University of South Carolina Libraries
m _JKAB> MMOX, ^?VpS|ll HI. and A M. Dwight. Jr.. Item the oalslaSOhlss from Sumler 4o*oty~to Climns College, il Mies Bmhs Umi 1mm gone to Rock Hill for * vtett to friends, preparatory to tosorlasj Winthrop College ?* f *e> .* i ?illy Orot? loft this afternoon tor tStoSstoee Osttoaes ?bere, aa a St Orabet of tho Y. aft. C. A. commit, tie. stowwAt emlcemsrthe Iroehmea on Abate lorn tale after where she w Ml OV ft' Stood to spending some ? Salads* H. O. v M tonte Merle PuBsmt end Kate Mel haht let* Me^ afternoon foe ?eck ItMl Wtjit Imry wt? eater Winter** CtHtoJii' ^ **. Mr. and Mrs. U I? Buftmaa. Mtos late Btlttmn* and Miss .resale Stoib lift todejr to sftond a . lam day* In SsmtssVsnsimg Ilm tri? se--**eeet cor. SUeS SfSmV to free? Anewett. asm to the I; attd tele tri? her stay.?Co? l's} 9x Km*, secretary ?>f Ito T. M. i\ A* a* the thiieosslty at lmt|t the Brec which he of Ike eueneeerM el* hots* he Mtgh a Me tote retsrnedt early to avef ska* tie* students at ?Columbia Reeeed. U Baity Of near | e row days with ?tBV l?ofli-atr 9W% JBmmmmm/myw^? JoBa Wltoee. deuchte r of Dr. See bee* awarded the to to tJKsshioe ctven If the Federation of Women's clube of Son* ?JoJOHew Thtatos signal ?? I fee* httae Wltooe?Men mftisf e*%caUbalA ? ^Rssjte, Wtoee) hee returned to wuajiwtjsmte ettemt to* letoty Mill * tomatoes* mVe, PV-B, MS* Mr. Marie Weed, of Goldsimro, If. *sW. ftPL SSL' city. Bowman left this I e* flanesieve Callage et! ems- me ^mwmymm~ -w^ma i Me> A H. Forbes hee returned to the *tty> after e visit to his mother In Meet T^Jtk city. Mas feroJtno Deck Is beck la town after si Seiende*, vtet* to relatives In M?|Li vfejah ha* returned to Wisjshjs^ Col lose as e member of the eerrs la order to meet the new stu? dent* cfc their arrival. tJ. D. C. AlTfU'U**, DmMMMeroon Cheator U. IX C. <V >ls4 Ist wit ter to* beetn ceHectWig bcoftn Afcbe flout h and tht Confeder My ItUvt for the new library attd to eddU theii yearly. This summer B mtS spent Ml.** for books aa fol leewf Confederate Military History. 11 resumes, sirs. S. K. P. Boas* bto tery ef the Ku Klus Klan, John #. Reagan'n Mettolrs; LavsU: Grand Met lese Stories; Bankston: Camp Are Stortoa; Cook': Surry of Eagle's Nest, and wpkt to Hilt; Page In Ole Vir stela) and Among the Camps. The olAJofcen's books have been placed In the Ohrto League library, but there to no seem there for the other vet meet at present The chapter has a tew ether books, among them. Ma motonef JerTerson ??v? by his wife, wakf* was presented to It by Judge TtlentSS B. Richardson. Tito eaapiei to slso keepang a. scrap b4M>H fa which It Is collecting articles of Isjsafsat concerning Confederate af A partial scholarship o( 140.00 has bten areeeated by Dick Anderson Chaster to e student from Sumter at tending Winthrop. She will have to horresy the other $71 necessary to pay the rest of her board there. The eaaeter has been unable to raise more tliea this partial scholarship this year, but l| any one la Interested In helping e deserving young woman obtain en cduostien. the president of the chap? ter. BJtoa ArmtdA Moese, win be glad to pejt him Sa the wsy of furnishing thto assistance. -aUBs My-Ttsm?Antiseptic. Anodyne pain, stops putrefaction.? Yes Till sol to pianos st factory prices lilt eav terms, at the Wreck Moray?Adv.. No. Iff will cure Malaria or Btlloui Feveg> It hUto the germs? Advt, If lAHWw wfU Kfivti r ? ???? .? ??? ? SAYS THAI WlUi UIVK VP 0*FICK Or WARKHOl'SK COM? MISSIONER. In letter I? J. A. Banks of St. Mat? thew? Blesse Lieutenant Toils of Ills Fight, mm He Sow it, for Kn UilMMRi ol Warehouse Sy*tcm~ TtHMkM-?mu Any Sensible .wmii Con Msstsgs to Nu% Since bo lino star! e# It ?ml sVit it tm Htm llasis? Twenty-ft ve Cent Cot Columbla, Sot. 1*.?John L. Mc Laurtn, la a letter addressed to J. Arthur Bants of Si. Matthews, copies o# which were distributed to the press yesterday. says that he will shortly resign as State warehouse commis? sioner. The Commissioner, in seven typed* sheets, comments on his pur? pose M follows: "It Is my desire to retire as State warehouse commissioner, and thin is ' M> advise you that. I will tender my resignation to the governor at an early date. My purpose Is to give you an opportunity to take such action as you may doom wise, to secure a capable man~ a* my successor. "I have established the