The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1915-09-29

behalf IF your State warehouse
system or anything else OF
which: Tou are the proponent.
They have no use for you Or any
thing for which you stand, and
if they ever appear to back you
up in anything. it will not be un
til you have won the support OF
the people to such an extent that
that the State folks wont dare
try to antagonize you any furth-
+er."
Mr.. McLaurin seemed incapa.
bic of comprehending the cor
rectness of this declaration. He
insisted that the editor Of The
Enqirer was mistaken, and con-
fdently expressed the opinion
that no soon as the Colum-
bla State recognized what he
was trying to do IN the way OF
assuring to the producing class.
es of South Carolina: more es.
pecially the cotton farmers, a
fair share of the proceeds ol
their labor, it woula at once
throw all it's powerful influence
to the cause.
We have recited these facts
because of the light they throw
on the peculiarly mean and
,sneaking editorial we have re-
produced above, and now by a
state of certain facts of which
the Columbia State and most of
the public are aware, we will
proceed to show how mean and
sneaklng that editorial really is.
The former editor of the State
owned that he knew nothing
about finance. etc. AS to whett
er the present editor is in the
same position, we do not fee
warranted in saying. We vii
say, however, that in his state
ment of the requirements neces'
sary to make a bale of cot7or
available as security in New
York or Chicago, he is eithe!
very ignorant or very careless
The sscxistence" of the cotton is
important, of course, and so is
it important that the cotton be
sheltered from the weather and
insured against fire. But above
| all these the one thing that The
banker wants the receipt to guar
antee is the title. The state
warehouse receipt does that a:
does no other receipt.
1t will be remembered that a
the outset of this warehouse
movement. Mr.. McLaurin sough'
| to get a fairly large initial ap
preparation for the purpose O
establishing state owned ware
houses. Having been thwartee
one way and another in his eff
forts in this direction. he &C
Fcepted a law that gave him moth
but the right to pursuade people
to invest their money in ware
houses to be placed under hi:
management, with the under
standing that these people alst
pay him a rental of 8 cents
month to help defray expenses
and the thing that is hurting
some folks right now is the fac
that the people of the state arr
showing their confidence by put
ting up their money.
Scan the owner of 100 bale!
| of cottou carry it's receipt il
New York and there obtain
loan upon it at 6 per cent o.
less?" asks the State.
Did not Senator Banks of Cal
houn county, say in a speech
last winter, that he had gone tx
New York and borrowed Sl0,00t
on MS state warehouse recelpE
at 5 percent straight interest
If that does not answer you!
question "Yes," then what more
do you want?
Does the State remember thai
letter from the Guaranty Trus
company of New York to a South
Carolina banker that was pub
lished last spring, in which the
Guaranty Trust company de
|clined to loan on warehouse re
ceipts except the money wen
through the Office of the commits
sioner, and did not Mr.. McLaurir
decline the arrangement because
it would deprive the banks of {
e,kso,. - o~l A.