The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1914-09-22

Of GOVERNORS
NEXT MONDAY
SEVEN HAVE AGREED TO MEET
AT WASHINGTON TO DISCUSS
PRESENT COTTON SITUATlON-I
FEDERAL TAX.

Washington, Sept 21,-Seven south
ern governors have signilied their
willingness to be here Monday, Sept.
2S. for conference with southern SEN
ators and representatives about the
cotton situation, and it is likely the
conference will be called for that date.
Governor Cruce of Oklahoma, Cover
nor Brewer of Mississippi Governor
Hall of Louisiana, Governor O'Neal of
Alabama, Governor Trammell of Flo
rida and Governor Craig of North
Carolina, have given affirmative re-
plies. Governor COlqutt of Texas
SAYS that if he can come at all, that
date will be acceptable, while Cover
nor Hayes of Arkansas and Slayton of
Georgia gave negative answers. Gov
ernor Blease OF South Carolina has
not replied, and Governor Hooper Of
Tennessee said he would send a re-
preventative.
Last nights conference resulted in
nothing definite concerning the feder-
al taxation scheme for reducing the
1915 production. Senator Hoke Smith
read telegram from Governor Col
quit of Texas, agreeing that the fed
eral government should impose the tax
and venturing the opinion that con
certed action by all the states along
this line could not be secured. Mem
bers of the conference, however, are
against the federal tax idea and it is
predicted that it will not be supported
by them.
Representative r. l.. Henry Of Tex
as has telegram from Governor Col
quit to the effect that the cotton
conference with only four dissenting
votes indOrsed the direct loan of cur
rency at 3 per cent on guaranteed cot
ton warehouse receipts.
Coquitt and Henry Exchange
Messages
Governor COlquitt said:
Il want to add my hearty indorse
ment OF your efforts. Situation is on'
beyond control of individuals. Nationa
banks are absolutely not aiding cottoI
! farmers with emergency currency. Tn
less the national government and the
state can aid the present situation
with enormous cotton crop coming OF
the market in October, bankruptc!
will overtake thousands of people ii
cotton growing states. The United
States treasury has often placed hun
dreds of millions Of dollars of gov
ernment money in banks for their pro
lection. Why can not this be don,
to save the farmer and the merchan
in this emergency"
Today Mr. Henry replied as fol
lows:
"ln the panic of 1907 the govern
ment deposited public funds withou
interest in New York City banks to b
d loaned by them to brokers, stock gan
blers and spectators for the purpos
of steadying the stock market and re
lieving financial distress among sue
individuals. J. Pierpont Morgan thu
received $39,OO0,O00 of the people
= money without interest to be distril
uted between his favorite banks an
, individual borrowers. He was heralC
5 ed as a benefactor and patriot in tn
belief that he was using his OWI
funds, which proved to be the govern
ment's money, as shown by informj
f ton leaking out many months afte'
: ward. Morgan was not even an office
, or director of any bank or trust con
! pany. The cotton people of the sOut
are entitled to the Advancement, a
loans, of public money on a bette
l security at a low rate of interest, i
war crisis, through deposits mad
in banks to be distributed to our di.
tfessed cotton growers"
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