The Dawson news. (Dawson, Ga.) 1889-current, 1920-10-19
r,,r FORMER BLUNTLY ADMITS
THAT HE DOES NOT WANT
IN HELP HOLD COTTON.
IS SELLING BELOW COST

AYE, Conference in Washington
AJopts Strong Resolutions. Blame
federal Reserve Board For Pres
.nt Prices. Couldn't See President.
WASHINGTON, D. C.-"General
bankruptcy and ruin are inevitable
,rIoss some immediate remedy to re-
lipve the present price situation as it
effects the farmer, says a report
.,,bnitted to the agricultural con-
forpnce here today by general COM
rittee appointed to study the situa-
ton.
The report was adopted by the
oorfarence without a dissenting vote.
BIames Reserve Board.
The committee blames the federal
reserve system for present prices,
charging that it "has arbitrarily with
held from assisting the basic indus
trv of this country to maintain a
level of prices that at least meet the
cost of production.
Declaring that the condition Of the
mind of the farm population is "oml-
mons" the committee says "this state
Of mind can only be changed by a
frank and fair attitude on the part
If those in authority-the test of
which can be only their acts"
The committee says sit is wrong,
as a matter of policy, artificially to
nress down the prices of commodities
and it is particularly wrong to begin
with the raw commodities, for such
a program inevitably forces upon the
producer the heaviest burden OF re-
construction and adjustment"
A Heated Controversy.
Secretary of the Treasury Hous-
ton reiterated to representatives OF
the conference that the treasury
would not be party to the with
holding of any commodity from the
market in order to maintain artlfi-
cially high prices. A heated contro-
versy between the secretary and Sen
ator Smith, of South Carolina, fol-
lowed.
Secretary Houston, upon hearing
that the entire conference intended
waiting upon him at the treasury,
sent word to the conference that he
would not have room for all of the
members and asked that a delegation
be sent to see him.
The conference sent back word
they had room for the secretary In
their meeting room, and that II ne
could not receive them all at the
treasury they felt he should come to
their meeting place.
''An orderly process of market
ing" was a practical ultimatum to
the farmers by Governor w. +. q.
Harding, of the federal reserve
board, when a committee of two
score members called to demand
emergency financial assistance for
the agricultural interests of the
country. He made it plain that the
federal reserve board will not change
its policy to provide greater extern
sion of credit to farmers.
Exceed Their Authority.
Resolutions strongly denunciatory
of the secretary of the treasury and
federal reserve board for issuing
statements tending to bring down.
prices and for the restriction of cred
it's resulting in approaching bank
ruptcy for agriculture were offered
by the general committee of the cot
ton conference. The adoption of
these resolutions was a foregone
conclusion as they were signed by
large committee of representative
delegates, including Senator Ellison
D. Smith of South Carolina, and J.
J. Brown, commissioner of agricul-
ture of Georgia.
Your committee feels the officials
of the treasury department and the
federal reserve system have exceed
ed their authority when they publicly
announced opinions as to the prices
for farm products which have re-
suited in disastrous price Declines"
read the resolutions as presented by
Senator Smith.
eve insist that the federal reserve
officers and treasury officers shall dis
continue and desist from issuing
statements as to their opinions of
prices and their attitude toward the
trend of commercial events"
Government Against Him."
Prefacing their findings with the
statement that the producer now
feels that 'the hand of the govern