The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1920-12-07
TO CUT COTTON
ACREAGE IN HALF
Head New Orleans Exchange
Predicts 1921 Crop Of Six
Million Bales.
REDUCTION EMPHASIZED

Memphis Dec IA. PA reduce
ton OF at least so per cent. in the cot
ton acreage In 1921 and a crop Of not
more than 5000 900 bales was predicted
by w, II. Thompson, former president
Of the New orleans Cotton exchange,
In an address today before the cotton
conference here called 10 inaugurate
a campaign for material cotton
acreage reduction and crop dversin--
cation during the coming planting sea
son,
"The south Is determined to reduce
the cotton acreage In 1921 to at least
one-hnlf OF that Of last year" Col.
Thompson said. This win mean that
the coming crop will he reduced to
5000, 900 bales or less, Tho convention
here IL called for tho purpose OF soldi-
tying this determination and serving
notice on the world that the cotton
producing south win no longer permit
It's chief agricultural asset to he
crished by any combination OF circum-
stances or interests whatsoever"
After outlining tho course OF the
market In recent months, Col Thomp-
son declared the reduction movement
was made necessary by 'the appalling
ueCiine III pIlceH, uue, we are tolu nv
apologists. to the ruthless deflatlon
campaign to over production"
Washington Criticized.
Tn spite Of the fact that In the
spring the farmers were urged and
encouraged by financial authoutles at
Washington 10 produce all the cotton
nossih'e." Col, Thompson continued.
I'VE are, after the price has declined
TO figures which represent less than
one. half actual cost OF production. told
that We have produced too much and
must stand the consequences Of such
over product n"
The answer TO this II. that wo viii
hold tight to every bale Of the 80 called
surplus and that we will reduce the
next crop to proportions which will
stncger those who would reduce the
cotton producer TO condition OF dosti-
tuition,
The bankers, merchants md farm
ers 81 this so ton understand tho sit =
uatlon and Its remedy perfectly. Even
II the farmers were able and willing
TO plant a full acreage, the bankers
ana merchants win not supply the
necessary means. This Ia not a matter
Of mere resolution by farmers to re-
duce acreage but an issuo Of vital
necessity for which the whole financial
south ls taking .up its arms.
Let the world prepare itself for n
Leaders In tho movement declare
that action to be taken Mt the meet
ing VIII insure cut OF Mt least ono
half IN cotton acreage next year which,
they declar ia Imperative as n means Of
slabilizing the market and TO restore
tho price OF the staple TO figure
that will give the farmer n reasonable
return for tho 1921 crop
Gov John NJ, Parker. Of Louisiana
W. r. Thompson. OF Now Orleans.
Gerald Fitzgerald, of Clarksdale Miss,
and J 8, Wannamakcr, president oi
the American Cotton association were
among those who were TO address the
convention today, Committees were
named at todays Eeanlon 10 perfeai
q plan Of campaign and report al tho
iinpI scsslon OF tho convention t6inor.
row. The meeting was called by
Joint committee representing the Mem
phis Cotton Exchange, chamber 81
commerce, clearing house association
and various other commercial organi-
cations.