The Birmingham age-herald., 1914-10-17

teonnnued rom Page One) not war" in the sense that any ground was gained by either side.
 Ladylike Debate s The debate in the Senate was almost ladylike. Senator Hoke Smith read into the Congressional Record the cablegram from Sir Charles Macara on the situation as wired to The Age-Herald last night.
 The House applauded when Mann and Hefiin. who recently had exchanged bit ter words and epithets, applauded each others speeches, while Underwood im- partially applauded both.
 Secretary McAdoo today said that the federal reserve board never had ex- pressed doubt of it's power to help ad : minister the proposed Sl5o, 00,000 cotton pool fund if it should be raised The board and himself. he said. were doing everything possible to help raise the fund and will help to administer 1t success fully.
 Tt cannot be stated too emphatically that the disposition of everybody here is to do everything within the limits of human power to help the cotton situa- tion," McAdoo concluded.
 Harding to New York
 w. P. c. Harding. the federal reserve
 
 with the proposed s15O0oo,o00 cotton loan fund left Washington tonight for New York. Secretary of the Treasury McAdoo left earlier in the day for the same city and 1t was believed here tonight they expected to discuss details of the plan tomorrow with some of the New York bankers who promised to contribute S5o'000.OO0 to the fund under certain con- ditions
 Mir McAdoo went to New York to reg ister as voter, but may find opportunity to take up the cotton loan fund plan be- fore his return. The New York bankers in accepting the plan demanded that the fund be loaned to national currency as- soeiations or~to the federal reserve banks The currency associations are not empcw- cred to receive such loans and members of the board expect an effort to be made to get the New Workers consent to- direct loans from the fund to the bankers with out use Of the associations, individual banks assuming the responsibility.
 Secretary McAdoo again expressed con fidence today that the plan will go through.
 Washington, October 1e-(Special.) Representative Heflin in discussing ip the House the cotton situation in the south closed with this appeal:
 The cotton industry of the United states is so interwoven with the in dustrial. commercial and financial life of inc nation that whenever 1t is harnpered and depressed every other line of business Is injuriously affected Cotton knocks at the door of the great granaries of the west and millions of bushels of wheat, oats and corn pour Into the south. Your beef and pork and mulHs find splendid markets in the
  market place. So. my friends, when the cotton business of the south Is good the prosperity that 1t enjoys is shared by the people in every other section
 The farmers planted this year with the expectation of receiving 13 and 14 cents per pound for cotton they had received more than 12 cents per pound for the last five years The spinners expected to pay 13 and IA cents per pound and have already sold the goods to be manufactured from this crop on that basis Now the producer finds himself confronted with cotton prices below the cost of production. Surely this land of liberty. this government of the people, Is good enough and big enough to protect it's great producing classes from the cruel effects of war of kings.
 Will Benefit Producer
 If the producer can have the benefit of this money in paying his debts and carrying on his business and keep his cotton off the market he will be great ly benefited and no interest. in our country will be hurt. I do think that in case like this the Congress is justified in taking extraordinary steps to prevent the loss of millions of prop erty and the distress and suffering of 30 ,00O, 900 of people, I call upon this house to do something to give relief to the people whose prosperity and happiness depend upon the cotton pro- ducing industry of the south.
 Wherever the flag flies it's splendid fibre Is seen. Wherever the American soldier goes, cotton canvas spreads it's white wings. protecting him and hov- ering about him while he sleeps. t was behind cotton bales at New Or leans that Jackson won the victory over the British.
 Cotton has done more to maintain Americas credit abroad and to keep 1t on a sound financial basis than all other commodities combined Cotton ss the only agricultural product, every pound of which Is converted into money and every dollars worth of which con