The Dillon herald. [volume] (Dillon, S.C.) 1894-????, 1919-09-25
! HARDING SUPPORTS
FIGHT ROR COTTON
VOICES HIS HEARTY APPROVAL
OF AMERICAN ASSOCIATION.
Committees Appointed to Advance
Formation of Export Financing
Corporation.

Columbia, Sept. 21%Followmg a
conference in Atlanta between W. p,
G. Harding, governor of the federal
bank system, and j. Skottowe wan
namaker, president OF, the American
Cotton Association, special commit
tees have been appointed by the
American Cotton Association to push
forward the organization of the ex-
port financing corporation with all
possible speed, according to an an
nouncement made at the offices OF
the American Cotton Association in
this city.
Mr.. Wannamaker has issued call
to the president of every bankers as
sociation in the cotton belt urging
that special conferences of the bank
ers of each state be held at the ear
liest possible date for the purpose of
discussing the aims, objects and pur-
poses on the American Cotton Asso-
citation and to arrange means by
which said bankers can be of the
utmost assistance in financing the
cotton crop of the South and 10 help
maintain the minimum price recon-
mended at the convention held by the
American Cotton Association at New
Orleans recently.
Mr.. Wannamaker said that the
bankers can be of the greatest as
sistance by fixing maximum loan
value per pound when secured by fed
eral State or bonded warehouse re-
ceipts, and that they could be Of fur
ther assistance in the organization of
the export corporation. He said their
assistance would be needed also In
the fullest practicable exploitation OF
the new export facilities provided ip
the Edge bill and other recent legis-
lation. -
Governor Harding, in Atlanta, lent
his very hearty endorsement to the
work of the American Cotton Asso-
citation saying:
"I cannot emphasize too strongly
my approval of the great work which
has been accomplished by the Amer
ican Cotton Association. heartily
commend the wonderful service 1t is
rendering. most strongly urge the
Importance of locally owned and cons
trolled warehouses in every county in
exHe cotton belt. A tremendous amount
of work has been done by the Amer
lean Cotton Association for the pur-
pose of emphasizing the vital i'm
portance of the erection of these
warehouses and of their control and
Nownership by the farmers, merchants,
bankers and business men of the
South. l am more and more convinc-
ed that if the South desires to OBJ
tain fair price for rcotton it should
put itself in position to finance the
marketing of it both at home and
abroad. Our people have for years
been accustomed to financing the
growing crop, and of recent Years
they have learned how to hold their
cotton after it has been ginned and
baled, over period of temporary
distress. They ought to go one step
further and finance it until it gets
into the hands of the spinners."
President Wannamaker said yes
terday that kilograms and letters
were being received from all over
the cotton belt indicating that the
South is solidly behind the American
Cotton Association Warehouse cor
porations are being formed all over
the belt, he said. Several of these
are located in South Carolina.
In South Carolina it was stated that
the campaign was progressing most
satisfactorily. State Manager B. F.
Mcleod spent the latter part of last
week in the Piedmont section and re-
ports that practically, everybody who
is solicited is joining the association
in that section.