Evening star., 1926-10-09
PRESIDENT NAMES
COTTON-A|D BODY
Appoints Commission, Head
ed by Eugene Meyer, Jr., to
Extend Federal Help.

Because Of the serious situation in
the South AS result Of the big slump
in the price Of cotton. President Cool
idge today appointed a special COM
mission to extend Federal aid.
This commission will he composed
of Eugene Meyer. jr., managing di-
rector of the War Finance Corpora
ton; Andrew w. Mellon, Secretary of
the Treasury: William NJ. Jardine,
Secretary of Agriculture. and Herbert
Hoover Secretary of Commerce.
In making this known at the White
House this afternoon. it was Stipu-
lated that this commission will at
once cooperate with those engaged in
the production. marketing and use OF
'cotton: investigate the present market
conditions of this commodity. and
render such desira bile assistance as
can be given by the Government to
the efforts already being made in the
South through the financial institu-
tions. cooperative organizations and
Federal intermediate credit banks.
Members Fitted for Task.
The White House. in its statement
announcing this action. said that Mr..
Meyer, through his connection with
the War Finance Corporation. has
had large experience in dealing with
situations of a kindred nature. and
has been requested by the President
to act as chairman of this commits
sion. having charge Of the field
activities.
The statement adds that Secretary
Mellon. through his connection with
the Federal Reserve Bank System,
farm loan banks and intermediate
credit banks. will be able to advise
about the securing OF credit which
the White House believes can un-
douhtedly be done through ordinary
banking methods.
Secretary Jardine and Secretary
Hoover will be in position to fur
nish information as to the produc
tion. warehousing, marketing and the
use al home and abroad of the pres
ent cotton supply.
Big Forecast Stresses Need,
President Coolidge was informed
by Secretary Mellon that In his belief
the Federal Reserve System is able to
cope with financing the cotton situa-
ton while Secretary Jardine has as
sured him that cotton is commodity
which lends ca asily to credit.
President Coolidge has been inform
ed by Secretary Mellon that in his
belief the Federal Reserve System is
able to cope with financing the cot
ton situa ton. while Secretary Jardine
has assured him that cotton is a
commodity which lends easily to
credit.
The cotton crop. it's size and value.
thrust itself to the front yesterday
as one of the pressing problems Of
official Washington. simultaneously
with forecast by the Department Of
Agriculture that this years yield
would he the largest in 'history-16,-
S27 600 bales.
Government officials interested in
the problem went over plans by which
the Southern farmer, his commodity
already enormously shrunken in value
might be placed in a position to meet
the situation facing him. Southern
members of Congress busted them
selves in seeking ways and means to
help.
President Coolidge was brought into
the conferences by Senator Robin
son OF Arkansas, the Democratic Sen
ate leader. who visited the White
House to seek Government interven-
tion in the way of furnishing funds
with which to finance orderly market
ing, while Secretary Jardine. In let
ter to the president of the Alabama
Cotton Association. outlined plan
for extending credit which he thought
should be tried out.
The Agriculture Departments fore
casts were sharply criticized by both
Mr.. Robinson and Representative
Black. Democrat. Texas, who has been
active recently in efforts to change
the methods of crop forecasting.