The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-11-01
Then Reduce Next Sea-
son's Acreage atLeast
25 Per Cent
PLAN PROPOSED
BY GOVERNORS
Declare This Will Restore
South's Great Money Staple
to Normal Level and Re-
trieve Losses Sustained by
Reason of Present
Low Prices.

New Orleans. October 31-The farm
ers OF the South must withhold from
the market every remaining bale OF
the present seasons crop of cotton,
and follow this with concerted and
binding agreement to reduce next sea-
sons cotton acreage at least 70 per
cent. If they hope TO restore the
Souths great money staple to nor
NAL price 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 to-day to secure
immediate relief from the depression
In the price of the staple.
Az a means of securing permanent
relief from such conditions and to
guarantee the cotton farmer in the
future against the necessity of glut-
ting the market with his supplies in
the opening of the season. the confer
ence adopted resolutions favoring the
establishment in every cotton grow
Ing state of State-controiled ware
houses and the collection and period
ical publication of statistics bearing
upon the worlds demand for u con-
sumption OF American cotton.
Referred to Committee.
The proposal of foreign banking in
terests TO finance a holding move
ment covering 100000 bales of the
present crop was referred TO special
committee for future action
The recommendations of the confer
cnce follow:
I'VE earnestly recommend to the
planters of the Southern States to
follow the example of Louisiana and
so diversity their crops as to produce
everything for consumption on the
farm and let cotton be the surplus
crop. even IL the quantity raised shall
be 70 per cent. less than the present
crop. rs t.en thSj VIII st Just o.
much in return for much less labor
than this years crop VIII yield at
present prices. will soon free them
selves from debt and be in condition
without any financial aid, 10 sell their
crops gradually, as the demand shall
exist. and not market the work of a
year In sixty or ninety days, as they
have been accustomed to do.
VIC call upon our Representa- ives
Iii Congress to have the present crop
reporting system so amended to re-
port the periodical publication of re-
hable statistics of cotton consumption,
manufacturing and trade informat ton
gathered from all cotton consuming
countries. and we recommend also. and
Tor ourselves agree, that the Com
missioners of Agriculture of the cotton
states gather and publish like infor-
nation. and we suggest to the Legis-
latures of the cotton States adequate
appropriations to this end and uni
form legislation enabling the Agri-
cultural Commissioners to act in con-
cert and to constitute bureau of
cotton manufacturing, cotton trade
and cotton consuming information. to
N ~ Wi. . =
production which are now furnished
by the Federal government. there may
also be estimates of demand. and thus
put the planter in position to fix a
fair price for his product
Prosecution OF Bears.
me mem bcrs OF the conference have
oeeh reliably Informed that bulls on
d dhc cotton exchanges have been in
der the Sherman act for conspirinr 70
Duy cotton and advance the price. and
III ~, tHls De In accordance with the pro-
VISIONS VISIONS Of that act, then we respect
fuily insist that the bears in the ex-
changes who conspire to sell cotton
wnich they do not possess with the
Expectation or u decline in price. or
T. inc purpose of affecting decline.
DC likewise prosecuted
fair and comprehensive svstem
OF Iutnre trading Is accepted by the
commercial world as essential 10 the
d p,dp s,is ,, ana advantageous movement
urgently recommended that Congress-
snaH pass such laws as will Mia r.
abuses and regulate future contract
!, am IN exchanges to the end that
~ taischarge its function as a trade
usiiiiit!' fair alike to both buyer and
seller and to the commodity which 70
the subject of the future transaotions
tbs sa IS earnestly recommended that
take appropriate action to bring n bn,t
sven Warehousing system. or systems
as VIII best serve the interests oi
me producer OF cotton.
Withdraw From Market
view OF the apparent demand
ror. cotton during the next thirteen
sold cotton of the present cron ne
Withdrawn from the market and dis
posed or by system of gradual mar
heling. we urge bankers and bust
ness men TO cooperate with farmers
IN this undertaking.
we report to the cotton farmers
that tentative and attractive proposi-
lions have been made by responsible
i y ian ia interests for purchasing some
This negotiation is referred for devei-
opment into practical form to a COM
mittee
Reduction of acreage in 1912 Is
urged as a necessary part OF any plan
OF holding and financing the present
crop. We recommend, and for our
selves agree, that the Governor of each
cotton State proceed at once to APP
point a representative in each county.
who In turn Will appoint n representa-
tive In each school district or voting
precinct. to secure from every farmer
a binding written pledge to reduce
his cotton acreage In 1922 20 per sent.
'belcr. iis acreage In 1911.
without discussing the merits OF
pendin2 proposals for monetary re-
form. we reoornmen nd that In any IegIs-
iation which CnrEress may enact for
emergency currency based upon com
mercial psper underwritten ny hanks