South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-11-09


Fa-S2e sfIu needs American food
stuffs in large quantities. despite de-
elinsug imports and "a larger produe-
ton the world over. as reported by
The international institute OF Agri-
culture. than the fve-year average.
excepting oats and wheat Foreign
exchange rates continue demon
allied and. together with the delay
I'm extending credit. bar the way TO
exports commensurate with exports
OF the past year. The Edge bill.
while opposed in some quarters az
giving large export corpora tions an
opportunity 10 govern and depress
food prices in their own interests.
nevertheless has made progress in
the house, following It's passage by
the senate n remains "a question
who viii supply the three and one
half tons OF cereals italy is reported
TO need during the next year.
Earnings are Hit.
The packers earnings during the
past six months Of their fiscal year
were hit by falling export trade. In
some measure the packers shared
the loss occasioned by declining
prices with the farmer. If involun-
tarily Now word comes that credit
arrangements are made almost iaily
10 finance German purchase OF hog
products. Provisions have shown
greater strength owing TO the inn
proved export trade in meats lard
grcases and tallOw The packers
large stocks accumulated abroad
with view TO shipment into Ger
many after the armistice. have been
reduced Whether the hos market
viii show continued hrmness. or
viii merely rally and react remains
To- be seen.
The probable effect Of The Ontario
tCan.) farmers recent political sue
cess upon their broader state and
.uational participation In politics
during the reconstruction period,
both in the United States and the
Dominion. has been much discussed.
Doubtless it will lend some impetus.
AT the same time il may infuse ok
listing. and perhaps opposing pOliti-
cal factions with new energy and
result in the Creatio:. OF progress
sive and constructive program com
mensur1te with present needs. No
vitality important issues. contested
10y the different parties were at
stake i'm Ontario. and the farmers
movement therefore does not repre-
sent the assertion of "a single class
interest. but rather SINNERS down
TO question OF efficient admins
tration
Farm Loan Act Valid
Constitutiouahly OF the federal
farm loan act has bceu affirmed i'm
Kansas City court under the per
~suasive influence OF such noted leg
al talent as Charles +. Hughes VIII
liam G.. McAdoo and George Wick
ersham. who declared that congress
has the right to raise and appro-
pirate money for tho systematic sup
port of agriculture and may grant
immunity from taxation when il
sees IT.. and that without eXemp-
sion of land hank securities from
tuNation these hauks probably could
no, exist.
The house Of representatives, has
uasscd. and tho senate VIII consider.
legislation permitting tie use or
farm bank loans to discharge any
form or irdcbtcdncss. authorizing
loan committees to have farm APP
praised by others instead of per
forming this work themselves ana
providing for the borrowers auto
matte admission go associa ton mem-
Hership when his loan is granted.
.,ud for simpler methods OF repay
iuG part of "a loan Loans now oh
tain7bIe may &c applied only TO in
dohtedness incurred for land. inn
provements. and Equipment TIL"
smendments are expected 90 inn
crease the popularity and useful
ness of The farm loan banks and
result iu a very considerable extern
sion az credit 20 agricultural inter
este