The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1911-09-19
DECLARED FOR 1s-cENT COTTON
Convention of Growers %s<n nW<
"a
Takes Important Acti.


Cooperation Among Farmers and
With Bankers and Financicrs De
clared to be the Solution of the
Problem That is Vexing the Cotton
Growers Of TOday-ProceedingS
Yesterday Included Many interest
ing Phases as Indicated by the Fol-
lowing Report.
Montgomery, Ala, Sept. 13.-Five
hundred farmers and as many bank
ers, Congressman, United States Sena-
tors and business men, representing
every cotton-growing State, declared
ir convention today that the farmers
cotton is worth fifteen cents a pound
and resolved that the farmer should
hold his cotton for that price. The
resolution followed a committee re-
port that the crop in America would
not exceed 12,5O0 0OO bales.
For financing the crop Of this year
resolution was adopted to the effect
that the farmer should deposit his
cotton in a warehouse and use his re-
ceipt as collateral unit! he could sell
his product at not less than fifteen
cents. There was also resolution
that the several State legislatures pro-
vide a system Of bonded warehouses
Declaring that organization among
farmers and cooperation among them
with the bankers and financiers was
the solution of the problem, the con-
vention resolved itself into a perma-
nent organization to be known as the
Southern Cotton Congress and ad-
journed to meet in Atlarta at the call
Of the president E. j. Watson, Com
missioner of Agriculture or SOutn
Carolina.
The meeting in Montgomery is to be
followed by a similar convention in
every Southern State to be called BY
the Commissioner Of Agriculture OF
each State. By these conventions the
action of the Congress is to be rati-
fed and reinforced by further steps
to await a better price for cotton.
Among the speakers was Senator
Smith, Of South Carolina, who re-
ceived the thanks of the Congress for
his attitude toward the government
| cotton report; Congressman Helm
| and Clayton, of Ala bama, and Hughes
of Georgia.
It was Senator Smith who made the
/ speech which decided the congress in
! naming the price Of cotton at Is cents
! for Congressman Heflin wanted to
| make the price fifteen or fourteen
/ cents with fourteen cents as the mini
| mum. Congressman Clayton de-
/ clared his belief that within ten years
the world would be using twenty-five
or thirty million bales Of American
cotton.
president C. S. Barrett, of the
Farmers Educational and Co-opera-
tive Union, denounced as baseless the
reports of bumper cotton crop; de-
nounced the charge that the Farm
ers' Union was a combine to hold up
civilization, and asserted that there is
a commission for the purpose Of ham
mering down the price Of cotton.
AS the result of a conference in
! Montgomery yesterday evening Presi-
dent G. S. Barrett, Of the Farmers
Union. announced today that q
French English syndicate has guar
anteed any amount of money up 10
seventy-five million dollars to finance
the South's cotton crop. The deal
was made with the personal supR.or
of the syndicate. The money is to be
loaned at six per cent and the cotton
is to be put up as collateral Details
of the plan are to be perfected by Z
committee to be composed of on.
Southern banker and two members ot
the Farmers Union. The estimate OF
this years cotton crop. recommended
hy the committee Of state and adopted
bv the committee. is approximately
1850. 600 bales. This estimate was
based on figures proposed to the com
Tr.ttee by the call OF States. each State
being represented by its Agricultural
Commissioner or his authorized assist
1ai
National Farmers Union from its re
at Ia