The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1914-11-04
Two Views of Bond Issue.
h. G. Rhett Presents Opposition to Plan for
Relief of Cotton Growers and J. II. Cliff
ton Defends Measure.

yet there are other aspects of tn,
question which it might be we'll tt
consider.
Second. Az to the justice ant
Righteousness of such legislation.
One of the fundamental principles
upon which our government is based
Is that it's laws shall be made to bear
upon all of it's people alike. That prin.
ciple Is carefully guarded through.
out, and Section 6 emphasizes it in re.
spect to lending the credit of the State
The members Of the legislature who
voted for this bill, I presume, con.
scientiously believed that they were
discharging their duties strictly in ac-
cordance with the responsibilities
placed upon them, but it would seem
clear that in their anxiety to relieve
the distress of some of their fellow
citizens. have entirely overlooked the
wrong which the proposed remedy
might infiict upon others Of their fell
low citizens. with the protection of
whose interests they are equally
charged. The people Of the State have
been given no opportunity whatever
to intelligently understand the ques-
tions involved. and the possible con-
sequences which might result. They
must vote blindly. following the lead
OF their representatives, in whose
judgment they have confidence.
The vote on Tuesday could hardly,
therefore. be anything more than a
vote OF confidence in the legislature.
1t certainly would not be that vote
which is contemplated in the Consti-
tuition.
Now. II the credit of the State could
be used for the protection Of one class
OF its people, or for the valOrization
OF one commodity raised within it's
borders, then it, Of course. could be
used for the protection Of other class
es. and for the valorization Of other
commodities. Would the people of
South Carolina be willing to lend the
credit Of the State for the valorization
OF lumber at so per cent. in excess of
it's present market price? Lumber is
now depressed almost as much as cot
ton. Would it do the same for naval
stores, which are likewise far below
their normal value? Would the peo-
pie OF the State De willing in future
years to utilize the credit Of the State
for the valOrization, at a figure far
In excess Of its market value, Of any
the price Of which, for
one reason or another might be un-
duly depressed? Can we doubt what
the answer would be?
Sympathy for distress tends to
warp our judgment and to make us do
things which In our calmer moments
we would not dream Of doing. 1t is
for this reason that we have a Consti-
tuition. 1t is for this reason that
amendments to the Constitution are
so carefully guarded. No one has
greater sympathy for the farmer un-
der present conditions than myself,
nor Is there anyone more anxious to
secure practical relief for those who
are suffering in consequence of the
present depression. but l believe it
would be q calamity for this legisla-
ton to be confirmed by a vote Of the
people on Tuesday next. 1t would re-
suit merely in buoying up the farmer
with hopes. which he cannot realize.
and will only involve him in greater
distress when he has to awaken to
that fact. No one, Of course, would
buy one Of these bOni, without q de-
cisiOn of the Supreme Court as to its
validity. After months OF litigation he
would find that the bonds are worth
less, and he would then be compelled
to sell his cotton at any price he
could get at that time.
Third. AS to it's expediency. Is it
wise
South Carolina has wonderful re-
sources and a soil Of great fertility. 1t
needs capital to aid in it's development.
1t has suffered for the want Of it too
long. Who would be willing to invest
capital in a state where it might be
taxed to the possible extent here in
volved for the benefit OF one class of
its citizens? Cotton has been selling
for between six cents and seven and
one-half cents per pound. This bill
authorizes loans on basis of nine
cents per pound. There are many who
think that cotton will not reach nine
cents per pound for a considerable Pc
riod Of years, and that this loan would
result in placing u permanent debt
upon the state of anywhere from So
600 900 TO $4,000 900 Whether that