Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1921-09-01
COTTON'S STRENGTH
is NOT TEMPORARY,
I CONGRESSMAN SAYS
Continued From Page ~

the opinion that the position of cot
ton must be rehabilitated, but agrees
with you in a plan of action. This
attitude grows out of an intelligent
appreciation of the relation of cot
ton to the national prosperity.
whether we obtain a good price
for this years crop Of cotton will
depend upon the gradual marketing
of jthe crop. The local banks and
merchants must not defeat the whole
program of the war finance corpora
tion by closing down on the pro-
Queer now.
eff the years crop goes out Of the
south without bringing back enough
money to paya substantial part Of
our debts and hearten our farmers,
then we will go into another year
with an impoverished, demoralized
and disorganized agricultural COM
munity We will carry into another
year a big load of debt and big
load of hopelessness.
There is no doubt at all as to the
power, the ability and the intention
of the war finance corporation to aid
in the gradual marketing of this
years crop. Gradual marketing I'M
der the present extraordinary condi-
tions means something more than
ditions. In this connection I quote
the following from Mr.. Meyer, man
aging director of the CORPORATION:
MIR. Meyers Views
1.-The agricultural relief act is a
measure of great significance to our
agricultural interests; It is very
constructive piece of legislation, and,
in my opinion, is thoroughly. work
able from the administrative point
of view. 1t recognizes the new con-
ditions existing in our international
and domestic trade and aims to meet
fhnCn conditions hU giving the
finance corporation power to assist
in financing the carrying of agricul-
tural commodities until they can be
marketed in an orderly way. The in
ability and unwillingness of foreign
merchants and manufacturers to pur-
chase the greater part of their re-
quirements for the year during the
period Immediately following the
harvesting Of our crops, as they are
accustomed to do in normal times,
coupled with the failure of our own
merchants and manufacturers to car
ry normal stocks, has brought about
situation which makes it neces-
Sary for us to market our staple ag-
ricudtural products over a longer
period than usual. The pressing need
at the present time, therefore, is for
additional facilities to finance our
staple agricultural products so that
they can be marketed more gradually
than formerly. Che agricultural re-
lief act aims to provide these facili-
ties along sound lines and in way
that will be helpful not only to the
producers themselves, but also to the
whole business of the country
Gradual marketing in the present
extraordinary situation means mar
keting over period of twelve
months. Whenever any banker. mer-
chant or other creditor forces cotton
out of his community faster than it
ought to go, he is defeating to that
extent the purpose of this legislation
and defeating his own self interest.
My belief is that the war finance
corporation will receive the staunch
cooperation of our southern financial
institutions and business interests.
Until the plans are perfected for car
rying out the emergency agricultural
act, the full benefits will not be felt
These few weeks of waiting will be
critical period in which all interests
should be patient, steady and hope
full"