The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1914-09-05
SUMTER PLAN. ADOPTED.
COTTON GROWERS ACCEPT
SCHEME SUBMITTED TO THEM
BY II. IL. BELSER.
Fix Twelve Cents as Price-GOvcrnOrs
Will be Asked to Seek Legislation
Making Acreage Reduction Pledges
Enforceable by Law-One-third OF
Crop to Be Held.

hotel last night to formulate some
definite plans to stay the demoralized
CONDITION Of the cotton market, to
guarantee better price and to. curtail
the acreage for 1916.
The plan finally adopted was that
prepared by. the Sumter delegation
and offered by r. B. Belser of that
county. Its main provisions are:
That no cotton shall be sold prior
to October /, 1914, for less than 12
cents a pound. -.
That a Statewide campaign be
started at once to make provision to
hold as much as one-third of the crop
of the market for one year if neces-
sary, to guarantee the price Of 12
cents therefor.
That the acreage for the 1915 crop
be curtailed at least so per cent; this
estimate to be based on the 1914 crop.
Vigorous campaigns are TO be pros-
ecuted in every county to secure
TO render the agreement effective,
the president and the executive COM
mittee of the congress were empow-
cred to memoralize the governors OF
the nine cotton growing States to call
upon their legislatures to enact laws
to validate this pledge as to reducs
tion. 1t was argued that voluntary
agreements to cut down the acreage
or pledges TO raise only so many bales
to the mule would be Ineffective un-
less strengthened by the strong arm
Of the law. This amendment was Of
fered by w. A. Stuckey of Lee county.
w. F. Stevenson of Cheraw was
called upon for an opinion as to the
cOnstitutiOnality of State compulsion
in the matter of the proposed de-
creased planting Of 1915. He believed
that this act of emergency lay within
the proper, police powers, Of the
State. addicted two recent cases in
South Carolina to support this view.
w: d. Black of Barnwell offered a
substitute resolution, (which provided
that fertilizer companies and ;banks
be compelled to accept; cotton as coll
lateral for outstanding notes on q ~
cents price basis, the notes to be eX-
tended one year. He urged that the
agreement between the farmers and
the c1editors should be that the cot
tos should be held one year, if neces-
.sary. This plan, he argued, would re-
tire from 100000 to 100000 bales,
! on which the national banking system
would issue necessary funds. The
cotton manufacturers he said, would
consume the remaining 100000 or
100000 and would pay a reasonable
price therefor. 4
Senator E. D. Smith was present
and took a lively part in the discus
sion particularly in that relative to
the provision of funds that would en-
able the farmers to hold their cotton.
Emergency currency. under the AL
drich-Vreeland act, is to be placed in
the banks on 3 per cent basis.
with an additional increase of one
half per cent each month until the
interest rate has reached 6 per cent.
TO enable the farmers to procure q
better contract with the banks, Sena-
tor Smith offered a resolution, to me-
mOrialiZe congress to reduce the ex-
pense Of issuing emergency currency.
Senator Smiths resolution was
adopted without dissent, and reads:
"Resolved That this meeting here
by memorable congress to material
ly reduce the expenses Of issuing cur
rency under the Aldrich-
act to the banks, provided, the ben
efits thereby accruing be accorded to
tho planters dealing with the banks,
to the extent Of the reduction so pro-
vided."
Senator Smith favored the. idea of
compulsory reduction The condi-
tions, now, he argued, wers different
from what they We're ten years ago.
when the organization movement DE
gan. Then there was a market for the
cotton. though the price was low Now
the growers have planted and raised,
Il crop on the basis Of the world's'
annual consumption, and there is no
market to handle the crop. The great
est problem of all, he said. was how
to keep the commercial machinery
running, with the potential energy
'i"d up in the cotton crop. 1t was
important. he urged, that the value
OF the cotton stored be not destroy
ed ny over production next year.
The senator favOrs local storage