system, so tar as I have gone, on a Arm founda? tion; we are, taking in new houses ?early every day, and. In spite of tbo ht#a price ot* cotton, it would sstonlsli you to know how much Is being stored. The present State administration fa? vors retaining the system on its pres? ent basis, whtlj I favor its develop-[ ssent upon broader lints. I can not sweeaed with opposition from the Stats administration. "Another reeeoe why I wish to re? tire is that I am tired of public life. Twanly**vs years ago, when I went to WaahAngtfon, X found)- negroes In nearly *ll et the postoelfces, and our people were rest toes and resentful under this condition of affairs. It finally cul? minated. In the. bur sing of a postmas? ter la this State and in Mississippi, and had there not been a change there is no telUng what might have occurred. I see nsysoet to work with the deter mtnatlon that, no matter what the cost warn to me personally. X would remedy this condition of affairs. The ?njy way to, da it was to gain the re ipect and confidence of those in au? thority, and make tham sea What; was right. Personally It did me no good, tad was a g*c*>t> burden, but the bena It Was net oes4s*A te> Soutn Carolina. Che policy Which I succeeded In get Mosfiale* to Inaugurate, and question so 1 Far as polities Is concerned. My re- ' ward was the charge on the floor of < \m eejeaH by my ?ttteague that I ha* ?old out for patronage. I a* vocated the principle of ship subsidy for an American merchant marine, and pointed out then what would happen to the South If there was ever a Eu? ropean war. I wag the first man in high public office la this State to point| put aad oppose the Democratic party following Mr. Bryan In his erroneous views est taw nee Bead the platform of the party today and see whether my vlsws have prevailed or pot. "In the present campaign there was not a Candida??' for governor la the Hold who suited me. I begged you to rag on the kidustrlal issue, and of? fered to run for governor myself If you would run for lieutenant govern? or. When It was narrowed down to Blesse and Manning. I supported Blease. and would do v ? ass In under simitar circumstances, by *v I knew that \ could de-vclou the, warehouse snwteon and. ?sense a rural credits measure with Blease and that I could never move a peg with Manning. When I made up my mind to fight for Blease I did not do It In a half heart? ed way. and I bslieve right now that If 1 had not? got sick and had to spend a month in the hospital, but could have continued my canvass of this Stats, that ws would have won the ngh% on the fret ballot. However, what is to be will he* and I am not crying over spilt milk. "Senator Tollman refers to a letter I Wrote Mr. Archbold, Whips ho con [?trues Into asking for a campaign I contribution, when he and I resigned to fight It out 20 years ago. I have explained In the public prints the en umstances under which thin letter was written, and, so lpng as my con? science Mr clear I care little what any one else thinks of me. I might re? ply to Senator Tlllman by calling at? tention to charges of corruption against him. which ho hus not nn<1 can never satisfactorily explain. This II will not do, because he can not I help acting as be did in this cum lfalgn. He began l|fe as a chuructcr j assassin and reputation thief, und even now, when in dread of dcuth l;o Is trying to be a better man, re? verts to his primal instincts. "I sm Interested In the material progress of South Curnlina. I he* lleve thai good government an 1 civilization follow in the wake of prosperity. It mutters not uhout me; Blease and Tlllman are minor inci? dent* about which I care naught politically, except as they further or retard what 1 am trying tu make my -ftfe. work. "The State warehouse system has' "1. Demonstrated how easy it is to transform cotton into a negotiable security. "2. It has established a new fact la economics, to wit. that you can valorise products within certain limits by giving them special privi? leges as a collateral. "3. After the failure of the Wade plan, it - pointed out |he true way to make effective the fsjde*4 reserve law on commodity loans. I have on ule hi this office letters from the president of the United States, the secretary of the treasury and the president of the federal reserve board lu Washington, which amply confirm these statements. "If