The Anderson intelligencer. [volume] (Anderson, S.C.) 1914-1917, 1914-12-29
COTTON MAY BE HELD
AFTER DEBT IS PAID

The following is from the Columbia
State of the 2Sth:
"A thing Is worth what yot can
get for 1t in exchange" This is the
| fundamental principle Of trade or
| commerce.
| An ounce Of gold picked up by
| child from the sands of stream
where 1t Is playing is worth as much
IN the market as an ounce OF gold
for which miner has toiled O whole
year.
A hat or q pair of shoes In q mer-
chants store. for which he can get
81. is worth to him, as merchandise,
81. regardless OF whether 1t cost him
cents of Sc.
| A pound OF cotton for which l can
get cents in the markets. is worth
z cents. regardless Of whether that
pound OF cotton cost me cents or
90 cents to produce.
| We have q cotton crop estimated at
about 100000 bales. in 1914, prob
ably the largest in the history of the
industry,
| The demand for cotton, that Is the
demand in sight. is probably smaller
than any corresponding months in
past ten years or more.
| The demand for next three or six
months. or possibly IL months, is
lpIChlematical.
| Whai foundation is there for the
assertion ,-e often hear, "My cotton
Is worth 20 nts per mound and
will not take le NJ. it?'
II I have no. = against me
fand have ten Dai.s OIL lion in my
yal.. y Is my buSirCne. no one else's
what I do nth 1t.
| II l have stored ter bales of cot
ton In a warehouse and borrowed
money on It from the bank to pay
my obligations. then 1t is my business
and the banks only, what do with
the cotton.
II 1 owe local merchants 5000 for
goods they furnished me for the COM
iort anu sustence OF myself and fam
iiy, probably ever since first of the
year, and that merchant sold me those
goods on the security Of my honesty
and the hope Of my raising a crop OF
cotton and paying him for the goods.
then that merchant haa a Just and
equitable right In the ten bales of cot
Ton III my yard: and. II hnve any
regard whatever for honesty and right
Will consider his interests or wishes
as we'll as my own in disposition of
that cotton. :. :
know of no part of tho United
states where merchnts are moro lem
lent or lirerai in extension OF credit
to farmers than in the Southern cot
ton beit. believe that the farmer with
certain amount OF property or avail
abie resources, can secure a larger
liae Of credit in the South than in any
part or the United States. In view of
these facts. which I beli17e a careful
investigation will substar. tiate, can
the farmer afford to ign Jre his obli-
cations to those whom he owes in q
time like this?
Hold your cotton" "Hold your
cotton" This lias bcel the slogan for
past four months. Ills has been mis-
interpreted. think what was really
Intended was. PAY your debts and
then hold your cotton!"
l. agree with the farmers organiz-
atoms that Is is well to store large
part OF crop SO 1t san be marketed
gradually as demand develops.
But a man to hold his crop in de-
nance of his Just obligations is con-
trary to every principle of economy.
business. prudence. right or reason.
Credit" which plays 80 important
part In modern business. is founded
on confidence" that contracts will
be kept or obligations met promptly.
When confidence is DESTROYED busl.
ness must stop for readjnstment.
The farmers and consumers of
south Carolina are destroying the
confidence that the merchants have
been placing in them, and are doing
nothing less than forcing the mer-
chant: to do business on cash basis.
and those farmers who seem to have
so little regard for their obligations
Will almost certainly find that their
credit with the r;efchants next year
Will be naught. =.
The customer ci.f, NO more do with
out the merchant than the merchant
can do without the consumer. Each is
equally essential to the othern It is
equally Essential that each should
cooperate with the other. for mutual
good. y - - :
There 10 no doubt there has been
too much credit business done In the
south for the best interest of all.
The farmer should make an effort to
raise such products that there will
pe an income throughout tho year, In
stead OF all at one time.
for merchants to reduce credit
business go per cent at once woulN be
q crushing hardship to many farmers
and consumers OF the South, but un.
less there IL moro cooperation he
tween the consumers and merchanfs
there will ba more than one half re-
duction in credit business ii, south
Carolina in 1915 because the merchant
VIII be forced to do this to save them
selves from ahsol,1fn Y.1iio s y q &;