Richmond daily register. (Richmond, Madison County, Ky.) 1917-1978, 1921-11-07
STONE FULLY EXPLAINS
MARKETING PLAN
Bingham Unable To Come To
Talk To Growers So Ex-
Madisonian Speaks

was learned that Judge Rober;
". Bingham was unable 10 get
here for the speech on the tobac-
cu situation that he had been adj
vcrtiscd for Monday afternoon.
However, they heard splendid
address and clcar-cut exposition
ct the cooperative marketing
plan from James {. Stone, one OF
the favoritc sons of old Madison.
Mr.. Stone is wee chairman OF the
Lig farmers movement. and lie
explained il completely and thor
Oughly.
MIR. Stone said in part:
Only the farmer is to blame
or the low price ne Is forced to
accept for his product from the
manufacturers. He IS the ONLY
man who j. forced to pay the sell
ers' prices Tor what nc buys and
% accept the buyers prices for
what nc sells.
We cannot afford TO fail i'll this
'uuvcmcnt-and we will NOT fail.
This is a mere business PROPOSE
ton. The crop should be held
by the cooperative organization
and fed to the market just as
,lowly or aS rapidly a. the guar
kct demands. Heretofore. the
farmer has dumped his tobacco or
tho floors OF the warehouses, and
has OF necessity accepted any
price the manufactured agreed TO
gvc for it
The manufacturer is hot to
blamc. 1t is only reasonable
that he should buy tobacco a.
chcaply a possible. and sell II fUr
a- high price Is possible. 1t is
~ to the farmer to remedy the
icplorablc conditions by effccting
M organization 81 strong that the
growers will hc i'll position to- tiN
70 reasonable market value for
,Heir tobacco.
''Thc banks are behind TINS
movement, principally for the rea
-ou that under this organization
ne banks would have tangible
-ollatcral in warehouses to secure
their loans to the farmers. The
Federal Reserve Board and the
War Enhance Corporation stand
ready 10 lend financial support tu
he organized growers while the
individual farmer cannot hope for
assistance from these sources.
That millions ui pounds ui to-
nacco are adGcd i'll PLEDGES every
irv days in the present campaign
'lccrlV demonstrates that the
growers are becoming awakened
70 the conditions. and COguiZani
i the practicabilitv oi the pro-
posed marketing plan. There
will be uo organization until the
= per cent OF the acreage is.
pledged 10 the movement This
goal will be- attained but ii will
AXE earnest and concerted effort
,n every couftr:in the hurley to-
laCco area. = -.-.'--f. ,i
~ real caIatHit $ ,H1ould threat
II the tobacco industry of this
tate should' The plan fail This
l. not one. man fight but y
problem for all the growers all
over the district. The education
II little children is dependent OH
the outcome. There is not Il
merchant or professional man in
the district whose prosperity
would continue if the plan for .
,tabilized tobacco market should
iail TO go through.
There Is no doubt "a To the
-ourdness OF the plan. Among
the ablest bankers ana other ii
naucicrs OF tile country nave Civ
II it unqualified approval and sup
port. 1t offers a beacon OF hope
to the farmers who are oppressed
bv the heavy debts incurred by
the purchase of high-priced lands
and tile deplorable slump III the
tobacco market. There are now
more mortgages OH lands in the
hurley district, more inoney ow-
ing to merchants and banks and
few comforts and advantages in
the homes of the growers than
ever before in the history OF the
tobacco raising industry.
The primary purpose ot the
proposed cooperative plan IS TO
sell tobacco in an intelligent man
uer. The same tobacco which tine
farmer sold for one-half cent is
now selling at Is to 20 cents. but
the money is going to the Golfers
of the manufacturers rather than