The Union times. [volume] (Union, S.C.) 1894-1918, 1914-09-04
COTTON GROWERS AC.
CEPT THE BELSER
SCHEME WITH
AMENDMENTS.
Fix Twelve Gents as Present
Price Governors Will Be
Asked to Seek Legislation
Making Acreage Reduction
Pledges Enforceable by Law
One-Third Crop to Be Held.
Wednesdays State J

wednesdays state.
Approximately 100 delegates, rep
resenting 27 counties in the State
met at the Jefferson hotel last night
to formulate definite plans to stay
the demoralized condition of the cot
ton market, to guarantee a better
price and to curtail the acreage for
1915.
The plan finally adopted was that
prepared by the Sumter delegation
and offered by R. B. Belser of that
county. Its main provision are
That no cotton shall be sold prior
to October 1, 1914( for less than II
cents pound.
That Statewide campaign be
started at once to make provision to
hold as much as one-third of the crop
Off the market for one year if neces-
sary, to guarantee the price of II
cents therefor.
That the acreage for the 1915 crop
be curtailed at least so per cent. this
estimate to be based on the 1914 crop
Vigorous campaigns are to be pros
ecuted In every county to secure
pledges as to this reduction.
Legislation is Sought.
10 render the agreement effective
the president and the executive COM
mittee of the congress were empow-
cred to memorialze the governors of
the nine cotton growing State to call
upon their legislatures to enact laws
validate this pledge as to reduc-
on. 1t was argued that voluntary
yreemeEs to cut down the acreage
efFfcfges -of1fy 80 marry ,,Dafrs
to the mule would be ineffective un-
less strengthened by the strong arm
of the law. This amendment was of
fered by w. A. Stuckv of Foe county
w. +. Stevenson of Cheraw was
called upon for an opinion as to the
constitutionality of State compulsior
In the matter of the proposed de.
creased planting of 1915. He Believed
that this act of emergency lay within
the proper police powers of the
State, and cited two recent cases ir
South Carolina to support this view.
w. ID. Black of Barnwell offered a
substitute resolution, which provided
that fertilizer companies and banks
be compelled to accept cotton as col
lateral for outstanding notes on a Il
cents price basis, the notes to be ex-
tended one year. He urged that the
agreement between the farmers and
the creditors should be that the cot
ton should be held one year, if neces-
sary. This plan, he argued, would re-
on which the national banking system
would issue necessary funds. The
cotton manufacturers, he said, would
conume the remaining 100000 or
100000 and would pay reasonable
price therefor.
This was finally accepted as an ad-
ditional resolution, supplementing the
Sumter plan. 1t was also amended to
the effect that fertilizer companies
should be called upon to agree to sell
only one-half the quantity of fertili-
ger next year as was sold for the last
crop.
Emergency Currency.
Senator f.. ID. Smith was present
and took a lively part in the discus
sion, particularly in that relative to
the provision of funds that would en-
able the farmers to hold their cotton.
Emergency currency, under the AL
drich-V -Vreeland act. is to be placed in
the banks on 3 per cent basis, with
an additional increase of one-half per
cent each month until the inte"est :
rate has reached per cent. To en-
able the farmers to procure a better
contract with the banks, Senator
Smith offered resolution, to mer,or-
lallZe congress to reduce the expense
OF issuing emergency currency.
Resolved: That this meeting mere
by memorialiZe congress to mate rial
iy reduce the expenses of issuing cur
rency under the Aldrich-Vreeland act
to the banks. provided, the benefits
thereby acruing be accorded to the
planters dealing with the banks, to
the extent of the reduction so pro-
vided"
Senator Smith Speaks.
Senator Smith favored the idea of
compulsory reduction. The condiA
tions, now, he argued, were different
from what they were ten years ago.
when the organization movement be-
gan. Then there was a market for the
cotton, though the price was low.
Now the growers have planted and
raised a crop on the basis of the
worlds annual consumption and there
is no market to handle the crop. The
greatest problem of all, he said, was
how to keep the commercial machin-
cry running, with the potential ener-
gy tied up in the cotton crop. 1t was
important, he urged, that the value
OF the cotton stored be not destroy
ed over production next year.
The senator favors local storage
in open yards, if necessary, surround