The Lee County journal. (Leesburg, Ga.) 1904-19??, 1912-05-23

" Tie Itrst cotJon SOFA through the
Corporation or otherwise.
First. It is realized that the only
way in which a fixed price for cot
ton may be maintained is for the
surplus cotton to be Withheld from
the market.
Second. That the people most
interested in doing tits are the
FARMERS.
r Third. That a way MUST be
provided for the farmers to HOLD
their cotton.
Theresore. 4c per pound is with
held from tine cash price for the
purpose Of forming a SINKING
FUND which will be INVESTED
in the surplus lotion.
It can be demonstrated BY fig
ures that &c per pound on the total
number Of bales raised viii take
care of one million bales Of sur
plus cotton, and it is presumed that
no crop will ever exceed four mil
lions Of surplus, for after this
amount of surplus had been created
the cotton growers would be put on
notice that it was in existence and
would recognize that that it was
their property as their money would
be invested in it and they would
see to it that the caop following did
not add to the surplus but rather
subtract from it.
Since it is proposed that cotton.
under this plan, shall bring 15c per
pound to the Southern cotton grow
er, wherever he may live, it will be
necessary to work out an average
freight haul Of cotton grown in the
Southern States and every bale Of
cotton will have to be added to the
15c (the original cost this average
OF freight rate, the warehouse the
insurance and commission chorga
making its selling price to the con
sumner. The farmer would stand
the entire expense of planting, cul-
tivating, picking and ginning which
would be covered by the 15c per
pound and the charge from his
hands to the mills being borne by
the consumer.
The farmer brings his cotton to
his nearest railroad town and if
there is no bonded warehouse he
ships his cotton to the nearest ware
house designated by the Secretary
OF his county committee, upon the.
shipment of his cotton he will be al
liberty to draw on the Corporation
for lie per pound basis middling.
of the cotton delivered to the rail-
road for the corporation, provided
he attaches a bona-fide bill Of lac
ing to the draft.
When the cotton arrives at the
warehouse it will be weighed and
sampled by a sworn and competent
officer Of Corporation and placed in.
the warehouse. The draft arriving
will be paid and certificate Of in
terest bearing script Is per cent, J
mailed direct to the shipper OF
the cotton for the difference Of
the amount and the value of the
cotton received. Should the cotton
be delivered to a bonded warehouse
OF the Corporation it would be
weighed and sompled by a sworn
and competent officer of the Corpo-
ration and placed in the Warehouse
the seller being given a receipt
showing that he had deposited
bales cotton Of classification
Tor which he is due by the corpora
ton 41c in cash and &c in 6 per
cent interest bearing scrip for mid
ding cotton. He can then attach
this receipt to the draft on the cor
poration for the amount of eleven
cents per pound. On the arrival
of this draft it will be paid and a
certificate of scrip for &c per pound
for the difference between the amt
of the draft and the valve OF the
cotton VIII be mailed direct to the
owner Of the cotton. In either case
the transaction will be closed until
the end of the ninety days period