The Birmingham age-herald., 1915-07-30
SEE MOTIVE BEHIND AGITATION ID STIR !. PLANTERS OF SOUTH Harding's Words on Cotton Are Always Given Great
 Weight in East STRIKES INCITED
 WITH LIKE PURPOSE Business Men Pleased With Attitude of Federal Trade Commission
 Toward Industries of
 the Nation
Fly HOLLAND


 | New York, July 29-(Special. .)-The only
 perplexing problem which remains to be
 solved is the country is to experience the prosperity next fall which is so generally
 expected is associated with the cotton har-
 vest. Not much is heard by the public
 in the larger financial centers about this problem. But it is seriously discussed and by none more earnestly than by
 some Of the bankers and by one, at least, or the members of the federal reserve | board at Washington, ", P. c. Harding who represents. so far as it may he said that any member of the federal reserve
 board Is representative of any special section of the country, the southern states. It has always been the belief in
 the financial district that one of the
 reasons which led President Wilson fav-
 orably to consider the appointment of MT. Harding as member of the federal re-
 serve board was based upon the latter's familiarity with the cotton situation in
 the south His great success in building
 up an influential bank at Birmingham
 was in part due to his familiarity with
 the relation of the cotton growing indus try to the banks.
 MT. Harding has spoken several times in
 public. sometimes in the way of counsel. occasionally with mild monitions. but al- ways in such a manner as to show that ne has excellent understanding of the re- iation or the cotton-growing industry and
 the marketing of cotton to the general welfare of the entire country. The New York Clearing House has reflected every year much of the marketing abroad of cot ton A great master of foreign exchange Tn New York city handled in, one year hundreds of millions of foreign exchange drawn against exports of cotton.
 The money value of our cotton exports has upon several occasions created tha Visipie or apparent favorable trade bal ahce' One year the money value of our cotton exports was almost exactly equal to the ngures reported from Washington ol our visible trade balance. Were if not for England's heavy purchases of cot ton, our greatest trade with any nation would be that which we have built up with canada. There can be no clogging of or serious emparrasspent to the cotton mar ket without causing embarrassment in all lines of American finance or industry. AL tnis tune, there seems to be an effort under way to create view, especially in the eotton-planting states, which Is al- ready causing anxiety It is asserted that the cotton planters of the south are be- Ing put to grievous anxiety by reason of the attempt which Great Britain is mak- Ing to prevent American cotton from
 inding market in Germany Some as-
 poets of the legislation suggest that if
 may be political, not in the sense that it IS being made in the interest of either or our national parties but for interna- tionai polgucal effect. Private intimation which has been received in this city within a QaY or two seems n ha ltlcal scheme lis being worked for all IL IS worth. Strong efforts are under way Tor the purpose of creating belief that unless England Is forced to permit Amer lean cotton to go into Germany then next 1ali the southern planters. or many of them, Will be perilously near bankruptcy" Excellent authority reports to some of the bankers of New York .city that this agitation, unless it be stopped is likely to prove injurious to the south. To quote rom recent communication received Tn thls city from very high authority, This agitation is carried on for the pur- pose of creating hostility to Great Britain and to persuade the southern planters that they will be in danger of bankruptcy unless Great Britain is compelled to back down and allow American cotton to go into Germany" There are some features of this agitation which suggest that the same principal or original agitators of | this kind are in sympathy or good under standing with others who seem now to be attempting to persuade American skilled | artisans to strike, and thereby embar- l rass or paralyze American industries which are manufacturing munitions of war bought by some of the belligerent nations.
 If the view held in this city is sound, then the only way to crush this agita- tion Is one which is in the hands of the ha of tba foJo If. tricts. This can be accomplished by as- | surances to every cotton planter in the south that he will be protected by the banks and need feel no apprehension that unless England calls off her embar- go on cotton intended for Germany she will become bankrupt.
 More Government Cooperation The example set by Secretary of the Navy Josephus Daniels in summong the inventors of the United States into CO., operation with the navy department is