, 1935-01-13
U.s. Cotton Program
Druu1s Criticism Of
WeU-Knou,n Editor

opment Of the canning industry.
Quoting a New York canning COM
pany executive, Molyneaux asserted
that the Valley and the Pacific
Northwest could look forward to
much development OF this industry.
Molyneaux surprised his listeners
by informing them that he had
ascertained since his arrival in the
Valley that cotton would yield the
Valley about. S5.000.000 this year.
more than any other crop. Because
Of this face. he reviewed the en-
tire cotton situation as II affected
the individual farmer, both from
national and international view
points.
Charging that all OF us have
been eyading realities" since 1919,
when the depression really start
ed" Molyneaux pointed TO the pres
ent high tariffs on imports and the
topheavy loans OF private and gov
ernmental funds to foreign nations
as important contributing factors
in continuation OF the present &C.
onomic and financial troubles of the
nation, he advocated cancellation
Of huge decreases in war debts due
this country 70 permit resumption
OF foreign purchases Of American
goods. He asserted that devalua-
ton Of the dollar had virtually
ruined American export business
in many lines because Of exchange
difficulties. He said he found at
tentive listeners in Washington Of
fetal life of his views on var debts
and the tariff question with their
relation TO economic advancement
but that the politicians were afraid
TO take any action because the
people might not like it," He re-
called that the politicians did To-
thing about prohibition until a ma
tion-wide magazine poll showed a
majority Of three to one against IL.
Returning to cotton. MolyneauX
charged officials and employees Of
the Agricultural Adjustment Ad-
ministration and the Department
OF Agriculture with spreading false
information among Southern cot
ton growers concerning the increaS-
ing Importance OF other cotton pro-
ducing countries. He said that
farmers were being told that Bra
zil. one OF the biggest cotton coun-
was increasing its acreage but
slightly, whereas the truth OF the
matter is that Brazil next year will
be about 100000 bales OF cotton
as compared with $4,000 bales last
year. He asserted that cotton brok-
erS, buyers and factors are invest
ing heavily in Brazilian cotton
plantations and that the federal eX-
port corporation has loaned money
to allow expectation OF ginning
equipment manufactured in this
country TO Brazil for use in pre-
pairing that country's cotton pro-
duction Tor shipment into the
world markets formerly dominated
BY the south.
The we'll known economist care
fully explained that he was not at
tempting TO find fault with every
thing the Roosevelt administration
had been doing but that its policies
relating to cotton were ''inconsiS-
tent He pointed out that the
government had made IL harder for
foreign nations to buy from the
United States because OF high tar
ifs and devaluation OF the dollar
had cut the cotton crop, then hac
"pegged" the price. thereby bring
ing about a situation in which for
eign purchasers could not buy be-
] cause of difficulties OF internation-
al exchange. For the first time In
history. the speaker asserted. the
United States imported more golc
than any other country during the
first six months OF 1884.
The first step out OF the depreS-
sion. Molyneaux declared. is to re-
wise wal debts. thereby making II
possible for foreign nations 10 agar
buy from this country, and TO re-
| build this country's export trade.
Other speakers during the meet
ing included Marc jenkins. Mis-
sion and McAllen oil man. who tolc
the newsmen the Valley needed
most Of all TO engage in a nationa'
advertising campaign and 70 en-
list retired business men who hac
come TO the Valley TO make their
homes in the Valleys development,
Miss Sybil Leonard Of Mission. who
delivered a prize-winning grafton
The Challenge Of Christian Citi-
| zenShip:" and Mrs. Grady DonadI
of Mission. who presented & hum
orouS reading.