Historical Newspapers of South Carolina

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With the Churches i .. --- -?? r" ' . ? - PELION MISSION Rev. B. J. Wes6lriger^ Pastor. Services a6 follows: Holy Trinity. Pelion?11:15 a. in. first Sunday; 4 p. m., third Sunday. / St. John's (Black Creek)?11 a. m. <x - -third Sunday; 4 p. m., first Sunday. Church of the Good Shepherd, 5 <"* * ~ i . Swansea^?l 1:15a.m., fourth Sunday; 8.:30 p.. .m., second Sunday. ?\ Orange Chapel, Springfield?11 a. m., Second Sjund&y'; 8:30 p. m.t fourth Sunday. .. ... ? ???. ST. STEPHEN'S EVANGELICAL ; LUTHERAN CHURCH. ; .pp.. Mrv B. H. Barre, Supt. of Sunday | School. Sunday School at 10:00 a. m. . . Divine services at 11:00 a. m. and ; " 8:15 p. m. The morning theme on Sunday, June the 11th will be: "The Unsearchable Mysteries of God." The evening theme will be: "The Vital NePed of the Church To-day." Note the change in time of the evening service. The Luther League service at . 7:S0 p/ m. To all the services the public is most cordially invited. . ARTHUR B. OBENSCHAIN, Pastor. ? ' &. * \ ! .... rrr? .. LEXINGTON CIKCTIT. . - V,M -? Appointments. for Sunday, Jun^, 11th, 1922: Lexington?Sunday school at 10 a, in., W. D. Dent, superitnendent. . Classes for all. Preaching at 11 a. ' t l/' m., by the pastor, followed by the ?'.* receptidfc of new members, w: w.; Horeb?^Sunday school at 3 p. m. "D: L. Harmon, superintendent. Classes for all. Preaching by the pastor at 4 p. m. ; Red.Bank?Surylay school at 10 a. * m.t J. .FV Sharpe; superintendent. Classes for all. . Sunday School Day ; r: * . < exercises at ? p. m.v Note the hour, * this is for the benefit of the small . children. Come and enjoy /the hour s ? .With us. Bring an offering for the Sunday school cause. - All will find a . welcome. BUA. WHITTEN, v: .' " *'. ; . Pastor . NOTICE OF MEETING OF DEMO iW1URATli; JfiJUBiWll v TEE FOR IdEXINGTON OOtTVTY. | >V . .... . -* " - ? : ' X ' A meeting- of the Democratic Execu Uive Commits fdr/i^xington County Kr 5 j * v.> -V - ? W1U be held .on Monday, June 12th, ^ i922,^at l0 o'clock A., id. in the Court j|?3|ouse, for the purpose of fixing- asW: sessrS&Qtftjon candidates for various mloffices, fixing^tiEtty.campaign dates, and attending, to . other matters of imb^r^^e^atecutive ^ ^yOur presence at this meeting may " save the trouble 8J\d expense of other * meetings. T. C. CALLISON, County Chairman./ BNIVEatSITY OF SOUTH CAROLINA Entrance Examinations Entrance examinations to the University of South Carolina will be held by the County Superintendent of Edu- ! " cation at the county court house Friday, July 14, 1922, at 9 a. m. The University offers varied courses - of study in'science, literature, history, lai^ and busaness. The expenses are frioderate and many opportunities for self-support are afforded. Scholarships are available. For full particu rara write to President W. S. CURRELL, University of South Carolina ' v " ' Columbia, S.XJ. " June 1? NEW SEASONABLE SEED ' ~ Fresh arrivals of early amber and orange cane seed, jkearl or cat-tail millet, rape seed, pop corn, all varieties ot born for garden, trucker's or field . plaeftting, Valentine, Ky. Wonder and Cornfield beans, cabbage, tomato, beet, turnip watermelon, etc... All seed handled by us are guaranteed to be itfrfesh or new crop, grown by . reliable seedsmen and true to name or variety. A biig assortment of flowey. seed/in popular priced papers. ... - HARMON DRUG CO., 1W Lexington, 6. C. Si, ' ' ? NOTICE 6F ELECTION. ' All resident qualified electo^ of the age -of twenty-one years in Center school dstrict No. 7, will please take notich that an election will be held at the sehoolhouse therein, on Tuesday;-<the 20th day of June, 1922, tc vote an additional levy of four mills for school purposes. Polls will open at -7- a. m\ and close ot 4 p. m. Bring tax=' receipt and registration certificateu^ " . By order of the County Board qf Education. fl ; . . . R. B. RAWL, i.. COLIE LONG, y K v.' -GEORGE ^AMINER. . .* ( * . ... Z ' ' Board-<"of Trustees Center School DiSr trict No. 7. June 7th, 1922. 2w ' Svgv. * * few ' ' jg: * LR: IRVING FISHER, OP YALE UNIVERSITY, ONE OF GREATEST AMERICAN ECONOMISTS, STRONGLY ENDORSES NEED FOR PROPER AGRICULTURAL FINANCIAL MACHINERY. For the benefit of its readers, CC TTON' NEWS takes much pleasur in publishing the following co: lmunication directed to President Wannamaker of the American Cotton Association by Dr. Irving Fisher, of Tale University, one of the leading economists of America, in which he very strongly endorses the great need for a proper * system of . short-term agricultural ' * credits divorced from our present -banking system: 'YALE UNIVERSITY "Department of Political Economy "Prof. Irving Fisher, ; "460 Prospect St .; uNew Haven, Conn. "May 19, 1922. "Mr. J. S. Wannamaker, President, "American Cotton Association, "St. Matthews, S. C. ' , "My dear Mr. Wannamaker: "I have your two letters of April 21 and May 1 and greatly regret the impossibility of having answered more promptly because of absence from town and a hurricane, of'work.' 