The watchman and southron. (Sumter, S.C.) 1881-1930, December 23, 1916, Image 4
Cty flaalc^muii anb Southron.
rnhttshsd W?U?HkU7 nud BfJijff,
?BY?
ORKEN PTJBLi?Hl.lQ COMP ANT.
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lift 9? BMBBB I? advaaoe,
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DM IfMM trtt Insertion.11.06
?my anbasquaut Insertion.SO
Oes tracts f#r three moot ha, or
Xeeget will ha Binde at reduced rataa
AH saensaaaloatloae which irub
?arre private tataraata will ba ohaj-ged
aar en advertseeaaeat*.
Otitaartee and trtbataa of reo pact
?111 ne olenrgnd far.
Um ?master Watabsann was found*
en In 1IH and the Tree Southron In
MM* The Weteaa&a-t and Bootliron
fsrw |na the ansahlned otrenlnflon and
Mansion ad hath of the old papers,
Mai H nuntfasUy the beet advnrtlslnf
The deficit of the National Demo?
cratic campaign fund has not been
made up and contributions are dill
being called for. Mr. Daniel C.
Hoper of this State, formerly assist?
ant postmaster general, and a mom
bar of the National Democratic Cam?
paign Committee, has appealed to the
South Carolina members of congress
to raise 97.000. ths balance of the
amount apportioned to South Caro?
lina, before February 15th, so that
the debt of the Democratic party may
be paid In full before President Wil?
son Is relnaugurated on March 4th.
Bach of the seven congressmen is
asked to raise $1,000 In hie district.
Mr. Lover has sent a copy of Mr.
Roper's letter to each newspaper In
the Seventh district with his endorse?
ment of ths appeal to loyal Demo?
crats to do their part to assist In
promptly wiping out the campaign
debt of their party. The appeal is pass?
ed on and put up to the individual
Democrats. The debt Is dv.e. It engt
contracted for tks legitimate neces?
sary expenses of the campaign to re
elect President Wilson, and It should'
be pa d. Every Democrat who bo
lleves In the policies of his party xnii
voted for Woodrow Wilson owes a
part otf It It should not be difficult to
raise H 1.000 in the Seventh district
It woe Id be easily and quickly raljed
if every Democrat, who Is able to
contribute |1 ??r $6 without mbndng
It, mould make his contrlbu ton
pmmitJy. Contributions are still be
who wish to mako contributions may
send their checke to either plac?.
nan
High prlcee of the necessities of life
cause considerable financial dlsttoss,
but the primary and principal cause
of the unusual complaint of bard
times and the high cost of living is
the effort of the family whose income
Is, sei. $1.000 a year, to live aa well,
or, perhaps, a little better, and to
have ill the comforts and luxuries md
eomforts of life that their friends and
neighbors of twice that Income enjoy
and d splay. Living beyond one's
means, lack of thrift and needless
waste In numberless ways are the
things that cause high prices to
pinch so hard. The cost of high liv?
ing ard careless waste causes more
anxiety and dlstross In the majority of
caaee '.ban the high cost of ths actual
necessities.
THE VALUE OF COTTON.
The violent fluctuation of cotton
futures during the past few weeks is
a purely speculative performance, the
result of calculated manipulation by
those who And an "active" and ' re?
active" market profitable.
The short crop, the constantly grow?
ing demand for cotton, with con
sumpt.on by mills euch month show?
ing a gain over previous months and
prevlojs years, forced the price
steadily upward from the compara?
tively low level of last year to a
point ?here cotton was se'ltng ou the
open market at something approxi?
mating its real value. In comparison
with prices-current of other .-taple
commodities?wheat, corn, coal, stoel,
Iron, leather, parking house products,
etc.
The Immediate and prospective de?
mand was ho groat, and the supply so
short, that the market got beyond
the control of the professional traders
and price-fixers of the future ?MMflCtt
and tlie price advanced from the
price-level to which the traders future
thought It should be limited to
\wthin measurable distance of its
real worth to the manufacturers who
buy and sell reul cotton.
