Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1919-04-11

from the compensation allowed to the
producer for his cotton, the south
would have long since gone into bank
ruptcy. These conditions have been
tolerated as long as it has been posi-
BILE to induce a patient, suffering
people to endure them.
Producer Must Market His Own Pro-
duct.
We realize that it is absolutely nee
essary for the future advancement,
progress, prosperity, independence and
general good of the south that we
make vital changes in the commercial
methods which have existed for years
and years past.
First: The cotton producer must
market his own product; must name
the price thereon. He must establish
a banking system that will properly a.
nance the cotton interests, and the va
rious allied interests of the south;
which will make such thing as "Dis-
tressed" cotton Cotton forced upon
the market because the producer can
not borrow money with which to carry
it) unknown; which will furnish a cor
poration for marketing, both domestic
and foreign, so that the cotton produc-
er can sell his product the same as is
done by other producers in every sec
ton, not only in America, but in va
rious sections of the world. 1t is not
only necessary that these changes be
made at once, but this isian opportune
time in which to make them. Ideal
conditions exist; the producer recog-
nizes as never before the necessity for
these steps. He will invest in Liberty
loan bonds in G banking system; in
marketing corporation. Large ware
houses used by the government in the
world war are located at convenient
points in the south and would offer
ideal facilities for some Of the pur-
poses named herein. These ware
houses are being sought by representa-
tives of the New York cotton ex-
change, who are recognizing the nee
essity of changes and are preparing to
put their gambling institution in our
very yards 1t will be a calamity to the
south to lose this opportunity.
Twenty Delegates to Be Elected.
Therefore, be it resolved:
First, That twenty (2O) delegates be
elected by this convention, whose duty
it shall be to handle these various sub
jects, and to use every effort to put
the same into execution as speedily as
possible; to give the matter of prop
er banking system for the south spe-
cial consideration, the matter of mar
keting, exporting and warehousing
corporation special consideration; the
matter of stabilizing the price Of cot
ton, and setting a minimum price for
same; and all those allied ques-
tions; to form the most feasible
and practicable plans for carrying the
same into effect possible; to meet with
representatives from each of the other
cotton growing states in New Orleans
on May 14th and to there formulate,
adopt and put into execution the most
feasible and practicable plans for the
entire cotton belt to meet the present
conditions, and to carry into effect and
force the above outlined interests Of
the south; and such additional needs
for thet cotton belt as they may deem
wise and expedient.
Necessary to Change Banking Laws.
Second. Be it resolved that the
banking laws of the south, both ma
tional and state, should be revised So
as to permit bank to carry for the
producer Of cotton the same as Liberty
loan bonds are now carried, without
charging this against the credit to be
granted him. In other words, cotton
stored in a warehouse, properly insur-
ed, being self-retiring liquid and one
of the safest of all assets, should not
be handled so as to cripple and retard
the credit of the producer, and force
him to dump it on the market and sell
as distressed" cotton, resulting in Sc
rious injury and loss to the producer.
Cotton Should Be Carried by Banks for
Producer Without Gripping Their
Credit.
Therefore, be it resolved, that our
legislature and the legislatures Of the
various cotton growing states our
governor being hereby petitioned and
urged to request that necessary amend
ment to existing laws be put into effect
and enforced, to permit banks to car
nv cotton in addition to the regular
line of credit now permitted to handle
cotton practically on the same basis as
Liberty loan bonds.
Cotton Should be Carried Same as
Liberty Loans.
Third. That the banking depart
ment Of the national government,
through the Federal reserve board and
otherwise, be, and is hereby petition
ed, and urged to adopt the same plan
that is to permit national banks to
grant loans to producers Of cotton on
sotton, not charging same against the