Newspapers / The Charlotte Observer (Charlotte, … / Jan. 27, 1908, edition 1 / Page 8
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8 CHARLOTTE DAILY OBSERVER, JANUARY 27, 1903. AX ADDBESS TO" FABMEBS rLE.v ron closer relations 3Ir. D A. Tompkins, In an Address to the 'ortli Carolina Cotton Asaocla llm, Sets forth the ia-U That tho Interests of the 1-arnvcr, the Spin- . nor and tlio Banker Are Mutual . Glimpse Into the rat Live Topics of Vital Interest, That Are Making History. Following I an address delivered by Mr. P. A- Tompkinsof Charlotte. Wnr the recent convention f the iv,.wh frnlini Cotton Association. inN this cltv. Mr. Tompkins subject w -The Farm, the factory and the . Bank:" t Nothing; could possibly be of great- -r Importance than tnat the interests of the farmer, the spinner and the banker are not antagonistic but are always one and the same and are as dependent upon each other as the dif ferent members of the body are Inter-dependent. Cripple the banks and both the spinner and farmer feels the Injury. It's so In eacn other case. Cripple any one of the three and each of the others feel It. One hundred years ago this was one of the richest sections ol tne tniiea States. There was a diversified man ifiMnrinr interest n the South At lantic States which surpassed that of any of the Northern States. Mr. mar ry Hammond, of Beecn Island, 8. C, one of the leading; farmers In the country, has pointed out that accord ing to the census of 1810 the manu factured products J)f Virginia the Carolinas and Georgia, exceeded, in value and variety, those of all the New England States put together. Many of the factories of to-day are built over the factory sites of that time. The Henrietta Cotton Mill Is over the site of a roiling mill. The High Shoals AIM stands where form erly stood one of the biggest iron works in the United States in Its day. There was made Iron and a great variety of products In iron such as plows, nails, very fine metal for rlile barrels and many other things. There are many other similar cases as at Cherokee Falls and Clifton in South Carolina. Iron was not the only prod-jet. There were manufactures of wool, cotton, wagons, carriages, hats, shoes. Some of these products were not what we now all factory pro ducts. The shoe maker was In the land and made r.H the shoes the peo rle wore and that's all the factories do to-day. COTTON IN 1820. In this condition diversified In terests cotton commanded a good price. For the first ten years of it production on a commercial scale If raffed in price from 80 to 40 cents. Ah late as 1820 the price had not fall en lelow It cents and the world too It willingly at tluso good prices. With wc',1 developed and correlated farm.', ffirtorles and banks the coniMtlon tC thu section was belter than that or I any other section of the United Ki;,.iei , But alas, our prosperous furetatfl rn tied up the fortums of the Hiuth Willi the institution of slavery. Laws bfe.troe more an 1 mvr fa ai-r.il s t.i eia-.e Jibnr and agriculture an.l 1cm and .-ess favoiaid- te minufac'.urc. hnd free whifs labor. Tills bi'i'ight about a constant mollne of ou." fac t try Interests. It developed a tide .jf white emigration to the than Nortli wi: Territories or Oh'.o. InHtna hni Illinois. From 180 o ISO Hie Slat" of North Carolina practically sto hi nl',1. In population nnrt wealth. Th i - development o. agriculture on a plan that dried up the factories and re duced commerce to the sale, of the few staple crops also brought a gener- . a I rondltlon that culminated In war succeeded by a disastrous period of reconstruction. Since the abolition of slavery and the decent government the people of the South turn at. once to the varied pursuits of Its ancestors. The old sys tem of having the entire population producing cotton reduced the price to h cents a pound and Impoverished. The new system of diversified indus tries haa drawn labor from farm to factory In relief of excess, competition on the farm and has at the same time created a consuming population for perishable firm, products that has, , wrought a woderful change in the . farmer's condition. None appreciates more than I do the value of the work of your organization n your own in terests and in the general Interests. Hut It would be a delusion for you to think that you have raised or had any Important influence in raising the price of cotton from 6 to 12 cents, ex cepting as you have, contributed and supported factory consrruction. The development of factories has drawn enough labor from the cotton fields to reduce the rapid Increase of cotton production. It has also made markets for perishable farm products like fruit, vegetables, chickens, eggs, but ter, milk and these now engage much of the time of tho farmer which was formerly used in the production of cotton. 