The courier-index., 1920-12-10
We're Paying for our Folly
(Editorial)

The south is not broke It is just bent
 The cotton grower is only reapng the fruits of his sowing.
 For four years he has reveled in prosperity. He has rioous in his expenditures dollar didn't count much dime under normal conditions He squandered like the prodiga He seemed to have thought that there must be balancing of the that pay day would come-that the landlord would be around collect for his folly He bought the hghestprc ed automobiles the fancest silk shirts the oudest socks He lived like prince because he had the price of high v ing He forgot the hard times he endured in 1914 when he trying to pedde bale of cotton at six cents pound He only remembered the bumper crops that followed and the enormously high prices he received for his products He could have saved his profits and been good shape meet the inevitable rainy day. but he figured the would always shine and that the clouds would He dsspated the point of prodgay and proflgacy He bought land at inflated values He borrowed every dollar the banks would let him have He extended unlimited credit to his tenants He gambled big scale The world needed his cotton he figured and the world would have to pay him big price He paid notice to the hog pen the hay bn the crib He could buy corn, hay, oas meat and lard with his cotton money.
 He offered fancy price for his cotton last sum- mer before it made He in the saddle then and he vicious pair of spurs The price didn't suit him. He intoxicated with his The "fai ure and hard tmes had been plotted out of his lexicon He nothing ahead but prosperity in great gobs.
 But the bubble has been busted. He now faces a most serious crisis The banks have shut down addition al loans He cannot sell his cotton He enters new year with all his collateral and all his securities and all his earnings of the past year hock He cannot pay his ob legations and his creditors know it will do good to fore
 
 It does look like the application of little in situation like this would just naturally soak in without any emphasis We believe the lesson taught by conditions in 1914 the correct lessons to preach If it has ever any me been wise policy to grow feed and food crops homef this system of farming is good any year-it good every year If the farmers of Lee county had conserved thirty per cent of the profits they during the past four years they would have their present cotton crop surplus There not farmer in county and this statement has been often made who raises his and meat but who is independent and he go any bank any merchant in the county and get any reasonable credit.
 Necessarily the powers that control the finances of the nation going to loosen after the first of the new year and extend worthy sufficient credit to n sure the making of crop It would be suicidal to clamp the lid down tight that intelligent farmer could not continue his activities. But thing is cerainthe profligate wastefu and extravagant whether business man. farmer aborer will have hard sleddng during 1921 The year going to be year of readusment year of strict economy year of hard ship and suffering for some but year of awakening for all The man who does hot far enough ahead to know he must practice economyknow he and his family must live upon a minimum outlay of cash credt-mght we'll take and call the deal off, He will not get anywhere with his banker his merchant
 It takes situation like this to bring to senses and let hope that again will the southern farmers be mproviden during prosperous periods that they will go broke when lean year comes
  to tba adc Of thairr