The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1918-09-18

Washington, Sept 13-President
Wilson. announced today that a fair
price for raw cotton would be fixed
if that should be deemed necessary
after the committee TO be appointed
by the wal industries board has COM
p!eted it's inquiry into the general cot
ton situation.
During the investigation a separate
committee of three, soon to be named,
Will buy cotton for the use of the
United States government ard the
allies at prices to be approved by the
president. Since most Of the cotton
of the country is required for war
uses, this government buying IS ex-
pected to stabilize prices
The president said that the pur-
pose Of the investigations to be con-
Quoted by the committee to be nam
ed by the war industries board is to
channels of distribution and use OF
the great stock Of low grade cotton
now practically unmarketable, for
eliminating speculation and boarding
and apportioning foreign orders. The
presidents statement follows:
ssThe demand for high grade cotton
which is out of proportion to the
available supply and the fact that the
government through early agree
ments with the Allies, must act as q
common buyer for allied purchases,
make it necessary to secure some ba--
sis of distribution Of all grades of
cotton Based on the standard
grades established by the depart
,.ent of agriculture an effort will be
made to provide wsy by which the
| low grade cotton viii be brought to
| tsale and use alons: with the high
I grade cotton at reasonable and just
prices.
'It is believed that by this course
both the producer and consumer will
De better protected than by cont:au-
alton of the present chaotic condi-
lions Of the market.
1.-The plan is to create, subject TO
the approval of the president cotton
committee to devise methods for (at
broadening the channels of distribu-
ton and use Of the great stock Of
low grades now. practically unmar-
ketable41 (bJ eliminating speculation
and boarding and sfc) )appoItioning
ssIt may be part Of this connnft-
tees duty to recommend basic prices
on cotton IF, after investigation, it
is found necessary a fair price will
be fixed
| During this Investigation and in
order to avoid stagnation, a separate
committee OF three is being set up
with the authority to buy cotton for
ne use OF the United States govern
n,ent and the allies. at prices ito be
approved by the president
The presidents statement, it was
| explained, was issued to avoid misin-
depreciation OF statements by the war
industries board concerning the sta
bilization of the cotton indusry. Price
fixing Of cotton has been vigorously
opposed by senator's from Southern
States, who have had several confer
ences with Chairman Baruch Of the
board. They contend that the law OF
supply and demand should continue
to govern the price.
Decision Of the president and the
war Industries board to investigate
the cotton situation followed closely
the recent announcement of the de-
;,artment of agriculture that droughts
over the belt in July and August had
reduced the proEa::le yield from the
estimate of about 1928. .000 bales to
Ii, 1877 900 BALES. After this forecast
was published the price of cotton
rose $40 a bale on the principal ex-
charges.