2,500.000 bales cotton for ahlch she got 2 4 cents a pound, yielding ,. . 1300,000,000 In the second decade, ehe produced 5,000,000 bales, for which she got 12 cents, yielding . $300,000,000 Jn th fourth decade siie made 10.000.000 bales. for which Rile got II .rent, yielding $600,000,000 Msrk that In the mcond ami third dfcades the eror was doubled over thf. preceeding one and tho price cut one half. the fourth di;wdk. In the fourth decadw tin- production .remained the same and. the price doubled. What made this change in the fourth decade. It whs not lb farmers' organizations which did It but It was the development of facto ries, not only the cotton factories but 11 new diversified pursuits and the factory wage lift unr, factory popu lations'. In the first thn-- decades the cotton farmer was making a singl. hand d fight against countries having diverse manufactures. His burdens were doubled each ten years without getting a cent more for his extra work. Let none misinterpret what I ay as being derogainry of your or ganization or lis work. Tor I hold both In the highest esteem. Hut 1 do want to emphasize the statement that you should depend upon fostering and helping along natural conditions which alone can advance prices snri perma nently maintain ihcm and not. depend tipon rtsoiutlons to stimulate or main tain pricea Ton plan of spreading the sale of cotton throughout the year and not In three months In aa excellent means . for getting. better average price. From 1T0 to 120 cotton aas at no time lower than 1 e'ents a pound. In that time re had rti most Important manufacturing development In the United fctatea. When we have restor ed JJo same proportions of factory to farm co-ordinated them, cotton will gain command If cents and perhaps a higher price. On the other rtanl, if by the re-es-. tnbiitjhment of slave labor, or bad or unwise government or otherwise, wo reduce the factories to what they were from. I5J0 to 18(0 In clave time, or from ti to 1i9t In reconstruction times we will then see cotton go to 5 centtr a pound as It did in slavery times and as it did again In recon duction tlmis by bad and unwise government'. It Is natural conditions which will permanently affect the price vt cot ton. I find no fault with you for et ting It cents as a desirable price to hold for, by way of having it come upon the market, slower, but the price you will actually get will be determin ed by the correlation of Its production with its manufacture. Other condi tions can be made or allowed to com about that would tend to depress prices unnaturally. The sale' of It all in three moths is one of these depres. sive Influences and your association Is doing most excellent work In breaking up this old way of do:ng. . . THE BANKS. .In what I have aald I have attempt ed to show the Importance of- correl ating the farm and factory- For the proper production and handling of all crops the fnpra and bank must also be correlated with farm and factory. We have already brought the farm and factory into a very rood extent of correlation and we have seen the advantageous results. Prices are bet ter; we have better roads or are get ting them. We have u thousand bet terments that we dtun't have 15 years ago. But we are troubled about money. The greater the prosperity the more we are troubled about money. One of the first and most im portant functions of a banking sys tem should be to facilitate the handl ing of the crops. If you want to hold your cotton the banks should always stand ready to furnish you the money. If the banking system was correlated with agriculture, as it should be, the banks could always meet your-:nls4 to make the crops and market them. But we have a war-time banking sys tem which Is neither correlated to ag riculture nor manufactures nor com merce. It la only correlated to bonds, bond holders and panics. No other country in the world hus such a system. No other country In tho world has such panics as we do. It promotes Infla tion at one time and disastrous contractions-fit another. The old" Orange Idea of sub-treasury notes based upon cotton and wheat in warehouse was wrong becauso It brought the govern ment into the banking business and would have surely lea to disaster. But the same results Intended to bo gain ed can be gained by abolishing all bonds as a basis of bank note issue and let the banks Issue money on its assets. One of the most important as sets in the banks in this section are. cotton farmers notes secured by cot ton In