The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1920-08-27

of the country, to the end that
lnere might be adequate and fair
facilities and rates for the mobil-
ization OF the products OF the
country offered for shipment.
The equalization of freight rates,
import, export and domestic, and
equal harbor facilities mean
more than anything else in the re-
juvenation and expansion of the
direct foreign trade of Southern
manufacturers and Southern pro-
ducts through Southern ports.
have taken a leading part in
securing the ALLEGATION of ships
by the Shipping Board to South
ern ports and have had consider
able success.
With the increase in our for
eign trade, the South will be able
to take advantage Of the oppor-
tunities offered, with its conse-
quent prosperity. 1t is not gen.
orally known that most Of the
larger cities of the Middle West
are closer to the port Of Charles
ton and other Southern ports
than to the port of New York.
In this connection, while dis
cussing transportation, might
say that while ranking member
Of the Postoffice and Post Roads
Committee, I collaborated and
fought through with Senator
Bankhead and others. The Good
Roads Act which appropriated
S2OO,OO0,O00 for the government
to cooperate with the States in
the construction of good roads.
The construction Of good roads Is
one of the greatest needs which
confront the people Of this State
as we'll as the country at large,
and I pledge myself for the fu-
ture as in the past. to fight for
any proper measure which will
lead to the construction Of better
roads.
One of the very many evils
that resulted from the Civil War
was our financial condition un-
der the Banking and Currency
Act Of 1863. This system was in
effect up to the time Of the pres
end Democratic administra-
ton. Panics were frequent and
the victims of these panics were
the weak and unbefriended. In
1913 was passed the Federal Re-
serve Act, the greatest construct
i've piece Of legislation enacted
since the Civil War. This Act.
together with the Farm Loan Act,
was passed by virtue Of a direct
personal appeal Of President Will
son to representatives and sena-
tors who were friendly to him.
With this measure, as we'll as
every other measure, voted With
the President and did all in
my power to secure the pas
sage of these Acts IS the re-
suit Of these measures which en-
abled the South to capitalize its
resources, the bank deposits In
the South have reached 900 per
cent as against the Eastern and
Western sections inc,eas: OF
about 300 per cent. These meas
ures spelled the financial eman-
cipation of the South
While the Federal Reserve
Bank measure was pending
realized that for the act to
have a direct benefit for the
agricultural classes. agricultu-
raj paper must be recognized the
same as commercial paper and
that six months time should be
given that paper as against the
90 days given commercial paper.
It takes six months for the far
mer to produce an asset to meet
his liabilities and any shorter
time than this period given his
naper was a mockery to him.
introduced and secured the in
corporation in the law my amen'-
ment to section 13. whereby ag-
ricultural paper is made the ba-
sis for the issuance Of Federal