Cotton Loan Fund
Title
Cotton Loan Fund
Creator
McAdoo, W. G. (William Gibbs), 1863-1941
Identifier
WWP18483
Date
1914 November 6
Description
A report, dictated by William G. McAdoo, on the cotton loan fund.
Source
Benjamin Strong Jr. Papers, New York Federal Reserve Bank
Language
English
Text
Secretary McAdoo said today:
Highly satisfactory progress is being made in the formation of the proposed cotton loan fund. Already $80,000,000 of the $100,000,000 allotted to the non-cotton producing states have been pledged, leaving only $20,000,000 more to be subscribed. I am confident that the remainder will be provided shortly.
All talk about the plan being in contravention of the Sherman Anti-Trust laws is sheer buncombe; there is no foundation for it.
Highly satisfactory progress is being made in the formation of the proposed cotton loan fund. Already $80,000,000 of the $100,000,000 allotted to the non-cotton producing states have been pledged, leaving only $20,000,000 more to be subscribed. I am confident that the remainder will be provided shortly.
All talk about the plan being in contravention of the Sherman Anti-Trust laws is sheer buncombe; there is no foundation for it.
Original Format
Report
Files
Collection
Citation
McAdoo, W. G. (William Gibbs), 1863-1941, “Cotton Loan Fund,” 1914 November 6, WWP18483, Benjamin Strong Jr. Papers, Woodrow Wilson Presidential Library & Museum, Staunton, Virginia.