Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-03-10
LOUISVILLE PUBLISHER TELLS
HOW CO-OPS BROUGHT JOY
KENTUCKY TOBACCO MEN

year and have paid back every cent
of that except few million dol
lars, which are not yet due and
which are guaranteed by the finest
collateral on earth.
+ when anyone says that the
thing can't be DONE: 1 say that it
has been done, is being done, and
will grow greater and greater ev-
cry year.
To Benefit Everybody
Judge Bingham dealt broadly
with the fundamental good that will
accrue to the whole people from
the growth of cooperative market
ing. He traced succinctly the de-
pendence of all cities, save a few
in manufacturing centers, on the
prosperity of those Who till the
soil. He pointed out. that radicalism
and movements of Violence are born
by the blind rage of people who are
failing to make the good living
they deserve because of their in
ability to have anything to say
about the price they shall receive
for the fruit of their labor and he
reached, the conclusion that since
the cooperative selling agencies
will give the farmers a fair profit
on their crops they will make for
better and happier nation.
Following Judge Bingham, Robert
F.. Maddox, president of the Atlanta
National bank, in speaking for the
bankers, expressed, their hearty en-
dorsement of cooperative market
ing. He told of the broad interest
bankers have in the welfare of the
public, as was eXemplified in The
formation of the Federal Interna-
tional Banking corporation, which
was organized under the provisions
of the Edge act in 1920 for the
purpose of aiding in the export
sale of cotton. This corporation was
created, he said, with a. capital oil
100000 by the joint action OF
1900 banks in the cotton territory
Chessley B. Howard, sales man
ager of the American Cotton Grow
ers' exchange, the overhead sell
ing organization which guides the
state cotton co-operatives in their
work, discussed briefly the course
of the cotton marketing during re-
cent months. -
He pointed out that the Ameri-
can crop this year was 9,750,0 0(
running bales and that $1,000 O0(
bales had come into sight by Feb
ruary l. 1t is safe to say, he de.
clared, that two-thirds of the. CROP
was sold by the farmers within the
first three months of the season.
What was the result?" he asked
Cotton which sold for a little more
than 20 cents as the season opened
fell to IS cents when the dumping
began"
cit is undoubtedly true that but
for the existence of the state co.
operative selling associations. which
held hundreds of thousands of bales
off the market, cotton would have
been driven much lower by THE
weight of the" dumping. 1t NIGH
have gone down to Is cents or ever
lower. But the consuming trade
knowing of the existence of those
hundreds of thousands of bales was
affected both practically and psy'
chologically."
The Georgia Cotton Growers as
ISOLATION was declared by Judge
Bingham to be one of the mos
successful one of the hundred co.
operatives associations in America
"It has been success while han.
ding only IA per cent of the cot
ton produced in the state. That is
remarkable. But what II greater
success it will be when it controls
a larger percentage of the crop"