The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1921-03-05
CUT ACREAGE
OR GO BROKE
Farmers VIII Ruiz,
Themselves and Bank
rupt the South If
They Plant Full
Crop of Cotton


Columbia, March 3.-Exccutivc
committees OF various organizations, /
meeting yesterday at the jefferson
hot"'. went on record as favoring
reduction i'm cotton acreage, accord
ing 20 the Memphis plan, and also
adopted u resolution calling uDon the
bankers OF the state to meet in CO.
lumfia AT AN early date and discuss
tn" agricultural situation and outline
plans for meeting ii. The appoint
m"nt Oi the committee to inform the
executive committee OF tho South
Carolina BankcrS' association was left
IN tn" uandS OF Bright Williamson of
Darlington. The committees meet
ing together yesterday were those of
the South Carolina division Of the
cotton association, the bankers as
sociation, commercial secretaries as
SoCiation. the development board, the
press association and the automotIvc
trade association.
The meeting was characterized by
comment on the outlook for the fu-
turc Of this state. gloomy forecasts
being mad" rs to future conditions
unless the farmers of South Carolina
r"duc" th"iF acreage sharply ana
raise more food crops. for which SOM"
system OF marketing must be pro-
Nidcd. 1--WE can not eNag2crate the
seriousness IF the situation facing
the south" said X. |. Manning. prcsi-
dent OF IN" American Products EX-
port and Import corporations "Au
who have the welfare of tho
South at heart should insist on
acreage reduction. II the banks
should change thC;r policy ana
call for cotton to be sold. it is i'm
possible to say to what point it would
descend in price. The UcYt 90 DAYS. 1
believe, viii tel the tale: if cotton is
/ sold in any quantity, the farmers viii
not be ba,c to settle their ubIjga-
tiOnS with bankers aud merchants.
II they hold on to their cotton, they
viii likely be able to settle their
ObliEations. If cotton is sold, il
means that more will be planted II
/ it l. held. the acreage will be re-
/ Juccd."
/ 'Ihc banker. tho land owner. the
shnrc croppcr and the lien merchant
ana the part thry have to play in
acr"agc reduction were discussed at
/ length. it being finally brought out
! 10y j. II. Stribling Of Oconcc county
that a"rra@" reduction is purely a
! financial question. "If the banker
furnishes the money. the cotton will
Dc planted" .did Mr. Stribling. "If
he refuses The money, the farmer
! can't plant Cotton.'
II. l.. StackhouSc Of Columbia held
;har the banker was helpless, saving
that tn" banks in New York would
! call on the banks i'm this state for
| loans, and that the banks in turn
would be forced to call on the Dro-
/ ducorS. lie neld it was up TO the
! land owners to bring about the re-
| duction. The bankers i'm New York.
who have don" all that IT,. ,outhcrn
/ farmer has y right to expect, will
show preference TO the farmer who
cuts his acrraG" 80 per cont, he said.
| Ii til" Indications are ;hat the farm
! Crs are going to plant a full crop
again this year, ,hcn the bankers
Will call for jhcir loans, which will
| force the selling OF cotton now being
held, he argued.
Mr.. Stackhousc said the textile
manufacturing plants have their
! archOUSCs fun Of manufactured
! products; that there is no demand for
! their goods; that many Of them have
closed down, and that others are run
n!nG on part time, ana that it would
! h". FOLLY for the farmer TO grow a
| luli crop under present conditions.
The state would be better Of, he said,
| IT no cotton were grown
TIL" lien merchant was discussed at
length and the land owner, too. was
mentioned, though it WAS finally
agreed that the banker holds the
keys in his hands. hence the rcSolu-
tion TO have the bankers meet in Co.
lumhia and discuss plans for reduc-
ing acreage.
Governor Cooper made the opening
address at the meeting, saving that il
Would be little less than criminal for
The state to produce as much cotton
this year as il did last Bright Will
hanson Of Darlington presided after
Governor Cooper had retired. Among.
me speakers were: l.. {. Hamcr of
tn" state Cotton association, X. l..
Manning of the export corporation
}. :. Wannamakcr Of tn" American
COTTON association, II. l.. StdckhouSr
Of til" Standard Warehouse COM
panY, j. II. Ciamcy Of Oran@cburg.
limNio Jordan of Monticello, Ga; ~.
l.. Jordan OF Dillon Of the state
Press association, ~ Il. Gihbcs Of
IN" autOmoLiVC association, w. w.
Long Of Clemson college. Il. Harris,
commissioner of a-ricuIturc; j. p.