The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1915-08-26

Mr. Harding. addressing the Alabama
Merchants association in Birmingham
dast night, spoke as follows:
"A discussion of the cotton problem by
member of a government board, under
conditions now existing, involves some del
icate considerations, and it must be dis
tnctly understood that what shall have
to say is an expression merely of my per-
sonal views as far as it seems proper
Tor me to express them, and must not be
regarded as rejecting the opinions of or
! rs being binding in any manner upon any
person or official other than myself.
Not since the days of the civil war has
cotton occupied SO prominent place in
International affairs as at present. By
Virtue of its use in the manufacture of
propulsive explosives, its possession has
become necessity to the nations at war.
Great Britain and her allies, having prac
ucai control of ocean transportation, an
nounced, some months ago. their purpose
OF preventing shipments of cotton from
reaching Germany and Austria, either d.
reotly or through neutral countries The
orders in council which became effective
of protest in this country. the position
being taken that no belligerent had the
right to interfere with the shipment of
non-contraband goods from a neutral
country to another neutral country.
Orders In Council
while these orders in council have
bpen the source of much irritation, it is
Veaimed that they have not been effective
In accomplishing their object, and the
marked increase in exports of cotton from
this country to Holland and Sweden, as
we'll as to Italy, up to the time that she
'-2lso became involved in the war, would
indicate that Germany has been receiving
practically her usual amounts of cotton
through neutral countries. 1t is now a
matter of public knowledge that the Brit
ash government and its allies have de-
ciared cotton an absolute contraband, by
which it Is understood that 1t will be
subject to SEIZURE even when consigned to
neutral countries unless the shipment is
made in accordance with the terms and
limitations of the proclamation declaring
1t contraband.
AS the annual takings of American
cotton by Austria and Germany amount
to about 100000 bales, the attitude of
Great Britain and her allies has created
much uncertainty in; the cotton trade, and
great apprehension on the part of pro-
ducers of cotton IN the south. 1t is well,
In discussing the present situation, to
keep certain basic facts before us. The
census bureau, in its bulletin of August
IA, states that the worlds production of
commercial cotton. exclusive of linters,
grown in the calendar year 1918, as COM
piled from published reports, documents
and correspondence, was approximately
nj baf
the consumption of cotton, exclusive of
linters in the United States, for the year
ending August 81, 1914 was approximately
H,223000 bales of 500 pounds net The bull
letin further calls attention to the fact
that, except for/the United States, cotton
included in these figures refers almost ex-
clusively to that used in spinning land
does not include large quantities which
ere consumed in the manufacture of felts,
fbats, etc.. 1t is, therefore, fair to infer
that. while there apparently remained a
year ago out of the cotton grown In 1918,
he equivalent of about 100000 bales, the
worlds requirements absorbed practically
the entire production of the year 1913 The
American crop grown that year was about
l4,600,OO0 bales, SO that the amount grown
In other countries amounted to about T.
$4,000 bales. The Financial Chronicle es-
climates the total visible supply of cotton
in the world on August~13,s1915, to be A.
255,77s bales, against s,s91,413 bales on
the corresponding date in 1914, an excess
In sight this year over last of about l.
$4,000 bales.
Stocks In Europe
Stocks in Great Britain are estimated
at 100000 bales more than last year, while
continental stocks are put down as being
10000 bales less. Stocks at Hamburg,
Bremen and Trieste are placed at 5000,
against $4,000 at those points last year.
Stocks at Genoa, Hayre and Barcelona
show an increase of about $4,000 bales.
The stock of American cotton in sight on
August 10 is placed by the Financial
Chronicle as 2,94o,776 bales, against 1,56l,- |
413 bales on the same date In 1914 the
distribution being as follows: