Missouri Valley times. [volume] (Missouri Valley, Iowa) 1874-1931, 1913-04-10

How Plan Would Work.
''rhe objects of the company should
be to loan money on mortgages not eN-
ceeding in any case 90 per cent of the
ascertained value. In amounts TO be
repaid either in instalments or long
terms: to purchase and sell land mort
cages, bonds or land debentures, with
authority to loan produce growers CO.
operative associations where properly
organized and incorporated under the
laws of any state or states giving safe
protection to lenders. Such loans TO
farmers associations should be con-
fined to warehouses, elevators and cold
storage plants. all of which should be
constructed under rules and specifica-
tions approved by the federal company.
The loan in no event should exceed 90
per cent of the actual cost of the prop
erty which should be located ON land
owned by the agricultural association
applying for the loan. or on land under
lease for long term of years owned
by or adjacent TO railroad where
track facilities could be had TO ex-
pedite the movement of products TO
and from such warehouses.
Loans should be made only on such
warehouses. elevators or cold storage
plants as confornled to the require
ments of the banking laws i'm the lssu-
ance of negotiable warehouse receipts
either In the forwarding warehouses;
elevators or cold storage plants, on
warehouses constructed at market cen
ters from which distribution of the
products were to be made.
Only Need Corporation.
"ln going To the public and To Wash
ington, it should be made clear that
you are not asking the government for
funds to build up agricultural credit.
but only for its friendly cooperative
interest in building up financial insti-
tuition which Will, with proper security,
enable those engaged in farming, to
find money at lower rates for long
period on lnstaiment payments,
Neither should Your action be antag-
onistic to present banking methods,
banking interests or any national mon
etary system that may hereafter he
adopted You have the friendship of
those now engaged in banking business.
They can and will help you in amy work
that means more to the producing
class"
Mr.. Yoakum does not think the rail
roads are oNerpaid when they receive
a little less than 4 per cent for haul
ing produce for which American house
wives paw $13000,000. when the other
selling costs and the waste amounts
to 30 per cent. or S6.b0O.000. He says:
The railroads are an important fac
tor In this question, and there is moth
ing 10 DE gained, Dut iol W ne lost pS
grindin. the railroads to a point where
they cannot make sufficient money to
do their share towards cutting out the
| farm waste. The better the railroads
are. the more eypeditiously they can
| haul the business, put they must have
| the money to put their roads in proper
condition for safe and economical OPP
| Grafton.
| vegetables cannot be hauled in coal
cars and fruit cannot be transported in
cattle cars. The vegetable and fruit
business must have the best up to-date
cars to handle the business. from the
farms to the markets in the best cond1-
ton. The railroads want to do their
share in providing economical and ex
| tensive means of handling food to the
different markets of the different cities.
| but the cost of doing these things and
manv others not enumerated is very
I large and will call for hundreds of mil
lions of dollars. AS things now stand
the railroads are unable to do as much
as they should like to do. The reason
they cannot do this is that they cannot
| find the money to pay for additional fa-
cilities and aid in many ways to build
up the agricultural interests.
Need More Railways.
4 "'rhere are now not more than 900
miles of new railroads under constr,lc-
| tion." said Mr.. Yoakllm. ut would re
auire the construction of $4,000 miles
! of additional railroads to furnish the
same transportation facilities west of
the Mississippi river that there are east
of il on the basis of area, That great
area OF rich country cannot grow as 1t
should on 1000 miles per annuin of
newly built railroads
Our public men as a rule have not
| realized what confrontS us in the way
of agricultural development. The pro-
.l,,
movement to the market and its rcla-
tons to the consumer require as much
scientific and intelligent consideration
| as do raw material to the manufactu
rer and its relations to the consumer In
readjusting our present tariff sched
\ uleS.
Louis w. Hill took the place on the
program of f. +. Belts. of Chicago. and
spoke on the subject. How 'rranspor
tation Lines are Aiding in the Market
| ing of Farm Products
Secretary Houston's View.
What may be expected from the fed
| eral government was the subject TO be
taken up during the afternoon by w.
~. Spillman, special representative of
David r. Houston. Washington. d. O..
secretary of the department of agricul-
ture. Mr. Spillman said in part
| 1T is becoming more and more APP
parent that increased production will
not of itself meet the needs either of
the farmer or of the city consumer. 1t
lis now generally recognized that the
problems relating to marketing are
4 quite as important as those relating to
productions IT, indeed. they are not
more so. The present movement for
cheapening distribution is therefore
timely. am of the opinion that it will
have vastly more effect on the cost of
llivin" than amy other movement relat-
| ing To agriculture.