New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-11-19
McAdoo Advises Reduc.
ing Cotton Acreage to
Enhance Staples Value.
SEES BIG PROFITS
IN FOOD PRODUCTS
Bankers and Merchants Are
Asked to Cooperate with
Farmers in New Plan.
from The Trllune Ba,s.nl

Washington, Nov. l6.-Urging that
the most important problem that the
South now has TO deal with is a ma.
terial reduction Of cotton acreage IN
1915 and the raising of food products
on some OF the acreage heretofore de-
voted 20 cotton, Secretary NeAdoo SAID
tonight that not only would this crop
diversihcaticn bring prosperity 10 the
south but that II. would immediately
enhance the value OF the cotton crop
now on hand.
Mr. McAdoo says that the creation Of
the cotton loan fund and IT'S use under
the = .n Will have a far-reaching and
beneficial influence upon the cotton
and business situation. He urges tina,
the farmers, bankers and merchants il
the South cooperate for The purpose
of materially reducing the cotton crop
of 1915 and securing a satisfactory
crop d.versihcation.
"Not only will crop diyers.hcatiOa
help the prosperity Of the SOUTH be
says, "but the mere assurance Of a
large decrease in the cotton crop mex.
year will Immediately enhance the
value Of the present crop. The food
products which the South can advanta'
geously raise on a part OF the cotton
acreage will find q ready MARIE. a,
profitable prices even II The South L.
self cannot absorb them with greater
advantage than BY buying such sup
plies from neighboring states. II the
war in Europe IS protracted the demand
for foodstuffs will grow in volume and
intensity and must be supplied in large
part by this country.
Certain Profit for Farmer.
THE Southern farmer. therefore
has m unusual opportunity now tor
changing existing methods ard habits,
with certain profit and permanent ben.
eff 20 h.mself. The recently expressed
views OF the Secretary o. Agriculture
on this subject should be read BY every
farmer in the South. The Department
OF Agriculture will gladly give infol.
nation 20 the farmers Of the soun
about the best means and methods o.
crop diversAcation suitable 10 the cor
ditlons Of each locality.
"The bankers also have IN cAec7'
tional opportunity 70 aid IN this COM
mendable work. They can, IN lars.
measure, influence the character OF
crops by imposing proper conditions
upon the advances they may MAKE %
the farmers. Where the bankers ere
not dealing directly with the farmers
the merchant who supplies the neees'
sary credit can exert the necessary ~
fuence.
"The farmers of the South ought 70
wake I'd 70 the Importance OF crop
diversidcation. There never before
was time when they could wake W
with such certain profit 70 themselves
as now. | earnestly hope ina! lns
farmers, the bankers and the merchants
in the South will cooperate win eAea
other for the purpose Of meter!al!y p'
ducing the cotton crop in 1919 ana Sc
curing a satisfactory crop c!ver'1he'
ton.
"Not only should the Sou'as'n
farmer plant food crops, but ne 90.
raise cattle and poultry VITA gree,
benefit 70 himself and INC country
large. He cannot do this, however "a
less he reduces cotton acreage "N'
raises food supplies
Cotton Loan Committee.
According to the Secretary's sag,
ment the cotton loan fund wiz w
supervised by a central comm zee SVn .l
Dosed of the members Of the tedelM
Reserve Board, Mr. McAdoo ana -
SHELTON Williams, Controller o.
Currency. the last two named OT,ns a..
ofscio members of the board. The &C.
tive work, however viii De IN tne ~. 49,
of the Cotton Loan Committee Nh.
will consist OF W P. g. Harding ,sare
ington, chairman; Paul NJ na'y New
Washington; Albert II. Wiggln'v ~.
York; James s. Alexander, New to'I
James 3. Forgan. Chicago; psils.
Wade. St. Louis; Levi j. k.e, Ros.
delphia, and William A. CASTOR
ton. -, Con-.
The plan gives the Cotton L Loan LII IN
mittee power 20 appoint comml'...ss. 81
each of the cotton producing s c',g,,
Alabama. Arkansas. Florida D sOii'n
Louisiana. Mississippi. North CalO', IA
Oklahoma. South Carolina leAss on
Tennessee 70 assist 10 10 cai'''"s
the practical work.
The cotton POOLS headquaTter.' y Sos
will be established az the NeS -;.ker.
Clearing House. with Edward 4. IA.
jr., vice-prosident Of the OnslSV;r Of
tional Bank. and S f Ward easn' req.
the National Bank Of CommelS'' ,isx.
resenting Messrs. Niggln az smbers
ander, respectively, New VOTE n ," n the
of the Cotton Loan Commitsee,, 90.
carrying out Of the details OF go $50 Ma
Grafton. ". p. Holly, OF the on' ~ the
tional Bank, who is secre'aIS hss
national Sl000O0,000 gold pvO pool
been made secretary OF the ''''N
as we'll