Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1921-06-03
looking forward with pleasure to the
building of the swimming pool and an
ticipate many cool hour spent there.
FOR THE COTTON INDUSTRY
Growers and Manufacturers Hold i'm


portant Conference in New York,
New York, May 31.-American cot
ton growers, manufacturers and af-
f1liated interests, at their national con-
ference in New York Tuesday, called
upon the federal government to aid in
the rehabilitation Of the cotton indus
try The government was urged in
resolution:
To authorize and grant a more lib
eral expansion Of credits on farm
loans.
To lower the federal reserve bank
rediscount rate without delay to a
figure not in excess of per cent. on
the rediscounts 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 Aneri-
can raw products, so as to stimulate
the movement and consumption of
such commodities as rapidly as possi-
BILE.
Restriction Of credits and high rate
of rediscount charged on farm loans,
the resolution said had rendered it
impossible for farms to plant and cul-
tivate normal cotton crop In 1921
and indications were that the cotton
acreage would be the smallest in the
last 25 years.
1.-The cotton growing industry and
the entire agriculture of the nation"
the resolution added, "are suffering
from unspeakable losses in price val
ues and stagnated markets in America
and restricted exports.
Dchation in farm values which was
so unexpectedly precipitated upon the
country in August, 1920, found the
cotton growers with their crops ready
for harvest and without power to pro-
tect themselves from the debacle OF
constantly lowering prices.
The crop was produced at the peak
of high cost and the growers found
themselves facing bankruptcy values.
From an expectancy of S2,5O0,O00,0Oo
for the cotton crop in July Of 1920,
when cultivation ceased, the growers
of that crop sustained loss of ST.
SOC. .OOO 900 net, part Of which was
profit but represented a net loss de-
duction from the actual cost of pro-
duction."
It is proposed to have governors Of
cotton growing states appoint a COM
mission to work out plan Of cooper:
alton in stabihzing cotton price? =
President Harding's message to the
convention extending the cooperation
of the administration in improving
conditions in the cotton industry was
declared to be one Of craftsmanship
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 econ
omic and efficient reforms in the pro-
duction handling and marketing and
distribution to the future success OF
the industry"
The American delegates to the
worlds cotton conference to be held
in Liverpool and Manchester from
June 12 to 90. were instructed to urge,
the adoption If the United States STAN
dard of cotton grades in the internat-
ional marketing of American cotton
between American exporters and for-
eign purchasers of the staple
About 800 representatives of the in
dustry sailed Wednesday to attend the
London conference.