The Birmingham age-herald., 1914-12-23
eral secretary of the Chamber of Com

eral secretary of the Chamber of Com- n,erce.
 Several intelligent owners of cotton, farmers and merchants, have suggested to the Chamber of Commerce, that movement should be started In Montsom- cry to organize holders of cotton in the largest producing states for the purpose of destroying several million bales Of the staple by fire In the hope that the market would quickly respond to this reduction In the stock on hand The character Of the Montgomery men who have ex- pressed a willingness to promote the movement makes the idea worthy of con sideration."
 The Advertiser, in editorial comment on the proposal. remarks that "the plan may be and is open to several objections, put is altogether worthy of discussion
 The plan proposed has two defects. O It involves complete loss of property equal to the sum the cotton destroyed is worth in normal times. Such a desperate re- sort is the last word in inefficiency and incompetency. It sacrifices the unique ad- vantage that cotton has as a farm prod uct-its storability-and substitutes for the inconvenience of delay the certainty of known loss. CD The effect will neees- essarils be temporary, and if 1t succeeds will clear the market as to encourage overproduction again next year. The efA feet desired can De brought about, with ia very few months, which we can live through by economy, by an agreement to limit the acreage of next years crop.
 The immediate problem is to get our surplus cotton out of the market and out of competition with the years crop.
 Burning it will do this in a sensational way that, because of It's advertising pow er may have immediate effect on the markets of the world. The loss occasoned may or may not be compensated by the increased price of the remainder. But we
 should not adopt such desperate and devastating measure if there is a method of holding that is definite and final enough to convince and influence the market. There Is such a method, both practicable and possible. Let the surplus cotton be given to the colleges and universities of the south to be held by them. Through the cooperation of the various college and university boards with the boards of trade of the principal cities an or sanitation should be effected making the whole movement conditional on the con tribution of definite number of bales distributed through the various cotton producing states. The colleges should agree to hold the cotton and never to market 1t under a stipulated price. They could be pledged also not to market it at all until after seeding time next spring and to take no advantage Of any cot ton loan funds.
 This would immediately and forever remove the surplus cotton from hurtfu competition with our crop. The move ment should be continued until the mar ket responds satisfactorily. Meanwhile the knowledge of this reserve would have an extremely beneficial effect in restrict ing the cotton acreage and encouraging d4versification next year.
 This plan obviates all the objections to the proposal 10 burn and secure all the results aimed at, while offering very de- sirable advantages of It's own. It does not occasion the complete loss of our surplus cotton, but rather insures full realization of It's value in a way that actually benefits the grower. The poten- tial presence of this cotton In next year s market will, furthermore, encourage di- verslfication. Instead of destroying by fire a crop that has already been made We shall be destroying a crop not yet made. Or rather we shall be changing the valueiess and depressing surplus of this year into highly valuable food crops that will take it's place in tho crop of next year.
 This Is not the place to develop the subject of our educational needs. That will be a part of the work of the cam paign when 1t is taken up. There can be no doubt that the south Is realizing the necessity of developing great edu- cational systems. Two really great uni- versailles in Atlanta and Dallas have be- gun in the last year with resources of several million dollars of southern money. This year of tremendous changes presents us with an unique opportunity for a splen- did educational development.
 As to the probable effect on the market of the two methods of removing the sur plus here considered that is a matter of some uncertainty in either case. It seems likely. however, that great. sane. and patriotic movement to endow our educational systems with our surplus would have more immediately and steadily beneficial effect than a policy of self-destruction. In reality 1t would be more impressive and dramatic than the policy of burning. Looking past the cataclysmic events of the present we should seek policy that will steady the market of future years by adapting the supply to the demand until demand is fostered and enlarged. Yours truly, DAVID M. KEY.