Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1915-03-09

put up the price of cotton, some with
the best intentions in the world, but
misled by subsidized newspapers,
start a buy-a-bale movement, in
order to supply the cotton mills with
cotton at six cents a pound, anything
to make us turn loose.
I want to tell you right now that
I have no sympathy with this cry,
keep 1t out Of politics." I have had,
want, but l want to tell you that you
will never get your rights until you
elect men to the office, from the presi-
dent Of the United States down, who
are in hearty sympathy with this eff
fort Of the farmers to hold their cot
ton and to obtain loans on 1t direct
from the government, and to make
sales direct to the mills. 1t is the only
way that you can ever accomplish
anything. The only way you can ever
make your power felt is through
your voters. And I would like to know
why Dabbs, myself, or any other man
that Is lending this movement, should
be attacked because Of political m
billions. Why is politics open to every
lawyer and banker, but closed to q
leaders Of a farmers organization?
Why, 1t was put up to me squarely
in this fight over the warehouse bill,
that I ought to come out and make
the statement that I never expected
to go into politics, and I refused, and
I will continue to refuse to make any
such cowardly statement as that. I
will do anything in my power that Is
honest and honorable to aid the far
mers Of South Carolina, and Of the
other southern states, and / am not
going to be driven from that position
by the attacks of politicians and
newspapers.
Twenty years ago wheat was selling
at 40 cents a bushel, and corn at 10
cents a bushel, in the west. In Kan
sas they were actually using corn for
fuel. That whole western country was
In debt, and plastered with mort
cages. But the farmers Of the west
had more continuity Of purpose than
the farmers Of the south. They or
ganized through their Farmers
Union, and by acting together these
great grain elevators were establish
ed, with banks that would use the re-
ceipts for the wheat and other pro-
ducts which they had on storage, and
in that way they got in control Of the
situation. and made the banks, in
stead Of their masters, mere channels
for the distribution Of money what
they should be. The interest rates
have been lowered, and the western
farmer never sells the products Of his
land unless 1t shows q fair profit.
What better object lesson do we need
as to what can be accomplished
through organization, than we have
in that? Go to Kansas, Nebraska,
Ohio, and all Of these western states,
and contrast the condition Of the far
mers there with the condition Of the
farmers in South Carolina.
Now, I am often asked the ques-
ton about the cotton exchanges,
whether they are harmful or OF bene-
fit. I say most u~nhesitatingly that, as
administered at present, they con-
stitute m Of the greatest burdens
South. But in the regulation Of those
exchanges they are proceeding, in my
judgment, upon an entirely false the
Dry. It is just like all the other leg
islation that has been proposed for
the benefit Of the farmer-instead Of
going to the root Of the matter and
proposing a measure Of real relief,
they proceed upon the line Of doing
something to placate and to keep the
farmer satisfied and quiet, without
interfering with the profits Of those
who are thriving at his expense. The
theory Of the cotton exchange Is en-
tirely correct 1t Is the practice that
is pernicius. It proceeds upon the idea
that by permitting future sales you
can distribute q twelve-months sup
ply Of cotton over the twelve months.
But you must remember that there
q ra fuyn LINDA NJ Nnffnn-ViaihlQ n0f-
ton that must pay storage charges
and insurance, and the invisible cot
ton upon which they speculate, run.
ming in the New York Cotton Elk
change alone to n hundred and
fifty or two hundred million bales a
year. The total amount Of this
speculative, or paper cotton, as I call
it, in Liverpool, Bremen, New York,
New Orleans, and the smaller x
changes, amounts to hundreds OF
millions Of bales. Well, now, any man
Of common sense must realize n
fact that II this speculative cotton Is
based upon the actual cotton which
is to be carried for consumption at
the mills over the IL months, that
the actual cotton has to pay the car
rying charges that you put upon a bale
Of cotton, whether 1t Is freight. com
missions or charges, comes right back
to the actual spot cotton itself, and Is
paid by the man who produces 1t. It Is
not paid by the consumer. Therefore,
and regulation Of the exchange that
does not make the invisible cotton pay
it's proportion Of the carrying charges
on the visible cotton Is at the expense
of the producers Of cotton all over
this country, whether that exchange
is in New York, Liverpool, or else
Nauy fhnra 10 hnf nno wQv In
which that a be corrected, and that
Is the imposition Of q tax on every
sale for the future delivery Of cotton,
and for the money arising from that
tax to be used in ~lessening the car
rying charges on the actual cotton.
/ drew a bill at the request Of Senator
Tillman nearly two years ago, which
embodies that principle, and I DOM
care what they do, the thing will
be adjusted to the advantage
Of the farmers until some such legis-
lation as that Is passed by congress.
In that bill it Is provided that cotton
to be delivered on contract, where the
delivery Is in a cotton-producing
state, is exempt from the tax, and
that every contract, where the deliy-
cry Is in a non-cotton state, is sub
ject to the tax. Now, that would
IIledH, my lTicIioS, lldl TIE SUI Ploo
cotton Of the south would be carried
in the state where it was produced,
and that in that way, the surplus
cotton, which Is used always to de-
press the price, would be held at
home, and only let loose as there was
an actual demand for 1t. There can
be no solution Of the cotton question
which does not involve the producers
Of cotton, or their friends, carrying the
surplus, because If the consumers of
cotton and their friends carry the
surplus. they can at any time, by
throwing it on the market, depress
the price Of cotton which has not