Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1921-03-31
South's Bankers
Called BY Hoover
To Help Farmers

WASHINGTON, March 29.-The
war finance corporation tonight is
sued a call for a conference here
April 4 of southern bankers to dis
cuss methods by which the eXporta-
ton of southern agricultural prod
ucts may best be financed. Announce
ment of the conference followed dis
cussion of the farmers problems by
the cabinet today after which it was
said definite plans for farmer relief
probably soon would be put forward
Announcements 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
a solution of the farmers Difficult
ties.
Several other such meetings are
planned, it was stated. Secretary
Hoover expects soon to meet with
representatives. of the agricultural
Industry to talk over with them the
problems which beset their industry.
Leaders of several farmers organi-
cations 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.
Secretary of Commerce Hoover
earlier in the day had brought up
the subject of cotton for discussion
In the meeting of the cabinet He
outlined the plight of the cotton
growers, because of decreased i'm
ports, low prices. demoralized mar
kets and tight credit.
The president and members of the
cabinet agreed that relief measures
should be devised and put into eff
feet as expeditiously as possible.
in mind, and is expected to take the
lead in relieving the situation.
The war finance corporation recent
ly was revived by congress for the
purpose of financing exports to assist
agriculture. 1t would accept hte Sc
curities of foreign countries in need
Of cotton and other soil products, at
lliC oc1IllG l4IIIS 1IIidIICIIiS Lie SIOWGI.
Officials of the finance corporation
desires, it was said, to explain to
the southern bankers, on whose
shoulders fall the burden of provid-
ing funds for the export of cotton
and other products of the SOIL Just
how far the federal agency can go
in supplying the money they seek.
In this connection, it was deemed
likely that the treasurys position
Il with respect to exports to Germany
|also would. be made clear.
The corporation already has ap-
proved loan of $4,000, 900 for the
Financing of shipments to states in
central Europe, and Secretary Mel
len has said there is no objection
to loans on exports to Germany pro-
vided the finance corporation was
given good security by the export
/ ing houses.
several occasions that the corpora
tion was ready to extend aid in ship
7pnlg to Czecho-Slovakia and Poland,
although public statement to that
3effect never has been made. In these
two countries, exporters have re-
ported great opportunities for the
marketing of cotton and other exclu->
sively 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 indus
try to spread conferences over sew
|eral months in which time represen-
natives from the various sections of
the country may be called here to
see what can be done for them. FL
nance corporation officials have said
several times that the western and
middle western farmers must be CIV
en- consideration soon. 1t apparent
Py was the consensus of opinion in
the cabinet discussion, however, that
the cotton interests should be the
first to receive attention.
The meetings which Mr.. Hoover
will call. it was said, will be entire
Qy informal and will seek to develop
a program of cooperation within
practical limits for the disposition of
crops. Some officials are said to fear
that unless the farmers can be Civ
an assurance Of a friendliness on the
part of the government in the mar
keting of their products there will
be reductions in the acreage of all
crops 1t was indicated that first
hand information obtained in con-
Iferences such as those proposed by
IMr. Hoover might suggest new meth
ods for domestic handling and ex-
portation of all agricultural prod
ucts.