Newspapers / The News-Herald (Ahoskie, N.C.) / April 21, 1922, edition 1 / Page 8
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SOME BUSINESS PRO BLEMS OF TODAY (Continued from page S.) market their cotton and other prod ucts over a period of twelve months instead of five or six months as here tofore. To supply this long time export credit, the War Finance Cor poration Act was amended in March 1919 by giving to the Corporation, power to finance exports on long time, by extending credits to American ex porters direct, and V? Banks which had financed exporters. ,, Considerable amounts of money wg$t advanced to finance the export r various domestic products, partic ularly agricultural products. Per ' haps the most important operation was the aid which the Corporation gave to the bankers and exporters, including marketing associations, in connection with the export of cotton. Advances were made not only against cotton actually under contract for ex port, but against cotton held heye awaiting export or stored in ware houses abroad awaiting sale. The Corporation for thf first time in the history of great financial op erations gave direct assistance to American producers themselves upon ' a large scale, to enable them to carry their cotton for orderly marketing over a long period. It agreed to ft- ' nance the export of nearly 1,000,000 ' bales in aiL As soon as it appeared that the ! cotton crop would be adequately fi nanced confidence was restored and the demand both at home and abroad ' was immediately revived. The price ' of middling cotton rose from 9 cents in June of last yehr to 20 cents in ! October. Large advances were authorised for ' the export of other agricultural prod ucts, such as wheat, dried and canned fruits, vegetables, tobacco, condensed milk and meat products. Aid Extended for Domestic Business During the last summer and fall the prices of grain, particularly corn ; and oats, as well as the prices of cattle and sheep in the Middle West and the Far West were extremely low. On August 28, 1921, Congress amended the War Finance Corpora tion Act by enacting the so-called Agricultural Credits Act, whereby the Corporation was empowered to ad vance money to banks, bankers, cattle loan companies and co-operative marketing associations, which had made or would make advances to farmers and livestock producers, for the purpose of producing, harvesting and marketing crops or for breeding and fattening livestock. The purpose of the Act was to enable the banks and the other institutions named to borrow money for a long time, to enable them to carry the obligations of farmers and live stocks producers for such length of time as might be necessary to avoid the sacrifice of their farm products and other assets, which would necessarily happen if liquididation were forced under the depressed conditions then existing. Immediately upon the passage of the Act, the Directors of the Corpora tion created an emergency banking system for the agricultural industry. Besides expanding in a large way the central organisation at Washington, 88 agencies were established in the important agricultural States to re ceive applications for loans and to make recommendations to the Board in Washington. Under the powers authorizing ad vances both for export and domestic' purposes, the Corporation to date has approved advances to banks and other financial institutions, cooperative as sociations and exporters to the ag gregate amount of approximately $300,000,000.00 Practically all of the money was loaned to the cotton, tobacco and rice producing sections of the South and the livestock and grain sectons of the west The Corporation, of course, is not authorised by law to make loans di rect to individual producers. Th< total amount approved for all pun poses in North Carolina is approxi mately $10,000,000. The banks oi the Piedmont and Western sections ol North Carolina have not availed themselves of the facilities to an] great extent Not over $1,000,? has been taken by the banks in thai section. The banks In this stati could perform a distinct service ai this time if they would more generall] avail themselves of the facilities nov offered by the Corporation and p*M i on to the farmers, many of whom an In real need of credit for producinf and marketing this year's crops. Of course, the real value of tin work done by the Corporation is no measured by the actual amount 01 money directly advanced for agricul ton! purposes in any one state. Th. benefit drived indirectly was fa greater than the aid directly granted This Is reflected in the genera! im provement in the prices of alt agri J-.