the warehouses, manufacturers' notes secured by cloth on hand and other current commercial 'paper. It Is upon these that a guaranteed money should be Issued. TAX TO SECURE NOTES. There should be a tax of about one per cent, to build up a guarantee fund to secure the notes. With such a system the banks could always Issue more money as It took in more farmers notes covering more cotton or more manufacturers notes; covering more cloth or other safe pa per backed by the products of agri culture, commerce or manufactures. Nothing could be more unreasonable thim in eliminate all the products of Industry from any kindred relation with the banks and force both the hanks and tho farmer to. depend on the bondholder for money. The asset currency plan, based ul timately upon the products of labor and varying with the requirements of industry and .operated through the bunks and not by the government. Is new or untried." On the contrary it Is In use In all civilized countries ex cept ours. Canada, Scotland, France, Germany and others have all Issues of bank notes based upon the su.Ht.-u of the bunks with a tax to create a guarantee fund to secure such notes. In those countries interest rates are lower than In this, fluctuations of rates are less, currency expands when the needs of commerce or agriculture are greater and contracts when they aro less. Neither limitation of the Is sue of asset currency nor high tax to retire It are necessary, With such a system the bank could make more money at 5 per cent. Interest than Is now made at 8 per cent. Interest. Ev erybody would be benefitted and no body Injured. But we would not be dependent on the bondholder for our supply( of money to handle our busi- nesm s. 'There are two bills now pending In Congress. One Is a provision to ex tend tne bond secured currency sys tem and thereby bind us tighter to dependence on the bondholder. This is introduced in the Senate by Senator Al.lrieh. This monstrous system, pro posed by Senator Almch, would make railroad bonds the bnsls of currency l.'Mie. f.v the presen: government bond system wm devised to force banks to buy government bonds dur ing the war to Senator Aldrlch's bill, if made law, would force the banks to buy ri'lirou.1 ' ''oi.dh. It would be correlating the banks with railroad peulatlon and lenvmn the farnicl and manufacturer In the lurch. THE FOWLER HILL. Hnpplly there H another bill In Coi.gress one Introduced In th He use by Representative Fowler This bill purposes to do precisely whirt you nrd I the farmer and inunuf-'-ctuier ' BMfil. It. will abolish our old war 'aind system and glvn us pra?tl j.tily tr.i. rr nie system as Is now in 3'ierii iloi in France, Ocr'iany, Sj.iriiinl, Cur.c.du and other "lM'.i. 'i c i;n.tri,"-s. It will give the bunks a better chance to mako money. It will give the former money when he wants it t currj port of his crop, it wl'l o us all cheaper Interest. It .will eman cipate us from the bondholder; it will (ii.ilMi the la:ik with the. farm nn 1 fa.'U-tv hs tile farm oj factory in ptrKtiy correiatel md worI:ln for eie'.j uihtT's encflt. IV o ? in . ago w were all f ,i the depths of poverty and almost cf dlspondency. By the development of manufactures and the corr .urion of these with the fanning n;cr'et a belter day has come. If wo can n.iw ureuk the banking system Ioos- from 'tf old war purposes and alv l.tose Irom bond bondage and brlnjj i! into lorrelatlon villi the farm anl f.t.noy Interests, as li. done In every othee civ lit?',! country then there Is another better day coming which will be free from high interest rates, from de structive panics ami from scarce money. In ?ll that Is here said, the absolute safety of the currency Is par amount. There Is no proposal to take the slightest rl.k In that matter, TRANSPORTATIO.V. The development of factories Is wholly dependent upon markets for the goods, in normal conditions our domestic markets are the best in the world because e have the best trans portation facilities in the world. The politicians are giving the railroads a bad day of It but the people will ullt matly do the right thing. What I would speak of Is the matter of ocean ships o carry our goods to foreign markets. England. Germany and France are wililng enough to end: their subsidized rhlps ncre to carry our cotton to their mills. As long as you depended upon tnelr mills, you had cheap cotton and It was all the time growing vh.mr. Those coun tries will not send their ships here to take out goods to foreign markets. I have shown how the development Of factories help you. Their further de vlopm. nt will still further help you. If cotton was above is cents a 'pound f