Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-22
Reduced Acreage Demanded
AS Part of New Cotton Plan

Much is expected In cotton-growing
States from the cooperation Of South
ern bankers, the American Cotton CO.
operative Association and the Federal
Farm Board in a plan for holding cot
ton off the market and in the hands of
the farmers. It is. pointed out, how
ever. that the success of this move
ment must be dependent on reduction
Of acreage. Extension Of credits is en-
phasiZed as the feature Of the project.
Whatever success the comparatively
supported holding movement obtains in
keeping any considerable number of
bales off the market" according to the
Fort Worth Telegram, will have
double effect. Not only will the
actual holding afford check to the
runaway buyers market, but the exist
ence of the cotton in warehouses In the
names Of individual farmers will serve
| to hold down still further the acreage
which these farmers will plant next
year Regardless of whether various
statutory attempts to reduce the acre
age may have effect or prove fruitless
| in themselves, the prospect Is that the
| greatest year-to-year cut in cotton pro-
| duction ever recorded will take place
next year. 1t is to the interest of the
| South, and to all the interests OF the
the price gain which this reduction GER
tainly will produce" ..s........ --.,..-..
Believing that if this campaign should
succeed "a great deal might be eX
pected of the acreage reduction move
mcnt;" the San Antonio Evening News
sees an opportunity to keep the 1881
crop temporarily off an unwilling mar.
| ket" The Columbia Is. c. Record
| points out that the proposal Ito carry
| 1000, 600 bales Of the country's market
breaking 10000, 000-bale crop over until
| next July has obvious virtues" in that
1T offers a means of attaining orderly
| marketing in an hour heretofore dis
| tinguiShed only for hySteria, and makes
1t possible that the grower and not the
Spectator shall be the beneficiary Of
price increases, if any" Adding that
another years grace on cotton debts
will do no good unless it means also
that cotton production is decreased"
| the Record concludes ITO make the
| proposed credit extension contingent
upon binding contracts with the farmers
| to reduce their production next year in
proportion to the number Of bales held
over by the refinancing plan would be
something more than temporary ges-
/ ture. It would be long and logical
! carry-over surplus, and 1t Is easy OF
attainment"
| x
''1f the 1882 crop is not held down to
| i,:iimum, there will be q recurrence
OF the same difficulty that Is being eX-
perienced this year" advises the Tex
arkana Gazette, while the Dallas Jour-
nal, holding that the plan sis the most
important and most promising holding
movement yet attempted" adds that
the effectiveness will be largely deter
mined by the planting Of next year"
The Charlotte observer contends: THE
only possible influences that could boost
the price materially would be sub
stantial reduction of the present or
prospective supply Of cotton and i'm
provemef1t in general business condl-
tons that would put more money into
circulation, give employment to the un-
! employed and increase the buying power
Of the public, so as greatly to increase
the consumption of cotton goods"
Quoting q cotton experts statement
that cotton prices have reached the
bottom" the Charleston (S. c. Evening
Post says Of the future: There Is GER
tain to be some increase in demand,
both from users and spectators. If
this Is followed by heavy curtailment
by planters unable and unwilling to
risk another year of and cent cot
ton. prices will unquestionably rise. AS
world conditions improve and the de-
mand broadens. which it must to care
for even minimum replacement needs,
! prices will rise still higher. Eventually
the cotton situation, like others, will be
back to normal, but It will not be as 4
result Of ANY 81 tie eanetS that South