-- - M cultural and livestock commodities in I the past four months. Sheep in the * western states which were selling at from $4.00 to $5.00 per head in Sep tember are now bringing from $10 to $1$ per head. Corn which was sail ing for 20 cents on the farms is now t bringing $4 cents. Cattle hare in- t creased in price from $10 to $80 per j, head. Wheat has advanced from 04 b cents per pnshel to $1.46 at the pre#- ^ ent time. a Loans have been made to nearly p six thousand banks and financial in- c stitutions in the agricultural districts h of the country. It is estimated that c several hundred thousand farmers n have received direct advances from these financing institutions either in Q the way of carrying their old oblige- c tjons or obtaining new loans to pro duce or carry their products and save h their assets from sacrifice. In one ^ case I recall a bank borrowed $80,000 and gave as collateral 100 fanners 2 notes ranging in amount from $6.00 j, to $800.00. Hundreds of thousands g of fanners who have received no di- a rect financial aid have nevertheless j received the benefits of the general a improvement of the credit situation tl in the rise in prices of agricultural j. commodities, due largely to the fi- Sl nancial relief, actual and potential, q extended in various ways by the oper- t, ations of the Corporation. p One of the most important ele- a ments in the work which the Corpora- is tion has already accomplished is the ft fact that thousands of small banks y in the agricultural districts through- pj out the country have been able to meet the demands made upon them, jr and at the same time to carry the a: obligations of their farmer customers, d due to the assurance that the redis- b count facilities provided by the War a: Finance Corporation were always a; available to meet any unusual demand ti that might be made upon them during & the time that they were carrying the p farmers' obligations. n It must be remembered, however, that the facilities provided by the ri Corporation were emergency in char- a aeter, set up to meet an existing cri sis. They should be ultimately dis placed by a permanent system of long time credit for current agricultural purposes _ The work of the Corporation has c at least proved distinctly that it is , possible to aid the orderly marketing b of the crops by adequate credit facili- t] ties, eqtending^over a longer period. a By the relief which it has been able " to afford in this crisis, it has empha- b sized the necessity for some perma- q nent system to take its place. Indeed, f I advocated as far back as 1912 a j permanent system of rural credits g which would do the work which the \ the War Finance Corporation has had \ to do under very adverse conditions j, in the present emergency. "j I am glad to say that several bills I are now pending in Congress out of t which I hope some constructive meas- I ores may be evolved. While the ^ \farmers have suffered tremendous J losses during the past two years, their plight has served to impress upon the 9 people of this country the necessity i of more sympathetic and constructive * efforts toward remedying the adverse 1 conditions with which the farmers have had to contend in the years that have passed. Undoubtedly, there s must be a system of marketing where- 1 by all agricultural products may be i marketed gradually and orderly over i a period of 12 months, instead of be? i ing dumped upon the market within < a period of a few months during or immediately after the havesting sea son. What merchant or dealer for in stance would think of forcing his entire stock on the market in a few months without regard to the demand or the prices he could obtain? The farmer after all is not only a pro ducer but he is a merchant when it comes to the matter of selling in the markets the commodities he has pro duced. He should be afforded equal ity of opportunity with the buyer so , that he may trade upon equal terms. > In conclusion, therefore, let me ? briefly abstract what I have tried to - discuss; that we,are today suffering 1 from over-stimulation of production f caused by the war; so that our pro I ductive capacity in mines, fields, and r factories are more than sufficient to 1 take care of our domestic markets; t and that the solution of our present ? day ills must come from extending t our foreign trade, and a more sympa r thetk and constructive attitude to r ward agriculture at home. If there t are two ideas I have