The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1914-10-13
ARE PRESENTED
With North Carolina
Delegation and Officials
Farmers Union Concerning
Cotton Situation; Dr.. Alex
ander Says Farmers Union
Is Simply Striving to Serve
the Farmers
(By W. e.

tI5y w. II. EIIt III
Washington, D. c., Oct. 10.-The
following account of the meeting Of
the North Carolina delegation and
North Carolina officials of the Farm
ers' Union with the President Wednes-
day morning. The statement of Mr..
North Carolina newspapers by Repre-
sentative Small, dean of the delega-
ton. a brief statement of the meet
ing was printed in the News and OBJ
servers Washington disptches Thurs
day morning. The StatementO f MIR.
Small follows:
The President heard again this
mor94hg a discussion Of The cotton Sit
uatiOn.
THE North Carolina delegation in
Congress met the President by an
pointment, and with them were DR.. H.
=. Alexander, president Of the State
Farmers Union, Messrs. J.. z. Green
ana w. ii. Gibson. Senator Overman,
by request, made the opening state
ment to the President. He pointed
out the paralysis Of the cotton market
and the dire results to our cotton
growers and many merchants if the
M were compelled to sell their
cotton at a price below the cost Of
production and if they could not store
their cotton and borrow a reasonable
sum upon such proportion Of the croD
tAC0iA HE
market. He further stated that so far
the North Carolina farmers were de-
cilnlng to sell their cotton at the pre-
Vall1ng prices, but thai a more severe
crisis would be reached when the mer-
chants and the banks made peremp-
tory demand for repayment of the
loans they had made in helping nro-
duce the crop. If the grower should
thus be compelled to sell even q pro-
portion of their crop at a sacrifice. If
was feared that prices would still fur
Their decline.
President Deeply Interested
me president expressed his very
deep interest in the situation and stat
ed that he had already given the mat
ter most attentive consideration and
a conferred many times with the
secretary Of the Treasury and other
officials. He said this was a problem
TO be solved not with our hearts h1t
with our heads, n that in finding q
soiution we must not unduly disturb
the Fabric OF our currency system. in
the maintenance of which farmers
we're as deeply interested as my other
class or citizens. He pointed ol1t that
the basic trouble was the Diminished
demand abroad for our cotton. caused
Dy the European war, and however,
much we might desire to do so there
seemed no immediate opportunity of
bringing this war to a close or ~ ~
storing the demand by n "a ~,
process. IL
. MI. small, among others. CALLED to
the attention of the President the i'm
perat1ve necessity Of
something like five million bales of
colton from the market at the present
-, "nu me necessity of furnishing
currency to the banks with whioi, IS
lend money upon cotton az sacur;+n
upon the oasis to be agreed unon ~,
the banks and the borrower. In +h;s
tile fieSloent agreed and he expressed
deep interest in the plan initiatad ~.
WI; r.. Wade, Of ST. Louis. and 9th.
er X who proposed to raise IN
million dollars to be placed in 49,
ton WI States for this varv 49,
pose. He said that Treasury Dono ~
lneht ana the Federal Reserve Roara
would do all in their power to enco"s
age the carrying out OF this NAV
neielence Was made to the national
currency associations formed ~ ~
several States under the Aldriob.vn.an ne
lana law. The President was told 49,
the national member banks in th;a 80
ISOLATION in North Carolina baa as
taken the amount of currencc ~
when tney were entitled. and tbat
80 "e ouiIehcy which had been
which had been deposited bad Iuno
ca the farmer, the merchant = 49,
STATE banks, n it was heliaroa
vas true in the other cotton Sta+ an
IT. very earnestly nra
sen'eo ms views to the Presiden.
anu received a most attentive 80
ong. ne emphasized the distressing
and asked for relief.
Says Ample Currency
he iIeSident expressed the oni,
ION tnat there was an ample yoIt,ne -
currency In the country to furnish snch
ehel as was practical, but that II vas