The Record-courier. [volume] (Gardnerville, Nev.) 1904-current, 1920-10-15
MAKE
APPEAL FOR
HELP

department, on the ground that farm
ers generally will face heavy losses
unless the downward trend of prices
of farm products was checked, were
taken today by a special meeting OF
agricultural interests called by the
American Cotton Association.
Senators Oyermann of North Caro-
lima and Harris of Georgia, who are
connected with the movement, called
at the White House to prefer a request
for the conference with Mr.. Wilson
and his cabinet and we're told by Sec
retary Tumulty that they would re-
ceive an answer from the president
tomorrow
The senator's laid stress on the ne
cessity for prompt action at the regu-
lar fall conference OF the federal re-
serve board and governors of the va
rious reserve banks. The question of
interest rates, II is saidswould be con-
sidered at the conference. The ag-
ricultural representatives here de-
clared they wished to present their
views on the whole question of crop
financing before action was taken by
the federal authorities.
Before adoption of the resolution
proposing to take the problem to the
president speakers repeatedly de-
nounced the deflation policy of Seere-
Houston Farmers stood to lose
billions unless the government acted
to check the fall of prices. they said.
adding that In many cases market
prices were now below the actual cost
OF growing.
The result would be greatly reduced
production next year, they said. of
means to remedy the situation was not
found.
A charge by former Senator Marion
Butlr OF North Carolina that there
was conspiracy of officials to force
down the price of agricultural prod
ncts brought a protest from John j.
McSwain OF South Carolina.
II cannot believe one OF. them cap
able of conspiring to rib his fellow
man." said Mr. McSwain II believe,
however. they made an error of judg-
ment Let's reason with them and
see where they made a mistake
]. J. Brown. agricultural commits
sioner of Georgia, and Senator f. ID.
Smith OF South Carolina also protest
ed against statement by Mr.. Butler
that the country was about to face a
panic as result of the deflation pol
icy.
A general committee composed of
representatives of each agricultural
organization attending was named to
draw up a statement to the public re-
senting the light OF a grower in a
Senator Smith suggested that the
farmers find out their legal rights un-
der the federal reserve system and de-
mand them.
"If 40-cent cotton is proflteering. II
50 wheat is speculation, who says 1t
is?" he demanded. "Who in America
gives any one the legal right to fix
the price OF anything"
The senator said he did not see any
authority In the federal reserve act for
contraction OF credits. II don't be-
lieve the law gives any administrative
officer the righh to say what kind of
business shall have credit and what
shall not" he asserted.
Declaring that the New York re-
gional bank had made 200 per cent
profit when the law allowed it only 6
per cent. Senator Smith said "They
are robbing us in interest to pay
taxes"
"Just let this situation continue,
said the senator. and "let the wheat
men cotton men and the cattle men
say. Here Is our price. We demand
our rights and we will not loosen up
one pound OF meat, wheat or cotton
until weget them"
A suggestion by j. S. Wanamaker
that committee be appointed to
work for federal revolving funds OF
$1,000, 100000 to be used for the eco
nomic handling and marketing OF
crops was not acted upon. Ben Marsh
of the farmers national council pro-
testing against the motion, saying no
one body could be said to represent all
the American farmers, for some were
reactionaries. some reformers and
othes radicals.
Mr. Marsh also opposed a strike Of
farmers. which, he said, was suggest
ed by Senator Smith, adding: Every
body knows there is no panic. Let us
not be bolsheviki."
John Trumbuil of the Kansas farm.
ers' union said II had been estimated
that the cost of this years wheat cror
was above $21 per acre. The cost Of
the tenant farmers, he said, was
placed at $277 bushel. He thought
W bushel would just pay the cost Of
labor and expenses of growing the
crop. not counting any for fertilizer
and depreciation of land.
Continued on Page Six