expressed that i I should like most te be remembered I they are these?modern business is not national or international?it is I both; and finally, that just as no na 1 tion has yet existed politically with r out morality and religion as a basis, - no nation can exist economically with ? out an intelligent and prosperous ag ? ricultural population as its foundation stone. Xenaphon, the historian of ancient Greece, phrased it aptly when he said that "agriculture is the nun ilARKETING AND SALE OF TOBACCO (Continued from page 1.) ions we suggest, that they look into he propoaition which ia pending. A aw men are putting forth every effort 0 deatroy a aystem of selling leaf to acco which would if aucceaaful work aerioua injury to aome of the moat irogreaaive towna and citiea of the ountry, and at the aame time would urt the farmer, who wanta all he an get for hia tobacco, and who eeda it when hia crop ia cured. In concluaion gentlemen, what ia all 1 thla thing abc'ti any way? Here omes a man from California?crosa 3g the continent, 3,000 milaa, and aa e comes he could And in aome sec iona through which he came, corn be ig used for fuel, oat meal selling for 5 cents per bushel, potatoes rotting i the fields and farming conditions enerally bad. He leaves all of this I nd comes to where grazing is good. I ie lands in the tobacco producing edtions and proceeds to organize I tbaceo farmers, when in fact tobacco I i selling, and has for some time been i slling for good prices. Taking the j uality of the crop into consideration, . jbacco is selling this year for big j rices. Whenever a farmer offers ny thing that is at all desirable he I i satisfied. Then why all of this I ass about the tobacco farmer; Now j ou can find "the nigger in the wood- < ile." Mr. Poe, editor of the Progressive armer, tells you about what they * re doing in Canada and Maryland, oes he know that Canada produces ut little more tobacco than Stokes nd Rockingham counties combined, nd that the Canadian tobacco ia en irely different from our tobacco, .nd so in Maryland, the larger pro ortion of which is taken by foreign larkets. As we close this article we are sceiving letters and telegrams from U sections endorsing our position. - ? Tobacco Percentages Signed Up The entire crew of 60 men .sent at by the Wilson Tobacco Board of *rade, three days ago, to the prin ipal counties from which the tobacco rarebouses of Wilson draw their rade have all returned. An audit of heir returns have been made and as result of this audit, the per cent Signed up" for the "Co-Ope" is as elow. JOUNTY. FOB CO-OPS. Filson 5 and three tenths luplin 9 and five tenths lampoon 14 and sixth tenths dayne 18 Farren 17 and five tenths lash 18 and five tenths <enoir 19 ?itt 19 and three tenths ireen 22 "*' '? Sdgecombe 23 frnceboro section 10 ohnson 19 and five tenths Total 11 counties and Vanceboto ection canvassed averaged signed up or "Co-Ops" 16 and thirty-six one lundredths From Wilson Daily rimes, Aprril 18: . n V? Another year of high prices in our itate has served to make the needs of the orphanages greater, and the de mands upon these institutions for ad mission of needy children is increas ing. The Oxford Orphanage receives children without regard to denomina tion or fraternal relationship of par ents, the need of the child being the first and chief consideration, and is striving to do it part in meeting the increasing demands. Your presence at the concert will aid in this work and j will help to encourage the children, and friends who are working ih their behalf. n If you want to spend an hour of real pleasure, and at the same time help a most worthy cause, do not fail to attend the conceit to "be given by the Oxford Singing Class. ing mother of the arts." The world is sick?it is suffering from economic ill superinduced by the Greet War. So far the attempts which have been made to administer remedies which would eradicate or at least alleviate these ills have bfeen unsuccessful, because those who di rected the work have been actuated largely by narrow or selfish motives, political or otherwise. The natural result has been disagreement and lacV of progress. We need to substitute a new leader ship, to be composed of men whose line of vision is not confined to a single country; men who have com bined in them those rare qualities of conspicioua business ability aad broac statesmanship, which will enable them not only to choose the correct reme dies, but, above all to apply them fa the present situation, uninfluenced bj petty prejudice or narrow partisan ship. yf A Tonic B: a For Women S 2 was so weakened," writes Mr*. L Y\ W. F. Ray, of Easley. S. C. C "The doctortreated me for about f] M two months, still 1 didn't get W 1 M| any better. 