The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1913-08-07
NOT ANNOUNCED FOR GOV.
Senator John L. McLaurin Says Let
EN- Sweat"

'
John L. McLaurin, senator from
Marlboro county, who was IN Spar
tanburg last night on his way to his
summer home in Hendersonvllle. eX-
planned his motives for introducing
the measure and some of its provls-
ions. He was somewhat reticent in
speaking of the gubernatorial race
next summer, but said, in referring
to the already announced candidates:
Let 'em sweat! What is the use in
having a campaign in an off year,
The interview follows:
"A reporter of the SpartanbuTg
Herald called my attention to an in
terview from Senator Tillman en-
dorsing the state warehouse bill, and
expressing the hope that it would be
passed Cor some similar bil) at the
next session of the legislature. 1t
was very gratifying to me, and high
praise for the bill. Certainly if Sen
ator Tillman says it will be of untold
benefit to the state. it must be true.
Governor Blease approved the
first bill, which, compared to the one
now have on the calendar, was
crude affair. The provision for a
bond issue in the first bill is what
caused the supreme court to hold
it unconstitutional. l think they
were right on that question and only
put it in because, had the bill been in
operation, it could have been carried
on. simply letting the bond provision
go. The new bill meets every objec-
ton pointed out by the courts. I
am not only satisfied myself, but have
the written opinion of R. W. Shand,
one of the ablest constitutional law
yers in South Carolina. l did not
want the bill passed unless I could
get a commission with the ability to
handle such a large and complicated
problem. I had tentative arrange
ments made abroad for financing the
certificates, and l drew the bill after
correspondence and consultation with
these people to meet every objection.
For instance, one great handicap that
any warehouse system now rests un-
der is that a certificate from ware
house does not give the grade of the
cotton, and when money is borrow
ed, how does the lender know but
that all the good cotton may be taken
out and low grades substituted and
the cotton not sell for enough to meet
the debt.
Again, under our lien law and
crop mortgage system, cotton may be
deposited in a warehouse and some
body may have a mortgage on the
farmers crop, and go and take the
cotton. A man in Liverpool or New
York cannot bother to hunt the rec
ords of the clerks office in Marlboro
county. The warehouse certificate
must carry absolute title to the cot
ton. 1t must call for the Identical
cotton on which the loan is made,
with the weight and grade of same.
The loss to southern planters comes
as much from undergrading as from
any other cause, and the state should
have sworn graders as we'll as weigh
ers. No privately owned warehouse
can command loans except in the To-
cality where it is known, and then
only with the personal guarantee of
collateral that English banks
owned warehouse, where sovereign
state would say Bill Jones has 1000
bales of cotton in a state warehouse
in Charleston of the following weight
and grades, numbering on the bales,
etc. This cotton will be delivered
on presentation of this receipt Once
it was thoroughly understood that the
grading, etc., was absolutely correct,
a certificate of that kind would make
some banking institution. A state
financing the Manchester mills, would
rather have than a South Carolina
state bond, because it could be even
more readily converted into gold,
The amendment to the currency bill
proposed by Ragsdale is right in line
with the warehouse bill. He and |
have been corresponding On the sub
ject and he has one of the ablest and
most experienced men in the house
backing him, Pat Henry. You watch
when they go On the floor of the
house; you will hear from Ragsdale.
He is not afraid, and he knows what
he is doing"
Asked about running for governor,
+bo eopo+or cold. ''NTo11 I'd lots rat h.