The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1916-01-13

propriation made by the last legisla-
tnre: and with the increasing amount
of cotton stored, it may be that this
! department can be operated on
yearly decreasing amount of money.
! j refer you to the report of the COM
missioner for further information on
this subject. l have gone over this
entire matter with the State commls-
sianer. and he, from his experience
and observation, is entirely in accord
IN accord with these recommends
TONS
Uniform Warehouse Receipts.
..Uniformity in State legislation
governing commercial and financial
transactions, is desirable and impor-
j fant. This is true of laws governing
storage. The Southern States should
have uniform laws on warehousing of
agricultural products; and an i'm
portant step towards this would be
taken by the adoption of the uniform
warehouse receipt act, and I urge up
on you its adoption.
Land Registration.
again advise that you enact a
. land registration law based on what
3 Is commonly known as the Torrens
system. Thies is necessary pre-
REQUISITE to a system of rural credits.
land registration act will simplify
the matter of land titles, reduce the
8 expense of examination of same and
furnish simple and inexpensive plan
that will cheaper the cost of bor-
rowing money on real estate, thus
making more practicable, at small
expense, the use Of land as collateral
B for loans. e
"a Torrens system deed gives the
owner the secure feeling that the
state warrants his title and thus puts
an end forever to any doubt or fear
of litigation.
s4The time has arrived for definite
= action on this matter, and l strongly
urge upon you the necessity for its
enactment at this session. l
sys e Rural Credits.
Forty-three per cent. of our white
farmers are tenants. II we are to
build up our rural districts, increase
4 the production of the soil, make easy
3 tie Improvement of our rural schools,
churches, roads, and all rural COM
munity life, we must have a greater
proportion Of our people as owners
of their homes and farms. No one
factor can contribute to this accom-
piishment and this blessing more
than q practicable, workable system
of rural credits, so that homes and
farms can be bought on longtime
payments and at low rates OF inter-
This would furnish our white
s tenants the plan by which the money
which is now paid as rent for farms
could be applied to payments on
] farms bought Every Improvement,
NeVery acre whose, production is in
creased, would be for the benefit Of
the purchaser. After some years Of
effort, and industry, the annual pay
naenas, little more than the rent they
I now pay, would give them fee sim
B pie, uneneumbered title to their home
and farm.
have prepared a plan to provide
Tor longtime mortgage loans, repay
3 ment OF which is provided for on
the amortization plan; but inasmuch
Z as a measure of this kind has been
introduced in congress, with the
strong probability, Of its adoption, it
may be unnecessary for the State, at
I this time. to act on this question un-
til the experiment has been tried out
by the federal government.
But as a statement has been pub
Ished by the comptroller Of the cur
rency, alleging that excessive rates of
Interest have been charged by certain
banks, and in view, further, Of the
widely advertised statements alleg-
ing exor bitant rates Of interest be-
ing charged for advances to farm
ers, 4 deem it of great Importance
that the State should provide a plan
for short-term credits for farmers,
under which money can be borrowed
BY farmers at low rates of interest. I
8 have drafted a plan by which sthis
# purpose can be accomplished, and
this plan will, hope, receive that
attention which Will perfect it. so
as to make it available for our farm
ers. / shall submit this plan to you
In later message.
This matter deem of great i'm
poitance, for if the statements that
hoon fo tho ovorhif MT