The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-23


tt tt -
mr. cash r,., n. .,. r,o,.ro, .o..-,,. no.
itself har. or, nron,isos En- NV soo,,red
bv sr,ec,Ia tion H., sao,,rttt ~ ~. tra~,.ra,
Rasa,,,a poara 49,. sI,,,,,,,t Iii, ,soins
,ai,I,,, ,tit~a.,a -. . 80 ,,
asrr,,,,,,,,rai -. - -. y ... 49,,
,,a ..a,. a., sp $4,000. iro'li se.''ne ...o
-, ri " 80
~ INNS " 'o'e' "
-, ''e 's' Is, -
Wne' tne reuerai reserve ac' Map
passeu unere was p,e'"y ol LII
pe,eht comment 10 tne erect UNIV.
.le &c. itsei uIu noIihhe more e,iai'
iuihlsh plan In general outline
Tor Danklng and currency REFORM. IL
was ielt LOT tne federal reserve boaru
It's regulations in definition or the act,
~, - -. ",ao m. " ~ ,.os,,,a 81
-. ia,. 80 ,, W ,,'aI o,antn,,
20 Az ,e',ar,.o go '''o
.i,a ,ouaoan,, ~. ,.o OSCILLATIONS
rrar,od Tor tha ,,,,,,i,,ca ~ tho ncw hanks
i nor,narod uI,t, ,ha n,roa.nrv an,ana.
,;ons in .he na., go "a n b,If II
LII 10 oIt.i -. -, 49,, ,,,o,d Il.
,ha rosor,,a hn,rd,s to, -, ,,rasort afsairs
:. Il, o,.s',,,,,o,,, - -, 80, ,raoa ~
10 ,n,",',.', -, I'm. ,, ,r 10y
oxh,h;,os 1,' ,a,.ar 20 10, nroai,s ,rd a
.,N..,,, III Va '"u"p i.,t.,,iia
,hat ,nu, a,soo,,nt r,,as ga % ,,,,nfu-
-, 30 To-, ,,s'.,,, ,,'i.ia ,,,.,,,a s,i,,,-
ia,n ,a,,,a,to om,,annil. ~, ',o,,,n,ss nd
,,a,,,os e., 49,, ,.,' -, - - ,,i,,,,,-
80, ,',, .uu s Mou'u W 90 ,au
po. .'.Ie' VI iV' eie" e o 80,
ah.n, a "a - ,,,,,.e,s,,i ,,,,,,a,,,a 90 ,ha
-, 90 -, .iia ,',nn ,ha
r.poa., -, ,,s no,tnn
80, -, .ns, '.'I ,,.,,,,,,. in,n
r,rc,,,,,Ion ,t In n,,,sar,i,s 70 ana mar
~, l,"io, yas..,,n 81 10, hoor sn
, wv 90 ~ ,'oI,,io,i oonsidera,
,,nn. which might IN 10 environment
$50 $50 ,,ra,.e,,,oa Z, 49,, roachiny IN. con,
naNe pre'ei'eu IL a V,'. ., ,'.,,a,, -,
tho -eserva HANKS and their money lend
Wv. s IT,, o'N' '"
ms p0'
r,,. rus and ,h. MARKET.
With the cotton exchanges reopened
the economic relief OF the distressed po-
siton OF the cotton trade has begun
one has only to refer back three
years to the manner in which contract
trading took care OF large surplus or
cotton from a 100000 bale crop 10
understand how the restoration OF the
future market will contribute to the res
cue OF the cotton Industry from It's pres
ent abnormal troubles The huge yield
OF cotton In 1914 would have MADE low
prices under the best Of conditions, but
IL can be almost predicted as certain that
despite the handicaps which the war has
placed on all branches of the cotton trade
the contract market will be availed of
TO distribute the current surplus OF the
s,nn,e for future delivery over n long
neriod OF wears TO come
That was what happened when the 1911
,,-a,, was houeht for delivery rs far ahead
az la2O and the consequences will be the
a. 90 ir,nortant perhaps a very
g. rtr.,,rg season ends The campaign
,,htoh no, heyun in the South to raise
-. "o,,nr ord more foodstuffs is a bull
49, f,,,or which was not present three
. '.u ~ w.,
~ ,his NUS tho NcAdoo cotton pool in
,.,bar a c,,rious light. Mr.. McAdoo has
,on an ott,ci,l and personal success in
,ia,,i,r IN. stinuiatsd subscriptions
sr,,,, hanxers outside OF the South and his
achiavement may head of any fresh out
b,o,k ~ agitation I'm Congress FOR a Gov
eminent yalorization of cotton. Private
,.,Inr,,a,iou nnrticularly wnen aosolN ed
Ia, m. Federal Acknowledgement from the
Mains and penalties of the antitrust laws
Is much to b. preferred, but the attain
uent of the political object or the plan
must depend on the extent to which the
accommodation X provides is resorted to
hy the trade
Ranking interests have come TO the help
OF the Administration in TINS matter. nut
the loan fund project never appealed 10
Informed banking opinion as workable or
necessary on business grounds, To star;
II going and keep II going requires inc
initiative OF southern bankers. ana all the
immediate indications are that the South-
ern banker is most reluctant 10 enter 'hto
any commitments lhNoIN'ns recourse W
the McAdoo pool
president wilson ie,ter 10 HeeIe.al.