The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1913-08-13

/ benefit the cotton mills, and would
draw tremendous amount of trade
from the other countries OF the world
which use our cotton. Farmers would
be encouraged to raise greater crops,
knowing that they could get a fair
| price.
| My understanding is that the Gov
ernment issues certificates for whis-
! key stored in bonded warehouses.
can see no difference between this
and receipts or certificates given for
cotton in similar warehouses-ex except
that the government gets revenue
J out of the whiskey, and Il would be
said that the owners of cotton would
not want to pay n tax This is true,
but they would be willing 20 pay
whatever expense necessary to get
a receipt countersigncd or guar
antced by the Government for chclr
cotton, corn or grain. There are
| three ways to accomplish this
The first is by private warehouses
similar to the one outlined above.
This method, however, is inai1uuate
to build warehouse, and that it
would not need banking capital in
that it would require it for only part
of the year. Some time ago listened
along this line, and he advocated
that wherever a few thousand bales
OF cotton were raised, to build ware.
houses. He meant we'll but evidently
ject. 1t would not do to build ware
houses unless they were practically
freproof and unless equipped with
fire protection, in order that contents
No one would loan money on such
contents uninsured. This method,
however. helps some locally, but my
thought is to get system that would
aid the entire country. These local
warehouses can borrow some money
at times, but this depends upon the
reputation Of the management more
than the capital stock Of the com
pany
The second plan is for the differ
ent states to go into the warehouse
business. This is big problem for
the people to consider and there is
great deal to be said upon both
sides. Some states might adopt such
a law and others would not.
THE third way, and this is my
solution of the problem, is, as above
stated, for Congress to pass an in
dependent warehouse bill. / do not
know that the National Government
would build, or that it would desire
to own warehouses, but it occurs to
me that it could recognize all ware
houses that are built according to
modern standards, and If it should
be thought necessary for the title to
be in the Government, it could lease
these warehouses for nominal
rental. Such warehouses then could
be declared to be ready to receive
Before this Is done, however, let the
warehouse company furnish the gov
ernment with strong bonds to pro-
tect it iii every way, and then let re-
ceipts be given by the warehouses,
countersigned by some agent of the
Internal Revenue Department. These
receipts would specify the weight,
grade, staple, etc. Let the ware
house company pay the Government
whatever expense necessary to Sc
cure the receipt-in other words, a
very small fixed charge. There will
be no compulsion upon anyone to
store the product, but in case they
| desire TO do SO they would have it in
a form which would be used as o
| collateral. The result in my mind
! would be that money would flow in
! the direction of the warehouses from
| all parts Of the country, and the own
ers would be, therefore, enabled to
market their products throughout the
year instead of being forced to sell
in panicky times. AS every one
| knows, cotton deteriorates but little
and there is a ready market every
day in the year; hence, money should
be borrowed upon it AT the very low
est rate.
realize the above suggestion is a
little bit revolutionary, but this is a
progressive age, and it is necessary to