The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1915-09-04
Banks ana Farmers.
Editor Daily Item.


the farmers to keep their cotton off
the market during this depreciation of
the cotton market. This is the time
of the year when the politicians and
some of the editors usually come to
the rescue of the farmer.
You have probably noticed that
they did not offer any help in Febru-
airy and March. This relief comes i'm
the shape of "hot air." and is direct
ed to telling him how to run his busi-
ness with particular care on how To
treat the banker and merchant who
have furnished necessary means to
make his crop.
"A great consolation the South has
in this dire distress is that the Fed
eral Reserve banks have ample funds
to care for all distress cotton. These
funds are available only to members
OF the Federal Reserve system and
unless the rates of interest are low
cred on cotton loans, member banks
cannot make loans on cotton at n
rate of less than per cent. This only
assures us that money is available to
finance our cotton crop.
Another consolation is, Secretary
McAdoo has mentioned q probable
plan whereby the treasury depart
ment contemplates placing funds di-
rect in the banks of the cotton belt
at very low rate of interest. If this
be done and the funds are distribut-
ed in proportion to the number of
Di'les marketed in each county, we
can secure loans FROM our banks at a
low rate of interest. In case of the
former. member banks cannot grant
loans on cotton at lower rate of in
terest than could they grant loans to
any other class of people at q lower
rate OF Interest.
one reason so much cotton is fore
ed on the market is so many farmers
have no banking connection at all.
Any reliable farmer can depend on
his bank to finance him at most any
time of the year, but so many people
have no banking connections and thew
do not seek any until they are in
need. and this is the time Mr.. Bank
er asks, Have you been doing busi-
ness with any bank heretofore?" 1t
has been my observation, being con-
nected with q bank, that the banks of
Sumter are liberal, indeed, to the
farmers and If farmer has in the
past patronized any bank he can go
to that bank in time of need and get
help. There are banks in Sumter that
have not turned away a single farmer
customer during the past fall and
spring, but at the same time farmers
VINO were not customers Of such in
.utuhon5 would ASK for loans ON cot
tou. I'm which evrrt IL st17ls 80 roa-
s'u that such Il loan Cou,d not le
granted. 1t is therefore, beneficial
that every farmer should connect
himself with some banking institution,
and look to that bank for help in time
of need
There is no reason why a farmer
should not connect himself with q
bank. for it is through the banks
that all funds reach the people. If
our government offers any help. it Of
fers 1t through the national banks of
our country. and l. for one, would like
to see every farmer Of this Southland
doing his financial business with the
banks. 1 think 1t should be urged up
on the farmers by the banks and by
different farming magazines and by
the farm societies to immediately con-
meet themselves with some banking
institution, for the banks are doing
more for the farmers than ev be-
fore.
When every farmer south Of the
Mason and Dixon line has his name
on the books of our banks, and when
we realize that only sixty people out
of every thousand men, women and
children have bank accounts i'm the
South, whereas, i'm the New England
states sixty out Of every hundred
have bank accounts. we will turn our
minds toward the goal of thrift and
these questions will no longer con-
front us.
c. Brooks Huff
Sumter, s. c.. Aug. so, 1915.