Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-10-12
How to Solve, and Ho,o Not to
.So1ve. the Cotton Problem


present cotton problem can best
~ he solved. but thinking people
are agreed that there is one way by wn1cn
II can NOT be solved 1t cannot be solVeo
by terrorism and intimidation. FARMER
might as sensibly pluck out mis- rignt eye ~
vent his displeasure against the Doll "eeVil
as to set fire to ginhouses in hopes OF bet
tnring market conditions The law of COM
mon sense alone should suffice to restrain
such stiffness The incendiary burning OF
ginhouses any other property Is crime
punishable by long Imprisonment or by
death. Suppose it were mere mlsdemeanor
and the culprits escaped serious punish
ment. Still they would be enemies to their
own and the community's best interests, for
such rash conduct could serve only to lnten-
sify and prolong a crisis which nothing out
thoughtful cooperation can bring to
happy issue.
How true this is appears as plain as noon
dow the moment one pauses to consider just
what the present problem is. 1t is not that
the supply of cotton is in excess or the
| worlds needs; on the contrary, tnere Is
real though not now artlculate, demand IL!
/ every pound of cotton which has been Daleo
| or which is yet to be ginned-and Tor
vast deal more. The problem is not that
| the price which the growers consider falr
minimum--say forty cents pound, basis mid
| dlng-is excessive; for If producers do not
deserve and cannot procure as much as the
cost of production, then will the entire eco
nomic order crumble to chaos. The prob
| lem is simply that the market demand for
cotton has temporarily declined and that the
| growers, together with the great range OF
business interests pertaining to them are
in need Of financial assistance pending the
return of normal conditions
BY normal conditions we mean fair ana
efficient functioning Of supply and demand
We mean the opening of now obstructeo
| channels between producer and consumer,
so that the millions of bales requisite
for Americas untitled wants and the
millions which continental Europe Will
eagerly buy as soon as credit facilities are
provided, may begin moving. At the recent
Atlanta conference of business and banking
leaders it was pointed out that Belgium ana
| Czecho -Slovakia stood waiting to contract
for one hundred thousand bales each, so soon
| as such exports could be financed, and that
Germany likewise wishes two million bales
for immediate manufacture These are
notable instances inasmuch as they reveal
something of the worldwide need and &C
tuaI, though not now active. demand for that
very staple which for the time being has but
beggarly market at home. The intrinsic
value Of cotton is not penny less than it
was six months ago; and if the crop were
sold gradually instead of being crowded into
| the autumn market, and II its prices were
governed by the wants of industry rather
than the filings of speculation, its growers
| would never nave reason TO complain.
IT, then, the problem of present market
| conditions and future marketing methods
can be effectively dealt with, anxiety will
give way to reinsurance and all the wheels
of prosperity go smoothly again. 1t is by
cooperation for graphing this immediate
and central problem that the situation is to
be bettered-not by trouble-breeding threats
and vain lawlessness. The grower should CO.
operate by ginning and warehousing enough
cotton to secure loans for his pressing needs
and obligations. The banker and merchant
should cooperate by rendering him every
| possible service, never forgetting that his
| abor and his rights are fundamental to the
common veal. Credits are asked in this con-
nection for needs which are legitimate and
imperative and interviewer with vital public
| interests--not for purposes of mere adven-
ture and speculation, as some authorities,
who ought to know better, seem to infer
Let those needs be supplied; let the immedi-
ate crisis be tided over by conservative loans
| on wafehoused cotton; let an exports corpo-
ration be organized for financing foreign
sales; let the bulk of the crop be held, as
far as considerations of interest and honor
allow, until prices at least equal production
costs-and the road that now looks dark and
steep will shine with assurance.
The South is not poor; she holds the treas
ure of an empire in her hands. Her pros
perity is not to be shaken like reed in the
wind, nor her heart dismayed by q passing
depression. Co-working and confidence will
bring her people safely through the trials of
this hour. They have too much stamina to
grow discouraged and too much intelligence
to trust crude violence instead of reasonable
and loyal effort.