Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-10-16
ENCOURAGING NEWS
FROM WASHINGTON
GIVEN To FARMERS
Governor Harding, of FEEDER
al Reserve Board, More
Encouraging Than Reports
Showed, ], J, Brown Says

credits than was indicated by thu
newspaper reports coming out OF
Washington in the last few days
was the encouraging news delivered
by 7. J. Brown. commissioner Of ag
riculture, to the meeting Of tn
| Gs orgia division of the American
| Gotten association, which opened Fri
| day morning in the state capitol.
Commissioner Brown has been II
Washington all this week attendin,
| the nationwide meeting of farm or
| ganization representatives, held TO
| the purpose of protesting against
| curtailment of farm credits by tn
| federal reserve bank. He was
member of the committee appointed
| by the Washington conference t,
wait on Governor Harding and tn
members of the federal reserve
board. He left the Washington meet
ing yesterday in order to attenc
the meeting of the Georgia division
Harding's Attitude .,
"The attitude of Governor Harding
has not been accurately represented
in the press dispatches from Wash
ington," said Commissioner Brown
IT have noticed that we can always
get very conspicuous front-page pub.
licity when Governor Harding does
duce the price of cotton but when
he gives expression to views on the
other side of the question, so that
publicity would help the cotton mar,
ket, some Of the newspapers for some
reason, fail to quote him.
Governor Harding laid down two
propositions which are very impor-
| tant in the present situation:
mo. /. That the banks of every
section Of the country ought to be
duced in their section for sale, at
prices which will yield profit to the
producer.
mo. 2. The federal reserve bank
can and will handle all farm paper
presented to them by the member
banks.
"In view Of this second PROPOSE
ton laid down by Governor Hard
ing, we earnestly requested him to
give encouragement to member
banks in handling farm paper, for
the reason that his previous utter
ances, and the utterances of Secre-
tary Houston, have created a great
deal of uncertainty in the minds of
the bankers and have caused them
to be extremely conservative in
handling farm paper"
Commissioner Brown presented to
the meeting a general outline history
of the negotiations which have been
in progress in Washington since last
Monday. He emphasized particular
ly the fact that the conference was
not composed of cotton growers
alone, but of representatives of every
line of agriculture in the United
States. He declared also that the
yer yacute situation now prevailing
in the cotton belt is duplicated in
every other agricultural section of
the country.
Criticizes Houston
Commissioner Brown took ooca-
| sion in the course of his remarks
to make very severe criticism of the
attitude manifested by Secretary
Houston. He did not, however, criti-
| cize Governor Harding. His opinion
was that Governor Harding is doing
everything in his power to improve
the situation of the cotton growers
He laid particular stress on a state.
nent made by Governor Harding tC
the farmers committee, that the
price of farm products in his opin-
ion already has gone too low, and
must inevitably take a turn upward
| Richard 1. Manning, former COVER
nor of South Carolina, and chairman
of the organization committee Of tn,
Cotton Export Corporation, recently
launched in that state, under tn,
auspices of the American Cotton as
sociation, was scheduled to follow
Commissioner Brown on the program
of the morning session. His address.
was to be devoted principally to the
export corporation.
Ex-Governor Manning presented in
detail the plan of the cotton export
corporation, the same as presented
here by him a week ago at the Allan
ia conference of business men and
ankers. The corporation is to have
a. capital stock Of $10,000,000, pay
ale Ill cash, Liberty bonds or cotton
at prevailing prices. 1t is to engage
in the business of exporting cotton
|
| low-grade cotton, to markets in GEN.
trail Europe. In South Carolina, eX-
Governor Manning stated, the sub
scription of stock is being pushed
| by every field agent of the American
Cotton association, every extension
agent of Clemson college, and by the
organized bankers. merchants, life
and fire insurance underwriters, bot.
tiers and travelling statesmen.
Spinners Back Growers
One Of the interesting features Of
the morning session, Immediately
following the speech of Ex-Governor
Manning, was a statement written by
P. e. Glenn, of Atlanta, secretary OF
! the Georgia Cotton Manufacturers
association, that a majority Of the
cotton spinners of Georgia are il
favor Of the farmers getting 80 cents
or better for this years crop of cot
| ton.
Mr.. Glenn Was asked for speech
but had been called away from the
meeting before the chairman learned
that he was present. His memoran-
dunn of the attitude of the Georgia
spinners was left on his registration
card, however, and was read out to
| the meeting: 1t was received with
keen interest, and was generally con-
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