The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1914-12-22
Lever Warehouse BillAdOpt-
ed by Vote of 21S to 81.
Similar Measure Has
Passed Senate
UNDERWOOD MAKES
SPEECH STRONGLY
SUPPORTING BILL
Establishment of Uniform Warehouse
and Uniform Warehouse Receipts
Is the Object of the
Measure

Washington, December 2I.--tspecial.1
As "A measure of practical relief for the
south In the cotton crisis the House this
afternoon passed the Lever warehouse
bill, which, ms the Hoke smith bill, al
| ready has gone through the senate. The
vote in its favor was 2iS TO %. with NIL
the Alabama members voting for u ex-
cept Representatives Blackmon and
Harris, who were not present.
The great margin In favor of the bill
by Representative Underwood. in the
course of which he said;
when planters cotton is stored in a
private warehouse. the extent to which
people believe In its value is measured
by their confidence in the integrity of the
| planter IL the cotton be stored in county
warehouse their confidence In it's value
will be proportionately greater, and so.
too with a state warehouse. But when
you come to the national government.
when 1t has the right to inspect ware
| houses and issue certificates. the comb
dence m values will extend from one end
of the country to the other.
Days of COS
Il recall the days back In the COS, when
there was little sale in our section for
iron and steel. AT that time great
| company established one yard and issued
warrants for pig iron showing where
stored, etc, and while 1t stlll was hard
to sell pig iron, these warrants could be
negotiated because wen who took them
! knew they were guaranteed by :-aeat
lcorporafion and Il will be the same thing
In the case OF cotton.
'1f you pass this bill. the man who
places his cotton in a warehouse can take
his certificate to any part of the United
States and no one will hesitate to nego-
tiate 1T
Il regard this bill as one Of the most
advanced steps that have been made each
year In the interest OF agriculture"
Levers Statement
"This BILL" said Representative Lever.
in speaking of the measure. will result
in the establishment of uniform warehouse
and uniform warehouse receipts for agri-
cultural products throughout the country.
II will give a certainty and value to ware
house receipts which viii make liquid tlle
evidence of ownership of great products.
1t will enhance the value of warehouse
receipts as collateral on which loans may
be sought by producers. 1t will give
greater negotiability To agricultural re-
oepts for agricultural products.
The measure viii bring together more
closely agricultural products and banking
capital. 1t will result In larger storage
facilities for agricultural products and
will serve as an incentive TO farmers to
store their products and thereby save mill
lions of dollars of weather loss each year.
1t will furnish to the farmer for the first
time in this country the machinery
through which he not only may know the
class or grade of his products. but its
commercial value. 1t will put him in a
position to market his crops when the de-
mand Is strongest and the price highest
II is a farmers bill and a most far each
ing forward step In our cumbersome sys-
tenn OF marketing"
The bill is not compulsory in any way.
GARNER.