The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-20
COTTON BYLAWS TO
Be ADOPTED TO-DAY
Not to Oppose the Lever Law
Despite It's Admitted
Shortcomings.
ONE WAY TO REDUCE CROP

At meeting yesterday morning the
membership OF the New York Cotton Elk
change informally considered the new by
laws prepared by the special committee
and these will be balloted upon by the
members of the exchange to-day. There
is no question about their acceptance.
In some quarters II is thought that III,
New York Cotton Exchange has given
too prompt acceptance Of the terms Of the
Lever hill, q measure which u II generally
admitted will impose great handicaps on
the FREQ conduct Of business IN a most
trying crets. The officials Of the ex-
change defend thc- course on the ground
that they wished 10 place no obstacles
whatever in the way OF untrammellcd op-
eraion for the new law. much AS they
deplored its passage at this Juncture. It
ia also admitted by them that at this
moment there appear to be several fea-
lures which will cause no end of trouble.
For instance. New York would not care
to resume business without synchro-
nous opening on the part OF Liverpool.
Yet the new law PENALTIES the sending OF
orders to Liverpool. II les true that this
law does not SO into effect for four
leading members of the New York Cotton
Exchange that some changes may occur
IN the situation In that time, such as a
modification OF the grade standards de-
ViSed by the Department OF Agriculture,
that Will not stani ~ ;he way of L.vsr-
pools acceptance 81 Government stand
ards.
one of the subjects that appear to
be cnlistinG the attention OF the South
10 the reduction Of the acreage. The
South Carolina Assembly, nov ia session.
Is considering "a hill 20 reduce acrcag.
two-thirds. This already has passed the
lower house and goes before the Senate.
The Charleston News and Observer, one
Of the leading newspapers Of the STATE IN
greatly opposed to legislation OF this char
acter. 1t admits that II the Legislature
should 20 To the extreme of forbidding
tn" cultivation of cotton IL would be in
response. strange ~ Il may seem. to the
clamor raised 10y the farmers themselves.
The sound position of this journal is SET
forth in an editorial, Of which the fol-
lowing is a part
The argument of the ellmnators, OF
course, II that the policy they urge
would save the crop now In hand. II
would do nothing of the kind. of course.
The price would not be apprcciably az
fccted for AT least six months. or until
tho planting season had passed. and II
was certain that the legislation now
being urged was not going to he repealed
Whose will the cotton be then? VINO
will get the benefit of rise. n one
should come, as prc,ilcted7 How many
one horse tenant farmers would be- able
to finance themselves over This period?
mo law requiring reduction in acre
age next year IL needed. because there is
going to be n reduction anyhow Rut
law denying to the farmer the right
~ try.f,xN IA s.nt4 - not ,.t,I.s Ia,
gerous in principle. but IL also involves
very serious practical problems which SO
far have received only the scantest at
tcntion from those whom they should
concern most
This newspaper for years has
preached divcrsiication, has urged the
growing Of other crops besides cotton.
has never wearled Of chanting the wis
dom OF those who made themselves in
dependent by living at home. hut while
II is az true gospel that almost any
thing which will grow nj all can be
grown in South Carolina, our whole sys.
tenn of agriculture has centred around
cotton Upset that system violently and
without warning and the results will he
only less terrible than war"
q. II. H1mmond. one of the best known
OF the cotton crop experts suggests the
abandonment Of the remnant of cotton in
the fields after the first of December
This would result in q material reduction
in the size OF the present crop and that
portion which Il would he TO the hest
interest Of the farmer to lose
1.-THE cotton In the fields after Thanks
giving Day" says Mr.. Hammond. would
he extremely low grade in character, and
on the basis OF & cents for mddling would
not he worth more than cents or $50
a bale. II would cost the farmer at least
81 per 100 pounds TO pick this cotton
Ia