The herald and news. [volume] (Newberry S.C.) 1903-1937, 1912-08-27
UNION ADDRESS
ON COTTON SITUATION

The following address has been is
sued to the farmers, merchants and
bankers:
Beginning with last September, the
South, with dire disaster. threatening
the nations greatest money crop, has
been engaged in one of the greatest
economic struggles in her history. The
last year ended with a commercial
victory that perhaps saved millions OF
dollars to the growers of cotton and
to those whose business interests are
absolutely dependent upon cotton and
a fair price for that commodity.
The South is now facing another
cotton crop year and already the in
fuences that have heretofore been at
.play, at will, to manipulate the mar
keting of this commodity, which
brings back from Europe to this coun-
try s5OO,00O annually, and upon which
the stability of American finance and
the balance of the worlds trade in
favor of the nation depend, are again
at work, as is. evidenced by the de-
preston of the prices of cotton to the
extent of $40 per bale in the last ten
days.
The real fight for proper marketing
and greater stability of price must
now be fought, and it rests with the
producing, banking and commercial
Sinterests of the South to push that
fight upon sound economic lines based
upon business principles applicable to
changing international commercial
relations.
The time for decisive and concerted
action has arrived.
It has occurred to the undersigned
that no more appropriate day for the
taking of such action throughout the
communities of the cotton belt States
could be selected for the purpose than
Monday, September 2, which is Labor
day. 1t is eminently proper that upon
this day, which is national and State
holiday, those of our people who Ia
bor in. the fields to create the wealth
of the country, should meet with those
whose business interests are depend
ent upon this particular product OF
the soil, and determine upon fixed
policy in the matter of marketing of
the 1912 cotton crop. We unhesita-
tingly and most earnestly recommend
that this policy be the slow and grad
ual marketing of the crop. We most
earnestly call upon every banker in
the South, and particularly in this
State, to make such financial arrange
ments that will enable the banks to
render to the producer such aid as
will make it possible for him to avoid
the placing of all his cotton upon the
market at one time in the early fall,
enabling him instead to gradually
market it to the best advantage. We
would call the attention of the bank
ers and business men who are in
terested in the banks to the fact that
even if the banks did not get one
/, cent. of profit for advances to farm
ers for. this purpose ON cotton, the
!, increased volume of business would
more than recompense them.
:, We wish to take this occasion to
5, commend those banks in this and
other. States which last season, Sc
cured the necessary money to loan to
the farmers, and especially do we COM
mend those banks and bankers, which
this season, have come forward and
announced similar arrangements.
Other Calls Urged.
We most earnestly call upon the
A commissioners of agriculture of the
oSeveral States of the cotton belt and
the presidents of the several State Far
mers' unions to issue calls similar to
this one for meetings on September
2, to the farmers, merchants and
bankers of their respective States, for
the execution of the purpose outlined
above.
Realizing the impending danger and
IA onslaught that is being made upon the
H markets by the manipulating forces,
1--WE have after most careful delibera-
ton, determined to issue this most
earnest call, which we desire to be
understood as directed to each indi-
1,;5,oJ rorr,,or oaoh rnorohant and