Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1911-11-03

work or year in 90 or 80 days as they
have been accustomed to do.
x ASK CONGRESS AID.
,syNe- call upon our represents in
Congress to have the present crop re-
porting system so amended to report
the periodical publication of reliable
statistics of cotton consumption. manu-
featuring and trade information gather
ed from all cotton consuming countries,
and we recommend, also. and for our
serves agree, that the commissioners OF
agriculture in the cotton states gather
and publish like information. and we
tsuggest 20 the legfslat lures OF the cot
this end and uniform legislation ena-
bling the agricultural commissioners tn
act In concert and to constitute a bureau
of cotton manufacturing, cotton trace
land cotton consuming Information, TO
the end that, with the estimates of pro-
ductfon which are now furnished by the
federal government. there may also be
estimates of demand andI thus put the
planter in position to fix fair price for
his product.
THE members of the conference have
been reliably informed that bulls on the
cotton exchanges have been indicted 10
the United States courts under the Eher-
man act. for conspiring to buy cotton
and advance the price, and if this be in
accordance with the provisions OF that
act, then we respectfully insist that the
bears in the exchanges who conspire to
sell cotton which they DO not possess.
with the expectation of a decline IN
price or for the purpose of affecting u
decline. be- likewise prosecuted.
FAIR FUTURES ESSENTIAL.
"A fair and comprehensive system Of
future trading is accepted by the COM
me al sof-IA 10
and advantageous movement and distri-
button of the crop, but as the system
has been, in Instances operated, abuses
have developed. and under certain rules
and regulations, the valNe of the con-
tract has been manipulated and depre-
ciated to the detriment of legitimate
traders therein and OF the commodity
itself 1t Is urgently recommended that
congress shall pass such laws as will
abate abuses and regulate future contract
trading in exchanges, to the end that
it discharge its function as a trade utilS
ity, fair alike to both buyer and seller,
and to the commodity which is the sub
ject of the future transactions.
'In order that the producer Of cot
ton may be enabled TO market his crop
gradually and in such a manner as will
realize for him the intrinsic value there
of. IT is necessary that he have secure.
adequate and inexpensive warehouse ia
cilities for holding his cotton. and that
the receipt issued therefore, shall carry
on its face such undisputed evidence OF
validity and solvency that it can be
readily negotiated al low interest rates.
not only in the locality of its issue, but
in the commercial centers Of the world.
"It is therefore earnestly recommend
ed that the several state governments
shall take appropriate action to bring
about such warehousing system, or sys-
TENS, as will best serve the interests OF
the producer of cotton.
WITHDRAW UNsoLD COTTON.
In view of the apparent demand of
cotton during the next Is months, we
recommend, that the unsold cotton of the
present crop be withdrawn from the mar
ket and disposed OF by a system of
gradual marketing: We urge bankers and
business men to cooperate with farmers
in this undertaking.
5 1--WE report to the cotton farmers that
tentative and attractive propositions
have been made by responsible financial
interests for purchasing some 100000
bales of the present crop. This negotia-
ton is referred for deverppment into prac-
teal form to a company
Reduction of acreage in 1912 is urgec
as a necessary part sof any plan of hold
ing and financing kne present crop. We
recommend, and for ourselves agree, that
the governor of each cotton state pro-
coed at once to appoint a representative
in each county, who I'm turn will appoint
a representative in each school district
or voting precinct, to secure from every
farmer binding written pledge to RS
duce his cotton acreage in 1912 % per
cent below his acreage in 1911
j REGARDING MONEY ACTS.
:. without discussing the merits Of pend
ing proposals for monetary reform. we
recommend that IN any legislation
which congress may enact for emergency
currency based upon commercial paper
underwritten by banks or association Of
banks provision be made for including
in these acts for such emergency cur
rency, commercial paper, representing
transactions in cotton as well as trans
actions in cotton goods and other man.
fractured products.
1T is our arm opinion that by prompt