The Birmingham age-herald., 1911-11-01
FARMERS MUST HOLD
 REMAINING COTTON
CONTINUED FROM PAGE D.

 CONTINUED FROM PAGE D, take appropriate action to bring about such warehousing system or systems as will best serve the interests or the pro- ducer of cotton.
 .'In view of the apparent demand for cotton during the next 12 months we rec )mmend that the unsold cotton of the present crop be withdrawn from the mar ket and disposed of by system of grad ual marketing. We urge bankers and business men to cooperate with farmers in this undertaking.
 We repeat to the cotton farmers that tentative and attractive propositions have been made by responsible financial in- terests for purchasing some 2OJO,0O0 bales of the present crop. This negotiation is referred for development into practical form to a committee. tH FEs Reduction Urged "A reduction of acreage in 1912 is urged as a necessary part of any plan of hold ing and financing, the present crop. We recommend and for ourselves agree, that the governor of each cotton state proceed at once to appoint representative in each county who in turn will appoint repre- sentative in each school district or voting precinct to secure from every farmer binding, written pledge to reduce his cot ton acreage in 1912 25 per cent below his acreage in 1911.
 without discussing the merits of pend- in, proposals for monetary reform, we recommend that in any legislation which Congress may enact for emergency cure based upon commercial paper underWrlt- ten by banks for currency mediums, or underwritten by associations of banks, the receipt for cotton be considered nesotia- ble in cotton as well as transactions in cotton goods and other manufactured products.
 ..It is our firm opinion by prompt and aggressive action under cooperation and organization the cotton farmers and busi- ness men of the southern states can speed fly rescue the present crop from 1mpend- ing sa crifice, and can restore the fair price which demonstrated demand war rants can insure stable values rom year to year" s
 To Hold Similar Conferences If was decided to hold similar confer ences in the future on the call of the chairman The committee which is to con- slider the proposed financing of 2,0OO,OOO hales of the present crop is composed or Governor Colquitt of Texas, Governor Sanders of Louisiana, Governor Q Neal of Alabama, Governor Noel of Mlsslsslppl
 
 appointed by the governors named here'
 
 Resolutions favoring the immediate per- lection of plans to secure pledges TOT a reduction of the cotton acreage next sea son and appealing to the farmers througn- out the south to hold every bale remain ing on hand of the present seasons s crop, were presented to the cotton conference al tho afternoon session which convened at 3 o'clock.
 These were decided to be the two most necessary steps to take for the immediate relief of the farmers and the restoration of cotton to normal pric level.
 No up set price for the staple is stip- ,,lated in the resolution, hut the farmers are assured that if they will hold cot ton they now have on hand indications fa- vor an early increase of at least to cents per pound. These assurances arc based upon the figures gathered by the governors through the state department associations, showing the worlds demand for American cotton almost equals tho large governments estimate of this sea- sons production.
 The resolutions committee also reported a resolution strongly indorsing the Louis jana state owned warehouse system and urging it's adoption by other cotton grow ing states.
 Resolutions Adopted
 The resolutions as offered were unani- mously adopted by the conference. The governors present and a citizen in each cotton growing state are to compose committee to continue the work started by this conference in their respective states. The conference then adjourned, subject to the call of Governor Colquitt.
 This was considered one of the surest means to bring permanent relief from conditions such as the cotton farmer has to face this season.
 The plan suggested by Clarence Ousey, editor of the Fort Worth Record, of mak- ing demand upon the federal govern ment for periodical statistics relating to the demand and consumption of cotton was indorsed in the draft of the resolu- tions. N r Following the consideration of the -eso- lutions by the full conference and their final disposition the governors prepared a memorial to President Taft asking hat the cotton farmers be squarely dealt with in the matter of employing the Sherman antitrust law in the speculative world the suggestion being made that if it is right and proper to indct the bulls of the cotton market the government should display an equal activity in bringing to the bars of justice those on the other side