wo never take another step, the State warehouse law hus done more for the people than all of the self-seeking, mouthy politicians In South Carolina have accomplished since 187?. If I felt that my pres? ence here was an absolute necessity, I would smother my natural feelings of indignation and continue to sacri? fice myself, but I think that I now have the system where a good, sensi? ble man can run It upon Its pres? ent basis of furnishing a collateral, (f there is any further attempt to develop it. I stand ready as an out? sider, to do all\ln ray power to as? sist whoever may be In charge. What it needs now Is: "1. licensed graders. "2. Direct sales. "S, To become self-supporting. 'The Insurance, properly handled by the legislature, can be made to support the system and furnish aid in establishing direct sales. Few realise, the tremendous profits made upon Insurance. We have paid out around $80,000 in premiums, while the losses during that time amount to only $1.107. The system should be i authorized to carry, at first, as much 1 as l.Oflo hales In one place, and a reserve fund established from the premiums to meet losses. Cotton in excess of 1,000 bales could be re? insured on the same plan that I am forking it now Or the State might become co-Insurer and divide the premiums with the same companies ' chat are now carrying our cotton or > Hhers with which arrangements 1 night be made. / i "There is one thought in connection < with licensed graders to which I call j jour attention. At the time the State, warehouse system started, there was 1 * io federal law upon the subject of i t trades. If we adopted the standard! prades et the, department of agxlcul-l iro-nnd sew th>j tfrgr??*? ?"fr^<|1 other through federal or State lew, 1 vith 'proper supervision the South] Carolina grades would soon be firmly I \ istabllshed, and the certifications of hose graders make the receipts pass ; mrrent In the money markets, or with ] he federal reserve bank. Then the | portion of the act guaranteeing grades I %VM weights could be repealed, thus I, relieving the State of this contingent I , liability. It was necessary at the time, I ' in order to get the State warehouse I system started, but if this other planl will work there Is no need for the state to rurf this chance, If the receipts , will pass without It. '?There is another thing: I think!, that tlvo members of the State Ware? house association should establish a farmers' bank to handle our receipts, and to* accommodate the small State banks and enable them to compete, in discounting receipts, with the national banks. I do not mean that this bank I should bid for deposits, or do commer? cial business in any way at all, but merely handle paper eligible for dis? count at the Richmond bank. If the I small State banks were thoroughly! alive to the situation they would see that this was done. "No"', I wish to say a word about the price of cotton. We are in the midst of the greatest inflation of mon? ey and credit that has ever occurred In the history of the world. It is duo to the war. I think that perhaps this has had as great an effect on prices as a short crop-?I will try to put It clear? ly so that our farmers can under? stand It?the tlrst step Of the allies was to declare a moratorium. Then when the attempt to resume specie payments was made, the decline in I foreign eXOhange between this coun? try and Europe threatened to become prohibitive of all trade, England tried to sustain the exchange value of the pound sterling by selling back the| several billions of dollars of Ameri? can securities held abroad. "The demand for war material and foodstuffs, however, was so great that within two years America has bought back nearly all of her securities held abroad, has loaned England and France more than $1,000,000,000, and has a balance of trade on top of that of more than $2,000.000,000. These sums, ho tremendous that the mind can hardly take It In, were not paid In money, but In the way of a credit in the purchase of supplies In this coun? try. The trade balances are no longer seltled In gold, but in credits based on products. If this be true, then the United States has made herself a party to the European Inflation caus? ed by tiic war. Is a time coming, a long way*, pff, when, just as has occurred after e?ery war li history, there will be an