Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1919-03-21
IN Excellent Suggestion
To Promote Cotton Exports


that a cooperative exporting corpo-
ration be formed to facilitate the
South's overseas cotton trade should arouse
cordial interest among the farmers, for whose
benefit it is primarily advanced, aud also
among merchants and bankers whose welfare
it materially concerns Such a corporation,
controlled by the growers and their friends,
could be of inestimable service, particularly
at this juncture in negotiating foreign sales
of cotton, arranging terms of credit, procuring
needful guarantees from foreign banks, and
in divers other endeaVOrS to conserve and pro-
mote the cotton trade.
Coming as it does from a tried and true
friend of the South, the suggestion is as
sured, at the least, of favorable consideration.
Mr.. Harding, as an Albanian to the manner
born, knows the peculiar problems Of cotton
production and cotton marketing. In 1914,
shortly after the outbreak of the war, when
the Souths business prospect looked disheart-
eningly gray, he headed the loan committee
which organized one-hundred-million-d dollar
cotton-loan pool for stabilizing the shaky con-
ditons. AS Governor of the Federal Reserve
Board, he views from a widely commanding
vantage point the great business as we'll as
AGRICULTURAL needs of more adequate means
of conducting the sales side of our export
cotton trade. Most assuredly, then, the coun-
sci of so able student and so loyal son OF
the South is well worth weighing.
Of the general utility of such a corporation
as he proposes, Mr.. Harding convincingly
says:
every large manufacturing and
mining concern has a well-Organized
sales department. 1t would be suicidal
for any large manufacturer to devote his
activity to production alone. Of all our
great industries cotton, [ believe, is the
Ia Oh, hos, Hnd o lac
department. Yet many millions OF peo-
pie are engaged in it's production
farmer or merchant who has cotton for
sale must either take the price offered
him, or he must hold his cotton in the
hope of obtaining higher price; and he
has no assurance that he will get
higher price by holding. The cotton
spinners have their own organizations;
but those with cotton for sale have
none"
The valuable results of cooperative selling
are strikingly evidenced in the record OF the
Georgia Fruit Exchange. Before the days
of this institution the peach growers industry
was lean in profits and extremely hazardous
But since systematic and well-managed meth"
DDS of marketing displaced the old plan OF
every man for himself and the devil take the
hindmost, Georgia's peach crops are sold to
the best possible advantage and net the rich
est returns it is said, Of any in America.
Similar organizations have done as much for
citrus fruits and for sundry other products
of the orchard and farm. The same pr1nc!-
pies applied to the cotton-growers' output,
especially where foreign commerce is con-
cerned, should yield equally gratifying re-
suits.
Such an organization as Mr.. Harding has
in mind could be organized under the Webb
act which was designed specifically for the
purpose Of enabling American producers to
meet the problems and grasp the oppOrtunl-
ties of the post-bellum foreign-trade period
It is quite feasible, as Mr.. Harding points out,
ito form a large export corporation, the
stock of which will be owned by those direct
Iy interested in the production and marketing
of cotton The organization would be cap
italized at whatever amount was necessary
to handle it's business; fifty million dollars
has been suggested Particularly interesting
is the proposal that the capital stock might
be invested in Liberty Bonds, plan which
would obviate the necessity of procuring cash
subscriptions and which at the same time
would insure certain dividends to the stock
holders There is scarcely a county or
village in all the South where Liberty Bonds
are not owned and where this enterprise, if
rightly presented, would not awaken keen
interest. 1t is altogether probable, therefore,
that a plan could be worked out whereby
ga certain proportion of the stock could be
allotted to each county in the cotton belt, so
that it would be absolutely cotton pro-
ducers' organization, and it's operation in the
interest of the farmers and merchants as
sured."
Projected on this broadly appealing basis.
with politics and promoters profits rigorous
ly excluded, the undertaking should win sub
stantial and enthusiastic support. For there
is no province, no corner or nook, of South
ern interests, whether commercial, industrial
or agricultural, which is not vitality con-
cerned in the establishment of free and de-
pendable cotton market European coun-
tries want the Souths cotton as much as the
South wants their orders. Thus selling
corporation, amply financed For extending
credit accommodations, would be of mutual
benefit to buyers and sellers and would serve
a highly generous as we'll as peculiarly use
full purpose. 1t is much to be hoped that
Georgia and her cotton growing neighbors
will take the needful steps to put Mr.. Hard
ing's excellent idea into operation.
Helgo1and sounds like place that ought
to be demolished
One touch of sprirg makes the furnace
man grin.
The ex-czar is again reported alive, in
which respect he is luckier than the ex-ka1ser,
who is still dead one.
The League of NATIONS will be settled be-
fore the commencement orators will have
chance to boss it.
Most of the Americans stayed in France
barely long enough to unlearn the French
they studied before they went across
The man who never makes mistake is
under suspicion, but still he is safer than the
one who is always making them.