The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-08-15
THE COTTON MOVEMENT.
Atlanta Chamber of Commerce and
Citizens Making Ready for it.

OAL4LbAb AnaA4nH ANbdNAy AOA H.
Atlanta, Ca, Aug. 14-At a meeting Of
| the chamber Of commerce to-day a resolu-
ton was passed almost unanimously call
ing upon the banks Of the city to issue
clearing house certificates in case of ne
| cessity, in order to furnish the freedom
of currency that may be demanded for
the moving Of the cotton crop Of this re
gion Of the south.
INSPIRED BY NO CRISIS.
The call for the meeting grew out of no
crisis in the city's financial condition, but
was suggested by the current reports in
some Of the leading financial and trade
papers of the country that there would be
crisis at the south when the cotton crop
was marketed on account of the general
strirgency in financial circles throughout
the land.
TO CHECKMATE ERRONEOUS IMPRESSIONS.
In order TO offset such reports, so far as
Atlanta was concerned, president Wood
son, of the Atlanta chamber of commerce,
deemed it wise TO call a meeting to-day to
take some step that might give assurance
that Atlanta would be fully able to handle
the cotton crop this year as in the season
past.
BUSINESS MEN GENERALLY ATTEND.
The meeting was largely attended, all
of the prominent business men of the city
being present, not alone the members Of
the chamber of commerce, but likewise
merchants, bankers and business men
generally. 1t was kind of a mass meet
ing.
BANKS OF ATLANTA FULLY PREPARED.
After full discussion of the situation it
was shown that the banks of Atlanta
were fully able to take care Of the usual
Il.
always been doing. But the general
opinion of leading business men of the
city was that issuing clearing house GER
titiCates on the part Of the banks would
greatly allay the feeling of doubt
throughout this region of the south
arising over the scarcity of actual money,
as il would allow more cash to circulate
than could otherwise be secured. A com
mittee of five leading business men was
appointed to draw a resolution conveying
the sense of the meeting.
ORGANIZATION Oh THE COMMITTEE.
Mr.. J. G. Oglesby president of the
Commercial Club and ex-president of the
chamber Of commerce, was made chair
man of the committee. The report of the
committee was in line with the plan to
ask the banks to issue clearing house GER
tificates, just as the banks of New York,
New Orleans and other cities have done
IN case Of necessity, to the amount that
may be deemed necessary.
NO OCCASION PoR THE STEP JUST NOW.
in making the report of the committee
Mr. Oglesby stated that the necessity
does not now exist for such a step, but
that it was right for Atlanta to show the
cotton growers that their cotton would
not have to stand upon wagons in open
streets. as had been implied in the re-
ports published in some of the trade
journals.
THE SOLITARY CAUSE OF TROUBLE.
Mr. Oglesby said that the only trouble
that could arise was over the scarcity of
currency in the country, and said it was
to be hoped that the present congress
would enlarge the nations currency at
once
GETTING IN A WORD FOR SILVER.
''There are those who sheer at the idea
of charging it with silver
said he; "but the time has
never come to us business men of the
south, nor will it ever come, when we
shall find silver money any the worse for
use than any other money!
This reference was loudly applauded,
as were all of the speeches bearing favor
ably upon the use of both gold and silver
in that section in the present stringency
throughout the nations financial circles
1t is probable that the Atlanta banks
will concede the request of the meet
ing and is sue clearing house certificates.