The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1912-11-16
FARMERS
UNION NEWS
Practical Thoughts for Practical
Farmers.
Conducted ky E. w. Dabbs, Pres
ident 8. c. Farmers Unien.)
Some Random Thoughts.

Some Random Thoughts.
The resolutions Of the County Union
speak for themselves, but a few lines
commenting on them may not be
amiss. For one thing the matter of
interest instead of discount on money
advanced on cotton. / have tried to
show the bankers Of Sumter that that
additional profit of discount over in
terest Is not worth the disadvantages.
The profit on a hundred dollars for
J whole year Is less than so cents ad-
ditional. for s months II would be less
than 40 cents and so on for shorter
periods down to less than 7 cents for
80 days. Now is 1t burdensome on
the borrower. The bad effect is that
when q man has paid discount which
Is nothing more than interest in ad-
vance. he Is not disposed to sell until
his borrowed money has earned the
discount. that Is until just before the
note Is due. A depressed market right
then will cause him to reborrow, af-
ter the End experience of renewing
his note. he is apt to sell. And it is
the fact that so many Of these selling
periods have found a depressed mar
ket that is responsible more than any
thing else for the reluctance of farm
ers to hold cotton.
Ii Is also on account of this dis
count feature of so many cotton notes
that the market is depressed to shake
loose the weary farmer. And OF the
attitude OF so many banks toward the
borrower when their notes become
due. If all cotton were carried on in
terest notes rather than on discounted
notes there would be such gradual
marketing as would prevent the slump
In the market At least that is the ef-
feet I think 1t would have.
My argument with the bank is that
the greater volume Of business, and
the more satisfactory sales at an av.
erage Of better prices would give them
really more profit than the discount
profit. 1t Is worth trying, but of
course would prove nothing unless
generally adopted and continued for
some years.
friend says saw mill companies
pay much higher wages because they
pay off In trade at three prices and
dock. not for half hour when it is
lost, but for a quarter Of day,
whereas the farmer loses so many
half hours for which he makes no
charge that his wages are really as
high. / would not be surprised II ne
Ia partly correct. The actual labor
that farmer gets may cost him as
much as the actual labor the mill
gets-partly in lost time and partly
In perquisites. However. that may
be. my argument holds good. and is
even strengthened. For If the farm
er is really paying 800 to $1.25 per
day for labor to make his crop, the
sooner he finds IL out. and figures his
be for him, and for the country.
On the other hand: The farmer who
Is doing his own work, he and his
family. whether he be white or black,
" doing an injustice to himself to his
family and to his fellow farmers. to
work his own crop and sell 1t on a
basis OF 80. 40, so or 60 cents per day
for his and his family's labor. He is
also very inconsistent to toll year in
and year out. assuming all the risks OF
seasons and insect pests for such
wages. and demanding or expecting
big wages when he works for one Of
his fellow farmers. while he puts his
crops on the market on the crystal
ized sweat" basis. in competition with
the farmer who hires his labor a.
high prices. and to the impoverish-
ment of the country ut large.
In all lines of work the labor cost
Is the biggest item. In farming many
of us proceed on the theory that it Is
the smallest item of expense. The
great cry of the agricultural expert
has been To reduce the labor cost, not
by cheapening il. but by making 1t
more effective. Mr. Poe Of the Pro-
gressive Farmer wrote series OF ar
ticles from China Japan, and India
last year. showing conclusively that
cheap labor IL expensive labor. May