The Washington herald., 1906-10-19
AFTER EXPRESSLINES
Bankers to Drive Them Out
Of Banking Business.
COMMITTEE TO GET EVIDENCE
Fight h to BE Taken Before Inter-
state Commerce Commissioned. J..
MADDEN, of Atlanta, Pleads for
Freer Money Arrangements for
Handling the Cotton Crop.

ST. Louis. Mo. Oct IS.-The American
/ Bankers Association proposes to drive
/ the express companies out of the bank
ing business.
! The executive council was instructed
to-day TO appoint a committee TO gather
/ evidence Of the breaking Of the interstate
commerce law by the express companies
/ in doing a banking business. and Il
place the same before the Interstate Com
merce Commission. with the avoWed pur-
/ pose of compelling these companies 20
discontinue the banking business"
/ The proposed constitutional amendment
limiting the membership of the executive
/ council which threatened 10 cause "a
/ serious breach IN the associations rank.
/ was laid over for "a year.
/ Further discussion Of the elastic cur
rency" plan failed 60 materializc to-day.
/ but q number of interesting addresses
/ were MADE.
Half Billion TO Handle Cotton.
/ Charles j. Hadden. OF Atlanta, Ca. who
/ is neither a banker nor a bankers son,
made a plea for the Cotton Fields
In the course cf an address. replete with
/ interesting Information. Ar. Hadden said
THE cotton fields OF the South need
4 a larger volume OF currency at the har-
/ vest season. Cotton at that season SO
nearly absorbs our whole banking capital
other lines of traffic are made TO suffer
/ ] am here 10 ask your distinguished body
I 30 throw the weight of its great influence
in favor Of some plan that VIII relieve
/ the yearly congestion. 1t is unfair and
] H... I. q.
I upon New York.
Five hundred million dollars is re-
quired IN the South every year within u
period of about three months. 60 handle
I this crop. Our banking capital IS made
/ quate. Why h0uld wc need 90 send our
/ money 10 New York nine months IN she
year To gain the good viii Of the banks
/ OF that city that they may lend il back
/ 20 us in the harvest season to handle "a
/ crop for which the gold Of the earth beck
ous2 We feel kindly toward New York
that city has been our friend But We
want the fullest measure of independence
/ that conditions justify.
After a careful study Of the paterual
policy Of England. I am confident that
/ If the cotton crop was grown under the
English flag that that country would by
I an export tariff, or appropriate bounties.
reserve for its home manufacturers the
monopoly Of the raw material for the
clothing Of the world. Such a policy IS
/ un-American. But a currency system by
which the people of America are uabIed
10 hold their cotton allowing it To per-
colate into the market as the spinners
need II, enabling the producers TO enjoy
the fun benefit OF competitive buying IS
wholly compatible with the policy of our
republic. and wise beyond controversy.
America Has Cotton Monopoly.
Cotton is a child Of climate more than
Of soil. During the cotton famine Of the
civil war millions We're spent and waisted
by the European governments in the Ct
fort to establish cotton fields in other
parts of the world All in the end failed
So, recently. was lost S10N0)0 bv Man
I chester manufacturers, who attempted 10
establish cotton farms in the Congo basin
Of Africa. This plant requires a certain
aV rage temperature during the young
and tender period, a certain higher aver
age temperature during The succeeding
days of development. and certain other
average temperature during the DAYS OF
its fruition. Coupled with these cCndi-
tions. there must be certain average de-
gree of moisture In the air. Tie hot winds
/ from the South Atlantic. crossing the
Gulf Stream and meeting the colder air
currents Of the Appalachian chain. pro-
( duce this degree of moisture The facts
which have just recited are proven by "A
century Of experiment and by scientific re-
search. Between ATTITUDES 80 and %
North. and from longitude Too Wes-.
thence eastward 10 the Atlantic Ocean. is
formed by nature by The combination of
warmth and moisture. the cotton-yieldine
area for the world. Scientists tell us that
the growth of cotton on a considerable
scale viii be restricted to this area until
the Creator has physically remodeled this
r,f.-a+