The herald and news. (Newberry S.C.) 1903-1937, September 01, 1914, Page THREE, Image 3
TO HOLD PRODUCT
Cotton Congress Committee Approve*
McAdoo's Flan to Save the
Situation.
Washington, Aug. 2S.?;$ecretar\
?McAdoo's plan to accept as a bash
for currency notes secureu oy warehouse
receipts for coton, tobacco anc
naval stores at 75 per cent, of theii
cace value was approved tonight in c
report by the special committee ap
pointed by the conference of representative
planters, bankers, manufactur
ers and dealers helcl here Augus:
24 and 25.
The committee recommended tha
every effort be made to assist pro
ducers in holding their cotton for c
price that will minimize their losses
until the channels of foreign trad<
are reopened. Eight ceius a. pounc
was sugested as a fair basis for loan:
on cotton.
Tc.e report which was submittec
/to Secretary McAdoo, follows:
Approves of Plan,
i "1. Taat the committee entirely ap
prove or ana congraiuia.it; vuu uu iu<
, announcement made by you yester
day afternoon that notes secured b:
warehouse receipts for coton and to
bacco and naval stores, and having no
more than four months to run, wil
be accepted as a basis for the issu<
of currency to the members o: th<
national currency associations at 7;
per cent, of the.face value of saic
* .notes.
"2. That it is the sense of the committee
that cotton, tobacco and nava
stores should be marketed as deiiber
ately as possible until they can agair
be exported in normal quantity anc
that when properly conditioned shoulc
rhe warehoused with responsible con
cerns, that they should be protectee
against weather damage and properl]
insured against loss or damage b}
fire.
;'3. That warehouse receipts foi
those commodities are proper collat
eral for loans by banks, and shoulc
be accepted with such limitation an
to margin, inspection and valuation a:
conservative bankers may each ir
their discretion see fit to impose.
Will Last for Years.
4. That the average market valu<
of middling cotton ?.or the past si>
years has been in excess of 12 centi
per pound, that the committee is informed
that the cost of producing
cotton averages throughout the Unitec
States about 9 1-2 cents a pound, tha
it is a rule of economy that the proAuction
of staple commodities will de
^ crease i-f they continue unsaiaoie a
r less than the cost of production plus
a reasonable profit. That cotton does
not deteriorate when properly ware
housed, and is as good 20 years aftei
it is picked as when it is first gathered;
that it can therefore be carriec
over- until the restoration of norma
"business conditions enables the world's
^ con sumption to absorb it. The com
t mittee is therefore of the opinion thai
every effort should be made to assisl
i the producers to hold their cotton foi
} a price that will minimize their loss
as far as possible until such time as
the channels of .foreign trade shall be
reopened. That loans upon cottor
made upon a basis of 8 cent pel
pound for middling less such margir
as the lender shall consider necessary
will afford reasonable protection tc
bankers and will greatly facilitate tin
^ 1 financing of our most important ex
port crop in the present emergency.
| The Eiirlit-cent Basis.
"5. That in suggesting S cents
per pound for middling cotton as a
basis for loans, it is not the purpose
o: the committee to convey the idea
that that figure represents in theii
opinion the intrinsic value of cotton
but fcfcat it is sufficient in their judgW
ment to meet the requirements of tlisituation
and enable the farmer lc
W market his cotton in an orderly an"1
rtpliKprpfp mannpr
"6. That in case of tobacco and
naval stores the committee is informed
that when these commodities are
properly conditioned, stored and insured,
they are practically non-perish>
able, and that the committee there|f
fore recommends that warehouse receipts
for tobacco and naval stores bt
accepted as security for loans cn s
basis that ?as due reference to tv.e:i
market value le3s such allowance
the lenders shall consider reasonabl
in view of the present suspension oi
the export demand.
d Would Accept Notes.
"7. Your committee recommends
that notes having not longer than foui
months to run. when secured by prop
er warehouse receipts for the afore
Way said commodities, properly insured
'' be accepted for rediscount by the federal
reserve banks when organized
and that they also be approved b}
the national currency associations as
security for additional circulation tc
the national banks under the provi
sions of the Aldrich-Vreeland act. a:
amended by the federal reserve act.
