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J BUCK TELLS WHY i OPPOSED BOND BILL HORRY SENATOR GIVES REASON FOR VOTING AGAINST IT THINKS IT IS DANGEROUS Says It Will Not Give the Financial Relief That Is Needed. T (News and Courier.) Columbia, Oct. 31.?Special: Sen- ^ ator Buck, of Horry, one of the first original opponents of the bond bill, , and who has perhaps made the most progressive light on the floor of the Senate against the passage of the measure, states in the Senate Record, in brief, his reasons for voting against < the bill. He says: "It is a dangerous j and unwise policy for the State to ad- > opt, and besides it will not give the financial relief claimed by its propon- ^ ent.s. The remedy is more dangerous than the disease.'' Senator Buck made a vigorous attack upon the measure when the c amended bill came back from the 1 house on Thursday. He commended those who introduced relief measures : ?but bought the situation could not (' Le cured by any legislation enactment r ?it was an economic question the so- 0 lution of which rested with each indi- : 1 vidual working out his own case. He j V who is honest, economical and shows i i n 4- ^ U/,1 rv himn nlf' 4 I ' * 11 i i \j i i v i.) J iw i u i v i.i i y ^ v. | . h?lp- and will come out all right. Of j ^ course, he may suffer less, but he will V not be bankrupt. ' This experience is expensive, it is ? true, but it will teach the Southern c farmers n valuable lesson, one that s has been preached at them for years " and years, namely, diversified farming1 d He must cease contributing to a fund \: of seventy million dollars annually r sent out of the State for food products s which can bo raised at home. He ? said the measure had been run through r the Senate without having given it 1 the proper consideration. Ho argued to the Senate that the measure would not bring relief that ^ they claimed, that it would help the large planter, fertilizer companies x and such business as Mr. Anderson's of Rock Hill, because they were able to go, independent of any home bank, to the large centres and realize money with these bonds as collateral, but i that the smaller man could not do so. r It was stated by our Washington 1 committee tlint when the reserve svs- 1 tern gets into orerat'on that the mem- i ber banks will hsvo an unlimited re- > 'Mscovnt liuo at Richmond. If this be ( true the banks of the State will be < guided by their own good judgment as 1 to i?rereasing t1 m" !'hm of discounts. ] They have a ready reached the limit, i in many instances. < This committee reported on its re- ' turn that they conld rot issue currcn- r cy against the bonds, hut. that they i could bo used as collateral for ninety or one hundred and eighty-day notes, } when such notes wore given for aeri- > euUnrnl nnvnnonc ? ?. > ' ... nan'llUUM1 I'EC'OipiS I can bo usee] just as well. In both in- j j stances you have to put cotton in the ( warehouses. Why force the State into a snecu- . lation business which is unsound, un- j reasonable and "vicious?" j, Here the Legislature is submitting!' to the poonle richt on the eve of an election, when they are restless and * have bcm-i led to believe that one ' could really advance the nrice of cotton. Many think it means a profit of* ! $15 to $20 per hale, many will vote 1 for it because it leaves Columbia with " the support and endorsement of their 1 representatives and Senators. Wo can't dodge the responsibility this time by savin <> it is to be submitted ^ to the people. If good comes, the log- t islature will be commended; if only evil, we have pot to take the medicine A and it will be a bitter dose, I'm afraid. Not to discuss the policy of the < State in entering into a speculative j business, pass over the idea of the \ right of the Legislature to enact class ( legislation, i en ore the expediency of ( 1"? + ? 1 * .jvn'i cm uii?i t?