Historical Newspapers of South Carolina

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20t The su A leaf d< The backing $3( The leading bu tion and o erin You: Join with thes with leaders chi problem of ma. HE DO~ Tobacco a WEEKLY NEWS NOTES FROM WASHINGTON (Special News Correspondent) Washington, D. C., July 11.-TI Congress which in March was talkir. of adjourning in May, in July is talE. ing of the possibility of adjourning August, while the country sweats u! der the uncertainty of how great w! be the burden of new taxation pil. up by the Fordney bill when it final' becomes a law. The best statisticiav who have brought their pencils bear on the problems are of the opio ion that for every dollar taken fro. the purse of the average citizen und; the present (Underwood) tariff la. the new bill wil take something li $13.40, as compared with about $3.' under the Payne-Aldrich. Democr.. cried out against the exactions of t' last named law and repealed it wi the Underwood law, which was hip, ly satisfactory to all except thc - Republican New England and Pitis burgh tariff' barons who grow ri. out of such legislation. With the Republicans thcwlE' tariff scheme is a vicious circle, av once having adopted the system th. seem unable to escape from it. He, is the way it has worked: the tar: barons put up the campaign fun which enable the party to wvin are proceed, like Shylock, to c'ollect the pound of flesh; their dlemandl tak the form of higher tariff legislatic after a prolonged struggle in Cc gross they get it, 'yhereupon the pi ple throw the Republican party out power. Following the enactment.. the McKinley bill they were clean.s out, boots and breeches; followi. the Dingley bill, it took the Spania War to save the House to the Repu licans, and that only saved it by narrow squeeze; after the Payne- A. dIch bil Ithey were again kicked ou whereupon the Democrats enacted ti Underwood revenue-tariff bill-a bit: designed to produce the greateji amount of revenue for the Treasury with the least burdlen on the publi. The Democrats remained in power fo years after its enactment andl lost control only through the great waye of 'poditical hysteria which followe., the war. The passing of that wavy has been more in evidence of recen. months, and a return to normal think Ing threatens to sweep the Republi cans out of the House In the coming November election. Almost every (lay comes the news of some Republi. can member who "finds that his busi.' ness engagements make it impossible for him to again be a candidate for Congress." Among the latest are Fordney and Winslow, both rich manufacturers who are seeing enacted into law those tariff provisions which will still further enrich them. They seem to he among those wise ones 'who quit while riuitting is good. I aeexpi'essed the belief that Oscar Underwood of Alabama ig th' 75,000 fellow t< way rehouses of the A port of cooperative I paritment headed by of the leading city anc ),00000 from the V siness4, men each day 1 g their endorsement < r Time T cornined forces, witi ben by these tobacco k ti g. WHO HESI NOT WAI SIGN r)Wers Coc hority in the country on the 'isten to what he says in the rk Times about the iron and tedule of the new tariff bill: 'nider the paragraphs in the I i., bil Ithat. relate to iron and cet plates. They constitute c material out of which plows e, the basic material in the I:: :ture of wagons, the basic ma .at of which ships are con l,.: " , the basic material out of u re built freight cars for carry itbr No. 11155 REPORT OF CON First Nati< AT MANNING, IN THE STA At The Close of Busir RESOU oans and discounts including ounts, acceptances of other 1 :nd foreign bills of exchange or old with indorsement of this exceptL those shown in b an Total loans_ _.._ ...__ *erdlrafts, secured, $120.31; unse S. Government securities owne eposited to secure circulation ( onds(1 par value) ....._. .. 