The herald and news. (Newberry S.C.) 1903-1937, January 23, 1920, Page SIX, Image 6
WHO IS GETTING THE BENEFIT
OF HIGH PRICES FOR COTTON?
(Manufacturers Record. Baltimore.
Md. >
Mr. Daniel Willard. president of
t>:e Baltimore & Ohio Railroad, apparently
has in his office some one
who is supposed to interpret and comment
upon editorials, we presume for
Mr. Willard's enlightenment, for we
have received from him or his office
two copies of a memorandum of this
kind in which Mr. M. B. Wild, in his
report to Mr. Willard, informs him
tfcat the Manufacturers Record seems
to be very well balanced on all things
except cotton. In the course of this
memorandum he says:
"The insinuation that the Federal
Keserve Board brought about the recent
virtual panic in New York, from
which few rich men suffered and few
professionals, is just the kind of
ammunition the Bolsheviks use in
their endeavor to overthrow social
order.*'
The trouble with Mr. Wild, and apparently
with Mr. Willard, since in
sending this to the Manufacturers
Record without comment he seems
virtually to have accepted that view,
is that they shut their eyes to facts.
No one has to be very familiar with
tl*e conditions in New York to know
that the stock market is the football
of many Wall Street gamblers who
use one thing and another to advance
or depress the price of stocks according
to whether they are buyers or
sellers of stocks. These speculators
4,;nilk the public" or "shear the
lambs," as you may care to put it.
Money is loaned freely until stocks
are boosted and the insiders sell out;
then some plan is devised to tighten
the money market or to advance call
loans, and the public rushes to sell.1
The speculators buy in at a low price
+ fVi?nr of o V?itrVi fiornw
liiC CIU\. I\C* OVIU v U Ui^ii
Then money again becomes easy,
stocks are boosted, the public rushes
to buy and the insiders unload. Soon :
the money market becomes tight,
stocks tumble and the public sells at
a low price to the insiders, and so
ad infinitum. We have never found
it wise to suppress information, and
Mr. Wild's suggestion that the publi- j
cation of such statements is Bolshe-'
vistic in its tendency is indicative of
the narrowness of his vision. In a fur-!
ther discussion of the views of the ,
Manufacturers Record he said:
"The views of this paper on cotton '
and cotton prices and the action of
the Federal Reserve Board in relation
to them would be much sounder
if it could show that the genuine cot*
1 1 ^
ton growers ootn neea ana are getting
prices for their product that are from
200 to 300 per cent higher than prewar
prices. The fact is. however,
that the genuine cotton grower is securing
but a small share of these
gigantic price increases and the recent
action of the Federal Reserve i
Board both as to cotton and all other
commodities had r.o other purpose
than to check the speculators who are
reaping the main benefit from the in- J
creased prices."
In this statement Mr. Wild displays
a depth of ignorance which cannot be
reached by any plumb line. We hope
Mr. Willard knows a little more. The
cotton growers are getting the present
high prices, and they do need
them. The bear speculators who have
gambled for years and leached the.
life-blood of the Southern growers
?au: Knnn innrVit i r> AUfn 1
nr. v ^ x*\~w uvii in utvu v ?' it trap,
and they are trying to move
Heaven?no. not Heaven, but earth 1
and hell?to wriggle out of the steel
trap which is finally closing around ;
them. They are in a vise, which '
daily closes in on thc-m, ar.d that vise .
is tho ornnnroir law of sunolv and '
demand which, despite the effort of 1
the cotton bears to b'.eak down, is fix- j
incr the price of cotton.
The cotton growers for 50 years!
virtually starved, especially the small!
growers and the tenant farmers, j
white and black. The average yield ,
of cotton on Southern farms was i
about six bales per farm. At 10!
cents a pound, this meant $300 a {
year as the gross income of a farmer
and his wife and children because he'
was only able to raise cotton at these !
prices by having his wife and chil-!
dren work in the cotton field. The j
wife should have been at home, the
children should have been in school.
The curse of illiteracy has been upon
the South because of the curse of j
cotton fastened upon this section by
the economic slavery which chained
it to low-priced cotton after the war.
With a grower's income of $300 a
year plus a small amount received
from seed, one-third to one-half of
*-LKo nniH -for rent
tfliS ulllUUia i iau VV WV
of the land, and out of the pittance
left these tenant farmers by the hundreds
of thousands had to support
their families. j
The "curse of God" might well rest
upon every man who, in view of
such a situation, has sought to hold
down the price of cotton for every
effort, made to keep down the price
of cotton has been an effort made to
keep the women and children in the
cotton fields, to develop illiteracy,
and to bring upon this section and
upon the nation all of the curses
which follow desperate enforced pov
crty, duo to the power of those who ]
controlled the situation as against
the helpfulness of the growers. i
: At the present time all of the inline
nee:*. which can possibly be
luuuu'ht to bear by the gamblers who
have finally been caught in the." own
trap are beinj;- put forth to seek to
break down the cotton prices of the
present that they may be saved from
tremendous losses, if not from com-/
plete bankruptcy. The financial destruction
of this bear element to the
!=??* flftllar nf its nower would be an
unmixed blessing to the world and to ^
the South.
