The Dawson news. (Dawson, Ga.) 1889-current, 1915-09-14
Interest On Cotton Loans
From the Cincinnati ENQUIRER.

There seem to be indications that the press of
the South may find occasion to discipline the coun-
try banker of the cotton states for dsincl1natlon
to share with the cotton grower the Dement'S OF
abundant money for financing of crops
With President Wilson and Mr.. Harding, or the
federal reserve board showing that the banks can
get all the money they may want at 4 per cent,
and that they ought to be satisfied with per cent
advance over that for handling the business OF the
farmer and the planter, have already read IN
the Times Union of Jacksonville, Fla: We do
not expect much of this money to find its way into
the hands of the farmers.
There was something of prophecy in THIS TO
Judge from intimations in editorials of the Dallas
Morning News that in Texas there are already IN
tmations that the bankers are refusing to advance
$25 per bale the staple. In that connection we
find no reference to the interest demanded.
1t would appear that the Southern bankers, or
at least many of them, object to the suggestion OF
a maximum rate for loans, and the treasury de-
partment is taking notice of the fact with the I'M
preston that per cent should make money avail
able to all the cotton growers VINO want IT, ana at
the same time pay the banker fair profits on the
business. If any may have money at per cent
and Immediately pass it along at 6 per cent with
ample security of cotton, there would seem to be
no sufficient to adhere to the former mini
mum of 8 per cent prevailing at time when bank
ers were pleading that New York was no longer at
their command with funds.
The New Orleans Times-Picayune makes feat
ure of a dispatch from its Washington correspond
ent in which he becomes rather scathing in COM
ment, as in the following: "a large number of
Southern bankers in bad repute with the ad-
miniStration a result of last years dealings.
spirited and patriotic conduct of many Southern
bankers during the trying times of handling last
years cotton crop the avarce displayed by others
did much to block the strenuous efforts made by
the federal government in the interest of the en-
tire nation, it is asserted
That the holding of cotton is necessary to main
tain a fair market is well understood as the
fact that to hold his cotton the average producer
must have cash to tide him over.
The Birmingham Age-Herald remarks: Should
the government report show little deterioration
prices might weaken temporarily, but the Stats
tical position of cotton is certainly favorable to
high prices provided the farmers take Mr.. Hard
ing's advice and market the crop gradually
In its latest issue at hand the Dallas Morning
News, speaking of the situation in Texas tells u.s.
among other things:
mo criticism that is directed at the country
bankers a whole with respect to their treatment
of cotton will be just, because it is manifest that
not all of them will pursue the same policy. Some
will lend freely cotton, others will lend spar
ingly; some will advance $35 bale, others prob
ably not $25. Some will charge per cent
and more for what they advance while others
will charge less than that rate.