11 other United States Gover, ecurities (including premiums, Total. t'er bonds, stocks, securities, e * nking House, $5,614.65; Furn 4,035.90- . al* estate ownedI other than ba wfual reserve with Fedieral Rese sh in vault and amount dlue froi rount due fromu State banks, haa anies in the Unaitedl States (ot ems 8, 9, andl 10)... changes for clearing~ house _ otal of Items 9, 10, II, 12, and lemption fund wvitht U. S. Tfrel . S. Treasurer ... Total. LIABI L ital stock p~aidl in prrlus fund--- ----- n ividedl profits $4,864.77 ulating notes outstanding .. Ac unt due to Federal Reserve Ba uint due to national banks . erschecks outstandling... Ital of Items 21, 22, 23, 24, a nanddepoita(other than bank aserv (deosits payable withia ;idual deposits subject to che ud of demand deposits (other ~.nk dleposits) subject to Re 1 ms 26, 27, 28, 29, 30, and 31. o deposits subject to Rleserve (r Ssubject to 30 (lays or more n<( * ''ficates of deposits (other tha 11of time deposits subject t~ 'e, Items 32, 33, 34, andl 35. Iaf- payaible (including all obli ry borrowed other than redlisc -a and bills rediscounted, incli rbanks and foreign bills of a ith indlorsement of this bank Total._.. ....... .. F SOUTH CAROLINA, Cou T.Stukes, Cashier of the abov * statement is true to the best ribed and sworn to before ma * Attest: DAVIS, L. H. HIARVIN, C. BRADHAM, Director. TH_ )bacco growers ssociation in three sta aws, both state and n; the ablest leaders of ti I country banks in the /ar 'Finance Corporati )ecoming members of f its program and pla )SignlIsi i your fellow tobacc< growers for the so] ATES IS LO T AND LOS JOW ! perative A s ing the commodities of the country to market, the basic material for al most everything found in the black smith shop and so on. On these corn modities the schedule is built. And under this bill the rates on iron and steel plates have been largely increas ed. In 1920 we produced in the Unit cd States plates and sheets totalling 9,337,680 gross tons. We imported twenty-nine gross tons and exported and sold in the markets of the world more than 1,000,000 gross tons. These Reserve District No. 5 DITION OF THE nal Bank TE OF SOUTH CAROLINA, ess on June 30, 1922. RCES. redis )anks, lrafts. bank c)--$ 331,943.71 -~ 331,943.71 mredC~, $24.46.-.---145.27 d: U.S. ------$ 25,000.00 f any 10,846.(00 -----35,846.00 -- 4,125.00 tueandI fixtures, -.--- ---- ----- --- ,650.55 iking house 25,000.00 rve Bank ------ 4,623.46 n national banks--. 33,449.02 ikers, andl trust comi her than includedl in -- -------- 1,112.88 13-- -- --- -$37,499.69 2977 surer andl due from - - - -- -1,250.00 - - - -- -$4150,083.68 T IES. - - 50,000.00 *------------- ---- 5000.00 ------ --- -4,864.77 - -- ---- ---- -- -25,000.00 nk (deferred credits) 2,948.52 -- - ---- - -6,480.74 852.00422.83 deposits) subject to 30 (lays): thn ;erve, --$187,671.97 ayable after 30 (lays, tice, andl postal say ifor money borrow - Re -- ---- --- ---28,240.66 --------.--$28,240.66 cations representing ounts) - - ------ 50 00 iding acceptances of 2,0.0 exchange or dlrafts ---- ---- ------- 104,454.19 -------------------- $450,083.68 i-dy of Clarendon, ss: s-nmedl bank, (10 solemnly swear that of my knowledge alnd belief. J1. T. STUKEJS, Cashier. this 5th day of July, 1922. R. C. WNLLSANarynunni. rtes ttional he trade tobacco belt on the Associa n Vow > growers, and ution of your ST iE sociation statistics tell the story. Comments is unnecessary. "I have had to fight this iron and steel question out a good many times. The truth about the matter is this: For many years in the other House of Congress I represented a great iron and steel district. I am in the business myself. I would not willing ly harm a people that I represented, but neither would I willingly betray a people I represented by taxing them unjustly for special interests. I know this iron and steel schedule, and I know that it is a fraud and shame up on the" people of this country. I know that it is not even in the inter est of the industry in the end, and that it is very much better for this great industry to take the shackles of a tariff off its limbs. It can com pete anywhere in the world. Let it sell to the mills at home, to the blacksmith, the automobile and the wagon maker, the roof maker, at rea sonable profits and develop a home market for its products. It can staLnd a giant in the world of industry. There is no excuse for its heinig wet-nursed in a baby's erib wvhen it is a full growvn indlustry. "These wvool and steel schedule are illustrative of the policy followed throughout in the drafting of this bill. I might cite schedule after sehe dlule in proof of this, for instance the duties proposed on glass, on cotton good(s, silks, chemicals andl so on in definitely. But that would require too much space. T1he man or wonman wvho red the bill have no diffieulty in un dlerstandling wvhat its enactment will mean." Representative Harry B. llawes of AMissouri made~ one of the ablest sp~eeches yet dlelivered on the tariff; ho took as his particular text the tar iff on hides and showed that while it wvould put sixteen millions r( venue in the Treasury, it wvould cost the people, in the