The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1914-10-03
Smith On COTTON SITUATION.
THINKS IT DECIDEDLY BETrER
NOW THAN FORMERLY.
ssys That Conference Of Governors
and Congrcssmcn Has Proved Benc-
ncial tn Soutls-Points out Ways
and Means Devised to Aid Cotton
Growers.

washington. Sept. Ex-senator f.
ID. Smith. discussing the cotton con-
Terence OF the Southern governors
and congressman which has been go
ins on here for the past two days, to-
night expressed himself as being of
the opinion that because of the dis
cussion which has been had the gen.
eral situation In now well In hand.
The conference Of governors, SEN
ators and congressman lasted practi-
csliy q night and two days." Senator
Smith said. Every phase of the prob
lem confronting the cotton growers
was thoroughly discussed. There was
sincere interest upon the part of all.
IL was gratifying to me. after my
years work for the cotton growers of
the South. at least to see the govern
ors Of all the cotton growing States
as we'll rs the senators and represen-
tatives Of the cotton growing States
no determined In their efforts to re-
lieve the present conditions.
"The financial situation was careful
ly canvassed. The difficulties In this
respect seemed to be First. that the
money avnilable for loans on cotton
had not been applied for and where
applied for and obtained had not In
q great many instances been used In
such q direct manner or had been
used for other purposes that II had
been OF little or no relief TO the farm
ers Second. that In the absence of
some nxed standard Of valuation a
guarantee of some price below which
the producers. merchants. bankers
and all parties having either direct or
indirect control Of cotton, had de.
termined not to sell. the lenders of
money. mill men and investors were
not disposed to enter the market for
fear u would 20 lower.
There seemed to be pretty unani-
nous opinion that there was an
abundance Of currency to take care of
this crop but there was lack Of con-
ndence w AIRY gwen price below which
cotton would not go. There was some
suggestion that there were influences
at work adverse to any rise In the
price of cotton. but after the matter
had been thoroughly discussed. the
conference adopted the two following
rssolutpns:. 49, u. -..-a-.4.
Resolved. That 1t 10 the sense of
this conferences:
First. That the acreage Of cot
ton to bc cultivated In the United
States In 1915 shall be materially re-
ouced. That TO accomplish this end
every legitimate means shall he en-
ploycd.
Second. That the members of this
conference make every possible ef-
fcrt to secure federal legislation which
viii enable the producers of cotton to
obtain loans of public funds deposited
In the banks. ut a reasonable rate Of
interest to be fixed by the government
and under such conditions as may be
upon such part Of the present crop
prescribed by law and by the rules and
regulation lawfully made by the treas
ury department.
The following resolution also was
adopted by the conference:
'Re-olved. by the governors,
senator's and representatives In con-
sress from the cotton growing States,
In convention assembled In the city of
Washington. September 20. 1914, That
we will most earnestly endeavor to
maintain the price OF cotton above
10 cents per pound and to accomplish
this end will bring to bear. as far as
we can, the power Of the national and
State governments to restrict acreage
for the year 1915 and furnish govern
mental aid to handle the present crop.
The resolution pledging the gov
ernors. senators and representatives
tn use all their power. political and
personal. to maintain the price Of cot
ton above 10 cents pound. and in
furthcrance OF this to invite every
legitimate aid OF the federal govern
ment along financial lines. has given
the pledge of success and makes the
prospects brighter. II must be re-
membered that the present condition
In not one where the producers of cot
ton are fighting adverse forces I'm the
markets. such as has characterized
our fight for the last 10 or 90 years;
but u Is u aght To sustain the farmers
themselves with the markets dead
law can remedy so far as the markets