New-York tribune., 1921-05-31
Cotton Grower
Doomed if Aid
Is Withheld
Speakers at National Cotton
Conference Declare Fi-
nancial Help Must Come
Soon TO Save Industry
Acreage Cut 30.73 P. C.
Change in Laws TO Extend
Federal Reserve Redis-
count Period Is Sought

the great American cotton raising in
Gastry If it is 60 weather the storm of
depression in which il is now engulfed.
This was the theme of most OF the
speakers yesterday at the opening of
tae two-day National Cotton Consulta-
tfon Conference, under the auspices of
the American Cotton Association, at
the Hotel Pennsylvania.
From statistics presented at the ses-
sions yesterday it is indicated that the
smallest cotton crop in twenty-five
years or more will come out of the
South this year, as a result of the
financial distress of growers and their
inability to market the 1920 crop. The
campaign of the association to reduce
acreage among the cotton growers has
been success, it is said. Final re-
ports made at the conference yesterday
indicate reduction in acreage plant
ed this year of 90.73 per cent, to which
as added crop abandonment because
of financial difficulties of 4.95 per cent,
and a reduction in the use of fertilizer
necessary to the growing of cotton in
the Carolinas, Georgia and portions of
other states. of SILT per cent.
1t is expected that before the con-
ventlen is adjourned tonight resolu-
tions will be formulated calling for
legislative action which the cotton pro-
duceTs deem necessary to their saliva
ton IN the present condition and for
the future well being of the industry
Smallest in Is Years
John S. Wannamaker, president of
the American Cotton Association,
struck the keynote of the conference in
his opening address, in which he as
serted that while the world as whole
Is short OF cotton garments and other
articles made OF the fiber, the grower
is unable to market last years crop.
and that while every indication points
to constantly growing demand for
cotton, the farmers of the South, who
produce about two-thirds of the worlds
crop, are this year raising the smallest
crop produced in the last quafter of a
century. The 1921 crop, he predicted,
viii be about half of that of 1920.
Mr.. Wannamaker made an eloquent
Plea for the lifting of cotton from sec
tionailsm into naturalization. Gun
fortunately" he said~ cotton has been
largely regarded as a sectional product,
without due recognition of it's real in
tflnsic value to the whole nation.
Without strong and forceful national
cooperation, cotton production in the
southern States has not responded to
that type of efficiency which has so dis
tlnctively marked the progressive de-
Vttopment of other lines of industry
IN the nation. The low price for
which the cotton farmers have been
forced to sell the staple within the
past half century has tended to lower
the scale of agricultural development
u. Uhe cotton states and has driven the
once independent landlords from the
5arms to the towns and cities. This
mas vastly increased tenantry and has
duction. p-'-
1T is the nations business to so aid
and safeguard the bandlinr and ma a,u
keting of each cotton crop that every
pound of the staple will bring to the
growers and the nation its full in
trlnsic value" he continued.
Cotton prices at present, he said. |
were established by England, rather
than this country.
Would Lengthen Credit
United States Senator E. D. Smith. |
OF South Carolina, who was scheduled |
to make an addre IS on cotton crop re-
porting, deviated from his subject to
say that accurate reporting of statis- |
tics would not solve the problem of the |
cotton growers. "We have been treat |
ing symptoms instead of the disease"
he said, land the real remedy lies in |
changing the financial laws of the |
country so that the real producers, as
distinguished from the artificial pro-
ducers, can use and command the coun-
try's wealth." He advocated the |
changing of the Federal Reserve act |
to make it obligatory upon the Federal
Reserve banks to carry rediscounted |
farmers paper for period of twelve |
months instead of six months and the |
fixing of the rediscount rates SO that |
the farmer will know in advance what |
his financing for the coming year will |
cost him. He added that an informa-
tion organization Of Senators from |
Southern and Western states had been !
formed in the Senate to push legisla-
tion designed to aid the position of |
the agriculturists.
John R. MacColl. former president of |
the National Association of Cotton |
Manufacturers, sent a message to the |
conference declaring that manufact- |
urers were not opposed to higher prices !
for raw cotton and had come 10 realize |
that the low prices now ruling for the |
staple were unwise economically The
reduction OF cotton acreage also was |
commended by Lawrence D. Tyson,
representing the manufacturers or
ganization.
Loss s2,oOO,oOo,0oo
Senator Ransdall, of Louisiana, who
is also cotton planter, said that the
loss occasioned by the defation in cot
ton had amounted to $4,000 600 600
The North felt the reaction through
ats inability to sell goods to the South.
ne said, because of the lack Of money
among Southerners to purchase mer-
chandise.
During the morning session Presi-
gent harding sent message of in
aorsement OF the aims of the conyen-
tion over the telephone.
am glad TO say a word to the
gathering OF American cotton growers.
lnssinuiacturers and representatives of
animated interests, gathered to consult
WIN a view to advancement of their
common interests" Mr.. Harding said. /
MOT only does America produce
aeout 90 per cent of the worlds supply |
OF inns universally necessary starle.
out our domestic industries, based on
cotton are among the greatest, while
our exports of cotton have for MANY
decades been peculiarly important in |
maintaining our favorable status in in,
ternational trade,
The Importance Of cotton is nat
confined to any section; evervbody
either grow& deals in, manufactures
sells or uses it. Any disaster to the
cotton industry must necessarily be a I
disaster to the whole country. Any
such as vours y,b;ch 49,