Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1921-06-10
no HELP COTTON GROWERS
Wannamaker Tells@ofi' Outcome 4 !: Of
Meeting in:NeK York.. !. z.
HOPE OF Two, WELL DEFINED ideas

Would Help Some, and, hen Cotton
Money in the Treasury that Really
Belongs to the South Gould. be: Made
to Help Some More. =.
Columbia State, Tuesday. t.;E-:;
J. Skottowe Wannamaker, president
of the. American Cotton. association,
on his return yesterday from New
York, where he: attended the confer
ence of the various lines of cotton IN
dustry, gave out, a statement saying
that he had requested congress 70 nsh
funds now on deposit in the United
States treasury which accumulated
through the. sale of, cotton seized by
the government during the Confeder-
ate war on a tax afterwards declared
Unconstitutional: be- utilized as4afe
volving fund for the, purchase of cot
ton until the markets can= be-: opened
for the same. He also said tha tTthe
request of the conference for q: IS. per
cent discount on commercial and &ag-
ricultural paper and renewals OF loans
on agricultural products had also been
laid before the government. Mr..
Wannauraker's statement follows:
I'm compliance with the resolution
unanimously passed by the conference
in New. York, asking the federal re-
serve banking system to grant more
liberal extensions. of credits and re-
discount rate of not exceeding 5-per
cent, on commercial y q s,:Fl, and agricultural
paper, and renewals Of loans on agTi-
cultural products including cotton
until the export markets can be open
ed up for same, this request has, been
laid before the president, the national
official and congress;
Wants Revc:1ing Fund. =.
In addition tn this + have laid be-
fore the national officials and our law
making body, a request that the: 1tnns
now on deposit with the United Sta4
treasurer, which accumulated: through
the sale of cotton seized by the Upftaee
States government from planters and
from business men in the:'isopth DIFF isI.
ing the War Between the Sections "
a tax afterward declared uncpnat1tt-
tional. be utilized as a revolving :frha
for the purchase -of cotton:zuptalf sts
markets can be opened for same:
1T was also urged the that. : The l@i
property fund on -deppstt ls3stsh sfste fe
treasury department seized during .tAe
world war be loaned to-: be .usedi$ i$T
the purchase Of cotton in :connecton
with the fund from cotton !seized: .dgTs
ing the War Between the Secttonss-3t
has been. pointed ont that: unless $ysss
lief is speedily extended the loss?otiif#o
billions of dollars to. the cottonspr0-
ducers of: the so11fh, which Isl '.a4ret
loss based upon the actual. cost Of the
1920 cotton crop, will seriously AFFECT
not only the agricultural and entire
business life of the south but sthesaAs
nancial and business life of the entire
nation: ,,....,..s.r. -
"The English government, N adalE
ton to guaranteeing rs per Gent. t lot
the loss on exports since 1s14,f has
been using all means, for encouraging
exports, opening up foreign markets.
and building up foreign trade, and mas
been purchasing Egyptian cotton di-
rect, which action has resulted In
bringing great Relief to the Egyptian
cotton-grower, the English govern
nent having announced the policy OF
continuing to make these purchases
until COTTON; reaches, the price OF the
cost of production In addition to
this, the English government. is grant
ing loans of SO per cent. of the value
of the cotton and is. extending liberal
loans to Egyptian cotton growers.
"The use of the funds which accu-.
mulated from the sale of the cotton
seized during the War Between the
Sections for the purpose Of bringing
relief to the cotton producers OF the
south, under the, present distressing
financial conditions, would bring d.
rect relief. to the people Of the south
and direct benefits to the entire ma
ton, and could not be used for a bet
ter purpose than to. relieve the very
people to whom the money rightfully
belongs.
Every vestige Of sectionalism
should be removed following the
World war, and the use Of these funds,
for this purpose, will have a whole
some effect and would be a; step an
this direction. It is the key Of the
situation. Cotton to far greater val
ue than the amount of the funds On
hand, could be purchased as additional
moneys could be borrowed on the cot
ton so purchased, and this additional n!l F.
money could be likewise invested IN
cotton. ''r, - -.
Expects Small Crop. =. A.
1--WE are facing absolute cer-
tainty of a minimum cotton crop for
1921, regardless Of seasons on account
Ct the enormous reduction in cotton
acreage and. Rinathe use of commercial
fertilizers. =.
"In addition to- this, the census
which is now being taken Of the So
called 'caryovers,': which census will
show the number Of bales and the