The Anderson daily intelligencer. [volume] (Anderson, S.C.) 1914-1915, 1915-02-07
THE sOUTh's ATTITUDE TO THE COTTON
MILLS. r.

One OF the puzzling things one has TO think OF
and to contend with in the South is the Indifference
Of most persons over the or failure of the
example. especially I'm the Piedmont section. the
cotton mill industry has made wonderful growth,
ana much OF the prosperity of this section is direct
iy traceablc 10 the cotton mill industry. While the
mills have brought prosperity to sections. they
seem not to have been able tn " ing prosperity TO
themselves. 1t has been siI to that acred
scene when IL said of NaZerene
Others he saved: himself he cai. save"
well known business man writing OF this mat
ter says:
with the people who should be loyal showing
lack OF confidence in the business the egis anre
doing all possible to put the entire business in the
hands of f. j. Watson. who has asked for authority
to CO everything but sign the notes and checks of
the mills and who will possibly ask for that
authority little later ON. the management Of the
industry Is not the most pleasant occupation that
may be thought Of
"If people would only stop ami think what
the territory from Greensboro, n. C.. to Anderson
and Columbia. S. C., would amount without the
payrols from the cotton mills the wise ones would
change frcnI passive Indifference or open hos
tility to loyal AMI open advocacy Jf the cause o!
the industry
Commenting on this seeming Indifference The
Much OF the embarrassment which cotton mills
OF the South have felt recently. and are feeling
now, Is due TO the attitude Of Southern people who
are inter63ted. either as stockholders. credi-
ic1s 2f these mills. Southern banks from which
our mills have beon accustomed to borrow money
have been calling In the loans Instead Of Il spirit
CT ibcrnlity. such was counseed by Secretary
or the Treasury McAdoo and others. and which was
especially needed. there has been spirit Of fear
and rctronChmCnt., Had MT for Iil,arnl
sttitudc of the New York banks and OF banks in
other Northern points. the mills would have been
very seriously embarrassed. The Southern capital
lists have not been generous, or even wise in their
attitude toward home industries The quasi-panic
among those who had money loaned to the mills
wa3 apt tc q deterioration in the financial
sOundness OF the mills.
The average stockholdor has exhibited the same
spirit. he has become afraid OF his mills stock
and his desire to sell them, has, o. course reacted
against the price OF stocks. The average cotton
mill of the South has paid enough in stock Givi-
dends to reimburse the stockholder for the money
which he has put into the textile business. 1t IL
true that some of the mills are not paying now.
and that others are not Spaytng such sgopd divI-
dends AS they once did hut what business is there
which at times does not fail to make large profit?
Do yon think that the IfaFmeEs. because they, are
making little or money this year, will try to
sell their land at but. a ffaelion or It's Intrinsic
vs;sa? They will be the lqssra u they doc
The cotton mill business is a necessity Cotton
goods staple articles and there Is no chance Of
their falling into general (disrepute. . The world
must have tie goods. Thq' depression which now
exists is but temporary. sIt will pass other de-
pressions have passed. and the mills, will come
once more into their 6wn. The average man wifi
admit this fact and yet he Oa inclined to dump his
stock IL ne can. BY this rsi,saas % lear. this
"psychoiogieal depression!h iri"you choose.sath
stakeholder is damaging his own stocks d.'' iilt
That return of confidence" SO often advised is
needed In thf' South more, perhaps than In any
other section. disacs.1astS &c loyal and to staad
firmly back of our own Industries is needed These
industries are not ephemcral enterprises, apt to be
dtssipated at any time They are sound, for the
most part. and their soundnessS- and prosperity
would be augmented II Southern people would
show more liSeral attitude for Southern under
takngs Our lack of confidence in ourselves, our
mental panic, naturally causes outsiders to have
less confidence In us. Yet these outsiders have to
q considerable extent, financed us, despite our own
fears. Surely the South should be willing to help
itself to greater extent than others are willing
to help It, This. however, has not been the case
It Ia high time for the South to face about and re-
turn to It's spirit OF cohfdence , So 3t,'+ ~
"A WELCOME VISITOR TO THIS OFFICE, g