The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1915-06-30

was the real bloody battle
that ended in the sur
render of CORVALLIS and York
town. When the war ended,
South Carolina was the largest
creditor State, because she had
furnished more actual money to
the carse OF independence than
any other State in the Union.
STATE SYSTEM A SUCCESS,
When the South Carolina Leg
islature, in it's extra session,
passed the State Warehouse Bill
and I was selected to put it in
operation, I was appalled, at the
of the task and the
small means at my command. l
feel that can today say that it
will be a success. because,
through the aid rendered me by
Mr.. Harding. I have been able
to command the attention of the
great tinanciers of this country,
who have expressed themselves
as being satisfied that the State
Warehouse receipt puts cotton
into a negotiable form. There
is no difficulty whatever in OBJ
tanning money at the lowest rate
of interest on a State Warehouse
receipt.
l am encouraging the farmers
in each community to build ware
houses on their own farms, and
then during the fall months,
when the price of cotton does
not show a fair profit, to use
these receipts to borrow money
and pay their debts. If the sys-
tenn can be extended, as now
seems likely, into the other
States of the South, an inter
State board can be formed and
a minimum price agreed upon, so
that it will not be necessary eV-
er to sell another bale of cotton
below the cost of production. If
the State Warehouse Bill had
never done anything else except
reduce insurance rates in South
Carolina it would be worth mil
lions of dollars to all the people
of this State. T have had more
trouble with the insurance rates
than anything else connected
with the operation of the system.
There was a distinction made be
tween a warehouse in the coun.
try and in a fourth. class town.
On the country warehouse the
rate would be $3.50 while in a
fourth. class town, where there
were no water works and nc
more protection against the fire
than in the country, the rate
would be S1.75 per hundred dol
lars. Without going into the
details, the insurance companies
were all quick to realize the su-
perioty in the moral risk Of a
State Warehouse, and they were
prompt to offer US a reduction
of 10 per cent per hundred on
cotton in a State warehouse over
that stored in a private or cor
porate owned warehouse. But
it was only after great difficulty
that I secured a reduction OF
about 100 per cent on the coun-
try risk, and also from 25 to
.32 l-3 cent on all cotton in State
warehouses, and I have no doubt
that in the future the rates on
cotton stored in State ware
houses will be further reduced d.
COTTON MUST BE SOLD FROM
FARM TO MILL.
One of the most important
features connected with the
State Warehouse System-and
it is this that has attracted me
more than anything else-were
the additional powers conferred
by the last General Assembly
authorizing this Commissioner
to negotiate loans and make
sales of cotton direct. Fortu-
nately, with the assistance of
Mr.. Harding. I have made sat-
isfactory arrangements so far
as negotiating loans is concern
ed; but the great burden that
rests upon the cotton planter is
the many middle-men who net a
profit between the farmer and
the mill. There is a cotton ship
now tied up in the French prize
court whose owners recently
stated under oath that they