Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-10-26

The Tri-Weekly Journal presents
today interviews with two of the
south's foremost bankers, as we'll as
statement from j. J Brown, COM
missioner Of agriculture of Georgia.
In addition to these authorities, in
terviews were obtained from eleven
other leaders in every important
phase of the financial, mercantile, I'm
dustrial and commercial life of the
state.
The keynote of these interviews
was that the acuteness of the situa-
tion has passed and that the out
lock is bright for better things In
every line of effort.
OF, particular significance to south
ern farmers is the statement by
Governor Wellborn, in which he says
that cotton producers can expect
ample financial assistance through
the Federal Reserve bank"
~ Commissioner Browns statement,
Stelling of the improved status of
tho cotton situation, is published as
an accompanying article.
@oVeEnOT "eQpOru'B views
"The present lull in business is
but healthy sign of a genuine
awakening in the n; =, precaution
necessary to insure safety. and
it is bound to have g. wholesome eff
feet on the transitory period now
under way" states Governor Well
born, Of the Federal Reserve bank.
I'm considering the general bust.
ness and financial situation at this
time" he stated. "the public should
not lose sight Of the varied and
numerous factors entering inc the en-
tire question. The world war destruc-
ton of wealth, representing as it did
accumulated capital, upset the entire
capital structure and forced enor-
nous expansion of credits. The pre-
war trade relations Of nations were
practically eliminated, causing a de-
moralization of foreign exchange and
ly have the foresight to enter the
market and lay in q supply of raw
cotton.
THE proposed s12,OOO,0OO financing
corporation, headed by Robert F.
Maddox, is along the correct lines,
and our section Of the country should
lose no time in getting behind the
formation Of this enterprise. 1t is
high time we were doing more for
ourselves in the way of organizing
and conducting large institutions to
finance the business of this section.
"All in all, 1 feel we are slowly
heading towards the road to re-
covery."
an inability of our foreign customers
to pay for sour commodities either
in gold or by offsetting balances Gre
ated by shipments to this country,
thereby curtailing the demand and
tending to lower prices.
Nor should we forget thu fact that
commodities and manufactured prod
ucts under normal conditions were
SOLD to the world at large profits in
the early days and prior to our entry
INTO the war There is no denying
the fact that the producer must OK
pect and will sustain ZONE Losses in
this reimbursement period IN tie proc
ess OF equalization, just as the great
salar1ed class will n;w regain their
losses by increased purchasing power.
The world needs our manIsA ctured
products. our cotton End o6her COM
same gradually rather than IN the
volume of other years, SO hat to my
mind the correct method ia an order
ly marketing In order 10 obtain 8 fair
price.
Don't Rock tho Boat
"If We are to keep Oft the rocks W.
must cit steady and not rock the
boat. There Is no cause for wild
alarm: the financial and business Sit
uation while strained, is sound and
the present tendency to economy and
conservation OF credits will ease con.
ditions to a well-balanced prosperity
void of imitation.
The Federal Reserve bank. while
recently subjected 80 considerable
criticism, standG as the foundation to
our agricultural. commercial and IN
dustrial life, and must be guided with
a view to the interests Of the entire
district.
Governmental financial dsmandg
will lessen from time to time and
tighten the credit situation; EuropeaH
trade conditions are improving. The
price of cotton, IL seems, has already
reached the bottom. due perhaps q
the repeated assurances given the
producers that they can expect ample
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