> 11is already !inav- ' ^ ily bonded indebtedness of six million | \ dollars (not one dollar of which has j { been paid in thirty years except , through accumulation in the sinking ( fund and royalty from phosphate ( rocks, of which there is no move). i , Forget the fact that besides the-1 \ state debt there is now outstanding j { five million dollars against the coun- { ties and school districts of the State, N besides the notes and bonds of ihe ( different towns and cities, all burdens <. which have to be met by taxation, j pass again if vou will any possible effect that it might have upon the cred- f it of the State or upon the future ( progress and development of our < schools and roads, or upon capital \ seeking investment here, all of which ( 1 submit are germane to the subject. } hut for the sake of argument, pass j them all by and let's see what the bond bill offers as a practical propo- j sition. ( A party stores a 500 pound bale of cotton, takes a receipt of State? < State takes his $45 note due in two years, interest after maturity, with re ceipt as collateral, basis price 9 cents. < ' On cash payment of $4.50 to cover in- I terest he is rriven a $45 (this denomination for illustration only) twentyyear State bond drawing 5 per cent in- 1 terest. i Takes bond to merchant he owes who agrees to credit his account at par, but party says I must have $4.50 * cash to pay State, which is deducted, leaving balance of $40.50. His cotton nets him on his account 8 1-10 cents; 1 having sold his bond he has no furth- < er equity in the interest it earns. i The storage charge is not yet paid; suppose the warehouse requires this n advance, which, for two years, will probably be $5?this must be deducted from $40.50, leaving $35.50; his * cotton nets him 7 1-10 cents on his ac- j count. At the end twc years this note is due, if cotton is worth 9 cents 1 and his weights and grades hold out, i he has $45 to pay the State and retire < bis note Ho has paid for the loan of < his bond for two years, $9.50, or at he rate of 10.55 per annum. Owner of bond goes to bank and >eoures a twelve-months' loan of $45 vith bond as collateral, he pays discount $3:60; at 8 nor cent, his loan lets $41.40;* deduct interest paid State 54.50, he has $36.90, or a loan value of 57.38, for his cotton. Sunpose he has ieen required by warehouse to pay storage and insurance which will be 55, deduct and you have $31.90, or a oan value of 6.38. It is true his bond will earn in two years interest of 54.50, but this is not yet available. If otton is worth 9 cents when his note s due he will be able to retire his lote. Jo has paid State $4.50 .... -Ie has paid State interest $4.50 le has paid storage and interest $5.00 To has paid interest to Rank $7.20?$16.70 deduct interest earned on bond 4.50 vet cost for loan of bond for two years 12.20' State pays his bond 45.00 Deduct 12.20 vet amount remaining for bale 32.80 Dr cotton at G.56 per pound can sell to day at 0 1-2 . . . . 32.50 Ho has paid $12.55 per cent interist and the State has had all the oxion sos of t'ne transaction. At the end of two years, when note incomes due. party sells cotton for 9 cuts has $45 with which to retire his into and the State has lost nothing xcept operating expenses. Rut if i.arty has not paid storage and insurmce charges and refuses to do so. the) State will have it to pay, and it will lave a bale of cotton worth not $40 o pay a $-15 note, showing a loss of 15 per bale, not including expenses noident to the operation of the busitess. Only avenue open to State, is o sue on note, which might be collect d if party is responsible. You can't afeguard the State's interest, the moral risk" element is eliminated unlor the terms of tho bill . Under this dan they propose to take from the narkct one-third of the crop, which, nv, would be 400,000 bales. The State would have this as collateral for lotes of SIS,000,000. )educt charges and your cotton value is SI0,000,000 .oss for two years if cotton worth. 