effort to reduce an Inflated cur? rency, and prices of products will go down lower and lower until the bot? tom is reached. But until that time conies the trend of prices for prod? ucts is upward, because products will grow dearer as money and credit grow cheaper. The -general public has a dim idea of this technical situation. No cotton mill will contract for fu? ture delivery on a basis under 16 cents. ? Twenty cents a pound for cot? ton if .the present crop were 15,000, 000 bales, would be no more, with the money situation as I have stated, than ll> cents in 1913. /'With a demand for 15,500,000 bales ^f American cotton, and a crop whlch/*I do not believe will turn out over 1^,00.0,000 bales, with Europe bare of Stocks of raw cotton, and its goods?practically consumed, where should cotton legitimately go when peace comes Of one thing I am ?jure; Inflation of money, easy credit, and the spirit of feverish speculation will put cotton as much too high as it has been too low. Wiping all this out, it is easy to demonstrate that' cotton, compared with everything else, Is worth 25 cents a pound today. Here ' ts what our people should do: Let the speculators sell the paper cot? ton. The more they sell, the higher it will -go, when they run to cover. "Let the farmer sell as slowly as possible and when the mills demand the astUal cotton on these paper con? tracts, a man can get almost anything he chooses or asks for spot cotton. This, is the way to recoup the losses of the bast few' years. If we would hold cotton off the market 10 days It would g* above 20 cents. Then it would be lust a? easy for tt to range from 20 cents upwards as from 16 cents down, for nobody will sell cotton under 15 ?ents, under present conditions, ex? cept ftom Ignorance. When the Oc? tober report shows that the crop is ?ractlcaiiy gathered, and the shorts ?tart to cover, there is bound to bs a damped*. When this Is over, the vorld must face the inexorable logic hat the) price of cotton must go up to t point where the consumption will >e curtailed. Let any man ask him? self the* question, Where Is such a >* loint, when war Inflation makes noney'aid credit cheaper and ever iheaper.'' ft Teaj^tts a standard make piano Till. tells for 1180 at the Wreck Store, on erms^Advt. No. 90* wtll cure Chills and Fever. ?LEA?tS URGED TO LEAD BOLT. Charleston American. ColuJmbla, Sept. 17.?The meeting of he ?jtafe Democratic executive com nittee here at noon on Tuesday is jeing looked forward to with intense nterest, and there is a great deal of ?peculation as to what action may be taken by the friends of Former Governor Blease, in view of the mass )f proof which has been pouring into his office as to fraud and corruption ;n the conduct of the second primary, There are insistent demands from Blease. leaders all over the State that tome action be taken by the former governor; but he has so far maintain? ed silence in the matter, contenting himself with the statement, which he gave to The Charleston American, that he would not announce any course of action to be taken by him before the meeting of the commit? tee. The Blease-MeLaurin club, of Abbe? ville, at a largely attended meeting held In Abbeville lost night, adopted the following resolutions: "Whereas, in view of the fact thatf the late primary election was perme? ated with fraud and debauchery of the electorate, we, the Blease-McLau rin Democratic club, of Abbeville, S. C, In meeting assembled, do resolve, that in all law and In all lands evi? dence of fraud vitiates all contracts; therefore, upon the prima facie evi? dence of fraud that has been prac? ticed by what is termed the Manning ltes, It Is the sense of this meeting that In effect the second primary, if arbitrarily sustained by the State; Democrat^ executive committee, is null , and void, and has no binding force or power upon the electorate. "2;tid. That our leader, Cole L. Blease, be and is hereby requested to place whatever evidence he may have showing fraud, beforo tne State Dem? ocratic executive committee next Tues? day, for action; and, if no action is taken on same, then that Cole L. Blease is hereby requested to go to the general election as the regular Demo? cratic nominee for governor." The other requests made of the former governor, coming from every county in tho State, have been as in? sistent. Mr. Blease is calmly considering the evidence that Is coming into his of? fice; and the fact that ho has made no statement, and will not do so be fore, tho meeting of the committee, has' increased the speculation und the I inttnsot Interest. Nu. 10600. REPORT OF TIDE CONDITION OF The National Bank of South Carolina, at ftusatev, In tha Statt of South Car? olina, at the ( lose ot Business, ?eptember 12, ISIS. ItESOURCIiS: a Loans and discounts (except those shown on b).