The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1914-09-10

the farmers in many a southern
county furnishing the bulk of the
banks deposits as is the case in hun
dreds of Western sections.
On the other hand, Mr.. Banker,
suppose you decide at this time OF
crisis that you will not 60 out of
your way to help the small farmer,
but that you will give your help
rather to your regular patrons, to
cotton buyers and city business men,
men with Dun or Bradstreet rat
ing" what then will be the result?
What else can be the result except
a deep and volcanic distrust Of our
barking system, and an irresistible
demand for an utterly new system
of rural credit?
Here is the whole situation right
now in a nutshell:
/. The government is ready to is
sue money enough to finance the cot
ton crop. That was the first thing
to be settled. Secretary McAdoo has
left no doubt on that point.
2. Warehouse receipts will be rec
ognized. At first it was announced
that some business man" of means
would have to endorse, but when the
folks got news of that through The
Progressive Farmer and otherwise.
they stopped that.
8. The warehouse need not be ex-
pensive but may be anything in
which bales may be kept out of the
weather and insured. 1t takes a
crisis to teach people things, and
this crisis has possibly been worth
it's cost to our people by teaching
that while regular warehouses are
good, they are not indispensa BILE.
The authorities say they will recog-
nize a warehouse companys certitl-
Gates if the warehouse consists of
only a few logs to keep cotton off
the ground, barbed wire around it
to keep out intruders, and a tarpau-
lin covering to keep the rain off it
provided it is insured.
So here are the three first steps
needed to save the Southern cotton
situation. First, the government
stands ready to issue the money.
Second, it will issue currency on
warehouse certificates up to Is per
cent of their face value. Third, the
definition of warehouse is made so
easy that a dozen good farmers and
business men may.~get together in
your market town at noon, organize
company, and have their ware
houses going before sunset.
These are the first three steps
needed to completely save the cotton
situation. The fourth step, gentle
men. rests with you bankers of the
South. It's your move. The matter
has been put up to you. You may
recognize the farmers warehouse
certificates if you will and save the
situation, and insure an everlasting
appreciation of your patriotism and
far-sightedness-or you may declare
yourself bound by ancient customs,
lend only to your regular patrons
and to town business interests, and
then wake up too late to find that
your day of opportunity has passed.
Our people know that money
enough can be had to carry the
crops. The only question yet un-
settled is whether that money is 60
ing to the man who produced the
crop or whether it will be held for
the help of the buyer and the specu-
lator.
Which shall it be? The language
of Lowell comes to mind,
Once to every man and nation
comes the moment to decide,
In strife of truth with falsehood
for the good or evil side
Some great cause, Gods new Mes
siah, offering each the bloom or
blight
And the choice goes by forever
'twixt that darkness and that
light"
This is the testing time of our
Southern bankers. l hope and be-
lieve that you will rise to the occa-
sion.
We want to print in next weeks
Progressive Farmer a list of Banks
That Will Stand by Our Farmers -
banks that will promise D to Sc
cure and utilize all emergency cur
rency possible needed to meet the
present situation, and GU to recog-
nize warehouse certificates from far
mers to the limit of their resources.
May we put the name of your
bank in this honor roll?