There was eager and sustained
competition In the spot markot for
all the cotton that came Into sght
below twenty cents, for the mills,
with an ever widening market for the
manufactured product at any price
fixed by them, were making every ef?
fort to secure supplies of cotton to
cover their bona fide contracts for fu?
ture delivery of cotton goods
The mills have been running full
time, over-time and with double
shifts of hands for months, and Still
this output baa not kept pace with
the demand and they are sold months
ahead Thev have Hold goods for in
ture delivery at high prices on a
hungry market and they must have
the cotton to make good these con?
tracts.
Their profits are certain, for their
selling prices were based upon the
certainty of higher prices for cotton,
as the result of the short crop, the
increasing demand for cotton goods
and the inflated conditions existing (in
all lines of business. The greatness
of their profits was limited only by
the amount of cotton that could be
purchased at comparatively low prices
before the cotton producers realized
the situation.
To cotton farmers, who could
find no sale at ten cents for their cot?
ton eighteen months ago, fifteen cents
seemed a big price this fall and they
sold freely as rapidly as they could
get it ginned and on the market. But
the demand was so great and the
competition so keen among the buy?
ers for American mills and for export
that the price was forced upward
cent by cent to the twenty cent level.
If the farmers had been as well in?
formed and as well organized as the
situation and could have fixed the
market price themselves. But being
neither informed nor organized the
mills profited by their ignorance and
on all the cotton purchased early in
the season they have a tremendous
profit assured.
They paid up to twenty cents h
pound and there was no break in the
upward movement until the twenty
cent level was passed and the sin?
ners' report showed an excess of two
hundred thousand bales above the
minimum estimate of the government
crop estimators. Then the organiza?
tion and cooperation of the mills and
the professional traders got in its
work. The buying support was with?
drawn from the spot market and the
bear speculators hammered the future
market for a11 they were worth.
Gamblers, pikers and bucket shop
traders everywhere were either wiped
out or made frantic haste to unload
their future contracts, so as to save
some of tfcetr paper profits; and the
bottom waa sat of the future market.
Thus, as asserted at the outset, the
existing situation in the future mar?
ket is clearly seen to be the result
of speculation, and is illogical and
unnatural.
Cotton is worth no less today than
it was three weeks ago, the supply is
no larger, the estimated total crop is
only a trifle greater than the previous
tfW'l Ai mm in f mar days oon
demand has not fallen off. The mills
are still sold months ahead, they are
still running overtime and production
cannot catch up with the demand for
manufactured product; consequent?
ly the mills will need and must have
all the cotton that will be available
until the next crop comes on the
market. Therefore, the holders of
spot cotton should not catch the in?
fection of tho panic that now pos?
sesses the future gamblers, who have
been trying to get rich quick on a
shoe-string.
Cotton at twenty cents is not only
not high, but is, to the contrary, in
comparison with other great staple
commodities, the cheapest thing in
the World. Cotton to be on a parity
with other staples should be selling
today at more than twenty-five cents.
If the unsold remainder of the crop
could be held, on the farms or locked
up In warehouses for a month or six
weeks and not a bale turned loose, the
owners of this cotton could fix their
own price?provided they doled it out
to the mills slowly and miserly and
only as the mills paid the price de?
manded. ?
It Is a matter of common knowl?
edge now, and it has been stated
more than once by so well informed
authority as the Wall Street Journal,
that the mills need, can spin at a
profit and must have all of the cot?
ton available from this crop, and
that, at the present rate of consump?
tion, the world will be on the verse
of a cotton famine before the crop of
1111 is on the market.
