Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1920-12-03
FARMERS ASSERT
THEY WILL BURN
CORN IN STOVES
NebraSkanS Threaten to Use
1t For Fuel Because Pres
emf Prices of the Grain
win Not Pay For Coal.

| Washington, Dec. 1.-THE pligh
+ of farmers due to falling prices wa
taken to congress today.
Agricultural committees of tn,
senate and house, in joint session
began hearings on condition!
brought by falling prices prelimi
nary to devising relief measures
They decided to ask Secretary
Houston and Governor Harding d
the federal reserve board to come
before them tomorrow after Eu.
gene Meyer, Jr., former head of the
war finance corporation, had de.
clared that rehabilitation of thai
body would go long step towards
furnishing the desired relief by
financing exports of surplus crops
Senator Hitchcock of Nebraska
told the conference he planned &c
introduce measures making availa-
BILE the profits of the federal re-
serve banks, amounting to about
$50, 900 900, for loans to agricul-
tural interests. Governor Harding,
with whom the Nebraska senator
conferred, issued a statement, say
ing that neither he nor the board
had taken any stand on the prop
osition. He declared he had criti-
cised Senator Hitchcocks plan. but
that the matter was not one within
the province Of the board as it
concerned the use of funds which
the law required be paid into the
treasury.
Wants Billion for Germany.
Legislation extending billion
dollars credit to Germany was add
vocated before the joint committee
by j. j. Bauer of New York, who
claimed to represent the German
government, while Senator Smoot
of Utah announced he would pro-
pose an embargo on imports Of
wool for relief of American wool
growers in a bill he will offer
Monday.
Representative Campbell of Kan
sas suggested that profits of the
grain corporation, about $780, 000,-
900, be made available for loans to
farmers,
Mr. Meyer told the joint commit
tee that the act creating the war
finance corporation was passed
four months after the armistice and
intended by congress to bridge over
the situation by financing exports
until normal economic conditions
were restored. He said conditions
now were those which congress had
in mind in enacting the measure
and that restoration of the corpora
ton would have tremendous sta
effect.
Say They viii Burn Corn.
Farmers in some sections of Ne
braska have said they will burn
their corn because at current prices
it would not pay for coal, l.. O.
Scroyer, secretary of the Farmers
Union of that state, asserted. He
urged further credits, immediate
to export surplus crops
4 protective tariff and appoint
ment of a dirt farmer" as secre-
iary of agriculture.
Opposition To the "reyamp-
ing" of war time government
agencies for peace time opcr-
atiCn, was expressed i'll a state
mCnt by Senator Edge. rcpub-
lican, of New Jersey. He was
anxious, he said. to help the
farmers and other classes
equally, but added that con-
sumers were tired of high
prices.
1.-The only durable and in
fallible barometer of business
IL the law of supply and de-
mand." Senator Edge said,
land to set up an artificial, I'M
economic and false structure
for the maintepancc of prices,
because some certain indus
tries are suffering, is only
postponing the evil day when
all business and industry, in
GLIDING the farmers, inevitably
must face the music"
The joint committee hearing may
ontinue through next Tuesday