Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1915-07-30
FRIDAY, JULY 80, 1915.

with MI on this! asked the SpedkeT,
who observed that the southern farm
ers seem to be catching 1t. II 1t
the boil weevil 1t is the bull-headed
European nations.
No one has ever heard me say q
word against warehouses-any kind or
warehouses, said Mr.. Finley. The more
warehouses we nave in this country
the better for the southern farmer.
We should have enough 10
lake care Of forty per cent OF the cot
ton crop.
The speaker advocated diversified
farming and was glad to see York coun-
ty farmers making such rapid progress
in that direction. He deplored the UNI
stable market in this section for such
crops and declared that We would have
to make preparation to dispose Of such
products.
In concluding Congressman Finley
discussed the question Of rural credits
at some length. The average rate OF
interest paid by farmers throughout
the country Is s 1-2 per cent. Congress
Is now considering the.idea or enacting
a measure whereby the farmer can use
the crops which he produces to some
advantage, since they may IN the fu-
ture be regarded as security Tor loans
Hon. A. r. Lever.
Representative in congress from
the Second district and chairman OF
the committee on agriculture, was the
first speaker after dinner. he maze
quite an interesting and instructive
speech in which he explained the ope-
ration Of the Lever cotton futures
law. told about q Federal warehouse
bill which he had introduced and
which he expected to pass at the next
session Of congress, discussed the
pending ship purchase bill, n palo
a glowing tribute to the sagacity and
determination and grit Of President
Wilson.
Mr.. Lever arose before a friendly
and sympathetic audience, n ne
Immediately proceeded to get closer
to his friends by repeating some OF
the jokes and anecdotes from n
large fund he has accumulated dur
ing his experience. The jokes and
anecdotes related mainly to himself,
and dealt with his youth at the time
he entered congress-, with his diminu-
| tive size and his dried-up personal
| appearance. He said this was his nj
ty-ninth speech since n LIST OF
| March and he was still feeling pretty
well and looking very well. He COM
pared himself with Mr.. Finley In
Il LOOKS, IluCh " ~
large portion Of the audience.
MI. Lever had intended to devote
| himself to other subjects Of very great
Importance; but since the discussion
| of the day had hinged very largely
| on cotton, he would have something
| to saw along that line also. He began
by discussing the marketing ques-
| ton, explaining how price depended
upon supply and demand, and now
| when the supply exceeded the demand
it was necessary to conserve Inc sur,
plus so as to keep supply and demand
in proper balance. 49,,
He told of a cotton warehouse bill
he had introduced and which he ex-
pected to get through at the next ses-
| sion of congress. This bill provides
for the Standardization Of cotton
grades and for receipts which guaran-
| tee title. weight and grade to the
holder. It provides for licensed cot
ton graders, bonded warehousemen
and all other considerations that go
to make up q thoroughly negotiable
paper. He had not studied the state
warehouse system sufficiently to give
a satisfactory opinion as to It's merits;
but endorsed the general principle OF
1t. However, the state system was NOT
calculated to give the same unques-
tionable character to a receipt that
was to be expected from the propos-
ed Federal system, the idea being that
lust as the state receipt had Its ad-
vantage over the private receipt, the
Federal receipt would be that much
better than the state receipt.
Mr.. Lever discussed at length the
operation of the cotton futures law
introduced in the senate by Senator
Hoke Smith, in the house by himself,
-- -4- .0,.0h hy fha fntnf Of
forts Of both after q long and tedious
fight against various interests that
were opposed to its passage. He cited
] the fact that the law had found full
justification last fall, for upon the
re-opening of the exchange after 1t
had been closed after the war began,
trading was commenced or contracts
under both the old and new style, and
the new form contracts invariably
sold at from 20 to 40 points over the
old. The principal virtue OF the Dill
was the requirement for the delivery
Of actual cotton Of standard grade,
and Of not less than seven-eighths OF
an inch staple, whereas formerly any
kind of trash was deliverable on con-
tract. He quoted Frank B.. Hayne as
saying that although this law Is still
in need Of revision 1t has already
saved to the cotton producers no less
than $50, 200. 000.
In discussing the necessity for an
adequate system of warehousing, MI.
Lever said that experts had advised
his committee that the weather
waste" in the south amounts to $40,-
O0O, 600 annually. you can put me
down absolutely and unqualiiedly In
favor Of the state warehouse system.
said Mr.. Lever, and II you have not
got a complete and satisfactory law,
you must go on and improve 1t until
you get 1t perfect.
Mr.. Lever discussed quite interest
ingly the discussion Of small packages.
and said that the express companies
of America are charging sixteen times
as much Is any European country Tor
carrying a hundred pounds a ndre
miles. He characterized the express
companies as mere parasites without
| tangible property or responsibility
and told how he was working on the
problem of reducing transportation
charges when the raj broke out. He
| hoped that much would be accom-
plished in this direction.
He discussed the presidents ship
purchase proposition and differentia-
ted between 1t and the subsidy prop
osition on the ground that purchase
went down a little deeper n the
/ puDllC ITedSuTy anu pEOSuiCo oLiPS
for the government ownership, while
the subsidy idea proposed to help In
| dividuals at the expense Of the whole
people. Although he had long been
Interested in the development Of ocean
transportation, he had not favored
the purchase idea very strongly at
first; but the more he had studied 1t,
the more h was pleased with 1t. He
spoke Of the opposition the president
had encountered to his idea, princi-
pally from the north and west; but
predicted that although the law had
not passed at the last session, 1t would
yet go through. He referred with
admiring enthusiasm to the presi-
dents determination and tenacity of
purpose, and said that heavy jaw was
like unto that Of a bulldog, and when
it once took hold. 1t could not be
| priced loose with a crowbar.
Mr.. Lever commended the advice
Of Senator McLaurin not to become
panic-stricken but to hold on to the
| warehouse system, back 1t up and be
patient. IF you will do this" said
| Mr.. Lever, II will almost gamble that
you will break the opposition to high
priced cotton"
In conclusion Mr.. Lever told how the
i oonf;p,onno nf ranrthltnan inafttu-