Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-04-11
)TT0N INTERESTS PLAN
BIC EXPORT ASSOCIATION
Soment Recommended by. Chair
hai. harding, OF Federal Reserve
board, and Senator Owen.
HAVE s5o.ooo,ooo CAPITAL
|ouiu Control Supply, Eliminate
fioodlng Market, Stabilize Prices
anu Protect Produccr-Rcmov
system Of Unlimited Competition.
tBy Associated Press. j

iEAiPlilS. TENN. Reduction of cot
acreage by the South us not mere
patriotic act: 1t is superpatriotic
w. l.. G. Harding, governor of the
uerai Reserve Board. declared In an
oress today before tho conference
planters. factors and bankers from
actically every cotton producing
ate, called by Governor r. G.. Pleas
- OF Louisiana. permanent chairman
the acreage reduction movement.
consider Mr.: Harding's plan for the
sahlzation OF 1t sJo.0V0.000 cotton OK
~ corporation. with the aid OF the
Ne War Finance Board.
Ven Of ~ ana Senator Robert Ha rh, L.
SSakcTs az today's session.
Mr. Harding explained IN detail his
an. suggested recently following con-
latter's return from Europe. where
Il made II study OF tho financial and
numerical situation.
IoutiIhlng his plan for financing the
opposed corporation, MIR. Harding; said
had asccrtained there would be no
leVernment opposition TO exchanging
,ciared. would be of greater value
nan cash. as they would insure a
eady income TO the organization.
az ne d i,henea the present situation to
hen the Federal Reserve Board. Just
.sanized. but not IN operation. was
liable TO give aid.
|,re Of ourselves" he said we are
Pnlrontcd with great problem. but
Is problem VIC can meet"
-. Describes Possibilities.
Inc great possibilities which would
D!ne from an export corporation were
fscribed by Senator owen. who said
I'm a capital OF s5o,ooo.o0o, it would
rovide systematicaily and cheaply
"a he. ,ar
transportation at more economical
os,s than can be secured By the small
ai .eT,st
ontinued. could. II necessary. with
old its cotton from the market so as
, supply only the actual needs OF the
Q forced 10 sell it's cotton because OF
ny temporary slack in demand. Above
u. such corporation controlling "a
cry large volume OF cotton. would
antion OF the world"
objections OF Prevent system.
1t is quite clear" the speaker said,
as far as the producers are concerned
nat when they are competing with
ach other everywhere In selling their
otton,, when the cotton is being piled
p IN excess OF the capacity or the
ards, and when IL is in excess OF the
acliities arranged for transportation.
ne cotton cannot be expected TO bring
mat would be u fair price II these
Distractions were removed.
such q corporation could meet these
Distractions and bring 10 the producer
better price, give stability to the
iarkct and prevent wide fluctuations
4 prices. due to avoidabie factors The
esult OF this would DC benefit to
he merchants who buy the cotton OF
producer In the market. II would
enetit the cotton buyer because his
usincss VIII have a new measure OF
liability without the element OF violent
"A A r. ~
anger. as well as some times furnish
ls an opportunity of profit"
Senator Kenneth -. Mcclellan. Of Ten
essce. welcomed the delegates on be-
ALI OF the state. Other prominent
tate officials attending included Cover
or Brough. OF Arkansas. and Rep
l.. s. Gambler and H. d.
tcphens. OF Mississippi.