"8. That a subcommittee bo ap
Pointed by you "or t'le puropse of con
i'errlng with the 'rade and the bank
ing interests with a view or' carryin
< into effect the recommendatons here
in made."
The report was signed by a ma
i jorit> of the committee, includin:
T-? 1 ? T7I O T> Mrtnrro ,1 I Q,,-!
' j n.U> <11 .-v. r CM IS, O. A. .uuisau, ?? i
J ! V*. Parker. R. G. Rhett, D. V. Cooper
-; H. Walters, Richard H. Edmunds, \Y
1 ; B. Thompson. J. 0. Thompson, W'l
* i liam Elliott, F. G. Ewirg, D. L. Mai
1 lory, G. Gunby .Jordan and Theodor
I H. Price.
0
' FEEDING SOLDIERS' CHILDREN
t
Soui) is Served in Brussels PuMi
11 Schools Every Day.
, i
1 j Marie Harrison, correspondent of th
5 ! London Daily Chronicle, in a Brus
- i se's cable to New York Times.
* j Mme. Vandervelde, the English
? I
5 J wife of the Belgian Socialist Minstei
I is taking an active part in the organi
i 1
x | zation of relief schemes, and I accom
i panied her on several visits. We wen
first to the military hospital, wher
" we left two bulky parcels containin;
- 17 kalos of cigars for the sick am
wounded. Then we went to a depo
: : from \v;n>h snnn is sent out to al
"! the schools in the citl. About 6,00
j children are now fed daily. Ver
* i soon the number will be 10,000.
a ;
j jPiie soup is a meal in itself, for i
* j is made of fresh vegetables and meai
' 1 In the courtvard I saw great piles o
I
\ vegetables that had been given b
i poor salesmen for their still poore
"'friends. Mme. Vandervelde explaine
L | that the soup was provided by a com
" | mittee of ladies, but that a tremen
1 dous quantity of fresh vegetables ar
j}
rived every morning from these gen
^ s prmis-hpartpd traripsmpn and thp \vn
~ j men were very glad to undertake th
! work of distribution.
An official pointed out with prid
;the system of organization. From th
| mighty caldrons the soup is poure
into big vessels and quickly sent ou
" 1 to the various schools organized r'ror
i '
1 i one centre. The cost of the relie
51 work is thus consierably lessened
51 Later we saw some hundreds of hun
1 gry children in the poorest quarter o
! Brussels eagerly devoring the soui
!
I Each soldier's wife receives onlv 7 1J
3 pence (15 cents) a day, and 5 penc
: (10 cents) ifor every child, so tb
; need of help is great. Mme. Vander
. i velde and I also visited one of t'a
r | many schools that have been turner
i i into provision depots. The govern
11 ment has bought enormous quantitie
. j of provisions and the Rue de Vaudur
. | school alone contained 2.000 sacks o
t flour as well as piles of cheese, maca
51 roni, sugar and so on. Here the peo
3 ' pie may come and buy at ordinar
. prices.
r When the distress is acute the foo
. i will be distributed 'free. Mme. Van
i j dervelde accompanied her husband o:
i ' a. daring innrnpv trtward thp fmntipi
3 She said: "It took with me some 'hun
. dreds of red silk handkerchiefs fo
I our Belgian soldiers, who have noth
I ing to protect the backs of tfteir neck
from the sun. They were touchingl;
grateful. We were, of course, fur
nished with all kinds of passports
, but our car was stopped again an
i ! again and our credentials examine'
- with minute care. Coming back
i j when about 25 miles from Brusse.s
? i we were fired on. We were unin
> jured, ihowever, and not even our ca
11 was damaged. I did not feel at al
. j afraid, and our driver hept his heai
j and hurried on. The shots came fron
| a wood, and it was a narrow escape.
"Our sentries," added Mme. Van
> j
L; dervelde, with a laugh, "are wonder
s! fully zealous, but I am going agaii
i .
