The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1921-06-04
Cotton Growers
Campaign
Join With Manufacturers and
+. Affiliated Interests in Calling
on Federal Government to
Aid in Rehabilitation of
Industry - Situation
Discussed in Reso-
luton

New York. May 31.-American cot
ton growers. manufacturers and af-
6liated interests. at their national
conference today. called upon the fed
eral government to aid in the rehab-
ilitation of the cotton indnsry. The
government was urged in resolution:
To authorize and grant a = 2ore lib
eral expansion Of credits Esa farm
loans
To lower the federal reserve bank
rediscount rate without delay to a
figure not in excess Of 5 per cent. on
the reduscounts Of farm products and
all commercial paper.
To instruct the war finance corpor-
alton and department Of commerce to
render all possible aid in opening
up exports for cotton and other
American raw products, so as to slim
ulate the movement and consumption
of such commodities as rapidly as
possible.
Restriction of credits and high
rate Of rediscounts charged, on farm
leans. the resolution said had rem
dered it impossible for farmers to
plant and cultivate normal cotton
crop in 1921 and indications wers
that the cotton acreage would be
the smallest planted in the last %
years.
THE cotton growing industry and
the entire agriculture of the nation"
the resolution added, ARE suffering
from unspeakable losses in price val
ues and s.agnated markets in Amer
ica and restricted exports.
Deflation il farm values which was
so unexpectedly precipitated upon
| the country in August, 1929. found
the cotton growers with their crops
ready for harvest and without power
to protect themselves from the de-
bacle of constantly lowering prices.
The crop was produce4 at the,
peak of high cost and tn i growers
found themselves facing a. nkruptcy
values. From an expectarlN ~ OF ST.
5oO,0Oo,O0o for the cotton cg,p in July.
Of 1920. when cultivation ceased, the
growers of that crop sustained loss
of s1,500. 100000 net. part Of which
was profit but represented q. net loss
deducted from the actual cost Of pro
duction.'
1t is proposed to have governors
of cotton growing states appoint a
commission to work out a plan Of CO.
operation in stabilizing cotton price?
President Harding's message to
the convention extending the coop
Grafton Of the administrator in i'm
proving conditions in the cotton in
dustry was declared to be one Of
sta a.esmanship and true Americanism.
A message was sent to the presi-
dent thanking him for his interest.
All departments of the industry
were asked to cooperate along
sound and conservative business lines
for the speedy enactment Of those
economic and efficient reforms in the
production handling and marketing
and distribution of the cotton crop
which are essential to the future sue
cess of the industry
The American delegates to the
worlds cotton conference 10 be held
in Liverpool and Manchester from
Juno II to %. were instructed to
urge. the adoption Of the United
States standard of cotton grades in
the international marketing of Amer
lean cotton between American ex-
porters and foreign purchasers Of the
staple.
About 800 representatives Of the in
dustry Will sail tomorrow TO attend
| the London conference.