The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1911-09-19
MONEY TO HOLD COTTON.

The big Cotton Growers gathering
at ntgomer came to the concur
sion. after hearing all reports, that
the cotton crop this year will be IN
the neighborhood of 100000, bales
and that the farmers should not sell it
for less than fifteen cents. MI Bat
rett. president of the arnler Union,
anounced that a French-Engiish con-
Germ will guarantee loans of Sl5,OOO.-
600 at six per cent, the loan TO De
secured on cotton and the plans to be
fixed by one Southern banker and two
members of the Farmers Union IN
consultation with representatives Of
the foreign syndicate. This action,
following the action Of the Farmers
Union in. Oklahoma, is worrying the
bears. Before this action was taken
there was evidence that the bears
were worried, and the following sen
sible editorial in the Columbia State
anticipated and defended h action
of the farmers:
An editorial correspondent Of the
New York sun, possibly on his way to
the convention of cotton growers at
NJ O1lS OIiciE, SlOppcu III AlIdIlld Jig
enough to send his paper a letter ridi-
culing the proposal of cotton growers
to hold their product until the manu-
~facturers need it, instead OF
on the market in four months the
worlds supply for a year.
Cotton bears appear not to like the
prospect of m becoming bust
ness men. If cotton growers are go
ing to prevent the sacrifice of their
product, bearing cotton will cease to
be a profitable business. Therefore
it is the policy of the bears and their
friends and sympathizers to belittle
any organized effort of to
protect their interests.
w hear from the Sun that in or
der to hole cotton SO the price can
be regulated, it will De necessary to
six million bales, and that
the warehouses and operating ex-
penses will cost fifty million dollars.
And nc one has yet Ventured to say
how the organized farmers are to get
the money" We continue to quote:
Where is this $50, 900, 900 to
come from, then? Of curse they
will lot go to the banks or the
capitalists, those bloated myrmi-
dons Of the ctopus, their heridi-
tary foes. Equally Of course the
money will be forthcoming, from
some ecStatlc source no DOUBT,
and meanwhile there is not a
cloud upon the horizon, unless it
be a very little one cast by that
more or less important statute
prohibiting operations in re-
straint of trade. 1t may be per-
fectly legal to make a corner in
cotton and to hold up buyers of
all classes until they yield to the
terms arbitrarily imposed by the
farmers acting in combination.
Acknowledgement Wickersham
will perhaps hasten to give them
a reassuring opinion on that
point.
1.-The farmers have hurled
their thunderbolt, and the new
crop is selling freely at II or II
cents as fast as the more needy
farmers can hurry it to market
Where people of one section get
out Of the soil that which sells for
approximately a billion dollars a year,
it will be easy for them to find fifty
or a hundred and fifty millions to
place the business Of, marketing their
product on a sound footing. 1t is
onIy necessary for them to organize
and to have their desires conform to
business principles. And after the
initial expense of providing ware
business will be relatively insignifi-
can't.
"The hope Of opponents Of the or
ganization of farmers that the anti
trust law will intervene and Illustrate
their self-protecting move Will never
be realized. There will be no VIOLA
ton of law
NORTH CAROLINA THROWS DOWN
r-H-uNr INT