The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1914-08-19

followed Mr.. Watson and eXplained
what the committee of senators and
house members had been trying to do
| since the European war began. He
told about the working of the Vrce-
land-Aldrich currency bill and the
new federal reserve law.
Congressman Lever of South Caro-
lima made timely address dealing
with the agricultural aspects of the
situation and said that he knew little
of the financial and banking side of
the matter inasmuch as he was chair
man Of the house committee which
dealt with making crops and not with
/ financing them.
The governors Of the various cot
ton States" Mr.. Lever said, should
convene the legislatures in session
Immediately for passing Il law that
will admit of u warchousing plan"
lie then dealt at length with this sub
ject lie said that a bill for licensing
warehouses would undoubtedly be con.
sidcrcd by congress immediately. He
then referred to his cotton grading
bill and said that at the present time
cotton grading was done in a care
less manner and that his bill would
regulate the matter thoroughly.
with u surplus crop left on hand
this year" MIR. Lever said, Eve will
be faced with the question of cutting,
down the acreage next year and this
is something that must receive attcn-
! tiOn now"
| Congressman Byrnes of South Caro-
lima discussed the financial side of the
matter and said that there were three
things which. should be done. The
people should urge the national banks
to form national currency associa-
tions; State banks should be urged to
come into the federal reserve asso-
citation and the federal reserve asso-
citation should be put into operation in
October or November at the latest.
AT the afternoon session Senator
Ransdcll Of Louisiana addressed the
congress. lie urged that anything like
valoriZatiOn scheme be put out of
mind. He declared that legislation
now pending would make it possible
to obtain all the money necessary
through regular channels and would
permit the holding Of cotton on farms
or at least in the community where II
is raised. by making the Vreeland-
Aldrich law apply to State banks, to
new banks that have no surplus, and
to small banks, Senator Ransdcll told
the congress, he felt certain the
greatest obstacle in the present crisis
had been met.
AS to warehouses, he said, these
could be constructed by erecting q
platform surrounded by u fence and
tarpaulins could be used for covering
the cotton.
1t developed today that the cotton
farmers are now nearer out of debt
than at any time since the war and
wOulh probably have required less
help from the banks this year than
in any previous year had not the war
como on
South Carolina was the first Of the
States to register at the request of
MIR. Watson. Among those present
were: j. q. Anderson, Rock Hill;
Alexander Long, Rock Hill; Bernard
Manning, Sumter; Il. w. Dabbs, Sum
ter; j. w. Simpson, Spartanburg; r.
Is. ThackstOn, SpartanburS; y. Il. Cal
vert, Spartanburg; II. GOODWIN Rhett,
Charleston; J. f. Maybank, Charles
! ton; John l.. McLaurin, Bcnnettsville:
Francis III. Weston, Columbia; Bright
Williamson, Darlington; Il. II. CASTOR,
Cheraw; B. +. Taylor, Columbia; Col.
Willie Jones. Columbia; w. l.. West,
! Columbia; Il. ii. Gadsdcn, Charleston;
B. T.. Mcleod, Charleston; John Nj.
kinard, Ncwbcrry; Col. William
Banks, Anderson: DR.. Wade Stack
house, Mullins; Nj. V. Richards, land
and industrial agent Of the Southern
railway; j. Il. Pride of the Scaboard
and others.
In addition to this list there were
perhaps twice as many more present
when Mr.. Watson called the congress-
to order and the Palmetto State men
were joined at the meeting by all the
South Carolina congressman who are
now in Washington.
1T is apparent that while the Sit,la-
ton is 10 grave one there is Il note of
optimism running through the discus
SiOns being had here. what we must
} 4, th in.