The Birmingham age-herald., 1914-08-06
Everything Possible Will be Done to Maintain Prices
 on Cotton
MUCH CAN BE DONE
 IN NEXT SIXTY DAYS
Efforts Being Made t0 Provide for Storage of Product After Par tial Advance Payment
 Has Been Made
By c. E. STEWART

Washington, August 5.-(Speeial) )-That calmness should prevail in face of the present crisis with reference to the cotton crop of the south because of general Eu- rorean hostilities. is the opinion of the southern members of Congress. Every thing possible that can be done to avert disastrous crumbling of prices and to con serve the present value of the crop by Congress will be done.
 Above all, argue the southern members, it must be remembered that the world s supply of cotton is limited and while the demand for the present will be curtaied and shipping facilities will be hampered in the end the world must have it's supply of cotton. and when the demand is in position to be filled it will be doubled or trpled because of the inability of the Eu- rorean markets to get their supplies now.
 In the meantime the cotton mills in this country will be put to the most exaeting test to fill the demands made upon them for goods because of the fact that Euro pean cotton factories will in the main go through q period of enforced idleness. Sixty per cent of our cotton ordinarily goes abroad this percentage of exports for the present crop will. of course, be cut down. Although it is generally be- lieved that Great Britain will so domi- nate the seas with her powerful navy that England, France and possibly Rus- sia may be able to receive at least a considerable part of their full quota Of American cotton, to say nothing of Japan and China, there can be no doubt but that Germany will be- entirely shut out. The fact that no American goods can go to
  iea, will in a way, too, seriously hamper the cotton mills in this country, insofar as it will be effected by dyed goods. Ap- proXimately 80 per cent of the dyes used in the manufacture of dyed cotton goods come from Germany, and the United States manufactures only about 10 to 15 per cent of the dyes used in this coun- tFy. This will. of course, criple the man ufacture of dyed cotton goods. but there will be DO limit, except the number of spindles, as to the undyed cotton goods which may be turned out by our mills, for which there will be an unceasing demand.
 Sixty Days Before Marketing
 In tlfe meantime there are almost 60 days to pass before the beginning of the marketing of the 19l4-15 cotton crop Much can be accomplished in that time espe- cially when the southern members in Con Sress are fully alive to the situation and dlt htliGil6 every fIIOfl To devise WaXS and means to prevent a wholesale slump in cotton values. Many believe that the European war will be of short duration It IS inconceivable how war of the magni- trde that at present threatens Europe can last long. Decisive battles will be fought early on both land and sea- and With the size of the forces representing all the nations in the struggle the finances Of Europe will stagger under the enor- nous load it carries. A six months war will practically bankrupt the kingdoms and empires engaged, and in the face of depleted treasuries and lack of food sup plies the war will end.
 On the other hand, the United States is in position to fully protect the finances of this country. Emergency measures have been taken by Congress and the treasury officials, it is true, but they are merely preca utionary. With the CO., operation of the government it is more tfan probable that the southern members of Congress will be able to work out d plan that will save to the southern farm CT the fruits of his labors in producing the prCs sent great cotton crop.
 Several Suggestions Made
 So far there have been several sugges- tlons made to the best manner and methods the government may adopt to help the producers of cotton in this
 
 plans it is quite likely there will grow some arrangement whereby the cotton producer may store his cotton and ob- tain certificates upon which he may re- ceive a fair percentage of it's value while the cotton itself is held until such time as 1t can be marketed to the best advan- tase. If this plan can be worked out on a satisfactory basis between the southern banks and the treasury. it undoubtedly Will be it will save the south hundreds Of millions of dollars. for every cent a pound that cotton falls off deals the south a staggering blow to the extent of $70,Oo0 GOO
 ne success of this plan, or any other plan must necessarily depend in a large part upon the hearty cooperation of the farmers themselves. They must view the situation calmly, and refrain from becom- Ing panic stricken over the difficulties confronting the marketing of their crop. An avalanche of cotton thrown early upon the market will demoralize prices the re- cuperation of which under the circum- stances will be difficult The inaugura- uoh CT the federal reserve system will afford further relief to the financial sit- nation and make it possible for the banks