9 cents 2,000,000 Additional loss if worth 8 cents 2,000,000 j Total loss S 4.000.000 i We haven't taken into consideration , he cost of operating* this business. Phe bonds, which will cost something' ike $25,000, attorneys' fees to test vaidity of Act, say So,000, saying netting about overhead charges, printing warrants, notes, books, records, clerks ?tc. 1 am satisticd that if the bill becomes a law and there is much cotton landlod the Legislature will have to orovide an appropriation to care for interest on bonds, because the expenses of operation will absorb all of the 10 per cent cash interest first paid, this bill makes no provision for operating expenses. I opposed the measure from tlie beginning, believing it unsound and dangerous, and would give no relief. Did not at any time engage in any llibustering methods, but fought it pen and above board in good faith. Should it become a law, I hope none >f its evils will materialize, but, on he contrary, that it will do all the ;-o?m which its friends claim for it. If cotton advances to ten cents and I lie bonds are retired there will not be ouch loss, biii the S* .1 lias no pr>ection against loss; therefore, see nothing in it but a speculative deal 'or the State, with no chaneo even of i reasonable protection, but a sure oss, t'"e amount of which depending mtire.y on the value of cotton. Think m\ calculations ore conservative, b ut suppose one follows out ho mctaning of this sentence from section ') of the bill, and see where it vill lead the state. "The payment of saTd note or notes .hall not he required until the cotton dodged to secure the same can he sold 'or a price sufficient to pay the face f said note or notes and interest from lie dade thereof, and all carrying barges on said cotton: Provided, hat the cotton shall not be sold by he South Carolina cotton bond oomnission within three years from the late of such notes or loan without the onsent of the maker of the note or lotes, except that if the price of coton should reach 12 cents per pound he commission shall have the power o require the sale of cotton on two veeks' notice to the owner or payment >f debt at said date if the borrower >hall pay all such interest and expenses." The measure is misleading on its 'ace. It purposes to be a loan proppsition, but on a declining market the ->tate clearly becomes a purchase]'. If here should be a profit it goes to the pwner of the cotton, but if there t 111 i j / ii . i mouui do a loss 11 lans upon tne State. The more the measure is studied :he more vicious and dangerous it becomes. Who pays the $4,000,000 loss or any 3ther amount should it occur? Oh, we didn't have time to think ibout that. "Something must be lone." right or wrong, but " do something." Well, for our part it is done. Extraordinary times. That's true. Hut is that any reason why we should have been swept ofT our feet by a measure which one of its leading cham pions, in his usual attractive and effective manner, describes as an "iridescent" dream, with nothing to it. August Kohn. LATER?News reached Conway last Tuesday morning that Governor uoie L?. uiease had vetoed the Bond bill the night before. An Active Liver Means Health. If you want good health, a clear complexion and freedom from Dizziness, Constipation and Biliousness, Headaches and Indigestion, take Dr. King's New Life Pills. They drive nut fermenting and undigested foods, dear the Blood and cure Constitpation ^nlv 25c at your druggists.?adv. * ENTRANCE OF TURKEY ' IN ARENA OF WAR ?? t MAKES A NEW PROBLEM WHICH EUROPEAN POWERS HAVE TO COPE. INVADE RUSSINA HARBOR Russia Prepares to Meet Turkish Fleet i" the Black Sea,?Sultan's Dominion M ill End Thinks England. London, Oct. 30.?Turkey's sensational entrance into the arena of the European conflict is the most striking incident o<* the past 12 hours. It seems a fateful coincidence that one of the famous German cruisers whose taking over by Turkey led to the first function between the Porte and Great Brit ain, France and Russia should have been the instrument of hostility which makes war between Turkey and Russia inevitable. Russia disclaims any idea of aggressive warfare against the Turks, asscring her intention merely is to protect her interests around the Black Sea from attack. The Russian press expresses the belief that the entrance of Turkey