We trust that Mr. Willard is wise '
enough and broad enough to recog- *
; nize that the people who for 50 years ^
have been held in economic slavery, ;
and who have seen their product made 1'
the basis of the enormous profits '
which the cotton manufacturers of j
the world have of recent years been.
reaping, will recognize that justice is '
on the side of the growers.
We published last week a dispatch
from London showing that even a ! ^
cotton manufacturer took the ground : 1
that the profits of English mills are '
entirely too great, even ''sinfully '
great," and certainly there is no in-ij
dication that the mills in this country..
have not been earning amazingly big,1
rVvnfitc far Vspvnnrl nrnfits which the *
growers have been able to secure for j 1
themselves. Here and there a large 1
landowner has always been able, ex- *
cept in a few years of extreme de- 1
pression, to make some profit out of;4
renting his land to tenants. Even "
at a low price for cotton, he could ;c
still get a fair return out of his in-;*
vestment in land, and occasionally j
some large planters have made good i
profits over a long period of years, j
but these are exceptional cases. They j *
do not represent the actual cotton- j J
growing interests as a whole. They i
do not represent the hundreds of
thousands of tenant and small far- J
mers who raise a very large proper- j
.... j
tior. of the cotton crop. .j
In closing his memorandum to Mr. j
WilJard, Mr. Wild said: j
"Does the Manufacturers Record I
wish to include and make a part of its I
moral code the old aphorism?consistency
is the virtue of fools."
We are lacking in that degree of j
intelligence which would permit us to j
understand the meaning of Mr. Wild's j
sentence or its relation to the work j
- w * ^ 3 "D?f !
Ot tne IVianuiaciurera xvctuiu. i?ui< i
since he seems to be informed as to j
the matter of fools, we suggest that:
for his own benefit, and as relating to j
himself, he turn to the 27th chapter j
and to the 22d verse of Proverbs,
which reads as follows:
"Though thou shouldest bray a fool j
in a mortar among wheat with a pestle,
yet will not his foolishness de- ^
part from him.' i
BOMB PLOT NIPPED j
IN BUD, IS BELIEF (
i I
Eighteen Extremists Rounded Up in
New York Raids?300 Arrested <
In Seattle. j
; if
New York, Jan. 20.?A plot for
" l__. 4.1. ? ,i;?
wholesale assassinations vy uic u:o- j
tvibution of bombs next May day or ^
Fourth of July is believed by the j
police to have been frustrated by the
arrest in two raids yesterday of ^
eighteen extremists, said to be members
of the Union of Russian Work- li
ers. The polite think the bombs were fc
to have been sent by express or hur- ?
cl
led by fanatics.
This information was forthcoming.
today following preliminary investi-.a
gation of papers seized in the raids.: v
Material for use in rlie manufacture 0
of bombs, including those of the pipe
i
variety, was found. \
Russian Workers Exists.
The Union of Russian Workers still i v
ovists ile?nite the deportation of
Peter Bianki, its head here for years, 1j
and continues its conferences, it was p
stated, but since federal and police ?
raids began each meeting has been Js
held at a different apartment or j
private home. j P
Fifty-two more alleged reds taken I:
in raids here and in Passaic and it:
Trenton, N. J., were released from ; c
Ellis Island today on bail. According v
to Miss Rose Weiss, an attorney for P
thirty-seven of the prisoners, a bail t
fund of S1.")0,000 in liberty bonds is j I
now available and from now on about c
thirty a day will be released.
; r
316 Radicals Arrested. -a
Seattle, Jan. 20.?Federal officials !
announced tonight that twenty-seven j 1
alleged radicals, arrested last night, c
are to be held for deportation. t
Three hundred and sixteen were j ?
arrested in the raids which were di-! v
rected against members of the Union |
of Russian Workers. The majority j I
were releasel after examination by s
Department of Justice agents. j;
,
The minister of public works has '
' i--*" ?v no?;a^lt
introduced a um uauic vuc .
national legislature providing for i *
the erection of a powerful wireless !'
station by the Danish government, j*'
It is planned to build a station of j ^
sufficient size to send wireless mes-jJ
sages directly to the United States.{J
Subscribe to The Herald and Xews.l
?2.00 a year. j'
DID SO MUCH TO AID
HER BOYS AND GIRLS
Mrs. Cathey Tells of Results Tanlac
Gave.
"IT SURE IS FINE."
