The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1914-11-30
FORCE A CUT IN
COTTON ACREAGE
Bankers Of South Planning to
CurtaII the 0utput,
MEANS DIVERSIFIED FARMING

and Grain seetion-Ciimatio Condi-
tons Excellent For Production of
Wheat and Corn-Thrss Thousand
F~inancisrs Cooperate In Movement.
Atlanta, Ga.-Three thousand bank
presidents, constituting a majority of
all In the cotton region. have signed a
pledge ito extend financial aid to farm
ers who reduce their cotton acreage
one-half In 1915 and plant the remain
Ing land In food crops"
They also promise Ito discourage I'm
every proper way the planting OF more
than half OF this years acreage In cot
ton next year and to urge the supply
merchants of their respective commu-
mites to adopt the same policy"
1t In believed that this assures a re
duction which will wipe out the cotton
surplus In one year and will open a
new era OF diversified farming in the
south.
The action IL the result OF a cam
paign begun by the Atlanta chamber
OF IN In September. Letters
were sent to all bank presidents in the
cotton states explaining the plan and
asking a pledge of cooperation on
postal card. The replies received are
practically unanimous.
Three thousand and ten pledges with
signatures OF the bankers have been
received, and cards are still coming In.
or these pledges 517 are from Georgia,
725 from Texas, 225 from Alabama, 269
from Arkansas, ia from Louisiana,
1T from Mississippi, 100 from North
Carolina, 443 from Oklahoma, 16S from
South Carolina, 113 from western Ten
nessee and % scattering.
This campaign Il based on the fact
hat 80 per cent OF the cotton farmers
are more or less dependent on banks
or supply merchants for advances with
which to make crop. Heretofore the
average farmer TO obtain credit had TO
show that he would plant enough cot
ton to pay the debt.
Now the bankers and supply mer-
chants will insist on a reduction OF cot
ton acreage by one-half as a condition
OF credit. This Is a reversal OF the
credit system OF the south.
Nell X. Wilkinson. president OF the
Atlanta chamber OF commerce.. made
this statement: Being actual or pros
pective creditors of the south to a
large extent. northern people wish to
know whether 1t will meet its obliga-
lions. This depends ON Its ability to
make the cotton. Just now cotton Is
| selling 80 per cent below the cost OF
production.
ut has neither an open market nor
a fair price, because OF the surplus
caused by the European war stopping
| thousands OF cotton mills. This work
OF the Atlanta chamber Of commerce
Is intended to accomplish two great
objects. One Is to wipe out the cotton
surplus and to re-establish the market.
This the question Of the north.
The other object Is to replace the one
crop system with diversified farming.
That means the south will become the
great grain and cattle region OF the
continent. No other section has pro-
duced as much corn per acre under
good conditions. Soil, seed and culture
being equal. a month more sunshine
makes more corn.
Georgia. the Carolinas and Alabama
have authentic records of more than
200 bushels per acre. Three thousand
Georgia boys averaged nearly sixty
bushels and seventy-six boys made
more than 100 bushels per acre last
year.
"Our returns show that the farmers
OF the southeast made this year two
thirds OF a years supply OF corn and
forage. We have marshaled the imam
cial u Of the south behind the
farmer In his supreme effort to enamel
pate himself from the all cotton sys.
tenn"
The letters show q spirit Of grim de-
termination, shared by bankers. supply
merchants and farmers, to cut the next
cotton crop by half. These expressions
come from every state from North
Carolina to Texas, and the keynote Il
struck by ]. w. Bolton, president Of the
Rapides bank at Alexandria. Ia. who
says:
ut would be folly for us to attempt
to take care Of this years crop and
allow customers to plant a full crof
next year. when by . doing they
would depreciate the value Of the De
curity we have taken from them, which
Is their cotton"