In these circumstances, why should
those who are holding cotton be?
come weak-kneed and panicky? Mon- j
ey Is plentiul, cotton in a warehouse
is gilt-edge collateral, and, thanks to
the Regional Reserve Banking Sys- i
tern, Interest is low; which conditions
I render the South independent of the
Wall Street banking trust that once
blocked every attempt to linance and
valorise the cotton crop for the bene?
fit of the South and the producers of
cotton.
If the demand for cotton goods was
slack or uncertain, if the mills were
?hut down or running without orders,
then there would he cause for appre?
hension. But the crop is short, the
demand great, the mills havo sol 1
their output for months ahead, and
they have got to have all the cotton
there is at some price. So why not
hold fast to the unsold cotton and
exact a price approximating its real
value, in comparison with the prh M
current of other staple commodities
and necessities? Let the future mar?
ket skyrocket up and down as much
and for as Ions a time as it muy
please the future market traders to
continue the performance. That can?
not effect real cotton, so \m\k :>*; it
mills, they could have
is kept in warehouses, and the mills
cannot spin futures?they need the
real article. Bear that fact in mind
and do not be influenced by the anitcs
of the New York cotton exchange to
imagine that it has lost 2 or 3 cents
in value within ten days. If the mills
could afford to pay more than twenty
cents for cotton two weeks ago thoy
will be able to pay twenty cents or
more next month or the month af?
ter. An estimated increase of two
hundred thousand bales in the total
prospective crop could not knock two
to three cents from the value ct
cotton. Mills that bought^^enty
cent cotton a month ago afW?' still
selling cotton goods on a twenty cant
basis and they will continue to sell on
that basis until another big crop is
produced to make the supply exceed
the immediate demand.
Those who own cotton occupy an
advantageous position and should
make the most of It, although thoy
have to play a waiting game and must
taks some risks, for, of course, there is
a risk in every waiting game.
ROBERT E. GONZALES.
The death of Robert E. Gonzales, of
the Columbia State, at the age of 28, -
is a loss to journalism and to South
Carolina. The striking individuality
of his work as a paragrapher and its
uniform excellence had won him a
national reputation and his future was
bright with promise. All who read
The State are saddened by his death
for they had come to look to his col?
umn for a daily portion of wit, wis?
dom and good natured satire. He
was cut off in the flower of youth
with his life work only c?t its begin?
ning, but he had accomplished much
already and what he did was so well
done that he had made his mark, up?
on Journalism in South Carolina. His
influence and inspiration will r ot soon
be effaced.
TOWNSHIP ROAD BONDS.
The proposition advanced by May?
or L.-D. Jennings and endorsed by
the Chamber of Commerce, that an
i.et be passed by the legislature au?
thorizing tho several townships of
Sumter county to issue bonds for the
construction of permanent highways,
is a matter that calls for full investi?
gation and mature consideration. The
passage of the act can do no larm,
since the bonds cannot be issued un?
til authorized by vote of the qualified
? vi? auviiviiavu ? wv> v/l vuc ^uiu.tiv^t ,
LdagtauM^J?nijghen it cornea to calling.,
Uhe Ue?Tloir ?nd~mr^g~To issue sever-*
a! million dollars in bonds?several
million dollars wuT be required to
pave all the main public roads of
Sumter county?no hasty action
should be taken. If the proposed
roads can be maintained, the Interest
paid and a sinking fund provided at
an expense that will not be burden?
some, then It will be wise to issue the
bonds, but if the property owners
will want indubitable proof of this
fact before they will assume the
added burden of taxation that the
road bonds will impose upon them, j
CHRISTMAS GREETING.
We extend to our friends every?
where, to whom these greetings come
our best wishes for a happy Christ?
mas, attended by all the joys and
blessings of the season. For all the
readers of this newspaper we have a
real and personal frendship and we
sincerely wish that the joys of those
who are happy may be increased and
that those who are In sorrow and af?
fliction may be comforted. For the lit?
tle children to whom Christmas Is a
season of mystery and Joy and hap?
py anticipations, we wish the realiza?
tion of their hopes and stockings fill?
ed to overflowing by kindly Old Santa
Claus. May God bless and keep us all
safely through the coming year.