\nderson Woman Says She is Glad to
Recommend it Publicly.
"I am glad to recommend Tanlac to
the public, for it has done so much
civ. > hrck hp;ilth to mv bovs and
rirls and other relatives. It sure is
a fine medicine," declared Mrs. Jose-;
phine Cathey, of No 12. II Street,,
Anderson, in a statement she gave :
May 25, 1917. Her husband, a
daughter, a son and daughter-in-law,,
Mrs. Cathey said, had all been great-:
ly helped by Tanlac.
"My husband suffered from indi
?estion and he was troubled a lot
I
vith headaches, and also his appe*:
tite was bad. He complained freluently
of being weak and run down, j
My daughter, Mattie, had about the '
same trouble her father did?indi- i
restion, nervousness and terrible j
leadaches. Mr. Cathey thinks Tanlac i
s a miehty fine medicine, for it help- j
?d him so much. Now he never com-!
;
plains of his troubles for which he;
;ook Tanlac, and Tanlac got him in j
ine shape. The Tanlac just made a |
lew person of my daughter Mattie,!
md soon had her in fine health. It i
>ure is one more good remedy. One j
)f my married boys and his wife also I
ook Teniae and it helped them a lot." j
Gilder & Weeks, Newberry, S. C., j
H>?.yvc-r\rtvi + T' T ">r-n rr C n TVnSnPvif V 1 .it- j
w? ^ ,
le Mountain Drug Co.. Little Moun-1
;ain, S. C., \V. 0. Hclloway, Chap- j
?ells, S. C., Whitmire Pharmacy, |
iYhitmire, S. C.
W/ITCH "
S| And other i?
hVM bowel disor^
ders ? Diarrhoea,
* Cholera Morbus, etc. S
K Be prepared to check and
K relieve such troubles by
B keeping in the family S
K medicine chest a bottle of
C Dr. Thacher'* S
ST IV a rrli/\?a MivHiwa
In use for half a century,
UE At all drug stores; 35c. S
E Money Back if no benefit. |H
ffi Thacher Medicine Co.
BP Chattanooga, Tenn., U. S. A.
ffi mhiMf terfji i,j (ill iVi| W|Ajt
V1LL ALWAYS FEEL GRATEFUL
FOR FERROLAX j
Charleston Man Takes Ferrolax And |
Now Enjoys Fine Health.
''I have tried for a lo:i? time to j
ind a medicine that would give me ^
ome relief, but my troubles were
lever overcome until I commenced
akin<c Ferrolax," said Robert Tom-j
inson, who lives at 15 Newnan street,;
Charleston, S. C., the other day.
"When I began taking: Ferrolax,"
le continued, "my entire system was ;
>arily run down. I was very nervous ;
r.d rarely ever .cot a good night's :
leep. My appetite was very poor ;
ml what little I ate didn't agree
nth me. I just teit t-ireu ana worn
ut all the time, although 1 was tak- i
:i*JT different kinds of medicine all the '
i
ime, my condition gradually grew 2
;orse from dav to da v. -x
t
"I had heard so much about Ferro- (
w and the good it was doing other i
eople and decided to jret a bottle and
ee what it would do for me. Well, ^
ir, I Commenced to feel better in v
list a few days, and I have been im- 1
roving ever since. In fact, Ferro- "
ix has completely overcome , my
roubles and I feel like a "fighting!
ock" all the time. All that tired, 1
*orn out feeling is a thinjr of the; !
ast. That nervousness has left me, q
oo, and when I hit the bed at night v
just stretch out and sleep like a *
V>iM sill rnrrht lonn*
"Yes, sir, Ferrolax is a great.
nedicine and I will praise it as long |
s I live for what it has done for me." I
Get a bottle of Ferrolax today,
."ake the whole bottle according to j -j
lirections and if it does not do you
he good you want done come in and
^et your money back. Your bare j
vord is good enough for us.
FprroLiv is sold in Newberrv. bv I
\ E. Way, in Prosperity, by Simp- j
on Drug Co.
NOTICE OF FINAL SETTLEMENT. | I
will make a final settlement of i j
h<? estate of Horace Ruff in the Pro- j (
)aW- Court for Newberry County, S. !2.,
on Thursday the 29th day of j
fanuary, 1920, at 10 o'clock in the j
forenoon and will immediately there- j *
ifter ask for my discharge as Admin-j2
strator of said estate. |
JIM RUFF, j1
Administrator. !
dewberry. S. C., Dec. 27th, 1910. ;
INI
JLA \
We have low fo]
grade cars we nave <
exceptionally fine c(
ical condition, tires
advancing price of c
now. At the price w
Our price is on the b
will be much higher,
for a year. Come in
Drip Stairlphn.kpr
Perfect condition. ,
One Studebaker
unusually good valu
every way.