into the field is of more interest to England than to Russian on account of England's trade routes to India and other points in the far eaf^t. English newspapers take equally philosophic views of Turkey's action and express the belief that while the mlitiary situation will not be greatly changed, Turkey in Europe is doomed to extinction. Will Be Naval Warfare. Unless Bulgaria joins the enemies of Turkev an invnsinn r?f rm-Arionii ! Turkey by land is impossible, accord-j ing to British observers and the wan fare will bo naval. Turkey's navy assisted by the former German cruisers Goeben and Brcslau is considered hen to be far more formidable than her army which is said*o be inefficiently equipped and poorly fed. Greece will jump at the chance of again meas urine; her swords with Iter ancient enemy, it is felt in London, and with the two battleships purchased from the United States she will be in position to meet the Turkish ships on equal terms. Tii the Black Sea the Russians have no single units as powerful as the Goe < j hen or the Brclau, but the number of I their vessels, it is argued ;n London, will give them command of this inland Sea. Albania Falls Apart. The State of Albania, considered a masterpiece of the diplomacy of the i great powers, has effectually disprov- j ed the theories that she was a compact nation by resolving herself irU> several separate governments, some of which are nothing more than independent municipialities. The disrupted Kuronenn concert i? rmrosnntPfl at Alona by Italy and by four wander-j ing commissioners with no government to accept their advice. Greece has invaded Northern Epir-1 us and complacently announces that; her action has met with the approval ! of the powers. In the North Essad Pasha, representing Turkey evidently is preparing to occupy the unstable throne recently deserted by Prince I William of Wied. Lull in Great War. In'the area of purely military activity there seems to be a general lull. Special dispatches from West Flanders continue to describe the terrible fighting which has marked the great battle there, but official communications from both sides indicate that there has been little change in the relative situation of the. opposing arm ies. Beware of Ointments for Catarrh That Contain Mercury.. | as mercury will surely destroy the sense of smell and completely derange the whole system when entering it through the mucous surfaces. Such articles should never he used except on prescriptions from reputable physicians, as the damage they will do is ten fold to the good you can possibly derive from them, Hall's Catarrh Cure. inJinnfnrtni'A/l Vw* V I c'u ? ...v..Mvvui VM I/,t o v^num:y <% Co.,Toledo, Ohio, contains no mercury, and is taken internally, acting directly upon the blood and mucous surfaces of the system. In buying Hall's Catarrh Cure be sure you get the genuine. It is taken internally and made in Toledo, O., by F. J. Cheney & Co. Testimonials free. Sold by druggists. Price 75c per bottle. Take Hall's Family Pills for constipation.?adv. UNITED STATES HAS KEPT PEACE. People Drawn More and More Together By Great Wars. Washington, Oct. 23.. .President Wilson today issued a proclamation designating Thursday, November 26, as Thanksgiving Day. The President's proclamation refers to the fact that the United States is at peace while the rest of the wcrld TAX NOTICE. The Boohs will be open for colection of taxes for liscal year 1914, from October 15th to Dec. 31, without penalty. Payable during January with 1 per cent penalty, 1 per cent addition al, and 5 per cent additional for March, making a total of 7 per cent penalty from the 1st to loth of March Regular Tax Levy. The regular tax levy on all taxable property in the County is as follows: State Tax 6 mills Ordinary County 3Va " Constitutional School tax ..3 General County Roads and Bridges 3 Court House and Jail Bonds.. % " Re-Indexing Records % " Past Indebtedness 1 Township Roads and Bridges 2 Tntol 11-1/ >? *. vim -I I TS5 An additional levy to pay special taxes voted for school purposes in certain