additional charged for articles made of leather, many hundreds of mililons. Hie estimated that on shoes alone it would add an average of forty cents to each of 330,000,000 p~airs of $132,000,000. The shoe tax on the p~eople of his State alone wvould amount to more than four mililons Per. year. On the other hand, Mr. Hlawes showed that the tariff on hides will bring next to nothing to (he pocket of the farmer wvho produces the hides, market and the tanning business. T1hen he quotedl the American Farm Bureau Federation, as follows: "Cattle hides are a by-product of the production of animals for meat or daniry purposes in the United States, Animals are not produced (or their hides alone, and the variation in the price of the hide has little influence on the rate of cattle production. "Most of the hides produced in the United States are sold by the produ ced in the United States are sold1 by the producer on the animal, and not as bides but as a part of an animal, the price being largely determined by the value of the ment on ite anma. How the B the Ft You, the Farmer, are ducer of wealth. But b money for your crops mai The crops must be sown, reaped and SOLD! The Bank is your 1. carry you over the week planting and profiting se; purchase seed, fertilizer, In times of stress it helps you weather the stc Are YOU getting a] bank offers farmers? Learn how we can I information from our pleased to tell you more a Home Bank CHARLTON : T. M. WELLS, The hides taken off by packers com prise, roughly, two thirds of the do mestic supply, and hides sold by cattle producers amount to a very small part of the total. "Since two thirds of the domestic hides are taken off by packers, and they also control about one third of the tanning business, they are in a position to be a dominant factor in the hide and leather market. At any given time they have a large part of the stock of hides under their control and are in a position to seel or with hold them from the markets as they choose. "Cattle production needs stimula tion, but the increased return from 15 per cent on 6 1-2 per cent of the weight of the animal is so small as to be of no importance as a means of increasing cattle production. "Therefore, we believe that hides, leather and leather products should remain on the free list." And the whole story of the tariff, wvhen divided into its comnponent parts, makes on chapter after another of special favors to those wvho need them least and special hburdens on those alIreadly over-buirde ned with a1i multiplicity of taxes. Mr. Moore of Virginia, a new Alem. her wvho has repeatedly won his spurs in the piresent SeSiSon, draws the at tention of the women voters to the fact, that the Di rector and A ssi stant Director oif the great Houreau of En - gravi ng and Piniting, recenatl1y a p poinatedl by P'resident lIIardling, ar e men whose modralI lives are now under serious q aest ion ini the court s. Di) rector liil is der very seriou.. charges in thle divorce suiit br ought by his wife; the Assistant, .\leCauley, is also being suedl by his wife, and her This Bank as a safe, con tution, organi banking, and der laws whi safety of every First Natio W. C. DAVIS, A. C. BRADHI J. T STUKES, Page Three ti. ink Serves irmer America's greatest pro ,fore YOU receive the y months usually elapse. must be fertilized, tilled, .iend because it helps to s and months between :ions. It permits you to machinery, on credit. stands behind you and rm. I the benefits which the ielp YOU. Ask for full officials. They will be bout our service. & Trust Co. DuRANT, President Cashier suit is supported by letters written by McCauley, alleged to be of such a purient and criminal nature as to sub ject him to the penalties of the crim inal law unles tshe statute of limita tions protects him. Mr. Moore di rects attention to the fact, that a very large percentage of the thou sands of employes of the Bureau are young women. Subscribe to The Times NOTICE OF SALE OF PERSONAL PROPERTY I will sel to the highest bidder for cash in front of the Court House 'loor at Manning, S. C., on Monday, Aug. 7th, 1922 at twelve o'clock Noon, the following described personal proper ty: "One Ford Touring Car, which was taken from Charlie Frierson on the night of .June 3rd, 1922 for the illegal transportation of alcoholic liquors. .1. E. GAMBLE, Sheriff of Clarendon County. ~j~yigates They are GOOLX E uy thiL Cigarette ovnd',ave Money is Known servative insti zed for better operating urr ch insure the customer. nal Bank President. M, Vice-President. Cashier.