The Dillon herald. [volume] (Dillon, S.C.) 1894-????, 1919-09-25

sold them, so that you can see that
Europe can only buy when she sells
to us or borrows from us.
Now if South Carolina had such a
state warehouse system as l hoped to
be able to have in readiness when
the war ended, we could extend cred
its to European nations and sell them
the entire South Carolina crop, get
ting pay as the cotton was turned
into goods. If you were to cut the
discount rate on the German mark in
half cotton would bring so cents per
pound today The only way that we
would ever sell it is on credit, so
why not get the benefit of the trans
action for South Carolina instead of
allowing it to be pocketed by New
York fianciers. No one need to tell
ME that the exchange rates quoted in
London and New York are holding
goods against the insiders" Mr..
Harding understands this and for that
reason proposed the one hundred mil
lion dollar export corporation which
Mr.. Wannamaker is trying to organ
ize under the Webb act. 1t would be
unnecessary to tie up this tremendous
amount of money if the state Of South
Carolina could act. If cotton was a
North Dakota crop, the industrial
commission would extend European
credit through the bank Of North Da-
kota and the crop of this state could
be placed Immediately at from 40 to
so cents per pound. There is too
much lost motion in a voluntary or
ganization with millions of members
and a European government only
knows how to deal with another gov
eminent. They could understand the
state of South, Carolina, when they
don't know what to make of cotton
association. Remember that cotton is
an export crop, and that the portion
exported fixes the price of that which
enters into domesic consumption. If
the state warehouse commissioner
would negotiate direct with the Ger
man government for the sale of one
hundred thousand bales of American
cotton it would have tremendous
effect On the price of cotton in the
United States. In all export crops the
price of the exported cotton deter
mines the price of that which en-
ters into domestic consumption. The
quickest way to raise the price of
cotton is for someone connected with
the state warehouse system to go to
Europe and negotiate with some gov
ernment there for the sale of South
Carolina cotton, securing us from loss
by proper guarantees. There Is moth
ing to do except to wait until credits
are extended to Europe and South
Carolina can extend these credits her.
self and at less expense than through
Wall Street. strongly suspect that
the present >stagnations and the gen.
eral slump in prices is manipulated
from Washington so as to force the
ratification of the peace treaty.
The HI. G. l..
There Is something sinister in the
talk about lowering prices and rails
ing wages at the same time. 1t is
all right to say living must be
cheapened" but at whose expense? Is
the relief to consumers to be entire
ly at the expense of producers? The
farmer feeds the hungry and clothes
the naked and yet, in the past 10
years home owned farms have in
creased only per cent. and tenant
farms 20 per cent, while the popula-
ton in rural districts increased 20
per cent, the town population has
100 per cent; you can't rent
house in this town because Of the
exodus from the country. The way
to check this evil is to increase the
profits on the farms and make the
living in the cities more difficult. You
cannot expect or COMPEL the farmers
to continue to feed and clothe at less
than cost an ever increasing town
population.
Cotton Seed.
The most complete and unjust mo-
nopoly in this country is in cotton
seed and fertilizers. 1t is hard to cor
ner cotton because of it's world wide
use and the vast size Of the crop;
but Armour and Swift who are better
known as meat packers, with their
associates have absolute control Of
the oil mills and fertilizer plants in
this country. They often hire men
not for their real value but TO pre-
vent competition in the purchase Of
seed or the sale of fertilizers. The
recent so called cotton seeed confer
ence in Columbia is sample Of the
boldness with which they are seeking
to destroy competitive market. If the
farmers do not organize intelligently
they will be steadily pushed to the
wall. This trust intends to name the
price the farmer is to get for his seed
and then sell him his meal and fer
tilizer at the price which the trust
will also name.
Yours truly,
John L. McLaurin.