Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1915-09-24
GEORGIA farmers AROUSED
Want the State to Establish a Ware.
house System.
SIGNIFICANT MEETING In ATLANTA.

| ncnt ScoT9idHo 6isCuoS Situdtiofr
Governor Harris Willing to Recon-
mend Any Desired Legislation
Washington Administration Com
mended and Attitude of Banks Crit
icised.
corrsspoudsncs The Yorkvilis Enquirer
Atlanta, Ca, September 21.-As a
result Of a stirring speech delivered
by Hon. John L. McLaurin, state
warehouse commissioner Of South
Carolina to $50 members of the Geor-
gia State Farmers Union, represent
ing every county in the state, in the
capitol today, Governor Nat E Har-
ris has agreed to include consideration
Of the state warehouse bill in his call
for an extra session Of the legislature
and to recommend to that body the
passage Of any state warehouse bill
that the Farmers Union Of Georgia
might propose.
Charles P. Barrett Of Union City.
Ga, president Of the National Union,
presided over the meeting and while
Hon. John L. McLaurin was the prin-
cipal speaker, there were also remarks
by J. ]. Brown, president Of the Geor-
gia State Union; Congressman Will
liam Schley Howard Of the Fifth
Georgia district, Congressman w. c.
Adamson of the Fourth district and
ex-senator M. ]. Johnson Of Jackson
county.
Senator McLaurin spoke for an
hour and a half and then answered
questions for thirty minutes or more.
His speech has produced a consider
able sensation in banking and COM
mercial circles in the city, and has no
doubt interested legislators over the
state.
For one thing the speaker took up
the official record Of usurious interest
charges by the National banks as CIV
en- out by Hon. w. G. P. Harding,
chairman Of the Regional Reserve
board, at Raleigh last night, and told
how eleven Georgia banks last year
charged the cotton producers as high
as 80 per cent fer loans, and how the
average interest charged by all the
banks Of Georgia exceeded IL per
cent IF you farmers do not have the
manhood to fight for your rights" he
declared, you will soon find your
selves in the condition Of mere tenants
working for few big Atlanta banks"
The speaker told his audience how
the warehouse bill would have become
law at the recent session Of the gen.
eral assembly except for banking in
terests that insisted upon the estab-
lishment Of a big central warehouse
in this city under conditions that
would require the concentration here
Of all Georgia cotton on which loans
were sought from the banks. "This."
the speaker said, would be the
height Of folly. All the money obtain
ed on such cotton would be deposited
here with the result that the COM
munities in which the cotton was
grown would be deprived from all
benefits from 1t, and when the cotton
was sold, the money would still re-
main here building up the banks of
Atlanta at the expense of the entire
state.
In this connection Mr.. McLaurin
launched into terrific arraignment
of the traitors in our midst" He de-
clared that he had information that
certain bankers were doing all they
could to influence the New York banks
against lending money on cotton after
the price reached ten cents a pound.
Cotton" declared Mr.. McLaurin, "is
entitled to the benefit Of the law Of
supply and demand, and the banker
or anybody else who tries to defeat
that law is traitor to the cotton pro-
ducer. When cotton was selling last
year for cents a pound only because
Of a tie up of the money supply, and
we tried to valorize it, they told us
we were wrong. Now that the banks
are bulging with more money than
they know what to do with, is it not
equally wrong in them to try to valor-
ize our cotton at 10 cents when they
know that it is certainly worth not
less than IL cents? This refusal Of
credit beyond 10 cents is nothing more
nor less than an effort to hold the price
down to that figure"
There had been some disposition in
the meeting to depricatc the Federal
administration; but Mr.. McLaurin 81
fenced all such sentiment with a
glowing encomium Of the big man"
in the White House. You had better
thank God for Wilson and back him
up with all the strength and sincerity
Of your hope for the welfare. Of our
country, rather than put in your time
picking flaws in his policy. No great
er man than Mr.. Wilson, either men
tally or morally, has ever administer
ed the affairs Of this nation" This
declaration elected cheers of ap-
proval
Mr. McLaurin emphasized the fact
that the Federal government had the
power to force banks in the Federal
reserve to lend money to farmers at a
reasonable rate, and said that the ad-
ministration through Secretary Nc
Adoo had already told these banks:
Here is this money-lend it to the
farmers at not more than per cent"
If the banks did not comply with this.
said Mr.. McLaurin, the Federal re-
serve board could enforce obedience
by taking away their charters as board
members. Also, he declared that the
farmers would do we'll to consider the
idea of establishing bank Of their
own.
Congressman Adamson agreed with
Mr.. McLaurin that money was never
more plentiful than now. and he ad-
vised that if the banks, which could
get all the money they wanted at
per cent to lend on cotton at 6 per
cent, would not help, the farmers
should find some other way to get the
money.
Congressman Howard said that only
the norris of Germany and Austria