Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-12-25
EXCHANGE QUESTION
WILL FIX VOLUME
OF COTTON EXPORTS

WASHINGTON, Dec. 24.-The
question of exchange and ability to
get credits will determine largely.
the amount Of American cotton which
will be taken by foreign countries,
particularly Germany, American con-
sular agents said in report which
was transmitted today to the senate
by President Wilson.
The reports were gathered last
summer in response to a senate reg
olution asking for the amount of
cotton which will be needed during
the year, the reports Of the consuls
covering the period generally from
August 81, 1920, to August 81, 1921.
Between 100000 and 100000 bales
of cotton will be needed by Germany
for the year ending August 81, 1921,
the American consular agent at Ber-
lin estimated.
Germany's Needs
Germany is operating between one
third and one-half of her 100000
spind1es and the market is short of
the better grades of the cotton and
the short fibered, low-grade cotton
for which there has been considerable
demand and has been largely of East
Indian production.
Germany before the war consumed
about 100000 bales Of American cot7.
ton; annually, he said.
"The question of the extension of
the sales Of American cotton in
Germany is a matter Of credit" he
asserted The Germans require six
months credit, the report added, and
while proposals have been put for"
ward for those furnishing the raw
product to take the finished product
in payment this has not got anywhere
because q German law forbids a
creditor to hold a lien on material
furnished to mill under such terms.
Belgian Situation
Belgium needs 70 rthe last year are
estimated between $4,000 and 1900
bales. Her demands are confined to
high-grade staples of one-inch to one
and one-eighth inches in length, the
report added.
Greece's requirements were esti-
mated at about $4,000 bales, and
that country produces quantity
of cotton similar to American mid
ding of seven-eighths inches N
length. :,
Spain's requirements were placed
at $4,000 bales, with the statement
that the amount of Indian cotton i'm
ports probably would be reduced
owing to exchange conditions.
France Wants se5,ooo Bales :,
The consul at Harve reported
E,raOca'S fextile industry RAPIDLY re-
covering fro mthe war and her i'm
ports of American cotton placed at
$4,000 bales as against about l.
100000 prior to the war.
Holland was reported as largely
increasing her warehouse space and
view of increasing the imports of
American cotton which she intended
to manufacturers and sell the manu-
featured goods to Germany. A cot
ton market has been opened at Rot
terdam.
want was declared to be very un-
certain" by the consul at Kobe and
he estimated the needs at between
$4,000 and 100000 bales.
Estimates for Norway were placed
at about $4,000 bales and for Den
mark the same number.
The consul at Liverpool reported no
definite information as to what Eng
land might need, while the report
from the consul at Portugal said that
it was possible Brazil might be able
to compete with the American cotton.
Mexico City reported no imports
of cotton necessary as that country
raised enough to take care OF the
domestic needs.
Cotton for Austria was reported
TO be handled by agents of foreign
firms.