'Stabilizing The Dollar' is published by the Macmillan Company. 66 Fifth Ave., New York$ and you should have no trouble in getting hold of a copy. " vr am immensely interested in all , yon say in regard to the losses 01 the farmer through the'rise in the value of the dollar which means ^an ' increase *n the burden of his .v debt. Ha'd we had a stable dollar this would not hav'e 'occurred. I. think your Association ittight well go on record as endorsing the Stable' Mbriey League as idid the recent Agricultural Congress ;in Washington. One of our vice j presidents is Henry Wallace, Edii tor of Wallace's Farmer, ^.nd son I of the secretary of agriculture. I I enclose a letter head whidh.will . | show you who are connected/with j the committees. Waddilf i. Catch-, ings is Chairman of "the" Executive Committee. I believe well worth the while of those w;ho suffer by these aberrations of ourrdol-; lar to try persistently for a few years to secure stabilization. I begin my answer to your letter by" this statement because I believe that in this suggestion lies the I permanent solution and that tern- . porizing merely means continuingthe waste and loss. ; ' I believe that our systeWof loans ' in this country is inadequate and ! there seems to be at the present time no proper machinery for giving the farmers the kind of loans they need. I do not- think, however, that the Federal Reserve System should be used for this purpose. Farm loans are a thing by themselves, differing, in length of term and security from commercial loans. I think that all'producers ought to have a chance on adequate . security to get any loans desired at , the proper market price. X emphasize the last named* ^qualiflcatipn because I absolutely ^approver Qt j the agricultural population 011 lirn- j iting the rate of interest;. The rate ! of interest ought to be flexible and to rise and fall as supply and demand dictates, and any attempt to artificially lower it will take revenge in inflation', } which, while temporarily beneficial to the farmer, in the end wrill hurt him just as deflation does. And just as I disapprove of artificially controlled rates of interest, I disapprove of artificially con1 trolled prices. To stabilize the price level is quite a different thing from attempting to fix the price of any individual commodity other than gold (which makes the money standard and which we fix already, though on a wrong principle). If we stabilize the general price level, that is stabilize the dollar, we shall stabilize the price of farm prod- - ucts so far as they ought to be stabilized and allow any changes*it agrcultural conditions to have full oftwr Thp/ trouble now is' tbajt 'l the major part of the changed " the price of cotton and everythihg f else is due to the change in the value of gold and not to conditions of the cotton crop.' When 1 say the value of gold I mean, of course, the value of our gold dollar which is affected not only by conditions of gold but by conditions of money and conditions of*credit. The, recent great fall in prices was due to the arrest of credit. It was deflation following on inflation, both' of which are evils. "I think the farmer and the cot? ton grower should not be penalized for holding their products in storage. I ..have no objection to ci iing this speculation; but it ,is hot of. the manipulative kind' which does damage, but of the regulative kind, which does good. "I am sorry that I cannot take the time to go into such a minute study of the different kinds of proposed legislation as wpuld enable me to endorse any particular bill, as I have so many other com-., mit^nents and the collee year is just winding up. But I think'I nave' ' madesmy position clear. If you. f care to quote any of this letter in , any public way I shall be glad to have you do so provided either you quote the letter in full or first submit me the passages wh ch you wou^djike to use. ;. < **\ : "I hofte I understand you r&rr^cily in fmnKing that you wished to have me frankiy- state .my views in i so far as I have been able to form them. . fr;y >' "With kind regards and regrets that I cannot reply more fully. I am, "Very sincerely yours, U "(Sgd.<) IRVING FISHER." 