The herald and news. [volume] (Newberry S.C.) 1903-1937, 1919-06-24
Realizing that the American Cot

Realizing that the American Cot
Association is engaged in work OF
life in the south; realizing that cot
ton has blessed every section of the
globe on which the sun shines except
the South Ito the South it has proved
a curse); realizing that the CONNER
cial handling of cotton has brought
wealth in every form in which it has
been handled to every country in
which it has been handled except the
South Ito realizing that for. the last
60 years the South has producd and
sold cotton on the basis of starvation
wages and at starvation prices; real
izlng that cotton is national ques-
ton and. not a sectional question;
realizing that between the years
18s0-1914, 35 years the total value
of the foreign exports of raw cotton
from this country was $10,843,114,-
637, or s2,2S2,ss7,437 more than
the total of the worlds gold produc-
ton of $8,560,227 200 during the
same period; in other words, if every
ounce of gold mined on earth during
that 35 year period had been pour
ed into America it would have fallen
$2,282,,887,437 short Of paying
Americas bill against Europe and
Asia for our raw cotton; realizing
that during the ten year period OF
1905-1914, inclusive, the value of
the exports of raw and manufactur-
ed cotton and cottonseed and it's
products aggregated about $780,
100000 as a contribution TO our for
eign trade; realizing that from the
discovery of America in 1892 to
1914 the total production Of gold for
the entire world was s15,690,000,-
600, while the total value of the
South's cotton crops, including seed,
for the IS year period, 1Ss0-1914,
was $1S, ,000,0 900, or about ST.
50o,000,000 more than the value Of
the worlds gold production for 423
years, from 1892 to 1914; realizing
that it absolutely necessary that the
South change these conditions and
its commercial life and the various
phases of it's business and social life,
that are affected as a result Of con-
ditions brought on by the production
of cotton which has been sold at
starvation prices for the. last 60
years:
Therefore, be it resolved, That
this association hereby indorses in
the strongest terms the great work
being done for the purpose of chang
ing and improving the conditions as
outlined above by the American Cot
ton Association; that we further bind
ourselves to cooperate with, and lend
every assistance in our power, to the
American Cotton Association. We
realize that they are engaged IN a
work of vast commercial Importance
and engaged in a work Of great serv-
ice to every section Of our nation.
We, further, indorse in the strong
est terms and pledge our undivided
support to the following specific lines
of work now being undertaken by
the American Cotton Association:
a. Formation and putting into
operation of the export financing cor
poration, the organization of which
corporation we realize will not only
prove of untold benefit to the entire
South, will revolutionize the cotton
and various allied business interests
Of the South, but which will also per-
form a wonderful service in arrang-
ane credits to war stricken Europe,
i1z the purpose Of enabling them to
finance their purchases cf raw cot
ton, 1t being necessary TO 1urhlsi
them with means for financing at
least Is per cent. of their purchases.
We realize that as result of the or
ganization of this corporation after
it has fulfilled it's function as an ex-
port corporation it will furnish the
South with financial institution
which will prove of vast benefit to
them.
{2.) We, further, bind ourselves
to cooperate with and assist in every
way possible the formation Of sys-
item of State controlled warehouses
throughout the cotton belt and uni
form standard warehouse receipts
for the entire cotton belt.
da.) We, further, indorse and
bind ourselves to cooperate with and
lend eyery assistance possible in the