Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1918-06-28

Mr., Stevenson. Mr.. CHAIRMAN. WHI'
/ am heartily in favor OF IN" prlnci-
pies Of this till and think II Is one
that we owe to tho people who VIII
ln marnicd and disabled for life, VINO
have assumed the responsibilities
that this nation has on the front,
want to talk few minutes about a
subject little foreign TO II this att
ernoon.
In the Washington Post of May 3O
n New York correspondent on the
market situation contains the fol-
lowing which is very suggestive 10
the farmers of the United States gen
orally:
Bankers view the proposed in
crcascs in Federal taxes with equani-
nifty. They contend that if the new
tax schedule is made equitable there
will be no occasion for fear in Wall
street. President Wilson admitted in
his address that the existing statut"
had inequalities. The question oi
equal taxation raises n point. whether
cotton growers and cotton goods man
ufacturcrs will have 10 bear special
taxes. II is alleged that cotton goods
men are making as much as 300 per
cent profits. and that they have cs-
capped special taxation so far b"cauS"
OF influence in congress. Nothing
would please Wall street more than TO
see cotton taxed. 1t is asserted that
the prejudice of the solid south VIII
be overcome by the united influence
OF the rest of the country. II would
also please Wall street if the western
alton programme.
The question aries as to the truth
fulncSs OF some of these statements.
The cotton manufacturer Is taxed on
his income and his excess profits jus,
the same as the Wall street magnat".
So il the cotton farmer and so Is the
western raiser OF stock and grain. Tho
statement they have escaped special
taxation so far because OF influence
I'm congress- is not true II II means
that they are not burdcncd with the
war taxes imposed on all in the same
category alike. II the Wall street
gentry desire that specific tax he
levied on each pound of cotton and
on each bushel of wheat and on each
yard of cloth. they would put thrs'
people in a different class and tax
them specially. That would he poor
return for the patriotism which they
show in cndcavoring to produce the
necessary to win the war, TO wit,
bread. clothes. explosives, meat and
fats.
desire to call attention TO the fact
that the cotton producer in tn" past
wear has produced in refined oil. be-
tween August l, 1917, and April 30.
1918, 1907 7,SS7.l95 pounds-and this is
pure fat. They have produced cot
tonseed meal. directly useful in fat
tcning cattle. 1,9l2,605 tons.
The statement that cotton MAUI
facturcrs are making 300 per cent
profit is easily bclicvablc. but their
stocks are largely held in New York
and New England, and the people
who hold them are paying income
taxes and the corporations are paying
income and excess profit taxes. The
spindles that are located in the south
number 1i,323000, and in the balance
of the United States the spindlcs
number l9,i23.O00, and they arc run
ming almost to full capacity. and, | am
informed. arc having n protitahiC
business; hut is there any reason for
laying a different tax on them from
the tax laid on other people who are
making money? That they are maxi
ing money at the expense Of the cot
ton farmer whose product has been
deprecated in value recently by ma
nipulations on the New York market.
which made cotton for future delivery
sell for seven cents less per pound
than the actual cotton sells for. is
shown by n comparison of prices.
cotton was bringing 1Sa cents. 1t is
now bringing 80 cents.
(Figurcs compiled by former Scna
tor McLaurin of South Carolina. an
expert both in raising and marketing
cotton.)
Standard 27-inch dress gingham.
1911, 7ic: 1918. 25c.
Standard i-yard shecting. 1914. &c:
1918. &c.
Ten-quartcr peppcrrill shccting.
1914. 20c; 1918. G2ac.
William Anderson lvanhoc gingham.
1911. 10kc: 1918. 32Ic.
William Simpson standard prints.
1914. &c: 1918, 22lc.
\. c. A. he'd ticking. 1914, 1O4c:
1918. 3sGc.
Cotton blankets. special size and
weight, 1914. 75c: 1918. s2.25.
Child's ribbed stockings, per dozen.
1914. S5c: 1918. s2.25.
These prices show that the state
ma nit Is probably correct that they arc
handsome profits and are en-
deavoring to increase them by the re-
duction in the price of cotton. The
embargo on the shipment of cotton on
the railroads has been followed by
the calling of all loans on cotton 10y
the banks which necessitatcs the sell
ing of the cotton at n time when II is
to move II TO the mills, and
the purchaser is uncertain when he
can resell 1t or at what price. The
mills can afford to buy and retain il
in the warehouse where located until
they need II. and comparative figures
show that they have been waiting for
this condition to arise.
On April 30. 1917, there were stored
in the factory warehouses 2,033.356
halcs; at the same date in 1918 there