The Dawson news. (Dawson, Ga.) 1889-current, 1920-10-05
STRONG PROTEST ON
FARM CREDITS PLAN
GOVERNMENTS BANK POLICY
cAI1sINC SOUTHERN FARM
FRS TREMENDOUS LOSS.
SIC, HOUSTON is SCORED
Federal Reserve Banks Will Not Elk
tend Credit to Farmers For Pur-
mise Of Holding Cotton. Staple Is
Now Selling Lower Than Cost.

Now Selling Lower Than Cost.
ATLANTA, GA meeting at
orcp in Washington of the heads of
very farm organization in the Unit
cd states, for the purpose of making
protest against the policy enunciat-
cd bv Secretary Houston, of the
treasury department. IN respect to
form credits, will be suggested by
! Brown, commissioner of agri-
cuIture of Georgia, to j. S. Wanna
maker, president of the American
Cotton Association.
In recent statements issued in
Washington, Secretary Houston has
declared that federal reserve banks
cannot extend credit to farmers for
tbe purpose of holding their prod
nets until prices go up, for such a
noIicv would be in effect aiding a
conspiracy against the consumers.
These statements issued by Sec
retarv Houston are sharply chal-
lenged by President Wannamaker, of
the American Cotton Association, in
telegram sent to the governors,
senator's, congressman and commits
sioners of agriculture of the cotton
states.
Must Assert Rights.
Prior to giving out his statement,
Commissioner Brown said he had
come to the conclusion that Secre-
tarv Houston's announced policy IN
regard to farm credits makes it nee
esSarv for the producers of food
and raiment in this country to assert
their rights, once and for all.
1--WE are planning" he said, Ito
suggest to President Wannamaker a
meeting in Washington, at the EARL.
est possible date, of the heads OF
all organizations of farmers IN the
United States, including not only the
cotton growers. but also the wheat
growers, the cattle growers, the hog
growers, the corn growers, the frult
growers and othes.
"The federal reserve act explicit
" provides credit facilities for the
producers of farm crops, the intent
Of this being to enable them to hold
their crops for favorable markets.
81 Apparently Secretary Houston is un-
dertaking to repeal the policy of the
federal reserve act by a personal
dictum. His logic if carried to It's
Z ultimate conclusion must mean that
the farmer shall dump his products
on the market regardless of price
and regardless of whether he gets
the cost of production plus rea-
Sonable profit.
Where to Debate.
at is all very well to talk OF de-
flation, but the process should De
applied where initiation has occurred,
instead of proceeding in the opposite
direction. AS long as the spinner is
making S4 worth of cloth out of eV-
cry 40 cents worth of cotton, 1t IS
81 not worth while to talk to the cot
ton grower about debating the cot
ton market. AS long as the miller Is
making multiplied profits out OF
II flour, it is not worth while to TAX
& to the wheat grower about detlatlng
the price of wheat.
Secretary Houston's statements
have already hammered down the
price of cotton"
Holding Movement Started.
An organized movement to hold
cotton in the hands of the producers
s. until prices have risen to at least
40 cents a pound, basis middling,
was started at a meeting at the state
capitol Thursday attended by leading
public officials, cotton growers and
bankers.
A speaking campaign to explain to
farmers everywhere the necessity OF
holding their cotton to prevent II
falling into the hands of the specu-
lators at a price much lower than
the cost of production will be careful
at once. County organizations VIII
be formed and propaganda will De
distributed.
The meeting also took preliminary
steps toward calling a conference IN
Washington of the heads of all farm
erS' organizations to align them IN
the movement to insure orderly
marketing Of crops.
A committee composed of j. j.
brown, state commissioner of agrl-
81 n "ASS OeHdIOf luke OiuAIli, ~ ~
Barrett, national president of the
Farmers Union; Harvie Jordan sec
retary of the American Cotton Asso-
cation; Congressman Charles H.
Brand, NJ. l.. Johnson, A. F. Hodges,
T. T. Fitzgerald and E. G. Daniel,
was appointed to make arrangements
or the nationwide conference in
Washington. 1t met Immediately at
YER adjournment and decided defin-
iVeIX to call the conference.
The meeting was attended by SEN
aIof Hoke Smith, Congressmen Over,
TTiieet, Wright, Upshaw, Brand and
ymSon, of the Georgia delegation in
NE house; by Robert F. Maddox and
", J, Blalock, prominent Atlanta
oahkers, the former being an ex--
president of the American Bankers
association; by Charles S. Barrett,
TTfa la! president of the Farmers
rrtuon; Harvie Jordan, national sec
Ie.ary of the American Cotton AS
soclatlon; state officials and promi-
agHt farmers and business men of
al sections of Georgia.
The committee has called the
VWeeIIling for Oct 18th and 18th in