The Anderson daily intelligencer. [volume] (Anderson, S.C.) 1914-1915, 1915-01-13
up TO THE BANKS"
TO HELP FARMERS
DABBS DISCUSSES COTTON
SITUATION
MUST ASK FOR AID
Head Of FaFEnefs' Union Favors
Liberal Policy on Part of Fed
eral Reserve Board.
MUST ASK FOR AID

Carolina State Farmers Union, has
addressed the following communica-
| lion to the people OF the State:
Il have been giving a great deal of
| thought to the various schemes to re-
| iieve the cotton farmers OF SOUTH Car
oiina and have come to the conclu-
sion that there are but two outlets
10 relieve us and to bring prosperity
10 every line OF business In the State.
Inc hrst is along the line of my re-
cent address urging the farmers and
the bankers to make use of the dis
count feature OF the new currency
law relative to advances already made
or to be made on agricultural prod
ucts. l have In the past few days
learned chat almoet no paper has been
presented 10 the reserve hanks for six
months loans with the privilege of
renewal. Some bankers have inform
cd their customers that they can loan
only on cotton for four months with
out the privilege of renewal It seems
tnat the reserve board has made such
rules and restrictions that completely
nuilify the plain mandates of the act
| ! want 10 see a concerted pressure
from the farmers and the bankers
that VIII force the reserve board to
De as liberal as the act in their deal
ing with the 70 rmers of the country.
IL is passing strange that the splen-
1iu nght which Senator Smith and
congressman Ragsdale made for the
.secoshition or the absolute necessity
thet agriculture should be placed in n
favored class in the new banking
scheme should be made null and void
oy the creatures II congress-the re-
serve board and their red tape reRu-
lations.
We have the edifying sight of the
hationai administration refusing to
aiicw q rural credit system even nut.
0etore congress plain reputation
OF the platform upon which Il secured,
tthe franchise OF the American peo-
pie under the statements of it's chief
fiscal officer. Mr.. McAdoo, that there
is ample relief in the agricultural dis
count feature OF the reserve banking
system. while the board Of his crea-
tion limits bank to 20 per cent of
its capital and surplus on this kind
OF paper and then will not take II for
over four months without renewal,
the act making no such limitations
as 10 tce amount OF such paper and
clearly stating that II may be dis
counted for SIX months and renewed
for another six months.
We have another edifying spec
tacle In the head Of the agricultural
department obJecting to a rural credit
system with governmental aid sor lear
IL Will pauperize the American farm
er. wonder if this distinguished COL
iege president and professor of eco
nomlcs ever dug q dollar out of the
ground In his life? II he did IL was
when q boy, for since his graduation
from college he has been q salaried
man paid by the taxpayers and thrust
giving value received But object
&c s!.s undertaking 70 sreak for the
farmers In whose successes and fail
ures he has only an academic interest.
But enough OF this. We here In
south Carolina have another opening
Tor relief and want to see US rise
to the occasion and make the most of
II. What good 10 State warehouse
system * we can not use It's ware
house receipts with the recognized fis-
cal system of the country? We can
keep our cotton under extemporised
sheds on our farmers. or we can store
II In other warehouses. We do not
| even have the advantage OF the
Standard Warehouse company, for It's
managers can take the warehouse re-
ceipts to money centers, and borrow
money to enable the farmer to have
| something to pay on his debts or for
current expenses while he holds his
cotton for q more favorable time to
market. 3
: ~ can not see the use OF farmers
undertaking from their slender re-
sources TO organize 9, giant corpora
tion with all the risks of promotion
graft, when we have the State en-.
Gagged In weighing, grading, stapiing,
insnring and warehousing cotton.
Why not give to the State warehouse
commissioner the power In the name
OF the State and direct him TO sccept
all cotton rendered him bs the farm
ers OF the State for direct sales to
| the spinnefs OF the world? It is
| economic marketing that we need
more than anything else, Who can
l do this more cheaply than the sover-
eign State? We believe, whether Il
IL true or not. that the present mar
i hetins system 10 supporting entirely
too many men. We also believe,
| whether true or not, that the men
engaged in IL are getting too much
for their services. Not single State
In the COTTON belt has taken the ad-
yanced position that South Carolina
4 has in providing o warehouse system
and In restricting the acreage. ! want
i to see It 90 q step further and super.
i wise the marketing, and do Il now
\ while the spinne7s OF Europe are cry
4 Ing for cotton. ff we may believe the
4 newspaper reports, cotton is bring.
ing about twice as much IN Germany.
i Austria and Russia as IL ia here. even
II after paying war Insurance and
Il ffeight charges. Senator MeIaufin hiss
saEgegtea that good use 20 pus
II United states warshipa 60 would be
ton Convoy cottoS laden veRs9ia TO the
cSuntrseB that want cotton. GOOD !!
Il want % zee Sonti Caroline farfI,ee4