The Dillon herald. [volume] (Dillon, S.C.) 1894-????, 1919-02-20
COTTON ACREAGE AND COTTON
PRICES.

ed a bill which aims to limit the
farmer to ten acres of cotton to the
plow. Senator Baker is trying to &C
complish by legal methods that which
it is impossible to accomplish by
agreement. ..... 49,,
There are those who will be ready
to say that to attempt to limit the
acreage by law is an attempt to take
a mans rights" away from him.
There are lots of folks who harp
on their rights" but have very
little to say about what their duty"
is.
We do not hesitate to say that
Senator Bakers bill is a good bill,
and we earnestly hope that it will
become law.
Men whose daily business 1t is to
keep their fingers on the nations
financial pulse tell US the south can
not finance two cotton crops. If the
south had its own money and did
not have to borrow from the north IT
could finance half a dozen crops. but
unfortunately the south is borrow
or IF the man from whom 1t bor-
rows does not see fit to lend the south
is helpless.
We do not know what conditions
are in other sections, but we do know
that Dillon count! has all of its sur
plus money and much borrowed mon
ey tied UP in the 1918 cotton crop.
Dillon county is not broke; 1t has
more visible wealth at the present
time than it has ever had before, but
Dillon county is not able to finance
two cotton crops and plant the same
acreage in 1919 that it planted in
1918.
The average crop in Dillon county
is 10000 bales. The Jan. 18th gov
report showed that Dillon
had ginned up to the middle
Of January about $4,000 bales.
Nearly two-thirds Of the entire 1918
crop is being held for higher prices,
being distributed as follows:
In bonded warehouse
County -- $4,000 bales
In bonded warehouses
(elsewhere) - 5000 oaies
Held at home under
sheds, etc. - - 5000 bales
rotal,- $4,000 bales
II all this cotton were turned
loose today it would bring in round
numbers something like two million,
six hundred thousand dollars.
According to their last statements
the total loans and discounts OF the
seven banks in Dillon county were
around two million dollars. 1t is con-
estimated that SO per cent
Of these loans and discounts represent
money loaned on cotton. This leaves
1 surplus in the 1918 cotton crop Of
sixteen hundred thousand dollars or
more than enough to finance the
1919 crop. In other words, Dillon
county lacks only seven thousand
bales of having on hand at the pres
ent time a normal crop in which it
has an equity Of sixteen hundred
thousand dollars.
But this cotton cannot be used as
a medium OF exchange, the banks are
not able to double their loans in or
der to assist the farmer in making
another $4,000 bale crop, and there
fore acreage reduction in Dillon coun-
ty has become a necessity. 1t is rea-
sonable to assume that similar con-
ditions exist in other sections of the
south.
This makes it very clear that the
time has come for merchant, farmer
and banker to cooperate with each
other in making the 1919 crop. The
farmer must reduce his acreage and
the merchant and banker must as
sist him as far as they can in making
q limited crop. If he plants a full
crop and the price declines to some
thing like 10 or Is cents he suffers
not only big loss in what he has
held over from the 1918 crop, but a
big loss in the 1919 crop, and trouble
Is sure to follow.
Senator Bakers ten-acre-to-the
plow bill puts every farmer on an
equal footing. 1t prevents the big
farmer who has a surplus Of money
from increasing his acreage and puts
him on the same footing with the