The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1914-11-07
DElsER DISCUSSES SITUATION
DEPLOREs TALK OF HARD TIMES
AND TELLS WHY.
says That Total Loss I'm State Cannot
Exceed ssO,OoO,OOO and This Will
not Bring About bankruptcy.
The State. Nov. 4.

The State. Nov. 4.
*. b. Belser of Sumter. one of the
most conservative members OF the
house Of representatives, gave The
state the following interview yester-
day before he left Columbia:
There has been so much talk of
the generalization Of all business in
the state and so many statements that
the whole State was facing bankruptcy
that think II worth while to call the
attention Of the people of the State TO
few facts that will show conclu-
sively that no such conditions exist.
THE annual production Of wealth
In South Carolina Is approximately
S300.000.000. distributed normally
about as follows: Value of cotton and
cotton seed. ssO.OOO.0O to 500, ,OOO.-
600; value of other farm products. in
Guiding corn. small grain. hay. truck,
tobacco and live stock. about $50, ,000,-
600; cotton manufactures. about $685.
100000 to $50. 1000 900; oil mil prod
ncts. s12.ooO.oOO to $1,000. 900; ferti-
lfzer and miscellaneous manufactures,
$40,000.000 to S50.000.OOO.
"Of this $500. 900. 900 of wealth an
nually produced In this State the
cotton crop will possibly bring $25,-
100000 to $50. 900. 900 less than usual
the cotton mill products will hardly
fall OF In value exceeding $4,000. 900
to $4,000. 900. and. IL present indi-
Gated demand keeps up. the greater
volume Of products may be worth
fully as much as In the past few years.
Allowing $4,000. 900 for the falling off
In value Of other manufactures, the
total decrease of wealth produced in
the State will hardly exceed $780,
900. 900.
ut can readily be seen, therefore,
that with an annual production Of
$300.000.000 and an indicated falling
of In value for this years production
of not exceeding $50,OO0.OO In the
total wealth produced In the State.
there can be no good reason for the
frequent statement that bankruptcy Is
facing the whole state by reason OF the
low price Of cotton. Furthermore, II
must not be overlooked that we are
this year producing 1900. 900 bales of
cotton at practically the same expense
as In the past two or three years we
have produced from 100000 to L.
$4,000 and that the value. Of the ad-
ditlonai bales Of cotton should be de-
deducted from the loss estimated
above.
Now let US look at the situation
from the viewpoint OF the aggregate
wealth OF the State as a whole. The
total property as assessed for taxation
In SSoo.000.000. which indicates not
less than a billion dollars as the ac-
tual value Of the property (and prob
ably even more. as the average as
sessed value Of the property Of the
State is probably less than 80 per
cent. Of the real value.) Now IL the
State loses $50. 900. 900 for uue year.
or even for two years. II would lack
great deaf OF bankrupting the State.
The proportion would be the same IL
a man worth $4,000 should lose $500.
or IL the same conditions should con-
tinue for two years that he should
lose $1,000. Admittedly such q man
woul' be far from insolvent.
IL Z US therefore stop this foolish
talk about the State facing bankruptcy
and get down to work to meet and
overcome the conditions as they exist.
IL is going TO be necessary to econ
omize and cut out all unnecessary
luxury and expense. But every man
who gets down to work Is going to
pull through safely and be ultimate
ly benefited by the enforced restraint
from the tendency to extravaganza and
wastefulness which was becoming all
too general