Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1921-04-02
The Harding Administration
Moves to Aid the South

TT HERE Is WoTlu VI cHeeiihs Sis
nificance in the news from Wash
ington that the national Admins
tration is to take definite and immediate
steps toward relieving the country's hard
pressed agricultural interests, and first OF
all those of the South. Through a series
of conferences between officials of the
Government and representatives OF the
farming, banking and commercial groups
concerned, the Administration hopes to
work out for the common and critical
problems which face them solutions that
will be at once speedily helpful and eco
noniically sound.
The first of these counselings has been
called for April the fourth, at which time
Southern bankers will discuss with the War
Finance Corporation methods of facil1tat-
ing the expectation of this regions crops
particularly cotton. At the head OF the FL
nance Corporation, it is gratifying to note,
is that broad-visioned man OF affairs, Mr..
Eugene Meyer, Jr., who believes heartily that
it is the Governments duty to do all that
it rightly can do to tide the interests OF
agriculture over the present crisis and
who may be depended upon to use his ut
most influence to that end.
Already the Corporation has approved a
loan of six million dollars for financing
shipments to middle European countries,
partment, has indicated that there is no
objection to loans on exports to Germany
and Austria, provided adequate security is
furnished by the exporting houses. More
over, it is understood that upon proper
assurances aid will be given for shipments
to Czecho-Slovakia and Poland. If channels
can be opened for supplying the needs of
these and other cotton-consuming coun-
tries of Europe, there will be pronounced
increase in the demand for the South S
chief money crop, prompt revival OF
Iistless markets, and consequently a far
reaching improvement in business condi-
tions. Southern bankers should, and doubt
less will, respond cordially and in large num-
bers to the Wa Finance Corporations in
vitation.
This, however, is but one of several
means whereby the Administration is plan
ming to aid the South and other great
farming regions to a recovery of normal
functioning. Says a Journal Washington
dispatch of March the thirtieth: "Secre-
tary Hoover, of the Department of Com
merce, brought up the subject of cotton
for discussion at meeting of the Cabinet
He outlined the plight of the cotton grow
or, owing to decreased exports, low prices,
demoralized markets and tight credit.
President Harding and members of the
Cabinet agreed that relief measures should
be devised and put into effect as expe-
ditiously as possible. Mr.. Hoover is said
to have definite ideas in mind, and is ex-
pected to take the lead in relieving the
situation That substantial results will en-
sue, if there is proper cooperation in the
South cannot be doubted. Herbert Hoover
is one of the great economists, one of the
great administrators, one of the great doors
of history. His record in the vast and diff
ficult field of European relief stands forth
as a shining and imperishable. chapter of
Americas part in the World War. Such
talent and experience, reinforced by the
national Administration, may be expected
to accomplish much in it's efforts to solve,
or at least simplify, agriculture's problems
of markets and finance.
The Administration could have given no
better evidence of broad nationalsm than IN
this prompt and workmanly movement to as
sist the South back to normal conditions. Not
one section alone but the common country
will profit from the results. The prolonged
and undue depression of cotton, together
with its reaction upon business, has affected
the United States whole, just as would
similar misfortune to the grain growers OF
the West or to any other great group of pro-
ducers. No field of the nations fundamental
interests can suffer without reflected i'll to
all the others. Thus in helpin! to untaugle
the difficulties of the cotton situation. the
Government will be serving all America and.
in very practical sense helping unfortunate
peoples across the sea. The South is cordial
ly apprecidtiVe of this attitude on the part of
an Administration which is not of her own
traditional politics. Her people recognize and
are exceedingly gratified that the President
and ais Cabiret do. that the good of the
country is incomparably more important than
the fortunes of a party, and that politics
apart from patriotism and common sense is
too petty a thing for thoughtful citizens. II
augurs well for the Administrations treat
ment of domestic matters that at the outset
Of it's term it is giving liberal attention to the
problems of agriculture in their relationship
to business and industry May these season
able efforts he ahundantIy fruitful