The Lancaster news. [volume] (Lancaster, S.C.) 1905-current, 1914-10-23
COTTON RELIEF PLAN
FAILED TO PASS HOUSE
Vote, 123 Against 1t to 81 For.
Southern Members Fight.
MANY SPEAK FOR BILL.
Others Declared That the PROPOSE.
ton Was Dangerous and Would
Hurt Rather Than Help South.


Washington, Oct. 21.-The COM
promise cotton relief plan, proposed
by Southern congressman to relieve
the situation resulting from the de-
creased European demand for cot
ton on account of the continental
war, was defeated in the house to-
day. 123 to 81. The proposal con-
templated the deposis or $25O,OO0,-
600 Of government funds in South.
ern banks to be loaned to cotton and
tobacco growers.
Southern members OF the house
fought strenuously, but IN vein. for
the bill. Chairman Glass of the
banking and currency committee
and Republican Leader Mann on
posed the plan as utterly unsound."
declaring it would contrac: the credit
OF the South rather than expand it.
The cotton belt members led by
Representatives Henry and Hard
wick insisted that the plan followed
past treasury policies and that the
treasury often made large deposits
OF government funds to avert finan-
cial stress in various sections OF the
country.
The cotton relief supporters sue
ceeded In setting aside the calendar
Wednesday rule under which consid-
GRAFTON Of the cotton plan would
have been prevented for the day.
Representative Henry moved to
close all debate on the special rule
brought in for the consideration of
the Lever cotton warehouse bill. the
Glass bill authorizing the issue OF
federal reserve notes on 100 per cent
commercial paper. and the cotton re-
lief compromise
Thereupon Representative Glass
made the point that no quorum was
present and roll call was ordered
to enforce the attendance OF absen-
tees. The roll call disclosed the
presence OF bare quorum and de-
bate on the rule was closed by a
vote OF 120 to 95. All efforts to ex-
tend the time allowed under the rule
for discussion of the bills failed and
the consideration of the 100 per
cent commercial paper measure was
begun. Representative Burkeley for
the banking and currency committee
supported the bill but opposed the
amendment proposed by the cottor.
states representatives.
Many Southern members urged
the rules committees cotton amend
ment to the Glass bill for increasing
the circulation based on commercial
paper to 100 per cent OF the unim-
paired capital and surplus OF the
issuing banks.
Representative Henry said the cot
ton amendment was necessary be-
cause the Aldrich- IRELAND act had
failed to get money to the South and
because the federal reserve system
was "tardily organized.
Representative McKellar OF Ten
nessee said the house had no bank
Ing system for the producers, that
the South needs immediate relief
and was only asking what the secre-
tary OF the treasury is asking the
Southern banks to loan money on
cotton as security.
Representative Crisp Of Georgia
that It was not local. DO
htical or sectional question; that the
Southern farmer has no money to do
business on cash basis, but has
to transact his cotton business on
a credit basis because the South has
never recovered from the War BE.
tween the States.
Representative Hefiin OF Alabama
said that 30-odd millions OF people
we're asking their countrymen to put
some OF the governments money in
the banks Of the South to relieve a
caused, not by economic
conditions. but by the European war.
Representatives Burnett of Ala
bama. Brynes of South Carolina and
others pointed to the precedents OF
the South joining with the North in
the relief for the Salem disaster. the
San Francisco fire and earthquake
and the Ohio floods. I
Printing large sums OF money
never will help the cotton situation" ;"
Republican Leader Mann told the