The Birmingham age-herald., 1911-11-01
FARMERS MUST HOLD
 REMAINING COTTON
Not Only That But They Must Reduce Next Sea-
 sons Acreage
COTTON CONFERENCE
 ADOPTS THIS PLAN
If Plan Is Put Into Immediate Oper- ation There Is Bound to Be Rise Says Governor
 Colquitt

SOiquitt
 New Orleans, October a1.-The farm
 CTS of the south must withhold from
 the market every remaining bale or | the present seasons crop of cotton and follow this with a concerted ana l binding agreement to reduce next sea-
 sons cotton acreage at least 25 per | cent if they hope to restore the souths great money staple to normal prics l level and retrieve the losses sustained
 by reason of the present low prices
 This is the plan which the confer ence of southern governors adopted at
 its concluding session today to se- cure immediate relief from the depres-
 sion in the price of the staple.
 As means of securing permanent relief from such conditions and 70
 guarantee the cotton farmer in tho future against the necessity of gldt-
 ting the market with his supplies in
 the opening of the season tho confer once adopted resolutions favoring the establishment in every cotton growing state of state controlled warehouses and the collection and periodical pub l llcdllOn Ol Sidtiotico bOhith ePo%+' >f'~ worlds demand for and consumption of American cotton.
 The proposal of foreign banking in
 terests to finance holding movement. covering 2,000.000 bales of the present crop, was referred to a special commlt-
 tee for future action.
 Colquitt Urges Action
 "If the plans as outlined by the con ference are put into operation without delay" said Gov. o. B. Colquitt Of
 Texas, there is bound to be an imme-
 diate rebound in the price of cotton
 and the speculative world will be put
 in rout. The statistics which we have
 compiled showing the worlds demand | for American cotton prove beyond doubt that every pound of this years
 crop is worth 13 cents or more and the
 battle is won if the south's farmers will stand firm"
 Governor O'Neal of Alabama eN- pressed the opinion that the compre-
 hensive plan outlined. if strictly ad-
 hered to, will result in securing mil- llions of dollars more for the unsoid l portion of the present sea son $ crop than otherwise the cotton planter can possibly get by continuing the pres- ent suicidal plan of marketing the
 staple as fast as it is ginned.
 Not in her history he said, "has
 the south so needed an exhibition Of the
 manhood of her citizenship, and l firmly
 believe that the message of this con- ference will not be unheeded."
 The recommendations of the confer-.
 ence follows
 Recommendations
 eve earnestly express so the planters | of the southern states our opinion or
 their following the example of Louisiana'
 and so diversity their crops as to pro- duce everything necessary for consump-
 ton on the farm and let cotton be the
 surplus crop, even if the quantity raised | shall be 25 per cent less than the present crop. as then they will get just as much | in return for much less labor than this years crop will yield at present prices | They will soon free themselves from deDt and he in condition without any f1nan- | cial aid to sell their crops gradually as | the demand exists and not market 1t at ]! the behest of others if they follow our | recommendation They have been accVs- | toned to 90 days in the past. Hs We call upon our representatives lnf | congress to have the present federah crop reporting system so amended as to require the periodical publication of re- liable statistics of cotton consumption, manufacturing and trade information gathered from all cotton consuming countries and we recommend also, and for ourselves agree. that the comnlis- sloners of agriculture in the cotton states gather and publish like information and we suggest to the legislatures or the cot ton states adequate appropriations to this end and uniform legislation enabling the agricultural commissioners to act Tn | concert and to constitute a bureau of cottcn manufacturing, cotton trade and | cotton consuming information, to the end that with the estimates of production which are now furnished by the federal government there may also be estimates of demand and thus put the planter in positio nto fix fair price for his product. .rrhe members of the conference have been reliably informed that bulls on | the cotton exchange have been indicted in the United States courts under the Sherman act for conspiring to buy cotton, and advancing the price. and, if this be | in accordance with the provisions of that act. then we respectfully insist that the tears in the exchanges. who conspire to sell cotton which they do not possess, with the expectation of a decline in ',rlcs or for the purpose of effecting de- cline be liable and prosecuted W
 Fair System Essential A fair and comprehensive system of future trading is accepted by the comner- cial world as essential to the proper and | advantageous movement and distribution of the crop. but as the system has been in instances operated abuses have de- veloped and under certain rules and regu- lations the value of the contract has been manipulated and depreciated to the detri- | ruent of legitimate traders therein, and of the commodity itself.
 "It is urgently recommended that Con- gress shall pass such laws as will abate abuses and regulate the future contract , trading in exchanges to the end that 1t discharge it's function as a trade utility. fair alike to both buyer and seller and to the commodity which is the subject of the future transactions.
 "In order that the producer of cotton may be enabled to make and market his crop gradually and in such manner as will realize for him the intrinsic vaiie thereof. 1t is necessary he secure inex- rersive and adequate warehouse facilities for holding his cotton. and the receipt issued therefore shall carry on it's face such undisputed evidence of validity and scIvency that 1t can be readily negoli ated at low interest rates. not only in tho lo- cslity of it's issue. but in the commercial centers of the world # Tt Is. therefore earnestly recommended that the several state governments shah