The Montgomery advertiser., 1905-01-06

becoming a speculator himself. He defended the government estimates and vehcincptly declared that neither the geutlmen from Gorgia nor any other man can name one single pro- ducer of cotton content with receiving the legitimate price for his staple that is. the price fixed by the law of supply ard demand.
 He attacked the bucket shops and said that the impression which had gone forth regarding cotton could be counteracted by the producers holding tfefr cotton or by cutting down the acreage next year. He reiterated his former statements upholding the ac- curacy of the government cotton re- ports.
 Further defense of the governments s cotton estimate came from MT. Lover ing (Mass.) who insisted that they were absolutely necessary to the grower and spinner of cotton.
 Replying to a statement by MT. Bartlett, (Ga-,) that in spite of the governments recent report. the cotton that had come to sea ports each day had been about half as much as 1t was last year. MT. Lowering declared that 1t was because of the men of the South were holding their cotton
 T admit" said Mr. Bartlett T am holding all have got"
 Then" retorted MT. Lowering therc is nothing in your statement" and the added that the banks of the South were helping the farmers all they could. but the trouble was the banks were very nervous and were calling in their loans.
 Maintaining that the government a ct fa0 Ho nf when the vastness of the undertaking was considered, Mir. Sims, (renn..) said that if even if they were a mill lion bales wrong. thero would be no justificvation for the abolishment of the reports. Tn every instance, he said, the estimated condition of the cotton by the agricultural department had been less than it turned out to be when gathered and marketed. "Who has been fooled?" MT. Sims vehemently inquired. Nobody" he said. except some man or men who would not believe official information ket makers and manipulators." Mir. Sims deprecated the fact that the government cotton reports nave been brought into disrepute and dis credited when he said "The whole world has learned to rely upon them by reason of their marvellous. accura- cy."
 MT. Livingston insisted that the peo- pie of the South wanted government cotton statistics at least weekly as we'll as the sources of such informa- tion. He charged that Mir. Burleson had done the South and particularly the planters of Texas an injustice when he denounced them as specula- tors.
 The debate was brought to a close by MT. Scott, (Kan.,) a member of the agricultural committee, who defended the committees recommendations. By a vote of 80 to 1T the resolution was then laid on the table.
 Mir. Hill, (Conn,.) then moved that the House go into committee of the whole for the further consideration of the bill to improve currency conditions and Democrats forced a roll call MT. Hills motion prevailed 1o9 to 91. The house then went into com mittee of the whole to further con- slider the bill MT. Dalzell (Pa.) in the chair.
 MT. Fowler tN. J)' chairman of the committee on banking and currency called attention. to the remarks that had been made in the House as the payment of interest or government deposits and said he had received in- formation from the Secretary of the Treasury. wflch proved conclusively that no bank anywhere in the United States. under any conditions, could af- ford to pay interest at any rate. For nearly an hour MT. HUI, with the aid of an immense chart, explained certain figures bearing on rates of in- terest on bonds in different parts of the country. He expressed himself as opposed to investing the government with banking powers to lend govern ment money at various rates of inter- est to different parties and said that the time would come when tho people would regret that the Secretary of the Treasury had been given power to take the funds of the country and lend them at his own discretion anywhere under all circumstances and with no responsibility.
 MT. Williams. (Miss.), ridiculed the figures of Mir. Hill as the "supremest sort of fallacy" and said that MT. Hill 'has so wrapped me up in figures that l don't know what will become of my nervous system He then en- terer into an extensive discussion of the subject of rates of interest paid on deposits in different sections of the country.
 After MT. Prince, (Ill). had spoken, the bill was laid aside and the House at 4;35 D. m., adjourned until tomor- row.