The herald and news. [volume] (Newberry S.C.) 1903-1937, 1916-03-10
Mr.. McLaurin Discusses
Cotton and Insurance Situation
Advises the Farmers to Plant Less and Make O10n
SUPPLIES at Hon1e-Not Uneasy as to Insurance
Ample PouUer in State Government to
Protect People Against "Male-
factors of Great Wealth.

tom. No one can doubt who knows
the oreign situation that at the close
of the war here will be a sensational
advance in the price Of cotton. !
never advise anybody to hold cotton.
That is a question for man to decide
for himse's. But I am going to keep
mine until ,he war ends.
As TO the insurance situation, the
parties who have been handling our
cotton expressed themselves as en-
tirelv satisfied With The station, and
! feel no uneaSincss. The I-ancy-Odom
bill has been passed in other States
and every time this action has been
taken. they have forced its repeal by
the same methods that the Southeast
ern is adopting in South Carolina. IT
seems that they wish to .orce the call
iro Of large ,oans, and through this
bring sufficient pressure to bear on
he governor to get him to call an eX'
ira session to repeal the act. Times
are different now from what they have
been and so far as l am concerned,
am not willing to see corporation
dictate the policies of the State OF
South Carolina. l have heretofore
suggested to the general assembly a
system of State insurance. and i the
legislature were called together I
should advocate this policy. The is
sue is made. and certainly the State OF
South Carolina has sufficient resources
to take care of her citizens.
After having talked with government
officials in Washington and with the
governor OF the Federal reserve board
in Richmond, and seeing the interest
which the government is taking in the
welfare O. the people, and What a
great blessing this new Federal re-
serve bank is, feel new love for
Democratic form of government and
that it justifes the hope that in this
insurance situation there is ample
power in our State government to pro-
tect our people against "malefactors O.:
great wealth.
The people with whom I am deal
ing say that they can place all Of the
large amounts of insurance in case
Withdrawals are sufficient to threaten
citizens of the State, and while 1t is
not strictly part Of my duties as
State warehouse commissioner, l am
in this fight and am perfectly willing
to give freely of my time and energy,
and am placing insurance now for
parties who are uneasy over the sit
uation.
The insurance commissioner. Mr
McMaster, has issued a circular ad'
yising the farmers to organize mutual
insurance companies. and l heartily
second the suggestion. have been
looking into this matter myself and
will make a statement a1ong this line
shortly. do not see why, through
the s. ate warehouse association which
we formed in January, we cannot or
ganize mutual insurance companies to
carry the country property, and am
today issuing a call for meeting Of
the executive committee o this asso-
ciation. Ihe Southeastern is trying to
strike a blow at the StaJe warehouse
system by advancing the rates on
country property. I did not begin
this fight, but l do not propose to
Quit, now that it has been forced, and
if the farmers will back me, as | know
they will, and with Mr.. MioMaster's
aid and his long experience, we can
organize those mutual insurance COM
panies in every county in South Car
olina. The farmers of anderson,
Oconee. Union, Newberry, Cherokee,
York, Chester, Fairfield, Marlboro and
Darlington are now getting insurance
on their dwellings and tenant houses
at less than Is cents per one hundred
dollars, while the farmers in the OH
er counties o. the State have been pay
ing one dollar and twenty cents per
hundred dollars find in looking over
my mail this morning that in the coun-
ty OF Lee orders have been issued to
ra:se the country insurance from one