Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1914-10-28
Bond Issue to Buy Cotton at Ar.
bitrary Price is Dangerous.

Bond Issue to Buy Cotton at Az
bitrary Price is Dangerous.
A scheme Tor floating bond is
sue to lend money on cotton is a
| good one, I think, but l am unal-
terably opposed to issuing ss5,ooo,-
600 in bonds to purchase cotton at
an arbitrary price" said BENJAMIN
R. Tillman, senior United States
senator from South Carolina, Fri
day afternoon to reporter of The
Columbia Record.
Senator Tillman spent the day in
Columbia, stopping at the resi-
dence of DR.. George H. Bunch,
14o4 Geryais street. Senator Till
man left Washington Thursday a
week and has been spending bis
time at hisrshome at Trenton. The
senator appeared in good health,
and there was ruddiness to his
cheek, but his voice was not as ro
bust and he did not speak with the
quick forcefulness as of yore. lie
weighed his words carefully and
spoke with calm deliberation when
talking to The Record reporter. He
said that he was enjoying as good
health as could be expected from
one who read his own obituary four
years ago. Will power, physical
culture exercises and strict diet,
he said, are the cause of better
health.
When asked if he had any ideas
along what line the South Carolina
general assembly should proceed to
relieve the present economic condl-
tions, Senator Tillman said that he
did not want to have the appear
ance Of ''buttin in;;" that he did not
think it would become an outsider
to appear to dictate to the legisla-
ture. However, be was opposed to
total elimination as being imprac-
tical, and stated that the only way
partial curtailment law, to his
mind, could be effective was to put
tax on the production of cotton
over a maximum amount to each
farm or person. He said, touching
on national legislation, that the
Smith-Lever warehouse bill is a
piece Of wise legislation, which
should be passed by the national
house of representatives. He said
that it's enaction into law would
help the cotton situation, in that it
would mean the valuation of cotton
warehouse receipts by the national
government, and such valuation
( would mean that they would be
convertible into cash.
In speaking of the bill before the
South Carolina general assembly
proposing to leave to referendum
vote of the people the foatation of
a $35,OOO,OO0 bond issue to pur-
chase cotton at 10 cents pound,
Senator Tillman said that it would
be unwise to issue any bonds for
the purpose of buying and holding
cotton at 10 cents a pound.
IF the legislature can set the
price of cotton at 10 cents q pound, :"
he said why cannot they make the
price of meat 20 cents pound? L
think such bond issue would be
dangerous and might jeopsrdize the
financial credit of the state"
However, if a bond issue was
passed to lend money to the farmer
on his cotton, without arbitrary
setting , price, Senator Tillman
thought such a piece of legislation
would be wise.
He said that he watched with in
terest the trip Of the delegations of
the senate and the house sent to
Washington to confer with W. 6.
McAdoo, secretary of the treasury,
and he thought the secretary would
have much to do with floating the
bond issue, if it is authorized. He
said that he did not know how the
issue could be hoated aud how the
state could get money on the bonds,
if not through the emergency re-
serve.-Colurabia Record.
A,l P-.ehyfor;an Razaar.