1 **_-i A ?.A. r . I iviosi Acme rainiiu I Confirmed by Re 1 sands of Experts 1 I | By J. S. Wannamj g It is conceded by the best economis I adequate products for the sustenance of I year at the rate of two and one half acr? I last two years statistics show that inste. I illustrated in the great agricultural pr< - When the War Finance Corporatio R ur>nrnYimfltp^lv One-Half Billion Dollars -rr- ? j ?? tested against its removal and the policy by the Federal Reserve System, and poii enforcement of the deflation policy woul to pay a fearful penalty $?and would m< staple crops, including cotton, as the wo account of the impoverished condition oi prediction is being startling! y verified 1865.. , < i ; CONSENSUS OF JUDGMENT LEAD!! "v- - | '' . . For the purpose of ascertaining the * prices, the American Cotton Associatioi a synopsis of the replies: "(These questic of the cotton industry) ' 1. Estimate of indicated Yiel ... .. .i. ~V'.' 2. Estimated Consumption of cotton year s ' - - ' . .. qgHp . v ' 3. Estimate of JUntenderable 4. In my (the expert's) judg] o , the following estimated i If 11,000,000 bales: If 10,000,0^5bales:.... ' , If 9,000,0^ bales: I-1''I,f;.8,09^??alees 1 1 ..abyfygg;.. If 6,500,0G$baIes: yMpr Many of those making the above e ment to show an estimate^ per cent h ment will overestimate ^he..crop this sea also po&nt out the certamjfcsLof a famine yield. While the above report, a* exph best experts in the variour&ies of the c< rectness of the rfeport on ^aneage and in date last year, reading asj^ellov/s: "Allowing a deduction in pro per cent in the use of commercial an estimated total of 42.73 per cenl crop, would be The folic wing reflects1 the opinion "Before the ^actuations the?200 point up or down in one d have become more:violent. Figure obtainable. Last/year's crop waj mestic consumption for the same j *um shows 1.494,676 hales more th 5 612,659 bales. A like amount exp j 577 bales. The total consumption creasing. If jt- keeps up during th tion will be 4,500,000 bales more tl ! possible by August 1 st not a bale o mills. The first Dfipsvtxnent of Aj | Wfeathe^r and weOVil as yet are 4hai us. If figures dofiThe, weather, w - sibly the answe^ ^to the que st ion, ' V - ' : 41ness on the last d&y of the present ^ isojS." -"vv; :o y. gene i J >' Sitt v1* **&?> . .... . 6) *, . - w^uArthur Shelton, ? prominent st "Cotton is not the oniy f'ber tl pointed out that the jute crop of Ii that the new crop of jute and hemp year and wool production 15 per i hemp, flax and silk are indications , for cotton, jute, hemp and wool se of the relation between th<; prices < At no time since the War between boll weevil now covers 90 per cent of tl weevils on record have passed through The cotton farmer is loaded with an inf for production are both at lew ebb. -w adjustment The American farmei\s incurred loi - 11 V.r,ctrtrl r\n -f V\ O pnct AT n?-<,rt?:ctior iXJfJ lX&tl Vll Vli v vvuv v i ?. -.*- ? ducers have suffered losses of $^,300,C . tions due bankers, merchants, Aanufac of these crops. This brings tiys nation . within the last century,?an adjust men agricultural products. " <- In view of the world's steadily inc | of this problem is a nauonai aitu vr n? | v supply and demand plainly indicates tf between the States before :he 23 cotl of sufficient supplies of rave colien. will period within the last half century. ;i "V,PEVI The settlement of the Germ *n f is assured. This means an er>ormous i: , efforts upon the restoration or corjmei result, the law of supply ard dome d v i : ' - u : e of Cotton Supplie jplies to Questionaii [n Various Lines of aker, President, American Cotton Assci ts that it is necessary to increase the ar< ' human life to take care of the increase js per capita, or thirty-seven million ac ad of this necessary increase we have' ; oducing sections of Russia. CAUSE OF COTTON FAMINE. n was suspended in May, 1920, it had , and there were pending applications of deflation through restriction of cred ited out that the suspension of the Wa Id stagnate commerce, paralyze agricul ean the absolute certainty of famine s rid was dependent upon America for : a large proportion of the world and t today. We are face to face with the 4G COTTON EXPERTS WORLD FAC SUPPLIES. views of the leading experts on the q 1 mailed out thousands of questionaires rnaires were not sent to the producers h J ' . J . . ' d as of May 22, 1922: F American Cotton from the growing " BUI Cotton now in American Stocks: me .it, a yield of American cotton from production, will bring: , . 35 cents per pound. 45 cents per pound. 60 cents per pound. 