The Lancaster news. [volume] (Lancaster, S.C.) 1905-current, 1916-09-22
FARMERS CONTROL
PRICE OF COTTON
MARKETING PROBLEM
Junior Member Accepts Invita-
tIOn to Speak for President
Wilson in Middle West.

Columbia, Sept. 1S.-E. ID Smith
junior United States senator from,
this State, came to Columbia from
mis- home in Florence yesterday to
attend the funeral Mrs. Annie lose
phlne Howe, sister of President wu
son. He returned to Florence VOC
terday afternoon.
Next month Senator Smith viii,
give much of his time campaign,n.
Tor the presidential nominees of tho
Democratic party. EarIy IN tho
campaign he had been listed for a
tour OF two weeks through the East
ern division. Yesterday he received
telegram from Senator Kern of In
diana, urging that he join the Cbica-
go division for series OF sneoL,ro
engagements before the agricultural
masses of the Central West. Mr..
smith accepted the invitation.
Cotton and problems incident to
the marketing of the crop have al
ways been of vital interest to Sen
ator Smith, but he was never at anv
llme more concerned than Just now
over the prospect for unprecedented
hish prices. Although trade rela-
uons one year ago were disrupted by
| a world war, we consumed 1000 OOO
| bales of cotton in excess of an H.
100000 bale crop" he said. "This
year the surplus has been exhausted
and we will market not more than
1O.OO0,000 bales Our own State
VIII not gin more than SO per cent of
last years figures. A concrete illus
tration is my own crop. / have ~
acres from which have picked each
year from 25 to 80 bales. This fall
I'll probably get TO-"
Prices to be paid for this years
| crop are wholly in the hands OF the
| farmers, Senator Smith emphasized.
An extremely small crop and that sec
ton of the federal reserve act
whereby cotton was made a liquid
asset. render this possible. All the
farmers have to do is to store their
cotton in a manner acceptable to a
member bank of the federal system
! With this assurance from the mem
ber banks, the federal reserve act
provides that a large percentage OF
the value of the cotton shall be ad-
vanced six months by the regional
reserve bank. Last year $40 was
la6vqnnn1 IN ha ha1 Dric
were eight and 10 cents. with cot
ton selling at Is cents throughout
the South, an advance of $50 ought
to be had" Senator Smith said.
Another point stressed was that
the warehouses did not have to be
linked up with the State warehouse
system. The federal reserve act was
passed long before a warehouse act
was placed on the statute books OF
South Carolina, and the only re-
quirement imposed was that the cot
ton shall be stored in a manner ac-
ceptable to the member bank. SEN
ator Smith was author OF that sec
tion and could speak with authority
as to exactions.
Another issue on which Senator
Smith thinks the people should be-
stir themselves is the acquisition OF
the 100000 nitrate plant. as re-
Gently provided for in congress. Sc
lection of the site has been left with
President Wilson. Senator Smith
was the author Of the bill and fought
for its passage through both houses
Iof congress, and believes that with
superabundance OF water power and
mineral deposit and proper distribu-
ton facilities near the fields for CON
sumption the State has more
than an equal chance to procure the
plant. If the people of the State
vigorously fight for it's establishment
here.