school districts is as follows: No. mills 1. Port Harrolson 2 2. Evergreen 4 3. Dog Bluff 3 5. Sandy Plain 3 0. Athens 4 7. Green Sea 8 0. Little River 4 11. Socastec 8 It. Withers 3 13. Centenary 4 15. Haw Branch 5 10. Pincy Grove 4 17. Wanamaker 8 18. Loris 8 19. Burroughs 7 20. Mt. Olive 8 21. White Oak. 3 22. Burool 4 23. Goon Hope 3 24. Cedar Grove 3 25. Gurley 3 20. Cool Spring 2 27. Zion 4 28. Chapel Hill 4 29. Powell ' 4 30. Princeville 4 32. Hickory Grove 2 33. Finklea 4 34. Oak Grove 4 30. Grassv Be v 3 33. Hickory Hill 3 39. Simpson Creek 4 q i. uaisy 4 23 Hulls Island 4 47. Tilly Swamp 2 40. Zepar 7 47. T?o Hill ' S 43. Fight Mile 2 40. Rod Bluff 2i 70. Floy 4 s Id' 71. Floyds X Roads 4 .72. Popular Hill 72. Allen 2 76. San ford .77. Sweet Home 7 79. High Point " 00 Muster Shed 3 01. Wampee 4 02. Savannah Bluff 03. Rohoboah 2 00. Cam n Swa rnp . 07. Mt. Pisgnh 4 03. TTomowood 4 00. Maple 4. 70. Poplar 2 71. Shell 4 72. Loon 73. 71 t. Hf?vmo?i 2 74*. Four Mile 4 77. Virgo 70. Tcddvillo 77. Strawfield 2 73. Fbonozcr 7 70. Pueksport 2 80. Spring Branch 8 31. Salem 2 82. 71 ill Swamp 3 33. Red Hill 4 87. Watts 4 80. Cedar Crook. 4 87. Feathery Bay 3 88. Waccamav/ 4 80. Seven Mile 4 00. Pauley 2 01. Pleasant Hill 2 02. Vaughts 4 94. Oak Grove 2 07. Twelve 7!i!o <> 97. Carolina. 3 98. Kingston^, 2 99. Aynor 4 101. Pleasant Grove 1 School ITouse Bond Tax. An additional levy in School Districts Nos. 19 and 80 of two mills, and in District No. 01, of fopr mills is made to pay interest on the School House Bonds, and to create a Sinking* Fund for their final settlement. Capitation Tax. A Poll Tax of One Dollar for School Purposes is levied upon every male citizen between the ages of 21 and 00 years, able to earn a living, except Confederate Veterans over 50 years of age. Capitation I)og Tax A capitation tax of One Dollar is levied upon each Dog in the county. Road Tax A capitation Road Tax of $2.50 is levied upon every citizen between the ages of 21 and 50 years who is liable to Road Duty. Fishery Stamps. Fishery Stamps may be obtained from the Treasurer's Office at any time. Persons ordering by mail will please inclose postage. Treasurer's Itinerary. The Treasurer will attend the following places, on the days and hours named for the purpose of collecting taxes. Bayboro, Tuesday, Dec. 1st., 10 to 12 a. m. Green Sea. Wednesday, Dec. 2nd, 9 to 12 a. m. Strouds Store, Wednesday, Dec, 2nd, 2 to 3 p. m. Spring Branch (Hammonds' Store ) Thursday, Dec. 3rd, 10 to 12 a. m. Floyds School House, Thursday Dec. O ~ A n A- A ? oni| c. w ** p. m. Hinson & Wards' Store, Friday Dec. 4th, 9 to 12 a. m. Rehobth, (Martins' Store) Friday Dec 4th, 3 to 4 p. m. Conway, Saturday December 5th. Sanford, Monday Dec. 7th, 9 to 11 am Loris, Monday Dec. 7th, 12 to 4 p. m. Little River, Tuesday Dec. 8th, 9 to 12 Wampee, Tuesday, Dec. 8th, 2 to 3 pm Aynor, Wednesday, December 9th, 10 to 12 a. m. Galivants Ferry, Wednesday, Dec. 9th 2 to 3 p. m. JOHN HOLT, Treasurer Horry County. Heup to organize a rulal life and make the country a better place in THE GRE A successful |^P |^P |^P all Blood Di V"" men and women II past 35 years. 1 F. V. LIPF Twelve Reasons Why You Should Buy Your * ? ?? Uroceries of Us JVo. 2. BECAUSE you positively get honest weight. Our scales are regularly inspected and sealed. They weigh you out what you pay for. Short weight and long business life don't hitch. I CONWAY, S. C. in l? mmmmmwm- unga?wmammmmfx-mrmmmwum mi I The FARMERS' ST, | Uith a view to assist the | growing section of Horry | its w orth from the start, | s any. $1 If you want to depoeit y | ing bring it 10 us. If we ^ priii uu ku in every way coi | {farmers' S I AYNOR ! SrrE^TffiznsaE^Eaaaa'acijfi^tsaEaj'a To Give the Public the ] Their Produce, and Sell Tliei at the Lowest Prices the Ma BBBSSHsBBSI sell the cotton and othf with the old reliable Dusenbury i Toddvi We are Prepared to do your JOB PRINTING on Short Notice. Send us your order and you will be pleased with the work. 1 HORRY HERALD. 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