TO RECLAIM LANDS.
1 'ititcd Stuten Engineer Engaged In
Making Survey of Big Drainage Dis?
trict on Black River.
Salem, Black River, Dec. 19.?S. W.
Frescoln, drainage engineer of the
I'nited States department of agricul?
ture, is making a survey of the Black
river drainage district comprising the
Dabbe-McBride lands of about 6,000
acres. Other thousands of acres to
the south and north of this tract may
l?e surveyed later, This tract occu?
pies a table land hetween the waters
of Black river and Pudding swamp
that will make it easy to drain; as
much as 1H foot fall being found to
tho mile in parts of the tract. The
Sumter and Turheville railroad will,
w hen built, traverse these lands from
east to west, a distance of seven miles.
Part of the development scheme is to
lay out new public roads, one of which
will be the main road from Sumter to
the growing town of Turheville in
eastern (Marendon county, which will
shorten the distance between the two
places live or six miles, and then to
offer tracts of 50 to 200 acres front
ins these main roads to Turheville and
Hhtloh from Sumter to white settlers.
Tho Shiloh-Trinlty road was located
and built two years ago and Is a popu?
lar route for automobiles from Flor?
ence to Sumter. J
W hen the survey is completed Hr?;
MOORE DEFENDS THE GUARD.
THE ADJUTANT GENERAL COM?
MENTS ON STATEMENTS IJY
GENS. SCOTT AND WOOD.
Says Tlint Militin Companies Came
1 Nearer to Having Full Quota of Men
Than Regulars?Does Not Believe
Militia System Will be Abandoned.
Columbia, Dec. Adjt. Gen. W.
W. Moore, feels that the statements
of Major Gens. Leonard Wood, com?
manding the Department of the Bast,
and of Hugh L. Scott, chief of staff
of the United States army, that the
National Guard is a failure only pre?
sents one side of the picture and
measuring the regular army by the
same ward stick the South Carolina
adjutant general thinks that it is
much more of a failure than the Nat?
ional Guard, and he does not agree
that the guard ia by any means a
failure. He thinks that Gens. Wood
and Scott and other regular army offi?
cers took the stand in the beginning
ithat the National Guard would prove
a failure and they are refusing to
{change their position because of their
prejudice against the guard, and thus
I are justifying their ow n predictions.
I The National Guard regiments were,
inearer the quota of enlisted men than
the regular regiments, said the adju?
tant general, and still the regular
army officers are always talking about
the quota of men in the Guard regi?
ments. He says that figures will
show that there are many companies
in the regular army with as low as
forty men and some even smaller, but
Gens. Wood and Scott never said any?
thing about them. He pointed out,
too, that the new defense act had just
gone into effect and that the National
Guard had not had time to be tried
o?t before the call came for them from
the president. Also, he said, when the
call came the citizens began enrolling
promptly, but it was soon apparent
that they would not be needed for war
but only for patrol duty on the border
and many men did not feel that the
'occasion called for the sacrifice which
they would willingly have made if
war had been imminent and therefore
the enlistments dwindled. He also
mentioned that the regular army offi?
cers took the recruiting out of the
hands of the local companies and put
lit in the hands of people who were
i not in sympathy with the Guard and
I cared nothing about it.
The adjutant general pointed to the
^{^TfecSrd wlacfi .tlie isarcir/rjra^ c?^jui.
hud made on the border from the re?
ports of the regular army men and
many of them are not in sympathy
with the Guard and are secretly If not
openly hostile to its continuation.
This record, in the face of the unsym?
pathetic attitude of the regular
army, thinks the adjutant general,
proof enough of the efficiency of the
Guard.
