The star-progress. (Opelousas, La.) 1917-1921, 1919-11-29
new ASSOCIATION TO
BENEFIT COTTON
INTERESTS
Organizations Force Will Be
Exerted Alang Lines That
Tend to Protect Industry
MEANS MUCH FOR
ALL CONCERNED
Wild Speculation Injurious to
Great Staple Will be Curb
ed BY Its Influence

There was wonderfully effective
illustration of the power of united eff
fort, as typified by the American
Cotton Association, when certain
conditions brought about small pam
ic in cotton futures on November IL,
but the price Of spot cotton remained
at normal level, was unaffected by
the furry and brought about re-
covery in the future market almost
as rapid as the decline.
The condition was brought about
by the governor of the federal re-
serve bank who notified the New
York bankers to call halt on un-
bridled speculation. The banks did
SO by putting up the rate on call
money. The spectators were thrown
in panic which reacted on the cotton
future contracts, to the extent of
two hundred points or $40 per bale.
In the old days, the spot market
would have reacted in sympathy, and
those who wanted to take advantage
of the situation could have bought
spots to cover their short contracts.
But times have changed. The cam
paign waged by the American Cotton
Association, showing the farmer
where his interest lies, how he can
and should warehouse his cotton, has
been the potent factor in bringing
about this change. Spot cotton had a
certain fixed value, based on supply
and demand, and this value was not
affected in the slightest degree by
the furry in future contracts. The
condition which caused the furry in
futures could not affect the strong
position of the spot market, which
withstood the vicious assaults.
20 profit by this experience, to
make it possible for spot cotton to al
ways assert it's strong position and
withstand the assaults of adverse in
terests, it is necessary to perfect and
make invincible the organization Of
the American Cotton Association.
This process is under way now, and is
meeting with a splendid response
from men all over the state who
know the value of unity, but it will
be necessary to spread this unity Cos
bpel into all the highways and byways
of the cotton belt to bring about per-
manence. Every man of affairs in
the South is wanted in this organiza-
ton, whether he has any direct in
terest in cotton or not. Living and
having his business in the South, no
matter how remote he may be from
cotton, he is nevertheless affected by
its welfare, and he should put his
shoulder to the wheel to protect it.
Governor Pleasant puts this idea
into concrete form in this way:
"This association was conceived
and born under very suspicious cir
cumstances last spring and is destined
to be great power in the economic
life Of the nation. It's aims and pur
poses have justice and equity as their
controlling principles. 1t proposes to
battle loyalty, honorably and fearless
ly for the rights of the cotton pro-
Queer and allied interests in the cot
ton growing sections of this country.
l believe it, therefore, to be the duty
as we'll as the privilege of every per-
son in Louisiana and other cotton
growing states who may be interested
in that great product, to join the
American Cotton Association and
give it that much more support, en-
thusiasm and strength"
L, Vallee Of the Vallee Warehouse
and Mercantile Company, Inc, of
Abbeville, in letter to State Chair
man w. B. Thompson, becomes enthu-
siastic in his support of the movement
in this way:
''It will be a great achievement for
the South when the organization of
the American Cotton Association and
the parent Export Corporation viii be
completed, and we assure you that
we are giving and viii continue to
give our earnest support to the cause
and devote our energy for the COM
plete success of the movement"
VIM Snyder, Dodge Brothers
agent at Winnsboro, says:
81 realize that it win be great
thing and you may call on me for any
assistance that / can give, financially
or otherwise.
/. N. McCollister, president Of the