The Birmingham age-herald., 1920-12-09
5O PER CENT CUT
 IN COTTON AREA IS AGREED UPON
Plan to Restrict Credit of Farmers or Firms Which Are Unwilling to Agree to
 Reduction
By Associated Press

By Associated Press
 Memphis, Tenn, December s.
 A 5O-percent cut in cotton produc-
 ton in 1921 and curtaiIment in the
 acreage planted in cotton to one
 third that of the total area in cul-
 tivation was ngrgeed upon at the
 acreage reduction conference here
 today of southern bankers, mer-
 chants and farmers and to make the plan effective, machinery was
 set in motion to restrict where
 ever necessary credits to individual
 farmers, merchants, factories or
 banks unwilling to nGrce to the
 acreage reduction plans.
 The plan, embodied in the report of the acreage reduction committee was adopted by q practically unanimous vote of the conference late today. It includes the formation of an organza- tion in every township in the cotton states to secure the support of the growers and their adherence to pledges of reduction.
 Organization work pledged by the bankers present will begin immediate ly and under the provisions of the plan, will be practically complete by Janu- ary l5 next
 The resolutions adopted call on
 the banker and credit merchants
 in the cotton states "to use their
 utmost endeavor to bring about
 the enforcement of q cotton acre
 age reduction by refusing to ad-
 vance any money to anyone inter
 ested in farming ef any kind who
 does not plant enough food and
 feed crops for their own use.v
 Land owners are asked to share in whatever crops may be raised on his lands on percentage basis and not require any fixed sum of money or pounds of cotton for rent.
 1NDORSE WAREHOUSE SYSTEM
 system of bonded warehouses for cotton and a classification of cotton that will be ample to protect it from weather damage and make it safe collateral on which to borrow money was indorsed.
 A system of cooperative marketing of crops was favored and the work of the American Cotton association in effort to stabilize the price of cotton. bring about reduction of acreage, improve marketing methods and in the educational campaign for diversified. tion of crops was approved
 In additional resolutions offered from the floor and adopted the con ference gave it's endorsement to "all safe, sound plans looking for the ex- tension of long credit to foreign GUS toners of certain corporations now in process of formatiou." and also to bill to be Introduced in Congress which will provide for government census of all untenderable cotton held in the United States.
 The acreage reduction plan. as of fered by the committee of which Col w. B. Thompson New Orleans. war chairman, and composed of banker merchant and a farmer from each of the cotton states, was adopted after spirited debate. Some of the speakers stated they believed that the acreage reduction provided for was too drastic and should be made 50 per cent of the land in cultivation next year.
 At the close of the debate, however, only few dissenting votes were cast against it's adoption
 BANKERS TO COMPLETE WORK
 The Organization work, in it's pre- I1nlhary stages is left to the various state bankers associatio The nresi- dents or these associations are asked 10 appoint state central committee of three banker, who shall in turn appoint committee in each county consisting or Tour farmers, three merchants and three bankers which will have suncn vision of all work in each county and arrange Tor organizing each township The first duty prescribed for the town ship committee is to list all tilIable lands. and their owners and also to list the merchants of. the community foIlowing this q county mass meetinp 10 pc held at date not later than january 10, at which every farmer ;s 10 De called on to sign the acreape reduction pledge, is 10 be called. The merchants also will be asked 10 sien pledge not to furnish money or sun- plies to those who are unwillinr in comply with the reduction agreement
 Al the morning session address were made by P. T. Stuart. president of inc flrst National Bank cf St Louis. who urged dtyersification as the only soIn- ton Of the problem of tho cotton grow CT Governor Charles IT, Brouph of Arkansas, who also advocated both acreage reduction and diversification and C. P. J. Mooney. editor of inc Commercial-A Appeal, Memphis who urged the conference to adopt and ad- here to the acreage reduction plan.
 The convention adjourned after adon- tioh Of the acreage reduction plan.