1 had a huge fam- M U fly and felt 1 surely must do |y i X] something to enable me to take 12 2 care of my little ooes. I had f ?| beard of ICARDUI 5 The Woman's Tonic K "I decided to try It," coo- fi [W tinues Mrs. Ray . . . "I took | Ml eight bottles in all... I re- [M , M gained my strength and have M U| had no more trouble with wo- M < ? manly weakness. 1 have ten Ws 2| children and am able to do all K Tj my housework and a lot out- Qf FW doors ... i can sore recom- JR M mendCardui." M Take Cardui today. It may In M he lust what yod need. M W At all druggists. I? 50 I Reasons for Getting \X7ILLYS Light fires you fifty distinct ad vantages?every one is a feature you want, sbouTd have and can have when you get Willys Light. Every one of these im provements is a sufficient reason frfr buying Willys Light and only Willys Light?and there are fifty. We are only waiting a call or letter to show you all the fifty reason*. J. S. DEANS, Dwkr ?Col.r*in, N. C We ere doing oar beat to give jroa "A Paper Worth Whi le"?Help us by paying your Subscription Notic. of Solo Under end by virtue of the power end authority contained in a certain mortgage deed executed by J. H. Hal] and wife Ida Hall to J. C. Ben thall dated September 18, 1920, and recorded in the offlce of Register of Deeds for Hertford County in Book 94, page 472; the said J. C. Benthall, mortgagee, will offer for sale to the highest bidder for cash the followng described property, to-wit: Lot number 2 of the division of the late Hosie Re wis mrtate containing 11 1-2 acres by actual survey, said land lying on the public road leading from Horton Place to Aulander. Place of sale: In front of the Court House -door in Winton, N. C. Time of sale: May the 13, 1922, between the hours of 11 a. m. and 2 p. m. Terms of sale: Cash. J. C. BENTHALL, Mortgagee. i-14-4t n ? ? "?"V' DO IT NOW?SUBSCRIBE TO THE HERALD?$1.50 p?r ywr Notica of Solo Undar j u By virtue of the power TC author ity given in a certain mun ] go deed executed by A. E. Garrett and wife to J. H. Mitchell end which ie of record in the office of the Register of Deeda Of Hertford County In Book 64, page 374, the following property will bq sold at public auction,' to-wit; That certain parcel or tract bf land lying and being in Ahoalde Towship, Hertford County, N. C. bounded aa as follows: On the north , by the lands of Charles Jenkins'Aeira; on the east by the Step her/ Jenkins' heirs; on the south by .tpe Ahoalde Swamp; and on the west by the lands known as the Riddick lands. Same wpa formerly owned by T, C. Hayes, ? deceased, and ii put of the R. A. Hayes land, and contains 100 acres more or less. Place of Sale: 4t Court House Door at Winton, N. C. Time of Sale: Between hours of 12 m. and 2 p. m., Monday, May 15th, 1922. This 11th day of April, 1922. J. H. MITCHELL, Mortgagee. L. C. WILLIAMS, Atty. 4-14-41 LOAD UP The roads of this section are again in good shape, so why wait for freight and loose sale^ just drive your truck to our warehouse and load up. Our line is complete in every detail, and we are at your service at all times. Mr. Merchant: Stop right now and figure your freight bills, and you will at once see that it pays to buy from your near-by WHOLESALE GROCER We carry at all times, a large and complete stock of Heavy and Fancy Groceries, Linseed Oil, Lewis White Lead, Roofing, Nails, Etc., in Carload Lots We Solicit Your Business. Barnes-Sawyer Gro cery Co. Inc. Ahoslae, - - N. C. i- ? ' CANCERS SUCCESSFULLY TREATED AT THE KELLAM HOSPITAL The Kellam Hospital treats successfully Cancers, Tumors, Uulcers, X. Say Burns and Chronic Sores without the use of the knife, X-Ray, Radium, Acids or Serum, and wo have treated over 90 per cent of the many hun dreds of sufferers treated during the past twenty-three years. KELLAM HOSPITAL, Inc. 1617 West Main St. Riekmeod, Va. Taste is a matter of tobacco quality We Mate it u oar honat belief that the tobacco* tued in Cheiterfield are of finer quality (and hence of better taate) than in any other cigarette at the price. Ligfrtl tf Mytrj Teb+cc* C?. . V 'J* / i 20 lor 18c 10 I or 9c > Vacuum tint t of 50 - 45c ? Chesterfield CIGARETTES of Turkith and Domestic tobaccos?blended. '
The News-Herald (Ahoskie, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
April 21, 1922, edition 1
8
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