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Newspaper
Shiner Gazette
Location
Shiner, Texas, United States of America
Date
Jul 30, 1908
Page
7
A proposal urges farmers to issue warehouse backed scrip to finance cotton against stored and insured bales. Banks issued risky scrip during the panic. the plan suggests a legal, practical money substitute redeemable at the warehouse with trustee management. If widely adopted it could stabilize prices and aid distressed growers.
The Southwestern Traffic Association notified the Interstate Commerce Commission of a 5 to 10 cent per hundred pounds rise on all shipments from other states into Texas. The move targets Texas more than Oklahoma or other states, prompting calls for a broad southwest protest and a possible ballot-box response if unresolved. The opinion notes Texas has been generous to railroads and argues against new burdens on its producers.
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