The Birmingham age-herald., 1911-10-31
Almost Every Cotton Grow ing State Is Represented
 By Its Governor
THOMPSON MAKES
 BRILLIANT SPEECH
Offers Solutions for Benefit of the Farmers Which, if Followed, Would Be of Great
 Value


 to cotton after an all days consider ation of different plans for relieving the present demoralized situation in the cotton world did not reach an agree ment and adjourned at 6:30 o'clock until 10 o'clock Tuesday morning.
 Almost every cotton growing state was represented at the meeting, fhe governors of Texas, Alabama, Missis- sippi, Louisiana and Virginia were pres ent and from these and almost all the other southern states came the commissioners of agriculture, bankers and prominent planters. Charles $. Bar" rett, president of the National Farm ers' union, was also present and took hn active part in the proceedings. To Publish Figures At tomorrow's session Governor Col nuitt of Texas has promised to make < <public the first statistics ever com piled for the benefit of the cotton pro- ducer relating to the consumption or cotton and the estimated demand or , the world for cotton of the 1911 sea son These figures, 1t Is said, Will clearly demonstrate that even admit ting that this seasons crop will be the largest in the south's history, every bale is worth from IA cents to 15 gents pound.
 NJ While the figures were not given put in detail Governor Colquitt said they showed that the worlds demand at the present time was far greater than the supply.
 And in his remarks the farmer has II asked for aid" he continued.
 President Barrett of the Farmers union stated the members of this or ganization are prepared to hold every bale of this seasons cotton which they have on hand and will be urged to do so.
 The figures bearing on the con- sumption of cotton and the worlds de- ! mand were furnished by American con buis abroad through Secretary of State f Knox They were secured on short mo- n tice and Governor Colquitt declared Sthat this fact proved clearly that tho # rrn niaer,. can furnish such sts .ts--si' \ for the farmers benefit throughout the 4 period of marketing cotton and demand for such will be made by the confer ence.
 At this afternoons session the con- ference listened to an address by Pres ident w. B. Thompson of the New Or leans cotton exchange which all pres , ent rconceded contained suggestions that if carried to a consummauoh would mean the financial emancipation | of the cotton planter and of the south.
 In an Economic Issue
 MT. Thompson treated the question sole ly as an economic issue. After presenting the causes of the present condition ana tshowing the part that the farmer must play by disposition to market his nrop slowly. and the part the banker of the
 south should take by his Willingness to lend financial support Mir Thompson dis
 cussed the states part
 He told of the step taken by Louisiana,
 by popular vote of her citizens, to es- fablish state owned,- state controlled ware houses, whose receipts will be bankaDle in every part of the world and offered this as the only safe plan for the south ern states to adopt to secure permanent &relief from the conditions which now con- |8front them .- 'H Mir. Thompson said:
 g The logical extent and perfection of the farmers union plan for a chain of Interior warehouses and collateral and \ ssaupplemental thereto lies in the estab- { Nshment at the outports of great central Warehouse plants in which the benefits of centralization, of modern methods and ] 'lmproved mechanical adjuncts, conJoin the element of protection and assure &stability and strength affording state fpwnership and operation. It will not +!bnly make available the best holding fa- ff feilities at the ultimate minimum of ex- t1,a ,ntf int Y 1ssued thereby with a universal reputa- Hon for sovency, which will make the |4 name current in the money markets of .3fhe world at the lowest rates of interest ond under the most advantageous terms. v
 Speaking of the Louisiana plan he said: l5 "A constitutional amendment recom- x nended and strongly supported by the XBresent governor of our state conferrng jg1lpon the board of commissioners of the VI |ort of New Orleans one of the atcnin- j strative arms Of the state government, tXhe necessary authority to bond, construct nd operate a warehouse system such as &utlined above, has been within the year
 dcpted, and ratified, by the people. <k "Under this constitutional sanction the aJ Nate proposes in the near future to trcct
 great warehousng plant, the like of Khich exists nowhere in the world to-
 The state will be able to acquire the Necessary land and construct the plant EEK the minimum of original outlay. &Xhrough these economies, supplemented & bv exemption from taxation. expense sav- &1ng methods and engineering improve ments, I confidently believe that the cost Eof handling and holding will not only be * materially decreased, but. will be reduced
 to an as.onishingly small item. \ "Furthermore. the cotton receipt issued Rby the state warehouse will be known ii pnd accepted throughout the world. and ~ as I am informed by leading bankers will M be the means of attracting hither millions of foreign capital for loan investments at low interest rates in the cotton col lateral offered.
 sEs Methods Ruinous
 .N "This undertaking represents an enort 10 revolutionize the past and present ruin ous methods of marketing our great prod rct and through such revolution to esv ktabish distributing markets in America
 and in the south where they belong. and tu maintain them here. rather than in Eu-
 hope, where they have heretofore thriven Z Tor the profit of foreigners and at our ex-
 )ense
 "What Louisiana has done, other states hay do; and concerted action in this re- sY Lrd. whereby the power of all the peo- .H 1e shall be exerted upon broad economic E3 hes will solve the problem which
 arakses us today and which if left un-
 
 .lCQNTINUED ON PAGE 8
 "~ .F