The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1911-11-28

freSident OF n Southern Con-
gress, Says All the Gentlemen From
the South Who Were Present in
Washington Think the Plans of
the Bankers to Advance Fifty Mil
lion Dollars to Finance the Holding
OF Cotton is One That Will Help
the Southern Farmers.
columbia State.)
"An Of the gentlemen from the
South were convinced that the pro-
Queer has everything to gain and
nothing to lose. ever being protected
against any decline in the market,
from h price prevailing the day he
puts his cotton in the hands of the
State committee" was the statement
made yesterday by E. J.. Watson,
president Of the Southern Cotton
Congress and Commissioner Of Agri-
culture of South Carolina, upon his
return from New York. Mr.. Watson
attended a conference of bankers
and cotton men when plans for $780,
100000 to finance the cotton holding
movement in the South were perfect
ed. Commissioner Watson gave out
a brief statement and said hat the
Tx SALA III lS P1OPooCo pldAA
would later be announced. He said:
The press reports have conveyed
to the public the facts that are essen
tial to the producer. All of the gen.
tle1nen from the South were con-
WINGED that the producer has every
thing to gain and nothing to lose. even
being protected against any decline in
the market, from the price prevailing
the day he puts his cotton in the
hands OF the State committee. We
have come back to our homes to
ascertain whether the farmers, chiefly
through the Union, wish to
avail themselves of the offer made.
II they do. then a State committee Of
representative men who will act as
trustees for the producing interests
will be formed forthwith II mem
bers of the New York group will come
to each State to meet these commit
tees and go yer the entire matter.
I've only just gotten here and can only
say in regard to the fiscal end Of the
matter, so far as the financiers are
concerned the bankers stand ready to
go into all details with responsible
State committees They have already
provided complete machinery for i'm
Mediate transactions throughout the
cotton belt States. Governor ONeal
and III others as we'll as myself have
simply gone over the proposition in
behalf Of the interests it is our sworn
duty TO safeguard as far as possible
We have gone no further han to ex-
press III views, and now it is @ mat
ter for the producers themselves to
act upon. We have gotten the offer
of extensive help and have come back
to consult with our people. In the
next few days this will be done as far
as possible in all the States and then
such action as the results indicate
will be taken. This is all hat / feel
warranted in win today
Commenting on the plan and the
interview of Commissioner Watson,
on the day following the publication
Of the interview, the Columbia State
says editOrially:
niles there is something more
tangible or advantageous to the
South to offer the farmer with cotton
on his hands than the proposal
brought from New York by Commits
sioner Watson, Governor ONeal ana
other Soutferners representing the
interests of cotton anyone
with influence with the farmers who
opposes the plan or discourages hold-
ers cf cotton from participating In 1t,
assumes q heavy responsibility. II
there is any other definite proposal
minus ifs and fTothy talk. to quickly
withdraw two million bales from the
market and to give the farmers a
share in the advance The State has
not been furnished the Information.
We recognize quite clearly that the
u!an is speculative and that it is but
an ~exped:ent, il will not permanently
solve the problem. But We also re-
cognize the extreme im~probability OF
any scheme, except a temporary one,
being got to work in time to enefit
roducer OF 1911 cotton. II there
is any other moro workable way of
getting quick action for the farmer we
wish opportunity to give II publicity.
at is speculative. The men who
are willing TO put fifty million dollars
into holding cotton are depending on
4 rise for their profits, and ropos
to IA Ike 25 per cent of the advance in