The times and democrat. [volume] (Orangeburg, S.C.) 1881-current, 1911-11-25
THAT LOAN PLAN
Pfesid: ut ef Saats Ealmss BsisR Does
MT Think Ii Necessary
WISH IT WILL Be GOOD

Wish IT WILL Be GOOD
Says Re Hopes That It Will be Help,
But he Believes That Its Object
Has Already Been Achieved, But
Is AL Depends On tho Farna-
orss
&. W. Dabbs. president of the
South Carolina Farmers union. Is
rather doubtful how the farmers of
the State will receive the plan OF the
New York syndicate to lend $50 a
bale upon the cotton crop of South
Carolina. Its SUCCESS will depend, he
said, upon whether the planters en-
brace the offer of the syndicate. He
also said that he could not see any
noticeable effect of the syndicate s
scheme, as he thought the main de-
sideratum to be obtained by the plan.
in his estimation, had already been
obtained through action by the Farm
ers' Union.
Nevertheless, il the plan seems
good to him when he has had time
to examine it's details, he will lend 1t
his heartiest support. He hopes, he
said, that it will prove successful in
helping the farmers to secure a fair
price for their cotton.
"While I do not wish to throw
cold water on the New York syndi-
Gates plan of advancing SIS per bale
on the South's cotton CROP" said Mr..
Dabbs Tuesday night, "I do think
that the promoters have overlooked
two points. One Of these, as point
ed out to G. 8. Barrett, president OF
the National Farmers Union, 10 tho
question whether the farmers will
embrace the offer OF the Northern
syndicate. 7 suggested to him that
instead of one trustee, as proposed
in the original plan, there should be
three for each State, and that one
member from each State should con-
stitute the central board of control.
GMr. Barrett seemed to think that the
more important point was to secure
the confidence of the financial men,
while I maintained that the farmers
trust should first be gained. To
this end I made my suggestion as to
the appointment Of three trustees.
"That second point that the promo
ters seem to have overlooked Is the
effect that will be produced by the
action of the business agents of the
Farmers Union, which urged that
the farmers refrain from buying fer
tilizer at high prices. Will make for
substantial reduction In acreage
even without the trustee movement.
II had thought that the effect CT
tying up 100000 bales Of cotton
in the hands OF trustees would be a
very strong tendency on the part OF
the farmers to reduce their acreage
next year. The knowledge that there
were 100000 bales Of cotton that
might be carried over until the next
crop was put on the market,
thought, would lead the planters to
see the futility of excessive produc-
tion.
"Thin purpose, however, think,
has been subserved by the present
conditions. With cotton selling at
nine cents and below, and with fer
tilizers high, think the farmers will
take the advice given by the business
agents Of the Farmers Union in their
meeting at Columbia. Conditions
are such now that farmers, By reduc-
ing their acreage and cutting down
their purchases Of fertilizers, will SO
curtail production that another eI-
cessive crop is unlikely. This, then,
disposed of one object OF holding the
cotton by the trustee system. This
condition seems to prevail wherever
have been OF late.
"Now as to the success Of the
plan. 1t depends, as l intimated be-
fore, on whether the farmers will
embrace the offer Of the lnanciers.
$50 far, J can see no notable ef-
feet. The action Of the Farmers Un-
ion business agents and the action
we took at Sumter yesterday will
prevent the sacrifice Of cotton to pur-
chase fertilizer. The matter OF re-
duction Of acreage will be accom-
plished by this means Without the
application of the trusteeship plan.
Judging by the Response to the
pledges to hold cotton and reduce
acreage, I do not think that the
planters will readily embrace the
proposition made by the syndicate.
81 should like to see the plan sue
ceed, but I fear 1t will not take with
the Southern planters.
~ am not at all antagonistic to
this plan; | will be glad to see any
! thing succeed that will inquire us a
price for our cotton which will give
us a profit. After have secured a
better knowledge or It's details. If it
meets my approval, I will give it my
hearticst support and cooperation. y
Mr.. Dabbs also explained the ac-
tion taken Tuesday at a meeting of
thn Enr,,,nrc, Irninn nllnd to Gisnns {