80 cents per pound. e\/\ i. : J w cenis per puuiiu$1.00 per pound. stimate as to indicated yield, point ou1 igher. They emphasize the fact that ison as badly as they underestimated i in cotton supplies regardless of the p lined, is made from questionaires not * >tton industry, i t might not be amiss to i dicated yield issued by the American ( duct ion this year of 12 per cent on ac fertilizers, added to the acreage reduc t, the forecast of production for 1921, * i. EX HISTORY REPEAT ITSELF? of the cotton trade concerning the car? were small but during the War becanu [ay limit Until a month ago fluctuatic is from the Government Census Bureau t 7,952,600 bales. Exports to April 3< >eriod was 4,449,823 bales. By addinj an the 1921 crop, and three months ye orted each month for the balance of tf i and exports for April was 1,058,000 1 ie last three months of the cotton year, lan last year's crop. The carry-over w f American cotton will be left unpurch; priculture report as to 1922 condition v nd in hand'.. Amateur acreage increas eevil and acreage are already outdista fill fiistory Repeat Itself?', will be kno^ cotton year, and we will have a repe :RAL SHORTAGE OF ALL FIBERS. atistician and expert, well says: iat is likely to be scarce during the ne: ndia was only 40 per cent of normal la: i is likely to be s mall. The flax crop is :ent less than an average. The advam that the general shortage of fiber is noi em especially likely because of a shorts jf these fibers." the States has the world's cotton supp] ie cotton belt. The best experts show t i the past winter and that the fields are lated debt; his cred.t is seriously impai m OF FARMERS' LOSSES SERIOUS PR( sses on the production of the 1920 and l and the selling price, and of- this am >00,000.# These stupendous losses are j turers and other lines of industry extei face to face with one of the most seri t of these inflated debts so that we ca :reasing needs for agricultural product iwide necessity. The unchangeable k lat we are facing the most acute famii ton crop can rea ;h the market; and ev< * : iL? n. be cr more sen jus tuntcr? *.? ?.??= [VAL OF FOREIGN COMMERCE Reparation is now a certainty. The ad, ncreased demand for cotton. World rce, realizing that it is only in this way trill function. The demand is assured. .. , . .. - i ... is Since 1865 Is e Sent to ThouCotton Industry ciation. t . \ ea of cultivated lands to supply d population of the world each res .each year- > Yet within the a decrease. This is startlingly S I an unused revolving fund of for millions of dollars. I proits and contraction of currency r Finance Corporation and the dure and cause our civilization upplies in the production ,of production as never before on heir inability to produce. This most acute cotton famine since ' / f IING EXHAUSTION COTTON uestion of cotton supplies and , and we beg herewith to submit ut to experts in the various lines 8,500,000 Bales. crop for next 1 " 14,000,000 Bales, r WILL NOT BE AVAILABLE. 1,250,000 Bales. the growing crop, based upon i : t *. t that they expect the Governthey are satisfied the Governit last season. However, they possibilities of the present crop ent to the producers but to the refer to the nearness of the cor^otton Association at this same count of the reduction of 51.17 tion of 30.73 per cent, making as compared with the 1920 g 1 y-over: * ? 1 JS/Ji I : so great the exchange adopted | ins had a narrow range but now 1 i reports are the most accurate 1 Oth were 4,996,853 bales. Do- ' I g exports and consumption, the 9 t to go. April exports were 9 ie cotton year would be 1,837,-. 1 bales and is increasing, not de- 1 exports and domestic consump- . I as about 6,000,000 bales. It, is I ised either for export or by the irill.be published on June 2nd. H lers and decreasers are among 9 need but not discounted. Posvn long before the close of busi- . itition of the cotton famine of '? . 1 xt eighteen months. We have it season, and it is now reported. some 70 per cent of that of last 1 cing prices of cotton, wool, jute, V v a price factor. Higher prices / ige of each of these and because lies been more uncertain. The ; hat the largest number of live ' ) being infested as never before. w . - p> 7red and his ability and incentive " ; -i DBLEM. 1921 crops of Twelve Billions of lount the Southern cotton prorepresented by unsettled obligating credits for the production ous problems it has confronted n have adequate production of icn, including cotton, a solution iw of cause and effect and of le of raw cotton sine* the War en before that time, the matter g >n consuming world than at any justment of the Russian problem leaders are concentrating their prosperity can be restored. As a What about the supplies? ; i * | * i