The herald and news. [volume] (Newberry S.C.) 1903-1937, 1921-04-01
SOUTHERN BANKERS
CALLED CONFER
WILL DISCUSS IMPORTANT MAT
TER APRIL 4.
Methods of Financing Agricultural
Products to Be Discussed at
Meeting in Washington

Washington, March 29.-The war
finance corporation tonight issued a
call for a conference here April A Of
Southern bankers to discuss methods
by which the expectation of Southern
agricultural products may best be
financed. Announcement of the con-
ference followed discussion Of the
farmers problems by the cabinet TO-
day after which it said definite plans
for farmer relief probably soon would
be put forward.
Announcement of the conference
was confined to the bare statement
of the call and the date. In the light
of the days developments, however,
it was regarded as the first step by
the new administration looking to So
luton of the farmers difficulties.
Several other such meetings are
planned, it was stated. Secretary
Hoover expects soon to meet with
representatives of the agricultural in
dustry to talk over with them the
problems which beset their industry.
Leaders of several farmers organiza-
tions also are preparing to carry their
kit of problems to the White House
in the near future, probably before
congress gets far into the work of the
extra session.
| Officials of the finance corporation
desire, it was said, to extend to the
Southern bankers on whose shoulders
fall the burden of providing funds
for the export of cotton and other
products of the soil just how fai' the
federal agency can 60 in supplying
the money they seek. In this con-
nection it was deemed likely that the
treasury position with respect to ex-
ports to Germany also would be made
clear.
The corporation already has ap-
proved loan of s6,0O0,000 for the fl
nancing of shipments to states in GEN.
trail Europe, and Secretary Mellon has
said there was no objection to loans
on exports to Germany provided the
finance corporation was given good
security by the exporting houses.
There have been indications on sew
eral occasions that the corporation
was ready to extend aid in shipping
to Czecho-Slovakia and Poland, al
though public statement to that ef-
feet never has been made. In these
two countries, exporters have report
ed great opportunities for the mar
keting of cotton and other exclusive
ly Southern products.
While there was no official express
sion tonight it apparently was the
program of those officials having to
do directly with the farming industry
to spread conferences over several
months in which time representatives
from the various sections of the coun-
try may be called here to see what
can be done for them. Finance cor
poration officials have said several
times that the Western and Middle
Western farmers must be given con-
sideration soon. 1t apparently was
the consensus of opinion in the cab
met discussions, however, that the
cotton interests should be the first
to receive attention.
The meetings which Mr.. Hoover
will call, it was said, would be entire
! ly informal and will seek to develop
program of cooperation within prac-
tical limits for the disposition OF
crops. Some officials were said to
fear that unless the farmers can be
given assurance of a friendliness on
the part of the government in the
marketing of their products there
will be a reduction in the acreage Of
all crops. 1t was indicated that first
hand information obtained in confer
ences such as those proposed BY Mr..
Hoover, might suggest new methods
for handling and expectation of all
agricultural products.