os the first 30 years of Its produc tion, when agriculture an: manufactures were be'ter balanced than now. why' rrot ey-n up the conditions as Cull,- us tlu-y were then and have it so agalnTi Tu do o It Is absolutely necessary to have American ships upon the dee seas. In the-former un support of our ocean shipping Into sta was one of the chlefeat concerns of our states' men and particularly of Southern statesmen. Madison Is said to have dono more for American, deep a shipping than any otepFreid'nt from the foundation of the Ame-Uan government down to the present fnit The development of a merchant marine would not only he'p you cot ton growers but would help tns r tl narion. - In Madison's time w handle! in American sli p over 90 per e,?nt. 'of our commerce on -the sea an-l ovr hips did a big business Tor other na tions. Now we handle less than 1 per cent, of our own deep sea com merce. Ave aru building the Pan a ma canal at a cost of $300,000,000 .Putting half the value of a cotton crop in an enterprise to facilitate ocean shipping and yet we have not one merchant ship that under present conditions would ever pass through it we are sending a naval fleet around the world aocompanlea by tiired, for eign tramp snips, in case of war we would not be allowed to use foreign ships. ENGLAND'S ADVANTAGE. England collects annually for hlp ping freights as much money a -we get for our cotton crop. Wo pay in nually to foreign ships more than $200,000,000. England pays annually $12,000,000 to her ship owners foe rial' service, for the right to use the ships lu cv-fa or war ana for straight Tubairtic Pays twelve millions and collects six to eight hundred million. A farmer would have a poor dependence to make a crop by borrowing orhlrlui mules in spare time from his neighbor to plow. We have a poor dependence to develop export tra,:e for our nv-nu factured cotton goods In hiring spare space in foreign ships. - Germany and France pay ship sub sidles similar to what England does. The subsidy proposed now in Congres is less than $5,000,000. It is less than half what the three b:g shipping- na tlons pay, each. Factories have more than doubled the price of your cotton. A good banking system, divorced from bond will still further stimulate and steady tjhe price. v. An American deep sea marine scr vice, to handle the American manu facturetf cotton goods, will still furtn- er stimulate and steady the orlce of cotton. All three of these thiols op eratlng together will put cotto i above 15 cents and' as long as all three are maintained the, price will never-again come below 15 cents. 1 think your association ought to champion three causes, (1) Extension of American factories. (2) The aban donment of the present bond-secured money system and the substitution of a system of asset money based ultl mately upon farm and factory pro ducts and automatically proportionate to these and (3) A merchant mvlne upon the deep seas sufficient to lan die our own export trade. Mr. President Moore and gentle men, I thank yotj for your'courteou and pau-nt hearing. TO THE MEMORY OF W. P. FIFE, On This, III Anniversary of the Dentil of the Noted Evangelist, a Friend Bring a Wreath of Iove and Admiration to I,ay on Ills Tomb In Many Respects He Was a Wonderful Man, anil a Hero. Written for The Observer. ' Just one year ago to-day William P. Fife was ushered Into the presence of his King and yielded up his fran chised soul to the God who gave it. For ten or. twelve years he went up and down North Carolina carrying glad tidings to many sin-fettered souls. How nobly he wrought In his Master's vineyard eternity alone can tell. He was In many respects a re markable man. Of meagre education, his earlier life given to the world and to things of the wsrld, never a stu dent, or a man of reading, with a limited knowledge of the precepts of the Elble and Ignorant of any system, of theology, yet he proved a wonder ful power in reforming men, At hla best, never eloquent, as the world re gards the word, yet I have seen the brainiest lawyers, the most learned divines, the most accomplished schol ars, thrilled with the force of hla logic, the aptness of his Bible quotation, the persuasiveness of his appeal. With all this he had a rich undercurrent of humor, which often pleased his hearers. I have often been puzzled to know the secret of his power, and as I disagreed with htm about many things, and knowing never of hla in ner thoughts and motives, . I am per suaded that It lay not alone in the sincerity of his conviction, but In his sublime belief that he had been in structed and accredited by his Savior to deliver a message of hope and peace to his