The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1914-11-04
HOUSE FOR BOND ISSUE
BILL PROVIDES FOR LOAN OF
EIGHT CENTS TO FARMERS.
Substitute Measure Goes to Third
Reading in House of Representa-
tiyes BY Vote Of So to II.

The House passed to third reading
Tuesday night the substitute bill
from the special committee providing
for submitting to the people the ques-
tion of issuing s24,000,000 N cotton
bonds. The bill was sent to its third
reading by a vote of 5S to Al. The
vote was not reached until the bill
had been discussed until nearly 1880
o'clock. The bill as passed provides
for loaning the bonds on notes secur-
ed by warehouse receipts for cotton
at basis of cents a pound.
The following members voted in
favor OF passing the bill to third
reading: Addy, ]. ". Ashley, NJ. J.
Ashley, Atkinson, Baskin, Bethea,
Blackwell, Browning, Brice, Burgess,
Clowney, Creech. Daniel, Dantzler,
Epps, Eyais, Friday, Gasque, Good
win, Greer, Hall, Harper, Holley,
Hunter, Irby, James, Jones, Kelly,
Kibler, Kirby, Lee, Lilies, Long, Ly-
brand. Mcqueen, Molpass, Martin,
Mixson, Moseley, Pate, Pegues, Rid
die, L. NJ. Rogers. W. S. Rogers Jr.,
W. NJ. Scott, Shirley, Smiley, Stan
ley, Stevenson, Sturkie, Tindal,
Walker, Warner, White, Whitehead,
Wilbur, Ze:gler-5S.
The following members voted
against sending Il bill to third read
ing: Speaker Smith, Barnwell, Bel
User, Bolt, Towers, Boyd, Clement,
Cross, Dick, Halle, H. F. Harrelson,
Harvey, Haylsworth, Hiott, Hitchin-
son, Hutson, Johnston, Kellhan, Kirk,
Lumpkin, McAaster, Mcmillan, Mas
sey, Means ,Melf, Miley, Miller
Mower, Murray, Nelson, Nicholson,
Pyatt. Ready, Sapp, w. ". Scott, Sen.
seney, Sherwood, Strickland, Sum
mers, Welch, C. c. Wyche-41.
| Paired-Gray, aye; Fortner, no;
Robinson, ace; Moore, no; Odom
aye; Charles, no; Warren, aye, Van
derhort, no.
After the reading of the substitute
bond issue dill at the morning ses.
sion. Mr.. Stevenson took the floor
Mr.. Stevenson said that the commit.
tee had reduced the amount Of the
! proposed issue to S24,000,000 tc
avoid making the bonded debt of the
State exceed 10 per cent. Of the as
sessed value OF property il the State
Mr.. Stevenson made the sweeping
charge that the bond issue bill hac
been misrepresented by the press an6
was misunderstood in consequence
He said he proposed to tell the House
of the good that might come from the
bond issue and also of the evil ef
fects it might have He held that the
cotton crop was about to be sacri6cee
to satisfy the greed Of spectators.
Mr.. Stevenson went into the his
tory of the State bond issue of 81,
100000 made in 1888 to rebuilt
charleston after the fire, comparing
| the financial resources Of the State
then and now and declaring that thu
proposed cotton bond issue was no
inearly so much out of proportion tt
1.-THE States resources now as the Char
lesion bond issue was in 1888. HI
denied that the cotton bond issu,
LIQUID be radical or revolutionary.
I The Chesterfield member insisted
that whether or not there was 1egis
lation to that effect there would be /;
so per cent. reduction in cotton acre
age next year. In consequence, th'
price of cotton would go up when re
duction Of acreage was made plain b,
the government acreage report.
/ Mr.. Stevenson stressed the fac
that the provision was made for re
ftiring the bonds BY the sale of cottol
securing them. Hence, he could no
see how the bond issue would be I
| burden on future generations. H,
brought out the point that the bond
were to be loaned to the men wht
produced the cotton He gave it a.
his opinion that the bonds would. b,
accepted at par by fertilizer com
panies in payment of debts.