Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1911-10-11
AS 10 FINANCING COTTON,
President Dabbs Speaks Regarding
Local Methods for Aid.

The following from the Abbeville
Press and Banner will be Of interest
to the farmers in general, particu-
larly at this time, when many are
casting about in search of some
means whereby they may be able to
hold their cotton for a remunerative
price.
Mayesville, S. c., Sept rs, 1911.-
w. w. Bradley, Abbeville, S. c.:
Dear Sir-Your kind letter received,
and | trust Mr.. Aiken will be able
to join with us on his return home.
thank you for the offer Of the
use Of the columns of your paper for
presenting our cause to your readers.
am in receipt of letter from your
section of the State, some extracts
from which and the gist of my reply
thereto may be Of interest, and will
give your readers my idea OF the
practical working Of the union per-
haps better than set article.
My correspondent says: IL write to
know what banks are going to help
us hold our cotton. see big articles
about French-English syndicate fur
nishing money. The bank of ----
say they know nothing Of fund to
relieve cotton holders | have
debts, etc. l will join the union il
you show ME a nearby bank that
Will give me practical aid"
My dear sir, not only can ] not
show you a nearby bank; | cannot
even show you far-away bank that
will aid you in practical way if
you wait for this aid before Joining
the union. The thing for you to do
IS to join the union. See that you
have ogranized union that will
command the respect of the banks:
get your county organized; ask the
banks of your county to meet a COM
mlttee OF your county union. Pre-
sent the facts of the situation in
conservative way to your bankers,
and my word for it, they will find
fund, even If they do not know about
the fund-or they are not worthy the
names of banks. If they are so
"moss-backed" that they do not
know how to find a fund in such n
time as this, you farmers had better
withdraw your funds from their hide.
bound walls and organize your own
banks.
You will doubtless see in the pa
pers before this reaches you an ac-
count of the meeting in Sumter. Az
ter hearing from the delegates to
Montgomery and discussing, in a
general way, the situation, and the
time that would elapse before the
French-English money could be
available. banker proposed that
the banks Of Sumter secure an extra
fund Of 100000 to be loaned on
warehouse certificates at per cent
interest, and in the meantime to
take care Of all cotton receipts offer
cd them. The question was asked,
would the farmers use this money?
for, by the way, they have been
selling cotton, and it did not look
like they cared to hold. Upon as
surances being given that they would
avail themselves of this money, the
bankers Immediately went to their
directors meetings to put into ope-
ration the necessary machinery to
secure the money AS one banker
remarked, "This thing must be done
quickly, for the pressure is now"
Some three years ago when a SIM
liar condition prevailed, (only cot
ton was then at SA cents), individ-
uals had not been able to effect
loans. and bankers did not know
what to do, the county unions ap-
pointed committees to wait on the
banks, and we held a joint meeting,
with the result that from that day
we had the cordial support of our
banks. Our union has tried to pre-
sent only facts, to do so in conser-
vative way, to point out to the banks
our needs, and ask them as our fis-
cal agents to find the funds. for that
Is in their line Of business. And we
have never been disappointed in
them. Almost without exception our
business men are willing to make
sacrifices by extending part of their
accounts, because they know the
profits from higher prices will go
iptn t1,n 11,n ,,,l,, ~c