The herald and news. [volume] (Newberry S.C.) 1903-1937, 1914-09-04
TO HOLD COTTON
FOR Il CENTS
PLAN ADOPTED BY STATE CON.
FERENCE
Reduce Acreage 50 Per Cent in 1915,
Substance of Resolutions Pas
Sed.
News and Courier.

! tons proposed by the Sumter delega
ton to the effect tlat all cotton should
be held off the market until Octo-
Der /, unless II cents per pound is
obtained for it, that one third of this
years crop should be held for one
year if necessary to secure II cents,
that the acreage in 1915 be reduced
80 per cent of that planted in 1914,
that a canvass of every county in the
State to secure signed pledges for
such cotton acreage reduction be made
at once, and that the president and
executive committee of the association
be empowered to memorialize the gov
! ernors of the nine principal cotton
! producing States to call their legisla-
lures in extra session to enact the
, necessary laws to carry out this plan.
Resolutions offered by W. D. Black,
of Barnwell, providing that the cotton
producers offer to the fertilizer COM
panies as additional collateral their
cotton sor them to hold for II cents a
pound for one year, if necessary, on
the condition that the fertilizer COM
panies renew the farmers notes for
one year, that the fertilizer companies
sell only one-half as much fertilizer
nexh year as they did this year, and
that the cotton producers offer to the
banks their cotton as additional Sc
curity for t. cir debts, the cotton to
be based on the price of II cents
pound and the banks to~hold it one
year, if necessary, at that figure, were
also adopted. The idea is that this
would retire about 100000 bales and
keep it off the market for one year,
and tat the surplus of the cotton crop
would be bought up by the mills at II
cents. Giving 100000 bales to be dis
posed of in this way.
Senator Smith ATTENDS.
United States Senator E. D. Smith
attended the conference and called at
tention to the present crisis and of the
need o.: providing storage room for tie
cotton, the distribution of the emer-
gency government money through the
small banks in cooperation with the
larger banks to the small cotton pro-
ducers and the necessity OF legislation
to prevent a duplication OF a large
cotton crop in 1915.
Senator Smith said ne thought it
would be a blessing to the South If not
bale OF cotton was planted in 1915
and ne heartily endorsed the sugges-
ton to prevent the planting of e
more than so per cent acreage another
year by legislation.
The senator explained that the cry
ing need was to provide warehouse ia
cilities and he thought it would be
good idea to memorable insurance
companies to permit cotton to be stor-
ed on skids in suitable places under
guard. The senator explained the plan
to get government aid through tae
banks to finance the crops, and offered
the following resolution which re
promised to present to congress and
which he thought could be passed by
/ that body:
Smiths Resolution.
"Resolyed, That this meeting hereby
memorable congress to materially re-
duce the expense of issuing currncy
under the Vreeland-Aldricn bill to the
banks, provided the benefit thereby ac-
ruing be accorded to tie planters deal
inc win the banks to the extent of the
reduction so provided" The resolution
was adopted unanimously with cheers.
Senator Smith entered earnestly in
to the discussion and amde it plain
that he was doing everything in his
power to get money for the famers. "lf
were governor l would call the leg
islature IN extra session tomorrow,
said the senator, while the audience
applaudeG Senator Smith thinks the
important thing is to pass laws max
ing it mandatory to reduce cotton ac-
reage at least so per cent next year.
". F. Stevenson thought such laws
could be passed by the legislature un-
der the police power, and set forth the
position forcibly.
DR.. Wade Stackhouse Of Dillon pres
,ident; B. F. Taylor of Columbia sec
retary; Commissioner E. ]. Watson, I.