The Anderson daily intelligencer. [volume] (Anderson, S.C.) 1914-1915, 1914-08-25
SECRETARY bseApoo MAKES
PLAIN STATEMENT ON
SITUATION
is VERY OPTIMISTIC
Says There IL. No Cause For Elk.
element Tha. Ssovernment I
VIII Assist IN Every Way
(By As=ee..a...sSSS Associated Press)


Washington, Aug. 24-Representa-
tivcs Of the various Sbran ches OF the
cotton industry. an conference here
today with the federal reserve board
and other government officials, were
assured by the secretary Of the treas
ury that properly Bnscguarded ware
house receipts for .cptton would be
made the basis for currency issued by
the new federal reserve bank.
The conference immediately took up
the question Of proper warehouse ia
cilities, and discussed the details of
financing the crop !; Secretary Nc
Adoo told the delegation that the dis
position was to make not only Gotten,
but tobacco and a,l other staple pro-
ducts, properly secured" the basis Of
bank credit.
Cooperation Needed
The conference which !. represents
cottS1 growers, merchants, bankers
and manufacturers from twenty-five
states, after morning session With
Secretary McAdoo, and the ,sressrYe
board. called on Presis issont Wilson. He
assured them OF the fill cooperation
Of the national goyayhment in their
Ing cotton farmertlSEh result OF the
closing OF the Eararhn markets by
war. The president 5ged ,thst: every
interest do its best sa# help itself
\ am not willing ito believe" he
paid, that tnes6 conf ssre1ces Are In
tended to call upon onth6;government to
rescue men who sknpR how to take
care OF themselves. ibEb they are called
for the purpose. sof sS@nior counsel
and ,for pbte esIgss at isposal :of Inan.
who @kn0Ss how to lzSs care of them.
selves every ylegi innate ainstrtmental-'
ity OF the government itselfs
VIII Solve FnehIela.
"The conferences that we have held
In recent weeks have done vast deal,
first Of all to clarity problemS, and
second. and perhaps mdre important,
to show how by cooperation we can
solve the problems. Not all OF these
problems are going 4o, be- entirely SOL
we'd, because of the ,circumstances arc
OF such extraordinary difficulty, but
they will come very near to being SOL
we'd, l, fer one, have no doubt-pro-
vided, always we keep cool, AVID think
of these things in the same self-pos-
sessed temper we would exercise II
conditions were not extraordinary. !.
We are not to be run away with by
sudden excitement; we are not to be
imposed upon by unusual conditions;
and the minute we sit down together
/ I'm sure that we can work things
out"
The conference this afternooN de-
voted considerable time I'd discussing
warehouse facilities. S. .ST, Morgan.
OF Richmand, Va. representing the
Virginia Caf0line Chemical Company.
said that following the secrex,rS's al.
nouncstnent h6 company had made
all ARRANGEMENTS for building cotton
warehouses ,througho,tt d the South
from North Carua,na Ii, Texas. He
said that the engiheers had estimateii
thSt warehouses could be built for
from ;S5oQ 70 $1,000 each, TO store 1000.
TO $500 bales.
q: Il warning
81 P0atr:..Nster General SBurieson urged
the cotton representatives to disregard
the many radical plans proposed for
dealing with the situation, such as the
Of cotton. and to concen-
trate their efforts towards plans which
would he ipraetical under the law. He
pointef out The Limitation 5;of the bank.
Ing lazy and urged that any plan b.,
made 70 conform with them HG.h the
postmaster general and THE secretary
~ sia 1 ana sSSs nss, WArheo egaAlnst hyste-
The discussion this afternoon de-
veloped n sentiment favorable to the
proposed purchase of sallfps by the
for fs,e frreittra5 trade r.