If universal military training is
necessary for the National Guard,
then what is the matter with the reg?
ular army, he asked? The regular
army can't get the recruits sufficient
to bring them up to the required
strength and their companies on the
average are lower in enlistment than
tho National Guard companies, he
stated.
Another matter which he mentioned
was that the regular army is for pro?
fessional soldiers and those who go
into tho National Guard do so from
patriotic motives and are not attract?
ed by any desire to make a living as
is the regular army line and crowd.
Gen. Moore and many of the Nat?
ional Guard feel that the regular army
authorities, or many of them at least,
started out to make the National
Guard a failure because they were op?
posed to it from the first and that they
have refused to give it justice. They
have on every occasion rushed into
print with condemnation of the Guard
and charging it with lack of efficiency
and yet the general believes that man
for man and considering the situation
as between the professional soldier
and the citizen soldiery the Guard Is
more efficient than the regular army.
In plainer words he and many others
feel that the regular army needs more
attention right now than the Guards?
men.
Gen. Moore does not believe there is
any danger of abandonment of the
National Guard, even though the high
army officers are lighting it. He
thinks Secretary Maker will sec that
It is given a square deal and a fair
chance.
nals and ditches staked out, maps
and excavations calculated, construc?
tion will begin, probably about
March 1.
Hartman Gamble has bought the
S. D. MoBlveen place on Pudding
?wamp and will move there January 1
s. J, Blackwell will move from Col.
It. M. Cooper's "Dick" plantation Jan?
uary 1 to the Thompson place near
Dalsell.
D. w. Goodman will take Mr. Black
well's place on t lie "Dick" planta?
tion.
A. J. Pringle has leased the Mc
Bride winter place farm.
Tho Misses Warren will move from
the MeP.rido winter place t?? th?> Me
?hie summer place on January i
\ To The Planters
[ of Sumter County
We want you to call upon us before you
buy your Fertilizers this season.
We can and will save you money.
Fertilizer materials are higher propor?
tionately than mixed goods.
It will pay you to talk it over with us be?
fore you buy.
Respectfully,
HARBY & CO., Inc.,
SUMTER, S. C.
:titii?!>i;???i!!i?in?i?initM?MtfniK?n?ti>iii?yMmm?i??nmii
Your Boy's Xmas Gift?
Last Christmas his father gave him a Bank Book with a de?
posit in it of $10. Today he has in his account $178.50?every
dollar besides the interest he earned himself. He is 14 years old.
Before last Christmas he had never put by a dollar. Let's start
your boys with Christmas Accounts thie year. $1?$5?$10 does
it. May we make them out for you?
THE PEOPLES BANK.
We pay 4 per cent, interest in our Savings Department
frrm.TrmmiiimmHtmiuiH
The Best Argument in Favor of
Our 1917 Christmas Savings Club
is that practically all of our 1916 mem?
bers have joined the new club. T&cy
know by experience that it is the best
and easiest way to save a specified
amount each year and get interest on
their deposits from date.
Why not pay your InsuianGe Premiums by
This Savings Fund?
For instance, if your annual premium
amounts to $100.00 then take out a
card in the $2.00 a week class?When
pay time comes there is no worry, you
have it all ready.
THINK IT OVER
The National Bank of
Sumter,
SUMTER, S. C.
"Where Your Savings Grow/'
um * n year
EXCURSION FARES
Between all points on the
Atlantic Coast Line
The Standard Railro.\d of The South
Also to practically every point in the Southeast, including Wash?
ington, Cincinnati, St. Louis, Memphis and New Orleans. Tickets
will be sold
DECEMBER 20, 21, 22, 23. 24 and 25.
Limited returning to reach original starting point by or before
Wednesday, January 10th, 1017.
Uon desired call on reservations and any further informa
For schedules, Pullman
O. V. PLAYKK, Ticket Agent, Sumtor, S. C.
im:nnu:i:nnn:n:mtn:in:ntunmxn:i:m:::n:tnt::::n:::i:tim:nmmm$m$mm