Cheraw chronicle. [volume] (Cheraw, S.C.) 1896-2005, 1916-09-21
FARMERS CONTROL
PRICE OF COTTON
Senator Predicts Short Crop.
Junior Members Accepts Invitation to
Speak tor President Wilson
in Middle West.

Columbia, Sept. 1S.-E. d. Smith,
junior United States senator from this
State, came to Columbia from his home
in Florence yesterday to attend the
funeral of Mrs. Annie Howe, sister Of
President Wilson. He returned to
Florence yesterday afternoon.
Merit month Senator Smith will give
much Of his time campaigning for the
presidential nominees OF the Demo-
cratic party. Early in the campaign
he had been listed for tour Of two
weeks through the Eastern division.
Yesterday he received telegram
from Senator Kern Of Indiana, urging
that he join the Chicago division for
Il series Of speaking engagements be-
fore tn agricultural masses Of the
Central Vest. Mr.. Smith accepted
the invitation.
Cotton and problems incident to the
marketing of the crop have always
been Of votal interest to Senator
Smith, but he was never at any time
more concerned than just now over
the prospect for unprecedented high
prices although trade relations
one year ago were disrupted by
world war, we consumed 100000
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
100000 bales. Our own State will
not gin more than 90 per cent. Of last
years figures. A concrete illustration
is my own crop. 1 have 81 acres from
which l have picked each year from
20 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 u manner acceptable to a
member bank Of the federal system.
With this assurance from the men,
uer bank, the federal reserve ACT
provides that large percentage OF
rf1e vItCp.of rIro cotton ;San be -aG
yanced six months by the regional
reserve bank. Last yeear $40 was
advanced to the bale. Prices then
were eight and 10 cents. With cotton
selling at ID 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 require
ment imposed was that the cotton
shall be stored in u manner accepta-
ble to the member bank. Senator
Smith was author Of that section and
could speak with authority as to ex-
actions.
Another issue on which Senator
Smith thinks the people should be-
stir themselves is the acquisition OF
the $2O,OOO,0OO 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
of congress, and believes that with
superabundanca of water power and
mineral deI .,it, and proper distribu-
tion facilities ntar the fields for con-
sumption the state has more than
an equal chance to procure the plant,
if the people q the State vigorously
Hght foc its establishment here.