest men enough to handle the sit
uation.'
Il