?/ %/
n no Q+nrlIrov
VilV utuuv/^uiwi
car looks and runs lil
One Studebaker
condition and a barf
One Studebaker
New tires, new batte
One Dodge Toui
Battery. Perfect co
One Chalmers Si
tion. A bargain at 1
One Maxwell To
TIM
A A II
men
Phone 300.
I
Keep Ycur Liver Active, Your!
System Puriiied and Free From
Colds by Taking Calotabs,
the Nausealess Calomel
Tablets, that are Delightful,
Safe and 1
Sure.
t?i? : ~Jii-v.f.fii'ii urr> nelvis;- I
iij4T their iricuiis to kerp tholr systouv j
aiu! tJu-ir in peifje. j
voi'uiniX i?r:l''r ;is a 3'r? It-t-1 inn against ;
lie return of mfl.senra. They kno;/|
h.vr a. < '^;r :ol ::4> ?;--<to:n an-i a lazy !
iver favor roi.ls. influenza and serious!
ompllr::! irns.
T<> i-iit sli<?it a colli overnight and to I
i't". <'ii t serious e<;'nplii-atious take one!
'aiot:;l) ;it bedtime with a swallow ol j
viitor? that"s Jill. At. salts, na nans.?:'. ;
10 ^ri|'iii no sickening .after efforts. !
\*oxt morning your tout vanished. J
\mr li\?t is active, vour system io punifrt
fiii.'} reireshod ami you are feelimr
i'jo villi a hearty appetile for break'.is:
t-Jr;t what you please?no flanker.
Caiotabs are sold only in original
ealed packages, price thirty-five cents.
Iverv dni^ist is authorized to refund
ovr money if you are no* perfectly
k?!i*rhte'.l with Caiotabs.?(Adv.)
Rheumatism
* i i ... r .1 k.
^ eomp;o;c;v warned nm ui im: mmhh ??
he relrl?rat???l ^liivur Mineral W a!r*:\ !'?><
lively jruarantced by inom?y-hack <>lT?.r
'a*;es fine: co?ts a trifle. Delivered anyilirre
liv our Nev.lt mtv A gen is. J. W
viiiler Co. Phone t!>- r:.
SEED OATS
FOR SALE
"he Hammond Oats. Best early oat*
r\r% f ka m
$1.75 per bushel.
H. O. Long,
Silverstreet, S. C.
666 has proven it will cure Ma- I
aria, Chills and Fever, Bilious Fever
Zolds and LaGrippe. l-13-10t ;
Pulaski Lodge No. 20, I. O. O. F. !
Meett every Friday at 7:30 at
Clettner's Hall. Members urged to
ittend. Visiting brethren welcome. ;
C. W. Douglas, !
B. Chandler, Noble Grand.
Secretary.
i
JSED C-A
i* sale the best collection of
5ver been able to offer. T1
)ndition in every way?api
and batteries. In view of
:ars it will pay you to selee
e can offer these cars we cs
asis of last summer's level.
You can save enough noA
and select yours before th<
Series 19 Light Six, 4 Pa:
A. bargain.
Six Series 18, 5 Passenger
e. New tires, new battery.
Six Series 18.7 Passenger
ce new.
Six Series 18. 7 Passeneer
" ' " 7 ~ ~
ain at the price.
Series Six 18, 7 Passeng
ry. Splendid value.
ing Car. New tires, new
ndition.
x Touring Car. All new ti
the price.
uring Car. Fine condition
E PAYMENTS ARRANG1
ardy Mo
M tfi nlf
$tu02SP'
Distributor.
I BRAND
Touring Car. Exact
buy from Oidsmobile d
this car at a consideral
pay more when we can
McHardy
Distribi
Phone 300
naBpaHBWMW???WP?
No matter her*
i 1
| nave xjeeu a c
J er, you will fir
change t
The flavor is
The onlydiffe
certainty that
, after effects c
'follow.
Sold by Grocer*
( Made J
rostum Cereal Co. Bat
' slightly used high
lese cars are all in
oearance, mechan- A
the high and still 4
t one that suits you '
tn save you money.
By spring values J
v to run your car jJ
iy are all gone.
ssenger Roadster.
Touring Car. An
In fine condition *
Touring Car. This
Touring Car. Fine J
er Touring Car.
r Willard Rubber ^
res, perfect condi.
Good value.
ED
?wer
t
3
\j4
Lower Main St.
i NEW |
;ly same as you can V
ealer. We can sell l
Die ^discount. Why . J
save you money? '
Mower
$0 ^
W.J
!tor
Lower Main St. j?
i
=1'
v loif^ you I *4
offee drink- I
id it easy to I
o I
TOM '
similar. ( &
rence is the
no harmful
an possibly ^
; everywhere
by
tie Creek, Michigan.