The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1921-06-11
Wannamaker Back
From New York
Tells of Efforts to Help Cotton
Grow. rs. Two Ideas Ad-
vanced

Columbia May I. - J. SkottoWe
Wannalnaker, president OF the Amer
lean Cotton association, on his return
yesterday from New York, where he
attended the conference Of the various
lines Of cotton industry, gave out
statement saying that he had request
ed congress TO use funds now on de-
post in the United States treasury
which accumulated through the sale
of cotton seized By the government
during the Confederate war on tax
afterwards declared uncOnstitution-
a! be utilized as q revolving fund
FOR the purchase of cotton until the
markets can be opened for the same.
He also said that The request OF the
conference for q per cent discount
on commercial and agricultural pa
per and renewals of loans on agr!-
cultural products had also been laid
before the government. Mr.. Wan
namaker statement follows:
In compliance with the resolution
unanimously passed by the confer
ence In New York, asking the fed
more liberal extensions Of credits
and rediscount rate OF II o I
,Aceeding > pei cent, on CONNER
cial and agricultural paper, and re-
newais OF loans on agricultural prod
uc1s-including cotton--until the eA-
pert markets can be opened up for
same, this request has been laid be-
fore the president, the national OIL
cials and congress.
In addition to this, I have laid
before the national officials and our
law making body. a request that
the funds now on deposit with the
United States treasurer. which accu-
mulated through the sale Of cotton
seized by tha United States govern
ment from planters and from pusi-
ness men, in the South during the
War Between the Sections Oh a tax
afIerward declared unconstitutional,
Ee utilized AS a revolving fund tor
the purchase of cotton until the mar
lets can be opened Tor same.
1T has also been urged that the
alien property fund on deposit with
the treasury department e i z d
during the world war be loaned to
be used fer the purchase OF cotton
in connection with the fund from
cotton seized during the War Between
the Sections II has been pointed
out that unless relief is speedily
extended the loss of two billions OF
dollars TO the cotton producers OF
the south, which is net loss based
upon the actual cost Of the 1920 cot
ton crop. will seriously affect not
only the agricultural and entire bus
mess life OF the south but the Ilnan-
cial and business life OF the entire
nation.
The English government, in aIdl-
tion TO guaranteeing Is per cent. OF
the loss on exports since 1914, has
been nsing all means for encouras-
ing exports. opening up foreign mar
kets, and building up foreign trade.
and has been purchasing Egyptian
cotton direct, which action has re-
suited in bringing great relief to
;ie Egyptian cotton-grower, the
English government having an
nounced the policy of continuing TO
make these purchases until cotton
reaches the price Of the cost OF pro-
duction In addition to this. the
English gvernment is grant / n g
loans of so per cent. OF the value
OF the cotton and is extending lib
eral loans to Egyptian cotton grow
ers.
The use of the funds which accu-
mulate,l from the sale Of the cotton
seized uring the War Between the
Sections. for the purpose OF bringing
relief 10 the cotton producers OF the
south, under the present distressing
financial conditions, would bring di-
rect relief TO the people of South
and indirect benefits TO the entire ma
ton, and could not be used for
better purpose than to relieve the
very people TO whom the money
rightfrlly belongs
Every vestige Of sectionalisn
should be removed following the
world war. and the use Of these
funds, for this purpose, will have