The Climax-Madisonian. (Richmond, Madison County, Ky.) 1914-1917, 1915-12-22
GOOD WILL TO
Important Bill

Representative Harvey Helm intro
duced bill authorizing the licensing oI
standardized tobacco warehouses, con-
corning which he made the following
statement. MY bill aims to do for the
growers of tobacco and other non-per-
ishable farm products exactly what the
Lever Bill; that passed the House by a
vote of 219 yeas to 90 nays, the oppo-
sition coming principally from the re-
publican side, proposed TO do for the
cotton growers. There are today in
Vulnerable farmers and tenants in finan-
cial stress, who are compelled to market
their tobacco without delay in order TO
discharge their financial obligations as
we'll as to obtain the necessaries of life:
this dumping gluts the market, knocks
the price down to the great loss of the
financially weak as we'll as the strong
farmer.
Ii would give the warehouse receipts
issued by government licensed ware
houses for storing tobacco the same
status as 10 bank credit that the present
day bonded whisky warehouse receipts
now have.
1t is the supervision and control, sue h
as is given in this bill, by the United
States OF the bonded whisky warehouses
that gives that warehouse receipt its
prime bankable status. as well as its
addeptabiIity by the Federal Reserve
Board as commercial paper.
Having such agricultural ware
houses. licensed and>bonded by the
government, the agticnltist all over the
country and especially the tobacco grow
er, would have the same facility for
handling, negotiating, and slowly mar
keting his crop that the .distiller now
has in his business Any number O
moneyless, and even insolvent disiillers
operate for years, doing enormous busi-
ness On an unlimited credit, which
they can obtain without rushing their
products on the market, solely because
their warehouse receipts from bonded
and licensed warehouses, supervised by
the Federal Government, pass as prime
collateral at the banks. The tobacco of
one or many farmers, as we'll as wool,
grain and other none-perishable pro-
ducts, stored in such licensed and bond
ed houses, would furnish the holders
with warehouse receipts that any bank
would lend on up to their par value; and
the grower of the tobacco and all similar
products would be independent OF the
trust, and rid OF the necessity ofineffeet.
ual efforts at cutting out crops, and at
tendant evils
When the war began, the shipping
trust look The advantage Of the situation
10 raise rates on tobacco 10 a prohibitive
point. The President and a democratic
congress would have enacted into law
the shipping bill providing for this emer-
gency, but the world knows how il WAS
made impossible in short session by
the unpatiotic trust controlled Repnbli-
can Senators, in we'll organized fill
ibnster that threatened to ouilast the
session. and throw the Government into
business confusion during world wide
war; Even with shipping trust. a
shipless country could be independent
of them and OF ship-con' rolled Senate
minority. were there Government-li
censed ware houses to hold the surplus
Q ops, issuing bankable receipts on pro-
ducts that would continue to increa Sc
IN value while the unsalI SIZED demand
and emergency continued" The 6fll
aids individual initiative. is devoid Of
- 4"