The Anderson daily intelligencer. [volume] (Anderson, S.C.) 1914-1915, 1914-03-31
COTTON lgIIlEH1UsINR PLAN
By NO Mems 4. t.AEN. SCHEME
Charlotte Observer.

Charlotte Observer
The so-called Duke plan of ware
housing cotton, which has been so
much In the public prints within The
past several weeks,5 directs. attention
to several previous waretousGne un-
dertsE!aSs emhaaying almpat all of
the essential features of, the latest
plan. which have. been. launched ) IN
pFeyio ,s yeara but which for various
reaEorj were not carried through tn a
saccessful termination,
The fact shpaIa be borne IN mini
that all OF these plans .embody certain
primary features, without which the
undertaking would be failure before
It vas ever started. The. first of
these 10 the manifest requirement for
stability and ample backing, with
those safeguards hedeed about it so
that'the; character Of ihe collateral or
security offered must be above ques-
tion Expert grading, safe storage, de-
livery. etc, are other essentials. AS
to direction ana control there have
always been two seiIoois Of thoagR;,
one fayorite state regulation and the
other corporate control,
State VS.. Corporate Control.
Those who advocated state resula-
tion had. many strong textures; To ad-
vance and likewise those who favored
corporate control had many powerful
talking points in behalf of their plan.
Thus for instance q state-contPolied
institution would have the Endorsement
and backing of the commonwealth,
would be more .distanfly removed from
possible specnlative tendenotes:-tha
great maelstfona OF disaster to pre-
vious undertakings of this character,
and ina general wey would be clpeer
to the people In the operations. Cor
porate control has the advantage of
great possible efnciency in service in
that possible, political influence would
be absent, world have no territorial
Limitations as TO state borders and
would :nut be- dependent on any other
control save that of It's directorate.
OF course there are other 1eaIuras that
will occur TO the thinking reader biit.
space foRbtdss their Inclusion here.
Previous undertakings as for instance
the John Il McLanrin plan, calls for
state control; the latest Duke under
taking calls for corSnrate management
and control but ft,.- is no reason why
the goyerpment, soss Id not take. a
hand in overseeing tiiat everything was
done right. paSticniarly under the new
administration, the new currency. law,
|etc. 'is., Ft.is, i
Mr.. T916pkiRa' PIan.5,. ..
Mr.. d. A. Tompaihs of this CITY Ia
perhaps ths:nrs ftan:in the south TO
advocate sa plan very similar to that
Ehichlis In ,progTsss. Of colnDsetion ysad
what it known: % the Duke plan. .Afsny
years iago he evolved snch ai oroposis
tion. and In 1905 prepared,asperiai ar
ticie outlining his plan, which by rsa4
son OF It's timely interest ia. herewith
|reprodaee ThIs article. Dy Mr.. Temp.
kiHa was heade ..Sottd TO Eonafizs
snpnlg. l 2. az AND 3es lt foiloWA
Psps gtitSa issssi. q
4 This rs 10 platE 10 issue a certificate
On On cotton which iwonld atand good for
its sase storage land also foF titegrads
aug ehsIasteF @ t inc 20 aelaF-
ately dsterInifisd and defined by an.
- - .. 4.
expert tnat the certificate becomes q
oetser basis OF credit and better also to
purchase than the cotton itself WUuiG