The Union daily times. [volume] (Union, S.C.) 1918-current, 1920-07-12
Bankers Asked to Assist

Columbia, July 1O.-A appeal to the bank
ers of the state to assist the South Carolina Di-
vision of the American Cotton Association in the
campaign which it launches on July 18th for the
construction of warehouses and securing of cot
ton graders in the various counties of the state
is contained in a letter which has been sent to
them signed by Gov. Cooper, j. Skottowe Wan
namaker, president of the American Cotton As
sociation; r. c. Hamer, president of the South
Carolina Division o fthe American Cotton Asso-
citation; B. Harris, Commissioner of Agriculture;
}. c. Rivers, Warehouse Commissioner, and W.
w. Long, director of the Extension Service of
Clemson College.
ITO maintain a profitable market for South
Carolina's principal crop-cotton-is the most
important problem now requiring the careful
study and energetic efforts of the southern peo-
pie" says the letter. 'The main essentials
in solving this problem are as follows:
First, to secure sufficient warehouse space
in the hands of farmers, of interests friendly
to them to satisfy our warehouse needs. The
U. S. Department of Agriculture estimates the
country damage to cotton causing a loss of
60 million dollars annually to the growers. In
addition to cotton not being stored in a bonded
warehouse it cannot be used as collateral for
loans. The non-~arehousing of the crop in
bonded warehouses is one of the causes of "dis-
tress cotton" which annually brings an enor-
nous loss also to the South.
Second, cotton growers must be urged and
assisted to market the crop over a period of IL
months, instead of dumping 70 per cent of the
crop on the market during the fall months as
at present. IF this be done the large loans now
made to cotton mills carrying their cotton pur-
chases for the year would probably split into
many small loans to the producers who hold cot
ton. IF cotton were marketed over a long period
instead of short one many of the speculative
features of the cotton business that are fire.
quently SO disastrous to the grower would be re-
moved. To put the marketing of cotton states
on a sounder basis. In other words, every line
of business now being conducted in the South is
working for its own best interest in joining
hands with those organizations now cooperat-
ing to bring about the much needed reforms
mentioned in this letter. Urge your patrons to
warehouse their cotton as soon as ginned and
market it gradually.
Third, the official grading of cotton while
it is still in the hands of the producer and the
direct marketing of cotton in quantities from,
producer to spinner, must be brought about
These things are coming and it is only fair to the
producer to aid him in every way possible to
bring them about, especially since these changes
"o"A" De FeneSteo IN greater prosperity OF all
the people, Grading and direct marketing have
already been demonstrated in this state to the
great satisfaction of every honest interest 1t
remains to extend this work until it covers the
entire belt.
IF you are not already member you are
urged to join the South Carolina Branch of the
American Cotton Association and lend your per-
sonal influence toward helping to put across
this work. A blank form for your use in maxi
ing application for membership is enclosed. T.,
this connection South Carolina now ha. ., y.
campaign to secure a larger percentage of bank
ers as members of the Association than anx
other state Let us not fail to stand at the head
of the list on this as we have stood in so manv
other lines.'