Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-10-14

banker and farmer of Cave Springs,
Ga, partly took sides with Senator
of the Atlanta reserve bank, had told
him as early as last January that
this, price reduction movement
would come.
Governor McCord told me this
was coming and it has come" shout
born knew about it, too
'And so you claim they were in
a conspiracy" asked Mr.. McSwain.
well. I don't say that. but am
merely stating fact that they knew
about this ], thing , as far back as last
1--WE have got night riders in
Georgia. and day riders in Washing
ton." continued Mr.. Tumlin. Let
me tell you there will be just half
crop in Georgia next year. I was
board would lend money to make
crop but we couldn't get money to
hold it for decent prices. Some of
the member banks in Georgia are
paying and getting excessive inter-
it, thank Heaven. 1 would be willing
to go broke tomorrow if these farm
ers could be helped out of this hole.
This organization here in Washing
ton created to help the people is rob-
president, attorney general, secre-
tary Houston and the board. I have
never seen such a situation in
free country"
Senator Smith Speaks
During the visit of the committee
to the White House, Senator Hoke
Smith addressed the conference say
ing that there was no excuse for the
object of the system, he said. was
to bring seller and purchaser to-
gether at a time when the pur-
chaser wanted to buy-not to force
the producer to sell at any price OBJ
We will not be able to see the
president" said Senator Smith. 81
knew that when the committee was
named. The president has seen only
three senators Size he became i'll a
atom Simmons, selected by the DEM
ocrats of the senate to confer with
him about reservations to the peace
treaty. But l am hopeful of get
ting some action through the cabi-
J. J. Brown, commissioner of
agriculture of Georgia, chairman Of
a special committee to canvass the
general farming situation. made a
pre enIn report late ate Tuesday ,,
Brown, that the same crisis as ex-
lists regarding cotton applies to all
other farm products. Our commit
tee is now preparing a statement of
our case to present to the federal
officials"
H. Brand and Tom Bell, OF. Geor-
gia, were members of the Special
committee, as was Senator Smith.
A subcommittee on resolutions, head
ed by Senator Smith, of South Caro-
lima. was named to prepare the state
ment.
Representative Upshaw, Of Atlanta,
reached the conference late Tues
day, adding to the large Georgia rep
resentation which included L. B.
Jackson, chief of the bureau Of mar
kets.
The Boards Function
That the farmer can refuse to
loosen up with pound of cotton or
meat or bushel of wheat or corn
unless we get relief" was declared
BY Senator Smith of South. Caro-
reserve board: Senator Smith dis
agreed with Former Senator Butler
that the board had brought on a
panic" but admitted that agri-
culture is in the midst, of a grave
ness, to attempt to regulate prices
and let's tell them So" said Senator
Smith. IF we want to hold for
forty cent cotton and three dollar
wheat, 1t is none of their affair. The
BOARD, under the law, is to pass on
the eligibility of paper for discount,
S. H, Hobbs, Of North Carolina.
aroused great interest when he re-
Peateo words used by President Will
son early in his administration,
promising that there would always be
currency to aid agriculture.
AT that time" he said, Secretary
McAdoo was about to issue emer-
gency currency to check panic in
three appointed by President Barrett,
OF the Farmers union, to see the
president and ask for a large issue.
The president said then we would al
ways have funds. L remember his
words. He said: wall street is, try
ing to bring on panic at the begin
ming of my administration. I owe ,
nothing to Wall street, and shall pre-
vent 1t. There will never be a lack
OF currency to move the crops dur
ing my administration
"Then why don't We get tt?" asked
several delegates.
1.-THE usurpation of authority by
government officials amounts to a
crime" Senator Butler said. '"The
reserve board, has the power to sta
Billie prices, but 1t is misusing it.
There is a panic right now, and it
very power created to prevent panics.
say it is a crime, and [ say it re-
gretful1y and not vindictively."
Cotton Men Not Suffering Alone
Charles S. Barrett, president of the
Farmers union. who presided, asked
Mr.. Butler to discuss the tobacco sit
uation in North Carolina Mr.. Butler
said the situation in tobacco was just
as serious as in cotton, wheat and
other farm products. Withdrawal of
credits, he said, had brought about
ruinous contraction in this govern
ment campaign to bring down prices,
which is hitting mainly the producer.
Wall street could stop it's panics; the
federal reserve board is not stopping
this one"
Delegates from cotton-producing
states from Texas to Virginia We're
in the meeting. and while cotton talk
predominated, it was testified that all
branches of farming were equally as
concerned and as desperately in need
of financial assistance.
bod tai batp the nd federal hd
to aid the farmer in the present
crisis, Senator Smith, of South Caro-
lima. said the farmer had right to
hold his produce for higher prices
and was entitled to financial assist
ance.
Lets say to the federal reserve
board that it is none of their bust
and SO wheat" exclaimed Senator
Smith. 1.-THE board has no authority
to say which lines shall receive
credit and which shall not. All I
want them to do is to pass upon the
eligibility of paper; they have moth
ing to do with prices.
I'VE will say these are our prices
O M cit n1S TO han CCnE