Historical Newspapers of South Carolina

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v .♦> ./ . ’ V ' “ /> t- .:> PlfltVOOX . * The Press and Standard, Walterboro, S. C. Wednesday, February 26, 19H \ ■ Hi 1 9 7 ro'i is l In -<* v». w e„ the undersigned Bankers, Supply Merchants and Business Men of Colleton County, realize that the fight now on for re ducing cotton acreage in the cotton growing states must be won if the South is to maintain her supremacy and we desire to aid in winning. " % * .. We, therefore, desire to urjre every farmer who expects to plant cotton this year to sign a pledge to reduce his acreage at least one-third, and those who are holding cotton to arrange to pay their past due accounts and continue to hold it till the price goes high enough to yield the farmer a profit. To this end we desire to assure the farmers of the county that. it shall be our policy to aid them in carrying out their acreage reduction and cotton holding to the extent of our ability. ; We realize that other crops than cotton are good security for money or supplies and we feel that the welfare of the South depends upon the Southern farmer’s getting away from the one crop idea, growing more grain and raising better live stock. ■ • • • ’ ~ ' ‘ > .« . • v • •••*'. . u - This is one of the most important movements ever undertaken in the South. The fight is being waged not for this year alone, but it is the turning point in our commercial history. If we lose it means additional commercial slavery with low price of cotton, New York continuing to dictate the price for our product, and it therefore means not only ,the loss of millions of dol lars to the South this year, but millions.in years to come. If we win, it means a new era in commercial history of the South. It means commercial freedom and it means the saving of millions to the farmers and business men of the South not for this year, but for the years to come. It means the greatest change in the business interest of the South that has ever taken place. It means a vast change for the better in all lines arid in every phase of business touching the South. We cannot afford to leave r> any stone unturned to make this matter a success. ’ ^ ^ ~ ^ n ^ Therefore, we wish to state that we shall stand with the farmer in this fight and we urge him to sign the pledge and reduce his cotton acreage and plant other crops instead of so much cotton. < COLLCTON MERC. & MFC. CO. by Paul Sanders, Pres. VARN BROS. CO. by H. W. varn THE BANK OF SMOAKS by E. D. Sauls, Cashier. - , P. M. BERRY SMOAKS BANKING CO. by W B. Miley, Cashier. H. D. PADGETT, JR. BANK OF RUFFIN by H. D. Padgett, Jr. , WICHMAN-BROWN CO. bq G C Brown. FARMERS & MERCHANTS BANK, Walterboro, by I. M. Fish- burne Vice-Pres. FARMERS & 'MERCHANTS BANK, Cottageville by B. H. *11- lis. COLLETON MERC’ CO. J. D. vonLehe Mgr. TERRY & SHAFFER, by N. G. Morrall. - H. w. BLACKER. FIRST NATIONAL BANK, by Jas. E.,Peurifoy, Pres. COLLETON BANKING CO. by R. L. Fraser, Pres. FARMERS MERC. & WARE HOUSE CO. by J. M. Witsell. The flirt N«tion») B»nk »nd the Colleton Banking Company have signed the above with the following qualifications and addition,: ' , w ? - ^ * — . * O ' *> * t / » While we are strongly in faror of the reduction of cotton acreage, yet we don't feel' that the fanners of this County should be requested to cut their acreage to the name extent as other counties. TJie aTerage planted here is about seven or eight acres to the plow. Colleton is not a cotton producing county and if the fanner* throughout the South would cut their acreage planted h ere^there would be no over-production. '• .1 ■ - ‘uzmu We don t, therefore, think that we ought to urge our farmers to reduce their acreage where they do not plant over ten acres to the plow. While it is, our earnest desire to assist the farmers and business men ,of the coiinty in carrying aut the plan of the new organization, yet at the same time we think it our duty to call attention to the fact that the banks have been very heavily taxed in recent months in helping finance the war, and that they now have invested in Liberty Bonds many thousands of dollars that have been subscribe but only the first installment of which has l*en paid. Now that this war is over, many people wh v subscribed to these bonds feel that there is no obligation on their part to take them, so the banks are carrying thousands of dollars in Liberty Bonds that the p00 pv subscribed for but have not taken. We would also call attention to the fact that we now carry many of our 'customers who are holding cotton and we have loaned or agreed to loan, large sums to others who have already given us a mortgage over the cotton they expect to plant. Attention also should be directed to t^e request from th' government for the banks to purchase Treasury Certificates in large amounts. We are also urged to help financ^ the Victory Loan which will be launched on April *’1 So that it will be seen that while we are perfectly willing and anxious to serve to the extent of our ability, yet it must be remembered that our ability is limited to the PRINCIPAL OK SOUND BANKINd. WE MIST PROTECT 01 R DEPOSITORS, and meet every other legitimate^demand upon u< We would' 1 suggest that another slogan he abided to the n now launched, and that is for a greater and more rigid economy on the part of our people Mane seem to think they should borrow more money this year than ever, and that .h.y can continue to live in the pr^cr.t basis of high cost without regard to the future We would sound a warning FOR GREATER ECONOMY AND A CLOSER ATTENTION TO BUSINESS. If we are .correctly advised, the bbll weevil wiD do consi derable damage in our county this summer, aW that next year vuTVill make practically no cotton:- It seems to us that it behooves.our people to'put into Immediate effect the most rigid economy. * a • - ~ . As we go through the country, we see hundreds of bales cf cotton out on the ground, in all the rain, without <*ven a shed over it. Such waste is inexc sabl do not wish it understsood that we are going to advance money to hold sucH cotton until it rots. While cuttingacreage also cut expenses. Let the pleasure car be lUf ander the shed and .thereby save gasoline and tires until cotton goes up. Save from damage and rain the cotton already made.. Borrow just possible. Get on a cash basis and prepare for the boll weevil next year. ’ / NO'’ Y ■ as little money as