The Dillon herald. [volume] (Dillon, S.C.) 1894-????, 1921-03-10
CUT ACREAGE OR GO BROKE
Farmers Will Ruin Themselves and
Bankrupt the South if They
Plant Full Crop of
Cotton.

Executive
committees of various organizations,
meeting yesterday at the Jefferson
hotel, went on record as favoring a
reduction in cotton acreage, accord
ing to the Memphis plan, and also
adopted a resolution calling upon the
bankers OF the state to meet in Co
lumbia at an early date and discuss
the agricultural situation and outline
plans for meeting it. The appoint
ment of the committee to inform the
executive committee of the South
Carolina Bankers association was left
in the hands of Bright Williamson OF
Darlington. The committees meet
ing together yesterday were those of
tn South Carolina division Of the
cotton association, the bankers as
|sociation, commercial secretaries as
sociatIon, the development board, the
press association and the automotive
trade association.
The meeting was characterized by
comment on the outlook for the fu-
ture Of this state, gloomy forecasts
being made as to future conditions
unless the farmers of South Carolina
reduce their acreage sharply and
raise more food crops for which some
system of marketing must be pro-
vided. 1--WE can not exaggerate the
seriousness of the situation facing
the south, said r. 1. Manning, pres
ident of the American Products EX-
port and Import corporation. "All
who have the welfare of the
South at heart should insist on
acreage reduction. If the banks
should change their policy and
call for cotton to be sold, it is i'm
possible to say to what point it would
descend in price. The next 60 days, 1
believe, will tell the tale; if cotton is
sold in any quantity, the farmers will
not be able to settle their obiiga-
tiCns with bankers and merchants.
If they hold on TO their cotton, they
Will likely be able to settle their
obligations. If cotton is sold, it
means that more will be planted. If
tit is held, the acreage will be re-
Guced."
The banker, the land owner, the
share cropper and the lien merchant
and the part they have to play in
acreage reduction were discussed at
length, it being finally brought out
by j. p. Stribling of Oconee county
that acreage reduction is purely Il
financial question. 'If the banker
furnishes the money, the cotton will
be planted" said Mr.. Sulbling IF
he refuses the money, the farmer
can't plant cottn."
T. b. Stackhouse of Columbia held
tnat the banker was helpless, saying
that the banks in New York would
call on the banks in this state for
Al, IL.
would be forced to call on the pro-
ducers. He held 1t was up TO the
land owners TO bring about the re-
duction. The bankers in New York
who have done all that the southern
farmer has right to expect, will
show preference to the farmer who
cuts his acreage SO per cent, ne said.
If the indications are that the farm
ers are going to plant a full crop
again this year, then the bankers
will call for their loans, which will
force the selling of cotton now being
held, he argued.
Mr.. Stackhouse said the textile
manufacturing plants have their
warehouses full of manufactured
products; that there is no demand for
their goods; that many OF them have
closed down, and that others are run
ming on part time, and that it would
| be folly for the farmer to grow a
full crop under present conditions.
| The state would be better off, he said,
il no cotton were grown.
The lien merchant was discussed at
lengt h and the land owner, too, was
mentioned, though it was finally
agreed that the banker holds the
keys in his hands, hence the resolu-
tion to have the bankers meet in Co
lumbia and discuss plans for reduc-
ing acreage.
Governor Cooper made the opening