Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1912-01-23

capitalization, his products must pay
a profit on II all.
Certain legislation, comforting spe-
cial privileges. Is the foundation OF
the swollen fortunes of this country
Andrew Carnegie Is reported to haye
said: TO die rich is to die disgraced
He may endow libraries. build church
es and colleges. but he will have to
hurry to keep from dying disgraced
for the hundreds Of millions which
you and I helped to pile up every
time we bought a plow, hoe or trace
chain gathers more and more each
year. We have seen In one genera
ltion Jay Gould start business with q
patent mouse trap, and In twenty-five
years capture one-third OF the rail-
roads and one-half the coal mines OF
the country Hill. ditching on rail-
road. and Rockefeller from behind the
Icounter of a country store, retire with
hundreds Of millions. all based on
monopoly. They fixed prices with due
Iregard to the laws Of supply and de-
mand. then they market at that price
land hold Off when there is no demand.
That Is what we must do with our
cotton. We need not go so far to look.
sometimes things right at Us are hard
est to see. There is a town up In
Pennsylvania, In the heart OF very
rich oil region. / heard a curious
story Of about how one Of the great
fortunes of this country was made.
THE farm upon which this town Is
situated was owned by a young man
before the oil business In Pennsylvania
was developed. He thought that he
would like to 90 into oil, and he wrote
a cousin of his In Canada, who had
made q fortune, and his cousin told
him to 90 to certain schools and study
mechanics, chemistry and geology He
sold his farm and went to college. and
after a three-year course went to
Canada, where he worked the balance
Of his life at a salary.
"One day the man who bought the
farm saw a plank fixed across little
stream where they watered stock. He
asked what that was for. and was told
that the water had oil on 1t and the
plank held 1t back so the horses would
not drink. He got some of 1t, had 1t an
alyzed, and opened up one Of the rich
est oil regions in the world. l believe
the means to rescue cotton from Its
uncertainty and poverty are right at
hand. / believe that Louisiana has
offered us a solution of the cotton
problem, based upon the principle that
II Is a proper function Of the govern
ment to conserve and defend proper
lty and the profits thereof from in
jury, whether such injury Is incidental
to legislation or arises from the selfish
design Of certain classes or individ-
uals
"Our monopoly in cotton does not
depend on special legislation. God
gave II to u.s. and safeguarded its pos
session by climate and soil. Let the
legislatures Of every cotton state fol-
How Louisiana and boldly say to the
world from now henceforth and for
ever we intend to have a monopoly
price for a monopoly product.
I'm amount the agricultural inter-
ests of the United States represents
an investment Of $4,000, 100000, as
against $4,000, 100000 in trade and
manufacture.
rs not governmental action to con-
serve this vast investment by protect
ing profits we'll within the functions
Of government?
II most heartily endorse every plan
for curtailment of acreage in 1912,
and have always practiced dfversi-
fcation as the basis of successful
farming. but the fact remains that
cotton Is and will always be our staple
money crop. -.
"The world needs all of the present
crop. I do not believe that 1t is In
excess Of the needs Of the world.
Production Of cotton has not kept
pace with the increase in consump-
tion during the past twenty years.
At the average percentage OF 81
per cent annual increased In con-
sumption, by 1920 the world will need
20, 100000 bales Of American cotton.
| Who will say that we can make 1t,
and II made. how will 1t be gathered
without importing labor or perfecting
some mechanical device to pick 1t?
II have seen the statement from a
recognized authority on cotton that OF
the estimated worlds production Of
500 000, 900 people, 500,000,000 regu-
larly wear clothes. about 750,000,0OO
are partially clad and 250,0O0,OOO
habitually go naked, and that to clothe
the entire population Of the world
would require 42,0OO,000 bales Of cot
ton weighing 500 pounds each.
"A study of consumption figures for
the past twenty-five years irresstibly
leads to the conclusion that there Is
practically no limit to the possibili-
ties in that respect. AS civilization ad-
vances the cotton industry will ex-
| pand, until the inhabited earth Is
clothed with the products Of our
fields. for cotton at Is cents Is the
cheapest material for clothing known
to man.
The Real Issue.
THE problems confronting us is not
decreased production, but OF how In
creased consumption can be prevented
from confiscating our profits and turn
ing the bounty Of nature into loss.
The Louisiana Plan.
Il believe that in providing an ade-
| tn nf hn4nCe
that the state Of Louisiana has point
ed out the road to success.
Experience has demonstrated that
nothing short Of governmental regu-
lation will be effective.
THE system in Louisiana was the
outgrowth Of city ownership of ter
minal and warehouse facilities. / re-
gret that did not remain in New Or
leans long enough to familiarize my
self with every detail. The system was
operated for three or four years sue
cessfully by the city through It's dock
board.
while greatly reducing the cost
per bale Of handling and storing cot
ton, yet. they had a profit OF $685. 600,
| am told. when taken over by the
state.
1T was found, however, that while
municipal was a vast improvement
over private ownership, that still the
plan was not comprehensive enough
to meet the situation, so they enlarged
into state ownership and control
Even with the great city Of New
Orleans signing the warehouse re-
ceipt. 1t was still confined to the local
banks. a better paper carrying more
borrowing power than the ordinary
warehouse certificate, but still not
what they wanted.
"Py an amendment to the consti-
tuition the dock board was authorized
to use the great seal Of the state. and
the person storing cotton Is now given
a receipt from the state Of Louisiana
The state Is also constructing a great
central warehouse Of iron, concrete
and steel, which, when completed, Will
be the largest in the world.
THE state does not propose to buy
cotton nor to lend money on cotton
but to provide storage at a minimum
cost. and certify that so many bales
Of cotton, insured and of the grades
named, will be held and delivered on
the production Of the receipt. The
receipt from the state gives to the
l,o1 of