fellow men. Few men ever attempted to preach the Gospel with greater handicap than he. The chords of financial embarrassment, of reckless living, would have proven fetters too strong for most men, but with him, under the redeeming light of love, they became as ropes of sand. He broke, as with an Iron mace, the fetters of old habits and association: In time paid his obligation' and preached the Gospel with force and effectiveness. Hundreds flocked to hear this new-risen star In the evan gelical heavens and heard him gladly. There are many men In the State to day who bear testimony to the truth that be was Instrumental In making them free, and there are those who, having patsed over the' river, will bear testimony In the great day of reckoning that, under his preaching, they were signed and sealed with the invisible Inscription of the Most High.' j It isxa flagrant reflection on the culture and intelligence of the great! audiences who often heard him glad ly, and on the hundred who, by his appeal, ware helped to a nobler life, to suggest that he was moved by the sordid love of gold. If It be true that the light we give betrays the oil we use, then his oil was pure. If It be true that the deeds we perform have in them tongues Which betray their origin, then his deeds were founded on love for his fellowr'sen. The grent battles of life are fought in the heart, and the world knows when shame and hypocrisy have pulled down the banner of honety and man hood and raised their -own fool flag there. Every thought we think, every motive we cherish, writes It auto graph upon every fibre of our Uvea. Thought externalises itself and we be come and look what we think. A look Int'i his face would at once con vince one of his honetv of heart, his purity of purpose. That he often male mistakes, I freely admit;, that he was without fault, I do not claim. f." It be a noble thing to magnify crowning virtues nd he had them). It 1 a noble thing to minimize faults. For years iefore he quit preaching his throat was often in a terrible condition; a condition which grew worse and worse, and only those who knew him best knew how he suffered. Apparently in robust health he was for years a physical wreck. Though tor the past few years he did not preach from the pulpit yet he car rlee his religion Into hla business. Into his family and among hla associate. f ! I I I .. . j - , .. .. ,, , a -11 Among the best beers, the differences are not largely due to materials. 'Twould be folly to skimp there. . Most differences- in taste are due to the skill, or the lack of skill, in the brewing. Ahd to But quality refers, above all, to the purity. has no germs in it, and it does not cause It is not only good, but good for you. yeast. Pure beer biliousness. Purity is lack is not rare because it easily ; noticed. Ask for the Brewery Bottling. " .'I'- Cotnmon beer is sometimes ' substituted for" Scklilz. . .. v To avoid being imposed upon, see that the cork or crown is branded is costly. But , In , the And STchlitz We because its beer it is first requirement, spend more" to attain it than on any . other cost of our brewing. V All orders sent to k Whitlow and Perrow, ' Old Phone, 366, Middlesboro, Kentucky, will receive prompt attention. " . ' -.6 T hat IV3ak Milwaukee Famous. From his own means, a.s I am re llably Informed, he supported mission rles abroad and at home; gave to Christian and charitable purposes nd when the grim monster ap proached him, found him with the pen Bible in act of prayer and praise to his Lord and Savior. There was never a kinder, more Indulgent father, a more devoted hus band. "Who conquers self. he la a hero brave. Mis name may die, forgotten by Ids peers. Yet the seed he sowed In love and tears Shall liear rich harvests through eternal years." ,, I beg to place this humble wreath on his tomb to-day. . C F. M'KESSON. Morganton. Jan. 27, 108. Senator Tillman Interested In John U. Ilockefeller. Atlanta Dispatch, 24tru , John 1). Rockefeller annV Senator Pen Tillman were principals In a lively discussion at the time of the former's recent trip to this cfty. Senator Tillman boarded the train In South Carolina and was Intro duced to Mr. Rockefeller by a rail road official. Hard times, the money situation, railroads and Roosevelt were discussed. "I think," said Mr. Rockefeller to Tillman, "that Roosevelt made a grave mistake. If he knew abuses existed and he wanted to - correct tin m, he could have gone about It without causing all thin agitation and feeling of distrust. "I hope the people will see after a while that this agitation only htirts them. I ran get along all rli-ht." " Henator Tillman seemed deeply interested In Mr. Rockefeller's re marks, and when he reached his sta tion bade him a warm godd-bye? The Value of Education, PhlladelphhKPublic Ledger. The president of one of the minor college was sauntering down a shady lane one day In the early summer when he met a tall, handsome youth. This youth had Just been graduated. He was very poor and very Intelligent In all hla courses he had taken honors, and In athletics also great honors had been his. "Well, Allen," aald the president, "through at last, eh?" "Tea, sir," said the young man, smiling and blushing. .'