L tomorrow.
An Impossible Task.
Baltimore American.
First Student (in a burst of ad
miration)?'Prof. Gabby is a wonde
, as a linguist. What tongue hasn'
rae mastered?
i Associate Professor (dryly)?Hi
wife's.
i
*
; I ^
\ y A
I !ELI.bytheI(1,!
I % VA
% On the front of every carton and on the
^ label of every bottle of the GENUINE ||
I n DR. BELL'S 1/ H
; riNE-TAR-HONEI
; | you trill find the BELL In a circle, pj
^ Granny Metcalfe, the sage of We?tem Ki
> % Kentucky, says?"Startin* right and stay in' y&
j fy right beats gettlit' right." So, with these Kfl
- K! precautions, you *now what to buy, andean
5| I "TeM 3y The Bell"
X/A OK ? icn. *1 nn tr nonr crrtorc
Zr
: UAMMIM
iTinnnui'
THFU
c
mf I
nnv True i
l\ _
y I ?
I
J
Khali
j 1. A Clean Bu
0 i
51 2. A State Gove
t| 3. Efficiency in I
; 4. Co-operatior
- Officials.
0
!j 5. A Progressi
. nil
;j tioii tmbod]
* ures.
: 6. Enforcement
y!
J Carolina.
?! 7. A Judicious
rl Power.
s
l! nRMOTRATS
J/U&IAV VA&A A A M
I SOUTH CAR!
It is your duty to go 1
. i 8th and vote-in the sec
LI
partial victory has bee
governor is the people's
time; he can be reache
the governor, but the
State. Mr. Manning w
s people go to the polls ai
There will be many el<
i
and from past experien
should know that these
believed- Make up you
government
nri ? 1 c, ,
l here win oe attempt
people cannot be fooled
j FOR LAW AND ORD
| MENT UNTIL THE LA
The farmers of the St
i
Manning, a farmer him
of farm conditions and \
tering rural conditions.
in the fight fco relieve th
already done much to h
.? .
other times.
I
(Political
/
lilS
U 1U
no nc
un ur
Is Elected
Have:
siness Administration,
irnment for all the people
the Executive Department
i Among the State
ve Program of Legislating
Constructive Meas
t of the Lawc in South
Use of the Pardoning
.
OF
)LIN A:
to the polls on September the
ond primary. So far only a
in gained. The election of a
fight; he is in the state all the
id by the humblest man; he is
servant of every man in the
ill be elected governor if the
id vote on September 8.
1 1 1_ J
svenin nour raisenouus ?prcau
ice the voters of this State
below-the-belt ought not be
ir minds now to vote for good
s to cloud the issue but the
. DON'T STOP WORKING
ER AND GOOD GOVERNST
VOTE IS COUNTED.
ate are going to stand to Mr.
self, who knows the A. B. C.
vho has been foremost in betHe
is woiking now to help
- - ii i
te cotton situation ana ne nas
elp the planters of his State at
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If you haven't
"Aiif* cnKcrnn
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had better do
i Watch the
i
i
your paper a
' C J
miss any or i
paign "dope."
The Herald ai
I "Newberry's Real N
Teacher Wanted. first g
For Broad River school district- No reccm
24. One that can teach the usual B. }
branches in rural schools. Must have j Se
>ol
hocl is only 14
the books in. i
:he last day to m
for cash strict- *
ated alike. So
:> have hooks
i
SAME MONEY
nd r< a
ty oiore
usand Things
COLLEGE
IEN
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Carolina
LEGE FOR WOMEN
A B. and A. M. Diind
Art. Courses in
Campus of 23 acres.
*
rts. On outskirts of
; . '
:ity. Ideal winter clisight
of Blue Ridge
I '
ition, address
President
? !?in ? ii ii???
___________ I
V
!WS
mens
renewed
tion you
wnw
11 iiv TT
label on
nd don't
the cam
id News
ewspaper"
? mi n IT1 r. ^
rade teacher certificate and "Xeli
mended; seren months school.
I. Suber, J. L. Crooks,
>cretarv Chairman of Board,