The herald and news. [volume] (Newberry S.C.) 1903-1937, 1920-10-19
WANNAMAKER TELLS
OF CONFERENCE
SAYS EXPORT CORPORATIONS
HOPE OF AGRICULTURE.
Delegates Discuss Reestahlishment
of War Finance Body-Thinks
Conference Beneficial.


J. S. Wannanaker, president Of
the American Cotton association, re-
turned yesterday from Washington,
where he attended a convention OF
all the farm organizations Of Amerl-
ca. He said the association repre-
sented every side and phase of agri-
culture. Mr.. Wannamaker gave out
yesterday the following statement
regarding the convention:
e'This was not only one Of the
most unusual, but one of the most
important and one of the most bene-
fetal conferences in the interest Of
agriculture and commerce ever held
in America. Practically every agri-
cultural state in the union was rep
resented by leaders of agriculture.
Leading senators and congressman
and outstanding leaders in various
lines of commerce, all intensely IN
terested in agriculture, took an ac-
tive part in the deliberations Of the
convention. Two conferences were
held with the federal reserve board !;
these conferences were attended by
representatives from every section Of
the nation, representing every line CT
agriculture, and without exception it
was brought to light that the agri-
cultural interests of the entire nation
is today suffering from the most Sc
rious blow that it has received in the
last half century, and unless relief
is extended through the federal re-
serve system as requested, the agri-
cultural interests, nationwide, Will
be placed in the same deplorable COZ
dition that was brought to the agr.-
cultural interests Of the South fol-
lowing the Confederate war.
ssIn addition to the addresses made
before the board by the heads CT
each of the associations several
senators also delivered addresses.
The address of Senator E. D. Smith
before the federal reserve board and
before the secretary Of treasury
made a wonderful impression not
only upon delegates offending the
conference but al:o upon all inter
ested parties. is the consensus CT
opinion that the federal reserve
board will fully understand the situa-
ticn and will extend every relief
possible. 1t was likewise the unani-
NOUS opinion of those present that
regardless of the fact that all of the
officials in Washington and the SEN
ators and congressman in Washing
ton are united in their judgment,
that the war finance corporation
should be reestablished, and that its
reestablishment would save millions
to agriculture and agricultural inter-
ests of the nation, and would lmne-
diately have beneficial effe:t upon
the entire commercial life &C the na-
ton, still Secretary Houston, who
has entire charge under the law, CT
reestablishing same, will not rees-
tablish the war finance corporation
and therefore, the only relief along
this line possible can come through
the earnest effort of the united ag-
ricultural and commercial life of the
nation, in the formation of export
CORPORATIONS. The export corpora
ton, being organized in the South,
was indorsed in the strongest terms
and it was earnestly urged that the
capital of this corporation should oe
increased to s1O0,0O0,000 as speed
lily as possible.
81 called this agricultural confer
ence in Washington recognizing that
if relief could be had and fuller
understanding brought about, this
was the best course to pursue. ! am
convinced that it will result in bring
ing wonderful benefits. A perma-
nent organization of a national ag-
ricultural congress will follow. Ma
ton associations of marketing asso-
Citations will follow. have exhaust
ed every effort in my power to Sc
cure access to the markets of the
world for our agricultural products.
l am convinced that the only posi-
BILE relief to the cotton farmer of
the South and the wheat farmer of
the West, the cattle and hog ralsers
of the Middle West, the dairymen CT
the North and East, in fact every
line of agriculture and commerce.
nationalwide, is the formation OF