Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1919-05-09

North Carolina state warehouse sltua'
tion. by Clarence Poe Is worthy Of care
full study.
1. II Will Insure Better Prices BY
Better Regulating Sales
First Of all, q state warehouse sys'
tenn helps farmers keep cotton of the
market In times of crisis and depres
sion such as now face us. To force
hundreds of thousands of unne edet
bales of cotton on a satiated market
is like feeding corn to a foundereo
horse. We must provide means where
by farmers can hold cotton on the
market when it goes below the cost
of production and thereby compel q
return to normal values. The only
way to effect this result Is to have Q)
a scrupulously supervised state ware
house system together with (2) sur
ficient volume Of capital behind 1t to
make its receipt recognized as being
lust as good as a good bond. And sucn
a system 1t may be noted in the out
set will be just as beneficial 10 ouI
business interests as to the FARMERS
themselves. AS The Cotton and Cot
ton Oil News of Dallas and Memphis
said recently:
"The need of warehouses was never
so forcibly felt as it has been recently
The farmer and merchant have firmly
insisted upon holding their cotton Tor
better prices. Notes were, however
falling due, notes that were made pay
able at cotton harvesting time. Joo-
bers. manufacturers and wholesalers
thereupon presented their bills. The
response was, Wait! Wait till cotton
advances! But jobbers, manufactur-
ers and wholesalers were also racing
notes that were due, and generally
speaking, they could not wait"
The remedy of this situation as The
Cotton and Cotton Oil News went on to
saw. is a better warehousing system:
For the lack of proper housing there
is a deterioration in cotton and loss
of money that Is appalling"
2. Will Make Cotton Better Collateral.
Such a system, however adopted
proyided 1t Is backed by an ample
guarantee fund wherever the state IT.
self does not put its own credit and
guarantee behind each receipt-wlli
guarantee behind each receipt-wli
make cotton just about the best col
lateral on earth. Cotton Is almost the
only agricultural product grown by man
which can be kept indefinitely with
out injury; and the unusual. sare-
guards thrown around both storage
and selling in a properly conducted
state warehouse systematic ample
binding of all officials and provisions
for an additional guarantee fund-Wlii
soon make such state cotton ware
house receipts look as good as gov
arnment bonds in all the hnanclai
centers of America In this way II
will be easy to draw ample money 1or
financing the states cotton crop from
these financial centers. This Will help
farmers directly by making II easier
IN hold cotton for fair prices. And II
will help farmers and all other classes
indirectly because by freeing North
Carolina banks Of this burden, we Tree
their funds for better serving all the
other financial needs of our people.
8. Saving From Country Damage.
warehouse system is needed 10
stop the enormous losses from "coun-
trv damage" On this point j. T.
Latham, of the ]. E. Latham company
Greensboro. N. c., than whom there
are few better cotton authorizes
among southern business men, SAID
recently:
There is a loss to cotton farmers
every wear not of hundreds OF dollars
but of millions of dollars by what Is
known as country damage l pelleVe
that the south loses by country dam
age enough money every two years 10
hni,d a standard cotton warehouse OF
IN 600 bales capacity in every town In
tho south that handles annually as much
as 10000 bales or more. Among the
worlds outstanding blunders 1t Is marc
TO find a greater one than allowing
wear after year, from one to hVe PEI
cent of the cotton in bales to go 10
waste"
A state warehouse system not only
nroyides facilities for storing cotton
and checking this colossal loss' put IL
dtznifies the matter of warehoushs
and provides means for carrying OF
q statewide campaign against TINS
colossal country damage" folly. Lev
any state by the passage OF sucn an
act say to every cotton grower withil !.
,+s borders that here is great eVi
which needs to be remedied and tha'
the state wishes to help remedy 1t
and the subject is at once given great,
or attention and emphasis than II
would be possible for it to get IN any
other way.
q. Saving in Insurance.
Through the state warehouse system
there is a great saving in insurance
and in the general storage cnarses
A farmer told us recently that ne mas
a farm partly in a state which mas
warehouse system and partly IN