Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1920-07-14
To the Chairman Of the Democratic
Committee Of Oconee County


Committee Of Oconee County
Mr.. Chairman:
1t Is a matter Of deep regret that
am unable to be with you to-day.
But am selected as one Of the del
egates from South Carolina to the
Democratic National Convention at
San Francisco, and fclt 1t to be my
duty to represent my State in part 1t
a convention Of national Importance
rather than to follow my personal
desires and be with you at this time.
] would have liked to appear before
you in person and talked with you
OF the various affairs Of moment to
you and the country which | have in
augurated and in which l have par
ticipated. | think l would be able to
give you more intimate grasp OF
those measures. But my stewardship
OF the Office which you conferred up
on me, and the record ! have made,
is known to all. l have given you
my best efforts, and I am proud Of
the things l have been able to ac-
complish. While think that l have
had an instrumental part in the pas
sage Of much useful and remedial
legislation, feel that in the next ad-
ministration / can accomplish more.
and there are many things which
must be done. My committee ap-
pointments are such as to give me
an opportunity to use to the fullest
y position as Senator, and this; to-
Eether with my experience and the
established confidence and respect Of
my colleagues, places me in posi-
tion where l can be Of more service
in the future than have been in the
past.
1t has been charged that l have
devoted principal part OF my time
TO cotton and the agricultural inter-
ests. have devoted large part Of
my time to these interests, and l was
right. l believed what the last few
years has demonstrated-that this,
being the principal source of revenue
to the South, II we could secure
price anywhere approximating it's in
trinsic value, it would become the
source OF the development OF other
businesses and other resources. A
prosperous business cannot be main
tanned in sterile or poor country.
Merchant and banker and profess
sional man in the South have been
dependent upon the same source for
their income. What few manufactures
we had were largely the investment
of outside capital and the profits
which accrued therefrom went else
where. The profits that have in the
last few years been realized have
liquidated old debts, have given op-
portunity for investment, have slim
ulated every business enterprise in
the country by home capital, and
Will, If we can maintain 1t. ultimate
ly make us independent of any one
source OF revenue
| DO not like to trespass upOn your
time. but will briefly give a resume
or those measures which | have or
lglnated and had passed or have had
pre-eminent part in putting
through. Recognizing that the foun-
dation Of the prosperity Of the South
depended largely upon the prosperity
OF the agricultural interests, | ad-
dressed myself to the problem of the
agricultural interests securing pro-
per credit with which to finance their
crops. There were two things which
initiated against a higher price for
cotton. One was the lack OF proper
credit, and the other was the rules
and regulations established by the
cotton exchanges.
Under the old banking and cur
rency law Of 1868 the supply of cur
rency was absolutely under the con-
troll or few, and on account of its
1nheXlDlllty the situation was such
that the more we produced the less
money per unit Of production we had.
so that when we produced a crop suf-
hclently large to meet in some meas
nre the demands Of the world, the
less we got per unit. When the pres
ent administration came in and the
new banking and currency law was
under consideration, realized that
mere must be in that bill special
provision for the farmers. 1t is not
generally appreciated that the char
acteristic difference between the far
mers and the other producers is that
the FARMER has to wait for six months
or so before he produces a CONNER
cial something TO sell-to
meet the obligations incurred in pro-
ductlon. while the artificial producer
CHerS Il complete commercial article
every day. and therefore has some
lhlhg 10 sell to meet the debts incur
icd IN us prouuctiOn The ordinary
-, to ana 3O-day credits granted
'hc manufacturer or artificial produ-
Ger ald not meet the requirements OF
the farmer as natural producer.
therefore introduced an amendment
10 this bill and secured its passagc,
giving six months time for all notes.
drafts and bills issued for agricultu-
raj purposes, thus giving the farmers
iimc 10 produce something to meet
the liabilities incurred in production
The Federal Reserve Act properly
administered has proven itself to be
the greatest piece of constructive leg
islatiQn, as affecting the prosperity
and development OF this country,
ever passed.
| addressed myself to the existing