Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-10-18
Zeal With Which They GrappIe
With Problems Credit
to the Nation.
ONE SURE TOKEN OF US.
COMMERCIAL GREATNESS
Decline in Imports Likely to Con.
tinue Long Time After Euro
pean Peace Is Restored.

NEW YORK, October 17.-In the olden
days all roads led to Rome, but during
the past week the objective point has
been the quaint. historic and hustlinS
! little city of Richmond. The 1914 con-
quest of Richmond, however, has been
a peaceful conquest, and the bankers
of the United States who stormed the
capital city of the Confederacy were not
obliged to reduce Notifications or pass
under the muzzle of a musket. The
fortieth annual convention of the Amer
lean Bankers Association last week
brought together the leaders of Ameri-
cas- financial community, and the zeal
with which these men are graphing
with the great problems Of the day is
one of the surest tokens Of America s
commercial greatness.
Probably no class of men in the COM
munity has been so unJuStly reviled and
criticised in these United States during
the past few years as the banker. He
has been the target for the carping
demagogue and the INSCRIPTIONS poll
tician, neither of which has had a sin
gle regard for veracity in the compiling
of their absurd and unreasonable COM
plants. In the violent crises through
which this country has been obliged to
pass the wisdom and the courage of
the American banker have been the chief
factors in the restoration of more happy
conditions; and this fact has been doub-
ly emphasized since the outbreak of the
great European war. The splendid work
of the bankers during the past two
months has won for them the unstinted
admiration of the American alton, and
will rebound to the credit of the bank
ing interests of the country.
Cotton Surplus Problem.
Because of the peculiar situation in
the cotton and sugar markets the
bankers of the southern states have
been confronted with more than their
own share of the burdens incident to
the financing of these great projects.
The cotton surplus, for which there is
now no commercial demand. has Gre
ated a problem the solution of which
is perplexing the thoughtful minds of
the entire southern district. Three
fourths OF the cotton product Of the
world comes from the southern states
and two-thirds Of this annual crop is
taken in Europe, SO that half the en-
tire product of the world which is
consumed across the sea is of American
growth.
The German demand is entirely cut
o. by the war and the consumption by
British and French manufacturers Is
largely diminished. There is there
fore, heavy surplus for which there
no current demand. I'd to this
moment no practical suggestion has
been offered the adoption of which
would relieve the cotton market and
save the cotton growers from their
present plight. This is not a time to
relax into paternalism. The govern
ment cannot purchase :he cotton sur
plus. 1t is quite useless to discuss
any scheme of that sort The cotton
market will not be relieved by taking
the surplus cotton out of the market
No scheme could be more ineffective
than the "buy-a-bale" project which
mas been SO widely sanctioned. Those
who buy bale can do nothing with
their purchase and the demand for cot
ton is not thereby increased All the
surplus which is thus disposed of is
not manufactured, and what is wanted
for the relief of the situation is that
the surplus shall be consumed and not
merely bought for sentiment and
stored away