$737,320.! Deduct: c Notes and bills rediscounted.67,750.1 Overdrafts secured, $9,149.58; unsecured $548.81 U. S. Bonds: 1. 2. 8. .23 .55 6*9,56S.6S. o.lOM* telaa a U. Si bonds deposited to secure circulation (par value).50,000.00 Total U. S. bonds. 50,000.00 4. Bonds, securities, etc: 4. e Securities other than U. S. bonds (not includ? ing stocks) owned unpledged. 5. Stocks, other than Federal Reserve bank stock . 6. Stock of Federal Reserve IBank (60 per cent, of subscription)..,. 7. a Value of banking house (if unencumbered) .. . 8. Furniture and fixtures. 10. Net amount due from Federal Reserve Bank . . 11. a Net amount due from approved reserve agents in New York, Chicago, and St. Louis. 24,424 b Net amount due from approved reserve agents In other reserve cities. 10,287 12. Net amount due from banks and bankers (oth? er than included in 10 or 11). 14. Other checks on banks in the same city or town as reporting bank.. ..., 15. a Outside checks and other cash items.1,151.39 b Fractional currency, nickels, and cents. 820.71. 16. NotesNof other national banks..... 18. Federal Reserve notes... 19. Coin and certificates. 20. Legal-tender notes. 21. Redemption fund with U. S. Treasurer and due from U. S. Treasurer. . ,.asj, 6,080. t? 3,600.00 ? ? ? 9,750.00 38,182.77 4,6ta>6? 0,662.75 82 03 34,7ll.S6 32,862.1* 8 1,260.03 1^72,16. 3,880.00 1,04 6.00 12,282.46 20.0.00 1 * ' t *? 2,500.00 Total. $890,603.07 25. 26. 27. 30. 33. 34. LIABILITIES: Capital stock paid in.,. ?Surplus fund. a Undivided profits.$48,297. b Less current expenses, Interest, and taxes paid 4,052. Circulating notes outstanding. Net amount due to banks and bankers (other than included rn 31 or 32). Dividends unpaid. . .$200,000.00 125,000.00 64 09 44.244.66 W.t.00.00 Demand deposits: a. i 35. Individual deposits subject to check. 36. Certificates of deposit due in less than 30 days.. 37. Certified checks. 38. Cashier's checks outstanding. Total demand deposits. Items 35, 36, 37, 38, 39, 40, 41, and 42 ,i.204,846 Time deposits (payable after 30 days, or subject to 30 days or more notice): 43. Certificates of deposit., .. 45. Other time deposits. Total of time deposits, Items 43, 44, and 45.. ..226,150 49. Bills payable, including all obligations represent? ing money borrowed, other than rediscounts .. 73 90 16.27t.?1 84.00 178,630.08 26,036.08 26.00 262.87 1 36,639.01 180,510.19 25.000.00 Total. $890,603.97 54. Liabilities for rediscounts, including those with ? Federal Reserve Bank .. .; .... 6.7,760 55 tTATB OF SOUTH CAROLINA, County of Sumtcr, as. IT "H. *L. ~%cCoyr C?sKUr of W dUUVIsasni^d UFJga. Ju ttXtmnTT swear that the above statement is true to the best of my knowledge and be? lief. H. L. McCoy, Cashier. Subscribed and sworn to before me this 18th day of September, 1016. R. L. Edmunds, Notary Public. ihr Correct Attest: C. O. ROWLAND, ISAAC SCHWARTZ, R. J. BLAND, Directors. i I i ,i i,i i a j j y iu:) mi ,n The National Bank of South Carolina $950,000.00 LEADERS Our steady growth and new accounts the story. Safety and preBarednew fff9t and at all times! Your patronage solicited, - ? c. 6. ROWLAN d, ^Pfss H. L. McClY, Acting PathV. Do You* Own Farm Property ? You have always wanted lowtir rates. You and your neighbor have cried aloud for cheaper insurance. You can act with a wonderful degree of butiuess judgement and at the same time build up a Home Industry that conserves ssfely, fairly and get results if you will but lend your co? operation. Before you renew your Fire Insurance Pol Lei es, gat in touch with our representative and talk it over. A Home Association, managed by conservative business men, can be successful and save money for its members, if the owners of Farm Property wijl carefuily investigate j The Farmers' Mutual Protection Association Of Sumtcr, Clarendon and Lee Counties \ I The Sumter Trust Co., Agt \ SUMTER, S. C There is a Director iu your Township.