Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1917-05-24

(By Tom Parker Junkin)
Fargo, May 24.-Farmers represent
alive of four tates assembled in con-
ference on the question Of price fixing
on farm produce, and particularly on
wheat, went on record last night in res
the government to guarantee to the
farmers $3.50 per bushel for their
wheat Of No. l Northern grade at the
Northwestern terminals, with other
grades and other products to be treat
ed on their relative food values in like
name Also the recommendations
declare trading in futures should be
prohibited. not only during the war.
but as a permanent governmental pol
icy.
State Utilities.
While the committee was working
on resolutions. the conference indulg-
ed in an interesting discussion of the
question Of terminal elevators and
FIGURING mills within the state, partic-
ularly as to the method of financing
them as state owned utilities.
M. V. Boldly. secretary Of the Equity
Cooperative Exchange. was in favor
Of building them by general taxation,
declaring bonding issues look nice,
but we should not kid ourselves along
as we do when we say the payment Of
these bonds does not come out Of the
pocket of the producer. Every nickel
raised by bonding will come out of
the fellow who grows the grain. Direct
taxation gets it out OF everybody-the
townspeople. the railroads and every
body else"
Urge Bonding.
F. B. Wood and others contended
that bonding vas the only proper
method, and Oliver s. Morris. who has
SnSUt ~atvN~~AI %r@~a - <n&n ~ Svo~i~,,o
cities, told Of the erection of cotton
warehouses in New Orleans by state
bonding. and the port utilities Of San
Francisco as owned by the city, both
being profitable. and of. the Seattle
terminal facilities as the only one he
visited that were not paying institu-
lions.
Mr.. Morris said. however. that con-
dittons In New Orleans and San Fran
cisco did not approximate conditions
in the Northwest. f.
President J. NJ. Anderson Of the
Equity Exchange. was the presiding
officer, with Attorney Benjamin Drake
Of Minneapolis, as his right hand adj
visor. Attorney Drake has been con-
nected with the legal affairs of the
Equity Exchange since 1913. and was
George Lotus. Mr.. Drake addressed
the conference at length. and urged
h farmers of the northwest to seize
upon the situation created by the war
to establish themselves in the matters
they had been striving for.
.. Provide Terminals.
Il believe the government should
provide terminal elevators and stor-
age for the products of our FARMS
he said. I'VE must take advantage
OF the wal and strike while the iron
Is hot. Future trading has made the
commodities of the farm a football.
The Chicago board Of trade last year
had future tradings amounting to
ninety billions of dollars. on which
there were commissions Of SIS, 900. 900
paid to some sixteen hundred traders,
and yet the income from the actual
handling of real grain was only s2,-
600, 900.
"The war came and the gamblers
manipulated prices to a point where
the government was forced to stop
trading In futures, so now the orgies
OF speculation are eliminated. If we
must go to Washington t o demand
freedom from price speculation dur
ing h war, we should secure free
don from exploitation in time of
peace.
I'VE should say to Washington, IT
We acquiesce in the government pro-
gram for increased acreage and In
creased crops. We as farmers want
assurances hat our demands for the