The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1915-03-10
MUST HAVE CREDIT.
Bankers, Merchants and Landlords
Arc Cautioned.

bankers, to a real economic danger
mat is threatening us--the danger of
great economical loss through the
throttling Of the force OF production
by undue restriction. Of credits.
We all realize that some degree of
restriction is eccssary-indeed, desir-
aoie Tor all parties concerned. But
that does not mean that this restric-
tion must be carried to the point
where it ncccssittaes n large portion
or the lands Of the State lying idle,
that perhaps half of the annual $780,
100000 product Of the field shall be
lacking next fall for the want of nee
essary supplies with which to make
IT. If this condition is brought about
there will be more than psychological
hard times. We will have real hard
times-the result OF a short sighted
economic policy.
Ihis Is an agricultural State. Sixty
per cent of the wealth produced each
year consists of agricultural products.
II we include cotton seed products and
cotton manufactures, amounting to-
gether to nearly 100000, 900, more
than 30 per ent Of the States annual
products may fairly be said to be di-
rectly dependent upon it's agricultural
activities. The necessity for keep
ing these forces in operation is pa
tent.
Let us examine into the conditions
that make some restriction necessary
with view to determining the meas
ure Of restriction that is sound
economic policy.
Agricultural DISCRIMINATION exists
to marked degree only in the South.
and the logical conclusion is that il is
due almost entirely to the eTec. of
the war on distribution, CONSUMPTION
and prices OF cotton. The grain and
live stock sections are enjoying un-
usual prosperity The South can
produce on lands that will make a
bale of cotton per acre, (and on other
iands in proportionD so bushels of
corn, with several bushels of peas.
and vines to be turned under with
manurial value Of s5 to $40 per acro.
W to 90 bushels of oats, followed by
ton or more Of peavine hay; 80
bushels OF wheat, followed by a pea
vine hay crop of ton or more:
Yields OF tobacco worth $l00 TO $2U0
ana ot truck ana lesser crops 20 The
value Of $lo0 Go 81, ,00Q per ac V-h,
'her all Of this vail because cotton
no longer promises much profit? BE
cause there is no market for anything
put cotton? Other sections have pro-
Vided and are finding a market for
grain, live stock and diversified r.o-
ducts--and are prospering. Il is IN
TO us to do likewise. Are we going to
let great agricultural section like
the South so to the bow-wows be-
cause periodically low prices prevail
Tor cotton? Where is the proof of
our boasted rcsourcefulness and of
our confidence in our state and the
South?
The actual volume OF this States
larm products for 1914 was little
greater than usual, according TO the
United States agricultural DEPART
meht reports. and only cotton
brought it's producers prices below
normal. Cotton, with seed, instead
of bringing the farmers Of our State
S9o,o00,OOO, as it should have done,
~ going To bring them only little
over $G0,0O0,00O. Great as q loss of
S'o,OoO,oOO may seem. it is less than
one-iitth of the aggregate agriculture
al wealth produced i'm the State in a
single year. Our people by the prac-
ticc of economy and thrift can of
set this loss III the making Of n single
crop. Let Us point out the way and
encourage them to do this. for in
this course is our hope for an early
return of prosperity. To throttle
their efforts by failure to provide the
necessary advances is economic sui
eide.
The banker, the merchant, and the
landlord each has his duty and re-
5ponsibility, and failure to measure
up to ii will not fail to come home 10
the delinquent. A lifelong credit
system cannot be changed in one year
the measure of restriction and
change that is possible is Il matter for
the careful consideration Of the best
business brain of our commercial life.
let us give the matter careful study
ana arrive at an adjustment that will
keep in operation the productive
forces of our state. If This he done
our people by economy and thrift