Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1913-04-30

iut0 ~ lllS SOIlOh Ill InS HdUUS
Of any bona fide holder. The holder
Of the receipt must receive on de-
mand the identical bale, or bales,
described in the receipt. This re-
quires such cooperation on the part
Of the growers of cototn as | do not
think will ever come, except by in
voking the powers of the State gov
eminent.
The State is not to buy cotton; it
is merely to provide a warehouse
where my cotton is stored, and
charges me SO much per bale for
storage.
The State is not to loan money; it
merely gives me a receipt which will
enable me to borrow money in the
regular way.
The State is not holding cotton;
she Is providing storage; ] am hold
ing or my w benefit.
The State, in her sovereign capac-
ity, says in this receipt that John
Doe has II hundred bales in my
warehouse and gives the number.
weight and grade of each, with the
marks, so that the identical cotton
named will be delivered on presen-
tation Of this receipt. Certainly
there could be no finer collateral in
any OF the money markets Of the
world, because cotton, properly
cared for, w deteriorates. 1t is
also the II farm crop easily con-
vertible into gold at a moments no.
tice.
A bill embodying these general
principles passed the South Carolina
Legislature in 1911. and received the
signature of the Governor. 1t was
carried before the Supreme Court
and declared unconstitutional on ac-
count of a provision for a bond issue.
The court, however, emphatically ad-
mitted the right of the State, within
the exercise Of her police powers, to
build, equip and operate a warehou. .
system such as I have described. And
' - III Sdi olllld COCSOn
Is the basis of u civilization.
If trusts and combinations, many
or which have been declared by the
Federal Courts to be "conspiracies
IN restraint OF trade" IL tho price
Of what consume, Is n q tho duty
OF the govern msnr 70 protect me IN
. 'air Tu'urn for The products Of n,y
labor
Certainly the cotton crop of the
South, supporting directly one-ffth
or our population, and affording en-
ployment in it's manufacture to as
many more, besides being the chief
factor in maintaining the nations
balance of foreign trade, is worthy
OF governmental protection, and the
protection of its profits demands the
consideration of wise craftsmanship
and true patriotism without regard
to section.
We have solved the problem of
production. Lands planted by my
grandfather, making about one-half
a bale, are 10 producing nearly two
bales to the acre.
We do not need government ex-
perts to teach us how to grow the
~proverbial 1.-TWO blades Of grass
where n grew before" Let them
Keep the other fellow from getting
our grass as well as his own, and the
problem is solved.
1t is a problem Of distribution, not
of protection. / do not hesitate to
say that if 1 could be assured of ff-
teen cents for five years, that at the
end Of thai period l would have my
lands making so per cent more than
they do now. The mechanical cot
ton picker renders the harvesting
possible if only my profits were suf-
ficient to Justify the investment.
The attempt Of the Federal gov
eminent to settle the trust question
by prosecutions under the Sherman
act was a failure because they
sought to destroy, not to regulate.
The reading into the act by the Su-
preme Court Of the qualifying words,
"in reasonable restraint Of trade"
was, | suppose, a piece OF judicial
legislation absolutely necessary to
keep the business of the nation from
being destroyed by putting all Of our
great captains OF industry in prison.
Anyway, it means that the trusts are
here, and here to stay. The trust is
an evolution toward cooperation,
and has educated and prepared the