The Dawson news. (Dawson, Ga.) 1889-current, 1918-11-12
COTTON MARKET DECLINE IS ATTRIBUTED
TO WAR INDUSTRIES BOARD INTERFERENCE


SSSSSccSSSSSS
the matter was up about two months
ago If the south had not objected so
strenuously.
Il want to say that this report is
false and l have no doubt but that
1t was put in circulation for the pur-
| pose OF further confusing the situa-
ton" He declared that the present
price is certainly not in accord with
| the law of supply and demand.
! Governor Manning, of South Car
DINA, declared that the farmers
themselves are responsible to a large
degree for the decline, and that the
other contributing factors were the
absence of the spinners from the
market. He said the producers have
gone ahead and marketed their cot
ton to such an extent that there is
now glut in the market and the
only remedy is for present cotton
holders to sit tight in the boat and
continue to hold until higher prices
are quoted.
Following his address the meeting
decided to quiz Secretary McAdoo
and officials of the federal reserve
banks to ascertain Just how muhc
cooperation the producers may ex-
pect in efforts to hold on to their
cotton.
Says Board Holds Down Price.
L. J. Mcconnell, of Royston, Ca,
cotton buyer and warehouseman,
! blamed the war industries board en-
tirely for the present slump. He de-
clared that the board has made it
clear that it will hold down the price
If the price goes up, but has never
given any indication of uplifting the
price should the price go down below
the cost Of production. He said that
he would not question the integrity
of the chairman Of the war industries
board Barney Baruch), but the first
time the south ever heard of that
gentleman was in the role Of a great
bear Spectator.
''It is sufficient to say" he de-
clared, chat the cotton market is
being depressed by an official power,
and it is our duty to uncover it and
expose it to the world"
Commissioner of Agriculture Nc
Rae, of Florida, heartily Endorsed Mr..
McConnells sentiments. He declar-
ed that the war industries board
knows nothing of the problems in
volved in cotton production and ap-
parently is not anxious to find out.
He said he recently proved this fact
to his own satisfaction and compelled
the board itself to admit this fact in
connection with the boards handling
of the sea island cotton situation.
Charles S. Barrett, president of the
National Farmers Union. said:
"The farmers did not start the
price of cotton downward. The bank
ers did not start it downward. The
cotton gamblers did not start it
downward. The spinners did not
start it downward. Who did? l am
not going to say, but the same power
that started it downward can hold it
down"
Urge Holding Cotton.
Resolutions urging the farmers of
the south to unite with the merchants,
bankers and business men generally
for the purpose of Withholding from
sale all cotton until price can be
obtained to cover the cost of produc-
J4OIl anu BAONIuG u ICdSOAlHbIC plOllC
were adopted. These resolutions
also urge that when such a price is
obtainables cotton only be sold to
meet pressing obligations and when
ever possible money be borrowed to
meet these obligations instead. The
federal reserve banks are also asked
to be as liberal as possible in reds
counting notes secured by cotton.
Reduction of cotton acreage and
substitution of food crops was also
recommended, and the resolutions
conclude with a request that authori-
ties and agencies in each state be
charged with the duty of organic
ing county and school districts for
the purpose of carrying out the ac-
ton embodied in the resolutions.
The conference also recommended
to the farmers of the south that by
reason of the great need for increas-
ing food and feed crops they materi-
ally increase their acreage of these
crops for the year 1919 and to &C
complish this end by reducing their
cotton acreage.