Western Carolina Democrat and French Broad hustler. [volume] (Hendersonville, N.C.) 1913-1915, 1914-10-22
SITUATION IN COTTON GROWING
is PRONOUNCED CRITICAL.
Governors Calling on Government for
Aid, Says Bankruptcy is I'm
minent Without Relief.

| washington, Oct 15.-D0claring that
the crisis confronting the cotton In
dustry is os serious that only federal
i aid can forestaH disastrous results,
/ the governors of four cotton states In
| kilograms made public here today ap-
! peal to President Wilson and congress
| for immediate relief measures.
| Gov. o. B. Colquitt of Texas charac-
| teriZes the outlook as one OF certain
| bankruptcy" and advises that the sit
uation is sdaily growing worse"
Emergency currency issued to the
banks has not relieved the cotton
states, says the Texas executive, "but
! the deposit of government funds in
banks under the express condition.
| that it be advanced upon cotton at it's
fair value at low rate of interest for
! one year with the legislatures of the
cotton producing states or through an
act of congress curtailing the acreage
and production for 1915, would in. my
opinion; very nearly save the situa-
tion.
Loans to farmers at four per cent
Oh Warehoused cotton are suggested
Eby Gov. Earl Brewer Of Mississippi
THE government cannot possibly
lose," he says, for this would be a
gilt edge security" He also urges
curtailment of next years crop.
he cotton situaties isa this
grows worse day by day, says Les
Cruce, governor of Oklahoma. 'HThe
producers of cotton are absolutely at
the mercy of the spinners and specu-a
lators. In my opinion the federal
government should pass law restrict
ing acreage for the year 1915 and
should in addition offer substantial
aid in holding the surplus production
for this year by extending credit at
low rate of interest
Gov. John M. Slaton of Georgia, in
his telegram, says that while his state
contemplates early steps to cope with
the situation, he is convinced that the
farmers must look to congress for
any adequate relief.
Approves Wade Plan. .
II. e. Walters, chairman of the
board of directors of the Atlantic
Coast line, called on President Wilson
today to discuss the cotton situation.
He approved the Wade plan for a
$3.50 ,O0, 900 pool for relief of planters,
tells the president this was the most
PRACTICAL suggestion yet brought for
ward.
If the present low prices continued,
Mr.. Walters declared sections of the
south would be bankrupt. He urged
the president to support the ware
house bill not pending in congress.
Mr.. Walters later discussed the sit
uation with members of the federal
reserve board and urged that every
thing possible be done to facilitate
the early realization of the Wade plan.
He said the railroads of the south,
were seriously embarrassed because
Of the absence of the usual large
movement of cotton.
Fight in Senate Beguns.
Washington, Oct. 15.-The fight for
cotton relief legislation in the pending
ware revenue bill was begun in the
senate today.
Southern senators vigorously press
ed the amendment authorizing $780,,
600 900 bond issue for the purchase of
) 600 900 bales of cotton at ten cents
pound. Senator Overman also pro-
posed a new amendment to authorize
tie secretary of the treasury to loan
to the southern states the amounts
collected by the government under the
COIIOn IdA 41uPO0CO cAO S~ANNA
the civil war.
The total loan under the Overman
amsndment would be $65, 93o,598.31.
Tt would be held by the states for five
years, subject to the disposition of
congress When loaned to produc-
er of cotton" the rate of interest
would not exceed three per cent.
A $500,000,0O0 appropriation to
1I0v1 %Ian
cf the cotton amendment was pro-
posed by Senator McCumber. Senator
Hoke Smith, supporting the bonding
amendment, reviewed the situation in
the south and declared the business
fabric of the entire section depended
en- the marketing of cotton. He said
business throughout the entire south
would be affected adversely unless
something was done to aid the cotton
farmers.