Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-02-10
THE STATE PRESS.
The Cotton Meeting.

The cotton crop not saved in Macon the day be-
chinery existing situation and safeguard
the market for the crop come was even pereca
onslaught ordered against the cotton exchanges
in the form of resolutions of which would put
the cotton exchanges out of business entirely
make bank pay and aside act lal cur,p>cE
for every check put not only the banks
but the entire financial system of the country ont of
mess The other the one which simply decl3t4s Il
standard useable grade of being the bass
future dealings deliverable call undoubtedly would
help the situation to extent
The other thing done to call on the farmer to
hold his crop for thrty6ve pound-not sell
pound for less than that amount In the meantime the
is be campaigned in effort pledge all
the farmers in Georgia reduce their acreage by one
third and hold their cotton for thiry-fve cents.
As yet nothing has been done Men who are in
touch the agricultural leadership OF the state or vino
actually its formal and Official leaders have outlin
ed program propaganda with which TO organize the
farmers great holding and acreagereducing army
What do has been decided on IN : fashion To do it
is the and. course the big job. =u take
great deal Of serious enthusiasm an immense amount Of
work in every locality and perfected organization This
is all in the future. It may result
The cotton holding movement which for the sake Of
argument viii has gone far cannot be zbzn-
dOned will carry the whole program if succeeds
because it is primarily launched raise the price and
If it holds long enough will do time; and with
in his yard still unsold because the mar
ket is bad farmer who can grow anything else is
-T,-
cotton, all in ALL had better be held from now on It's
the only way out and it will accomplish better
price and acreage reduction.
The first resolution the exchanges is fruit
less and will accomplish nothing because it is too rad
ical and is not based any Of solid knowledge
to what cotton exchange any solid knowledge
of how business Of any kind is necessarily
a large way. To demand that in every deal in
New York New Orleans the man selling should have
the actual spot cotton for warehouse would
preclude any large transactions the exchange
and the result would be that cotton world commod.
ity would lose its general world market machinery To
reduce all cotton transactions to spots would mean In
the end each mill would buy through its local machinery
far possible, from the farmers and merchants
mediatey about it. that cotton would then be gov
pretty largely py the price organization or
each individual mill group would permit it to madatory
name Farmers would before long find themselves
| so, ensaved to the mill interests nearest them
| And yet there evils the exchanges owing
to the weakness and inability of the much-heralded
Hoke Smith bill standard grade of cotton as
the trading basis for exchange contracts AS it is now
man who buys cotton the New York or New Orleans
| exchange demand his cotton and it must be forth
coming, But it may be any and all grades mixed up in
every sort of and vaueess spinner The re-
suit is that the basis for exchange trading is on cotton
grade low that the price always sadly below the
real value of spots; AMI therein lies the influence
of the futures exchanges They basng delivery ON
contract grade of cotton worth less good cot
ton everywhere
This easily be obvated by some intelligent man
writing into the original Hoke Smith measure which was
to forever and the of the second and
brief resolution adopted in Macon Thursday 1t merely
class grade of delivered the purchaser This
will establish and higher exchange deal
ing and the exchanges will become what they theoretical
ly aim to do, and what their function will
pretty accurately represent its real market as
world staple particular day exchange does
business 1t will really be the then the
stablizer dependable level the market value of
raw cotton the world over And that is just what the
farmer above all others, done-Macon Telegraph