The recommendations in the re
port are far-reaching and show that
the entire ground was very carefully
gone over. Under the provisions the
delegates in the conference call upon
their representatives in congress to
amend 'he federal crop reporting sys
te , so that statistics covering cot
iof[ consumption will be Included; the
conference demands the prosecution
of the bears in the exchanges, who
sell cotton they do not possess, hold
ing that the bears are guilty under
the Sherman act, if the bulls are to
be prosecuted for buying cotton and
advancing its price.
The warehousing system is advo
cated, with the issuance of ware
house receipts that can be readily
negotiated at low interest rates in
any of the commercial centers of the
world. The governors of the several
southern states are urged to take the
action necessary to bring about the
warehouse system.
The conference recommentis that
all unsold cotton be withdrawn from
the market and disposed of by a
gradual system of marketing. Bank
ers and business men are urged to
co-operate with the farmers in the
withdrawing plan.
Another important reomuunnuuLluu
is to reduce the acreage of 1912 25
per cent below the acreage of 1911,
and the conference calls upon con
gress, in the event that congress en
acts any legislation f4r emergency
currency based on commaercial paper
underwritten by banks, to include in
such emergency curren commercial
paper representing tr isactions in
cotton, cotton goods other man
iufadthred products.
The conference pledges the utmost
of its power in obtaining for the pro
ducers of cotton and all other crops,
farm, forest and mine products, a
fair return upon investment and a
fair reward for labor, and protests
against the policy of sacrificing the
producer.
In conclusion, permanent organ
ization is recommended.
