The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1915-09-15

banks in the cotton States and
in the agricultural regions gen
orally will content themselves
with a rate not more than one or
two per cent above the rate
which they themselves pay" It
lis up to the banks to justify this
faith expressed by the head OF
the Nation.
And the crop can be ware
housed, Mr.. Harding points out
that even last fall the South had
facilities tor storing ll.577, ,465
bales, and these facilities have
been greatly increased since
then.
The next thingq probably
ought to say is
CENT PRICES ARE
JUSTIFIED, CoNTRABAND OR
NO CoNTRABAND.
Of the 1888, 600 bales of Amer
ican cotton shipped to Europe in
the fiscal year ending July 81,
1915, only 242, 900 bales went to
German ports. Of course, there
was more that went indirectly
to Germany, but we must re-
member that a considerable
part of Germany's normal de-
mand for cotton was exported to
Germany's foreign trade and
and that this trade will now be
supplied by other countries. The
contraband order may almost be
termed Infamous if England does
nothing to compensate US for
trying to make Southern farm.
ers bear her burdens, but in any
case to Offset the contraband
order we have /, the greatly in.
creased demand for cotton for
war purposes. 2, the increased
demand for American, English.
and continental factories that
must supply the trade formerly
supplied !by German mills, to-
gether with the fact, 8, that
Germany is almost sure to buy
and store up cotton right here
in America to hold until sea
trade Is re-opened. Even with
the contraband order in effect,
therefore, twelve-cent prices are
amply justified, whereas with
open seas to all Europe, cotton
would likely bring IA or Is cents
An able and eminent commit
tee on arbitration ought to be
named at once by England Amer
ica, to make-a fair and just esti-
mate of the damage in price per
pound resulting from the ''or.
ders in council" and contraband
order, and England should then
be required to pay this amount
per pound as a bonus to everv
American cotton producer, this
fall.
I confidently believe that if
England should change her con-
traband rules so as to inhict cor
responding injury upon any
strong American manufacturing
interest, some such settlement
would be required; and Southern
farmers should rise up and de-
mand that the same recognition
be gwen an agricultural industry
as would be given manufactur-
ing industry.
The practical lesson clearly
taught by present conditions
then is
vI.-FARMERs SHOULD HOLD
FOR TWELVE CENTS AND
BANKERS SHOULD HELP
THEM HOLD.
OF course we must be reason
able. Don't expect bankers to
lend OF cotton not stored or in
Sured. nor expect them 10 leno
the full market value. Land
owning farmers of good charac-
ter who have been .depositors in
banks, however, will frequently
be able to borrow without such
restrictions.
The thing to do is for farmers
in every neighborhood: to organ
ize, formally or informally, for
standing together in holding and.
marketing the crop, and find out
just what the local banks will do.
Last year it was repeatedly
stated by the minority of bank
ers who were willing to lend
money on cotton, that few farm
ers applied for such loans. Let