Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1918-04-26
CONGRESS NOT THINKING
OF FIXING COTTON PRICE
Introduction of Emerson Bill
Has Had Effect on Sale of
Liberty Bonds in South
BY THEODORE T1LLBR.

BY THEODORE TILLER.
/ WASHINGTON. u. G., April To-
| Members of congress and treasury de-
partment officials have learned with
comparative amazement that the intro
duction of the Emerson bill, fixing the
price of cotton at 20 cents per pound, is
/ retarding the Liberty Loan campaign in
some sections of the south.
Secretary McAdoo's office received
| telegram to this effect from the New
| Orleans cotton exchange. 1t was sent
| by the Liberty Loan bureau to the house
committee on agriculture.
! Chairman Lever, of that committee.
who comes from the cotton growing
state of South Carolina, expressed sur
prise today that the Emerson bill is
! somehow being advertised in the south
| whereas no notice has been paid to the
Goodwin bill which proposes Accent
NCotton.
/ One bill is about as likely to pass con-
greSs as the other. The truth is that
| there is no serious thought in congress
about fixing the price of cotton. The
only way that such legislation will gain
any Roadway is through direct sugges-
| tion from President Wilson and there
is little probability now of such sug-
! gestion.
/ AS a rule introduction Of bills in con-
! gress has little significance unless such
/ introduction has the administration
| o. K. Thousands of bills are introduced
each session and are Immediately for
/ gotten.
Caused NO Excitement
The Emerson cotton bill caused not
ripple of excitement in Washington 1t
! has been sleeping in committee and its
author an Ohio Republican, explained at
! the time that since the government is
going into the price fixing business II
might we'll go the whole route.
Whereupon Emerson dropped his bill in
! the hopper and went about his routine
duties.
From time to time Representative
Moore, of Pennsylvania, has offered cot
ton price amendments on the floor. None
of them survived more than ten min
/ utes. That the mere introduction OF
such bill could hold back Liberty Loan
! subscriptions in the south is not under
stood here and the Liberty Loan bureau
was jolted by advices to this effect.
However, the telegram from New Or
leans says that the introduction of the
Emerson bill, fixing the price of cotton
| at 20 cents per pound has had most de-
mOralizing effect which if not promptly
/ counteracted will materially decrease
Liberty Loan subscriptions in south"
Twenty-cent cotton, the telegram
says. means financial embarra ssment in
the cotton growing states. Secretary Nc.
Adoo is advised that the critical situa"
ton" justifies calling his attention to
| the Emerson bill
/ 1t is generally conceded in the house
that no legislation governing the price
of cotton will receive consideration un-
less it is advocated by the president as
a war measure of absolute necessity.
Opposed by Southerners
Southern members of congress will
oppose such legislation PRACTICAL vas
unit, unless the president himself shall
show the necessity for it. So far there
has been no intimation in administra-
ton circles that the president will
broaden the price fixing program to in
clude the staple product of the south.
Representative Emerson introduced
his cotton price bill about the time the
senate adopted an amendment to tho ag-
! ricultural bill for $3.50 wheat HIS
proposal of 20-cent cotton was met by
! counter-proposal by Representative
/ Goodwin. of Arkansas, for 40-cent cot
! ton. Both bills were referred to com
mittee and had been practically forgot
ten until the secretary of the treasury
received the New orleans telegram pro-
| testing against the Emerson bill. Rep
resentattve Lever chairman of the agri-
! culture committee. said today:
1T is strange to me that the Emer-
son bill should affect the market, and
| that the bright gentlemen of the trade
should not even know that the other
| bill for 40-cent cotton, was introduced.
! This very situation seems to ne to in
dictate that this is nothing more nor less
than an effort 10 bear the market based
on no substance in fact
Telegram to McAdoo
In addition to the paragraph quoted
allow. the telegram to Secretary Nc
! Adoo reads:
Nv. G. McAdoo. Secretary of the
! Treasury: The introduction of the En-
! erson bill fixing the price of cotton at
| 20 cents per pound has had a most de-
! moralizing effect which. if not promptly
! counteracted. will materially decrease
| Liberty Loan subscriptions in The
south A summary reduction to 20
cents per pound OH the stocks now held
! in the south will mean serious financial
/ embarrassment. and will TO a great ex
tent affect the ability of our citizens to
! take bonds We 90 not believe it posi-
BILE that such an ill-considered and ruin
/ Gus bill caR be adopted by congress, but
| the fear caused by the tendency of such
/ legislation may, and probably will, if
not Immediately Withdrawn, accomplish
| the disastrous result. The critical ma
| ture of the situation warrants us in
bringing the matter to your attention
/ and urging you to issue promptly some
/ encouraging statement, and to take such
/ stems as may be best calcula ed to pre-
vent a calamity to this section and
/ serious setback to the Liberty Loan in
/ the south.
! Signed: James F. Butler, Jr., Chair
| man of the Liberty Loan Exec Tive
Committee: John F. Clark, President New
/ Orleans Cotton Exchange
Doo.l Nj -