Americus times-recorder., 1920-03-18
FARMERS BACK
DORSEY'S BANK
AS COTTON AID
Sumter Men, After
Hearing Governor,
Subscribe For Stock

Money makes the mare go" was
the theme of the address of Cover
nor Hugh M. Dorsey at the court
house yesterday afternoon to a gath
ering of Sumter county men, mostly
farmers, in discussing the Georgia
Loan and Trust corporation, the
huge cotton bank which he is organ
izing as the financial adjunct of the
American Cotton Association. The
capital and surplus of the bank is to
total more than two millions of dol
lars, and Sumter's quota based on
the 1914 cotton production, is ap-
proximately $4,000, with share at
1926 each. At the conclusion of the
governors address subscriptions to
the bank were called for and more
than so shares were taken within a
few minutes. Twenty more shares
had already been subscribed for
Sumter county by DR.. Peter F. Balm
sen, bringing to total past 70 share
taken here.
The talk of the governor was ex-
planatory, showing the farmers the
need for the bank in connection with
the American Cotton Association,
and made an excellent impression.
Before adjournment R. P. Stack
house and T. M. Hudson were ap-
pointed committee to canvass the
county and raise Sumter's quota of
subscriptions, they being empower
ed to appoint another committeeman
to assist them in each militia district.
They were of the opinion that only
a brief time would be required to OBJ
tain the required subscriptions be-
cause of the attractiveness of the in
vestment offered and the obvious
need for such an institution. "Doub-
ling your money within years" was
guaranteed" by Governor Dorsey.
After his talk, the governor, who
was suffering from an over-worked
throat, consulted DR.. Grubbs, and,
after a walk about the town for
brief period, retired to his room at
the hotel where he rested for the
ception in which the townspeople
might meet him had been planned but
at the governors request, because of
his physical exhaustion, caused by
continuous travelling and speaking for
several weeks, this was called off.
This morning the governor left by
auto for Dawson where he was to
speak at 10 o'clock. He was accom-
panied by S. J. Slate, of Columbus,
State Fish and Game Commissioner.
In his talk Governor Dorsey made
plea for independence of the cot
ton growers, and showed that this in
dependence could not come about un-
til financial independence had been
achieved, which, he said, this cotton
loan bank would accomplish very
largely. 'You know" said he, 'that
the South has monopoly on cotton
and everybody, who handles it, ex-
cept the farmer, has grown rich on it.
| have seen farm conditions all over
this country, in England, Ireland and
France; other men who have seen
rural conditions all over the world
says the same thing, that nowhere
are the rural population in such a
poor and unhappy state as in the cot
ton belt of this country. The South
ern insane asylums contain the wives
of more farmers than those of any
other section of the country. Why?
Because of the hardships of farm life
under cotton slavery"
Among the subscribers to the cot
ton bank stock at the meeting were
r. S. Pryor, R. P. Stackhouse, J. A.
Hixon, c. c. Hawkins, N. A. Ray and
]. S. Mathews.