The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1914-11-17
HOW COTTON CROP OF THE
STATE IS BEING FINANCED
Division of Markets Secures Opinions of Bankers In AL
of The Counties Where Staple IS ~Grown-Policies
Poooropopdod

State legislation in limiting next
years crop or in issuing bonds 70
finance the present crop are policies
which are urged by several bankers.
The need Of additional warehouse
space is rarely mentioned. Some far
mers do not understand that the in
dividual ank acting independently
cannot valorize cotton at ten cents a
pound. The bank can lend only on
the basis of the present selling price
Of cotton. BeCause arner are hold
ing their cotton for ten cents does not
enable the bank to lend on hat basis,
and will not until the cotton actually
sells at that price.
The need which is felt is for funds
to hold tho crop until a market de-
velOps. AS far as holding the crop
goes the farmer is doing his duty
holding like grim death. The great
est trial Of strength will be when
greater pressure is brought to bear by
manufacturers, jobbers and merchants
for the payments Of accounts. Then
farmers will also have to be cautious
about rushing cotton on the market
too fast, when prices are rising and
favorable for selling, just because they
have the cotton on hand.
The counties which are having the
hardest time in meeting h present
emergency are naturally those which
dIt relying IIlOSIly upon COllOA. ICuH
ties like Hartford, Edgecombe, Mar
tin, Duplin, Lenoir, Granville and
Wayne which produce tobacco n
peanuts or some other crop in addi-
ton to cotton do not nave so great a
problem in holding their cotton. A
banker in Granville county suggested
that he was able to end money on cot
ton to farmers in other places, as to-
baccO rather than cotton was the
money crop. This is the strongest
argument in favor Of Investigation Of
agriculture within the State. Far
mers who have been depending upon
cotton as their sole money crop should
either cultivate other crops or do bust
ness on a cash basis. A community
which is doing business on a cash basis
will be able to stand a ear Of poor
prices or a crop failure.
One policy recommended to far
merS Is for them not to carry their
receipts from other crops home with
them, but to deposit them in a bank.
The Granville county banker could
not have made the loans which he did
to farmers on cotton security, had the
tobacco of his community
boarded at home the money received
from tObacco
The farmer who is a depositor will
be looked after ever in an emergency
like the present one. While a farmer
who v deposits his savings in q
bank will have no standing at any
bank. At the very time when farmers
are most in need Of funds the ap.
plication for loans are greatest. Thu
available funds will not satisfy tn
!, needs of all. The banks customers
it's depositors, will be first cared for
Other farmers who may have equally
good security will not receive tn,
grant of a loan because they hav,
nnXOp t0kan thu fyn11hJa nf rooly;ne
t themselves known through depositin,
: their savings in prosperous times.
: Miscellaneous Policies Recommends
r by Different Bankers.
Less political gush, less red tape
: and more money."-Cumberlan'
County Banker.
S Enough money to loan on half o
County Banker.
o Difficult to get the National Bank
to accept u paper with bonded ware
house cotton receipts attached
Robson County Banker.
o Confidence and Co-operation."-
g Robson County Banker.
d Fewer landings Of funds; diree
It dealing Of large banks with countr
e banks."-Robeson County Banker.
Grant the same privileges of ere
dit to State as to National on tn
same security."-Wayne County Bank
o eF.
Let the fellow who is hopelessl
: il debt turn loose and start new. l.
If the man who is able to hole unit
- prices go up do So, stop crying har
rs times and get to work. Knock two
thirds of the politicians in the hea'
he enforce what laws we have befo1
lg making more. Repeal the crop lie
in law. Install the TOrrenS land tit
m system. Get the conceit knocked o.
Is by ACKNOWLEDGEMENTS Count
Banker
err 80 far as farmers are %Concernt
they should store cotton to relieve Il
ed present Indebtedness If possible, ar
n put future xpens on a war basis
de strict economy and realize that tn
,rt will be a crop Of cheap cotton at best
ed Franklin County Banker.
Of IF mills could and would buy CO
Ie- ton then we could handle the crop
-Franklin County Banker.
I .GUalorizatiAD Of OtCOn.'-Halif