-.-', "And now what are you going- to do?", v "I hardly know' yet, sir. I have had two offers." "Two? Wonderful!" "Yes, air. One Is from a scientific society offering me a secretaryship at 15 a week and the other is from a baseball magnate offering a five-years' contract to pitch at $5,000 a season." Winner Didn't Know, lie Had Won the lrie. Mr. C. E. 6nrith, of Baltimore, Md., who has been spending some time in the city, was pleasantly sur prised last night when on looking in to the show window bf the Jewelry store of Garibaldi, Bruns & Dixon, he saw that the -winning coupon number for the 50 prized was the one which he knew he held. This was 8,248. He proceeded to go In and get the goods, which had been unclaimed some time. ' The third prize of $15 value belong-j to the man with No. 7044. The goods are yet unclaimed. AMUSEMENTS I The attraction at the Academy wf Music ThursJay nlg-ht will be Percy U. Benton'a production of the well known play of the West entitled "A Cowboy's Girl." Seats will go on sale to-morrow morning at Bawleys,- "THE COUNTY CHAIRMAN." 'A genuine American play, a comedy of human Interest, set in four elab orately staged scenes, Interpreted by an excellent company of clever peo ple, which Is a very seasonable attrac tion Just at present, this being elec tion year, there you have "The Coun ty Chairman,' George Ade's great suc cess, which will be offered at the Academy f Music to-night under the management of Mr. S. A. Schloss. This beautiful offering totheatagels so unconventional and strikes so near the heart of the great American peo ple that it can safely be said that the pictures placed before the audiences are not like stage scenes at all. Tou see "The County Chairman," and aa each of the four acts progresses you Lay the people on the atage are not acting at all, they are Just their every day natural selves and having fun out of it, too. Who has not seen these fellows hanging around the grocery store with a pump) In front of it? The crabbed, cross, .om fellow In black. Judge Rlgby, is the mean old skin flint, miserly to the extreme and his pretty daughter, Lucy, is as sweet as the roses she carries on her arm. You have to laugh when i'ne shirt less darky, ffcssafras Livingston, sells the grocery storekeeper three dozen eggs some of them duok eggs and the fellow doesn't keep ducks. He gets fifteen cents a dozen in trade and he asks the sTorekeeper for some.to bucco, needles and thread, some lady fingers, a piece of salt -pork, a box of blueing and "the rest in pepper mint candy." What Is the cause or the excitement down the road? The crowd of loafers becomes excited. A lone wheelman comes In on an 'old-fashioned "ordi nary" bicycle. The front wheel Is as big as a locomotive wheel, has a step Just above it. and the rider proudly hays he can make eight miles an hour . on it. t Have they girisjn this place? Lots of them and they come and go wear ing sunbpnnets and little caps. The village belle. Lorena Watklns, is the milliner arrtTSTie meets so many travel ing gentlemen that she can't remem ber their names. She is a natural born flirt and Is proud of It. v A whistle Is heard In . the distance -and everybody on the stage rushea In the dlrection-of-the sound. The dap per traveling man from the city, who sells wind mills, asks excitedly, "What's the matter, a fire!" "No, Just the 5:80 train," Is the loaf, er's reply. 6h. ITor The Observer. JANUARY, v thou of the drear rainr and bitter coltl. I love thee notsave Thou gavest birth to one, An angel, with heart of purest gold! Whose laughter was music of the sweet est toneu Whose eyes spoke love in a language their own . Spoke the sweet message that' made her my Ownl - J. THOMAS WRIGHT. - -.'"i':-. W ?- v ' ' V rV '-V?5.V.Vi ' ' t - J. , I ' n ' HV.' . "-,.""'' -V - I V . ' . ' . - - , 1 - ' : ,.. ,-.- ' V ' iV vt . V,vm. TTTW a V . r If"'" M I : 'U V'' Ai J .1,1! V 1 ACT S THE COCXTT CHArRMAJT
The Charlotte Observer (Charlotte, N.C.)
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Jan. 27, 1908, edition 1
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