The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1914-11-25
LOAN FUND Is NOT ALL
FARMERS MUST CUT OUT COTTON
AND DIVERSITY CROPS.
Mcadoo Says Bankers Can Exert In
fuence In Shaping Character OF
Crops by Conditioning Loans.

Although the $135,000,000 cotton
loan fund has been completed, OIL
Gals Of the federal reserve board and
the treasury department declared
Wednesday that the South must In.
troduce a diversification Of crops and
reduction Of cotton acreage next
year to get the full benefits from the
fund and insure material increase
in price OF raw cotton for next years
crop.
Secretary McAdoo, in a statement
called attention to "the other press
ing and important problem" with
which the South must deal. He urg-
ed the raising of food products which
he predicted will find ready market
particularly if the European war per-
sists.
THE Southern farmer" said Mr..
McAdoo, therefore has an unusual
opportunity now for changing exist
ing methods and habits with certain
profit and permanent benefit to him
self" He Suggested that the depart
ment of agriculture would gladly out
line methods OF crop diversifcation
suitable to different localities and
added that bankers had an excellent
opportunity to aid IN this work BY us-
ing their influence to direct the char
acter Of crops BY imposing proper
conditions" upon advances to farm
ers.
"The farmers OF the South" con-
cluded the statement, "ought to wake
up to the importance CT crop diversi-
fcatioti. There never before was a
time when they could wake up with
such certain profit to themselves.
Members Of the reserve board were.
inclined to believe that present con-
ditions pointed to a decided reduction
in cotton acreage through influences
outside the cotton-producing states
and predicted that with acreage re-
duced Gotten would 60 to q normal
level next year.
General supervision Ct the cotton
loan will be under the federal reserve
board With the recently appointed cot
ton loan committee in active charge
of the work. Mr.. HcAdoo's state
ment said in part:
"The plan gives the cotton loan
committee power to appoint commit
tees In each Of thescotton-producing
states Of Alabama Arkansas, Florida,
Georgia, Louisiana. Mississippi North
Carolina, Oklahoma, South Carolina,
Texas and Tennessee to assist II IN
carrying On the practical work.
"While the creation Of the cotton
loan fund and its use under the plan
viii have a far-reaching and benef-
cial influence upon the cotton and
business situation, nevertheless the
attention Of the South should not be
drawn away from the other pressing
and important problem with which it
must iate1Iigently and effectively
deal, namely, material reduction OF
cotton acreage IN 1915, and the rails
Ing of food products on a large part
Of the acreage heretofore devoted to
cotton.
"Not only will crop diversideation
help the prosperity Of the South but
the mere assurance Of a large de-
crease in the cotton crop next year
will Immediately enhance the value
Of the present crop. The food pro-
ducts Ehich the South can advantage
ously raise on & part OF the acreage
will find ready market at profitable
prices, even If the South itself can
not absorb them with greater adran-
tage than by buying supplies from
neighboring states. II the war In Eu-
rope Is protracted, the demand for
foodstuffs will grow in volume and
intensity and must be supplied IN
large part by this country.
"The bankers also have an e1cep-
tionai opportunity to aid In this COM
mendable work. They can, in large
measure, influence the character OF
crops by imposing proper conditions
upon the advances they may make to
the farmers. Where the bankers are
not dealing direct with the farmers
the merchant who supplies the neces-
sary credits can exert the necessary
influence.
81 earnestly hope that the farm
ers, the bankers and the merchants IN
the South ali cooperate with each
other for the purpose OF materially
reducing the cotton crop IN 1915 and
securing satisfactory crop diversitl-
cation. Not only should the South
ern farmer plant food crops, but he
can raise cattle and poultry with
great benefit to himself and the coun-
try at large. He can not do this
bowaver unless he reduces cotton