A capstan (6) based system for pulling and accumulating the pull-cords (10) used to lift hanging window coverings (2) from their bottoms. A cylindrical capstan (6) is supported in bearings so that it is free to rotate and move axially. A splined connection to a holding device permits controlled rotation and locking of the capstan (6). Each of one or more cords (10) is attached to the capstan (6) by means of a clip (16) which can be easily positioned to adjust the position and length of its cord. As the capstan (6) is turned, the cords (10) wind onto the capstan (6) in a single layer due to the camming action of a specially configured camming surface (15). The capstan (6) begins to move laterally when sufficient friction has developed between the capstan (6) and the cord (10) which has been wound onto it. This provides space for the cord to wind onto the capstan (6) in a single layer. During unwinding of the cord (10), a guiding surface (12), over which the cord (10) moves, pulls the capstan (6) back toward its original position. The camming (15) and guiding surface (12) can be made symmetric so that bi-directional operation of the system is possible.