Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1921-04-02
QUICK RELIEF FOR
FARMERS TROUBLES
WILL Be SOUGHT
The Atlanta Journal News Bureau,
623 Riggs Building.
BY THEODORE TILLER

WASHINGTON, April 1.-Confer-
ences of vital interest to the 'ermers
of the country. particularly e cot
ton farmers of the south, are to take
place here for the next three or four
days The concern of the new adj
ministration over the depression in
the agricultural industry is reflected
in three ways here, and was espe-
cially emphasized when President
Harding broke his "No Callers on
Saturday" rule and agreed to confer
with representatives of the American
Cotton association.
At the same time, Secretary Her.
bert Hoover let it be known that he
would confer today, Saturday and
next week with representatives of
that association and the Cotton Seed
Crushers association. On Monday,
Secretary Hoover and members Of
the War Finance corporation will
confer with several dozen bankers
of the southern states who have been
asked by the finance corporation t.
come here to discuss means for ex-
porting cotton.
Secretary Hoover, who is cooper
ating with the finance corporation.
said he had a tentative plan in mind
for the relief Of the cotton farmers
but that he did not desire to discuss
it in advance of the conference and
a symposium as to it's practicability.
Mr.. Hoover indicated, however, that
he was fully aware that the situation
in the agricultural industry was
most serious one and worthy of i'm
mediate and careful study by the
government.
Former Senator Hoke Smith, of
Georgia, arranged at the White
House for the conference between
President Harding and J. S. Wanna
maker, president of the American
Cotton association. and Harvie S. Jor-
dan, of Atlanta, the director of the
association. The president will talk
directly with the cotton men, follow
ing their conference with Mr.. Hoov-
err, and prior to their further CONVEX
satiors with Mr., Hoover after the
meeting between the bankers, the
secretary Of commerce and the War
Finance corporation members.
1t is understood to be the belief
of the administration that somehow
long term credits must be arranged
to bring about exports of cotton and
other agricultural products. 1t was
said here today that some of the Eu-
ropean nations are ready to buy cot
ton if credits can be arranged. Mean
while, because of the lack of foreign
credits the banks in the agricultural
states are loaded down with cotton
notes upon which they cannot real-
ize just now at anything like the
face of the notes nor the cost of the
production of the commodity used as
collateral.
The War Finance corporation has
called it's conference with the south
ern bankers to discuss this situation
and the broader question of finanG-
ing cotton exports. 1t is announced
by the corporation that representa-
tive bankers in all of the cotton-pro~
ducing states have been invited 10
the conference next Monday. secre-
tary Hoover, in cooperation with the
finance corporation and supplement-
ing it's efforts, has brought the in
fluence of the department OF com
merce into the situation. Today
Developments revealed that az least
three government agencies-the pres,
ident, War Finance corporation ana
secretary of commerce-WN! unite
withia the next few days and try to
arrive at some solution Of the finah-
cial embarHa ssments now GRIPPING
the great agricultural industry OF
the country.
The plans tentatively proposed are:
Formation of southern export or
carnations to extend long credits to
European purchasers of cotton; war
finance corporation assistance to this
export movement; Edge bank organl-
cations in the south to handle foreign
credits; a method, not yet worked
out, of getting longtime credits to
the cotton farmer, so he can get cold
cash for his crop while the paper
credits are being ARRANGED,