The Washington herald., 1914-11-23
MISS RICHARDS
LECTURES TODAY
viii Give New Political As
poets and Progress Of
European War.
COTTON POOL DISCUSSED
Mrs. Pethick Lawrence, at Last Meet
ing, Outlined Her Plans for Uni
versal World Peace.
COTTON POOL DISCUSSED


last Monday, on Current History Day
by-Day," the large auditorium at Wood
ward & Lothrop's was so crowded that
many were turned away. Miss Richards
began the talk" with the statement
that the subjects chosen would be The
formation of the cotton pool and why.
! the putting into operation of the new
currency law by the opening of the
twelve Federal reserve banks, the Mex
ican war to date, and the reconvening
of the English Parliament on Wednes-
day, November II, for the so-called war
| session." followed by only brief mention
Of the European war.
At the close OF the talk Miss Rich
ards will present to the class the noted
English woman, Mrs. Pethick Lawrence,
who will outline her carefully-thought-out
plan for a constructive and permanent
peace.
In speaking OF the proposed cotton
pool' Miss Richards reminded her hear
ers that the great wealth Of our country
lies in its agriculture, the annual value
Of which exceeds the combined value OF
the output OF all the mines and manu-
features, including the railways And
of all the staples Of manufacture, cotton
is one OF the greatest, this years output
billion dollar CROP upon the sale Of
which the cotton planter was basing such
high hopes and upon which the pros
perity, indeed We may almost say the
solyency, OF so large a section Of the
country. absolutely depends. But, alas.
this cruel and destructive war, by cut
ting OF the foreign markets. has left the
major part OF this great crop upon the
farmers hands.
Appeals for Aid.
This has created not only alarm for
The sOlvency of a large section. but such
sympathy for the planter that several
plans for relief have been proposed. Both
State legislatures and the Congress at
Washington have been appealed to for
financial aid. But when il became GER
tain that President Wilson would disap-
prove of a government loan upon an
agricultural commodity as establishing
an undesirable precedent in the direction
Of ''paternalism" the plan for govern
ment aid was abandoned and the ques-
tiOn Of loan was taken up with the
banks of the country instead
The plan, briefly. is to borrow S1S5, ,0O0,-
900 upon the security offered by the baied
cotton itself. Cotton not being a perish
able commodity, but being a tangi-
BILE, enduring asset, can be storei in
warehouses until such time as the de-
mand for II is resumed and safe trans
pCTtatiOr is secured
The leaders in the plan have been IN
consultation not only with the leading
bankers of New York and other cities.
but have had the influential cooperation
of the members of the Federal Reserve
Board, including the Secretary OF the
Treasury. its chairman. John SkeIton
Williams; the Comptroller Of the Cur
rency and the five other members Of the
board. It would now seem that the nee
essary sum will be raised and the sit
uation in the cotton section will be saved
New Currency Law.
The speaker then called attention to
the fact that the opening of the twelve |
Federal Reserve banks on that day
Glonday November 16) the unexpected |
had happened; that whereas the new |
currency law had allowed itself two |
years to get into motion, II had really |
been put in operation. with its twelve |
new banks open and ready to do busI- |
ness. in less than one year. Which |
would seem to prove that upon acQuIr- |
ing a better understanding of the law |
the opposition and prejudice of the bank
ers had largely disappeared.
This would seem to be demonstrated
by the fact that the necessary capital
stock for each of the Federal Banks
instance over-subscribed." she said.
After a brief summary Of conditions
for the past six months, conditions
which continue to be hopelessly chaotic"
the speaker declared there is Just one
cause for thankfulness in the entire
Mexican situation, and that is the fact |
that President Wilson has persevered,
against all odds, in maintaining his poi
Icy Of 'watchful waiting and thus
saved our beloved country from the un-
speakble calamity of being now involved
n a war with Mexico
Miss Richards then introduced Mrs.
Pethwick Lawrence, who charmed her
hearers with an imprisoned appeal for
lid in creating a sentiment for univer-
sal and perpetual peace. She based her
Plea upon a most practical and impress
1--WE set of resolutions including a demand
'Or a plebiscite which shall be shared in
oy both men and women on two great
points before war can ever be again de-
Jared: namely upon diplomatic treaties
and political alliances and also upon the
question of war itself"
Another practical measure which
would efficiently put an end to conn
armaments of war, and
most strongly urged by Mrs. Lawrence
s that henceforth all gun works shall
De "nationalized"-or under govern
elected as delegates to all future Hague
peace conferences. At the close of her
'emarks Mrs. Lawrence was greeted
With rounds of hearty applause, and
vas presented by Miss Richards IN
many of the women present.
At today's talk Miss Richards will
present an interesting variety of up