The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1920-06-04

LlnSeeu Obligations 10 II
Nails-pounds $50 500
Overalls-pairs .................... Ii 20
Pitchforks-each ................... q q
Rope, hemp-pounds ............ 100 12a
Sacks, grain-each ............. 80 Ill
Sugar-pounds .....................2 1884 287
Irvine, binder-pounds ....l43 l62
The province of Manitoba, Canada,
is following North Dakota's lead by
going into the banking business.
Bankers there have refused to COOP
crate with the provincial system of
cooperative rural credits on the pro-
per basis, and the province is going to
accepts deposits direct for loans to
the societies.
1t will pay per cent for short
term deposits and IA per cent on de-
posits of more than three months, as
compared with the 8 per cent which
the banks row offer. We suspect
that the bankers will soon find that
they can pay 4 per cent too, and that
they will regret the grasping policy
which forced the province to take this
move.
Manitoba's rural credit system,
which was established in 1917, has
several distinctive features. Local So
cieties are formed, the members of
which subscribe to stock and pay
down 10 per cent in cash. The local
government and the provincial gov
eminent then subscribe as much more
This paper is then taken to the banks
as security for loans to the societies.
The societies in turn lend the money
out to individual farmers. Since the
society officers are in close touch with
the local people and conditions they
are safe in lending on much better
terms than bank would Offer A
farmer with surplus feed stuffs, for
instance, might get the full amount
to buy feeder stock for. All society
service is furnished without cost by
volunteer officers.
Backed now by direct provincial
banking the system offers possibilities
which our states might we'll inquire
into. In 1919 40 small societies there
obtained over $1,000,0OO for farmer
members. 49,. CT:
Since the first of the year Paris
paper, L'Opinion, has been making
public the documents on the attempt
to make peace in the spring Of 1917.
1t appears that at that time messen-
gers went back and forth between
Austria and England and France,
and that the terms actually possible
were much different from those made
public by Count Czernin, the Austri-
an minister of foreign affairs. Aus
tria evidently was willing to make
peace long before she was actually
defeated in the field on the basis of
creating southern Slav kingdom,
l., .sc|y from her territory, of restor-
i;'.: Belgium, and of doing her best
20 force Germany to make similar
t. rs.
i. general these "Prince Sixtus"
''o"N';'t mis- show that what stood in
III" way OF p,ace was not fear of
=" ."'::,:y bat territorial ambitions
which could not be settled except by
l','.c Of arms. The whole series
SLOWS not one sentiment or reason
fey continuing the war higher than
':,''l grabbing
We are not told as to just how
much each side had to have to agree
to peace or the relative values of ter
ritorics claimed. Tut we do know
that the diplomat; could not strike
a bargain, 81, Is aitelward the
Russian lEVtru: :umi~'.: y NO., ,ced Con-
stantinollc !: Il ;,J iis:,"'| III, secret
treaties, ;~i II: n. :.i:>.i t.ien an
nounced way aims in conformity with
public opinion. itih:f@ one OF the
reasons why the ~" ':.'s" one and
one-half yeala longer is; found in a
remark >attribu: .le documents
to Lloyd Georef: The support we
will get from America will enable us
to continue this war indefinitely"
Request for an immediate embargo
on sugar by Palmer's flying squadron
of profiteer hunters should not be
taken too seriously by the public. In
the last four months about $4,000
tons of sugar have been exported to
Europe, but the cutting off of this
business would have no effect on To-
cal prices. The price is high because
a few interests have our sugar sup
ply corneretl, and the corner will con-
tinue even if a small foreign trade
is cut off.
In fact there can be little doubt but
that there is an excess of sugar in
this country. Many sugar compa-
MES in 1919 sold only 20 per cent of
their output, says the Financial Re-
view. "Our figures show total cane
and beet sugar available of $3.50, 600
tons in 1919 and apparent domestic
of 3,356000 tsns, or an
production against CON-
without counting any on
hand supplies"
Yet in 1919 wholesale sugar prices
advanced from around t. IL cents
a pound. This year we have had
about 100000 tons from 1919 and q
record production in CuDa (ccntrulled
by our sugar trust) and in the beet
sugar sections.
When the price of wheat advanced
in the markets last season the vuv-
e eminent grain corporation stepped in
to hold it down. Il has don, nothing
10 check the outrageous sugar sptcu.
lation. The difference Is all the dit.
fsrAneA het v,A>n The fSv,rnavs anil AhA