The gazette-times. [volume] (Heppner, Or.) 1912-1925, 1920-12-02
SERIOUS SITUATION IS
FACING FARMERS NOW
Plan Adopted In Iowa Is Suggested As
One which Would Work Out In Ore
gon.
l.. A. HUNT,

In Mondays Oregonian Emerv Ohm
stead, president of the Northwestern
National Bank of Portland. is quoted
as saying that there Is plenty of money
to carry on legitimate business and that
there is no reason for being pessimistic
as TO the future financial situation Of
the country.
We are wondering what they con-
strue in Portland to be legitimate bust
ness He mentioned the financing of
clients in foreign trade movement and
in building up business which will
create returns on investment and help
In general development Several other
prominent bankers speak of the fact Of
easy money market for bond sales.
That there Is more money in the coun-
try than ever before. That there Is no
reason for being pessimistlc.
The editor Of the Oregonian makes
the following statement in the same
Issue: Finally, evidence Is lacking
that banks have refused loans on the
farmers wheat or the Federal Reserve
banks have refused to discount their
notes. though they have doubtless seal
ed the amount OF loans as the price
fell"
The farmers Of Morrow county and
Oregon In general would like to know
where this money is and IL the Federal
Reserve banks will accept the farmers
note. how they are going to get In
touch with them. 1t Is generally un
derstood that the Federal Reserve bank
of the West Is discouraging the loaning
of money on wheat.
II the editor of the Oregonian lacks
the evidence 1t can be easily supplied
We know of at least dozen men who
have gone to Portland and have been
unable to obtain money on wheat, on
Liberty bonds on land, or anything else
without actually parting with their
wheat. We know of a prominent grain
dealer who is trying to obtain personal
advances OF money on wheat for his
clients in interior points, He has been
unable to do this.
II there Is any way In which the far
mers may come in touch with Federal
Reserve systems In this line, anyone
who can give the evidence will certain
ly confer a great boon on the Oregon
FARMER
we kho" OF instances Where men
nave eohe 10 Portland banking ihsu
tutiohs ana oHered 10 put up s4ooo IN
L'oerts oohus 10 optaih ioarl OF sooV
and have been refused We believe
that the situation is general all over
the state Oh oregon we see no reason
why the portland paper should come
out ana make such statement as IL
mas fhaoe' ana we peileVe 'he people OF
tne STATE are eht''ieu 10 reailHauoh
OF "ha' 'he FARMERS are oenhiteiy up
against
Ihe time is at hand now when 'he
farmers Vi Eastern oIesoh shouiu oe
proving the sufhhefiailo" lor next
year "l'hout regard 10 "hat security
'hese men nave 10 oHef' DC IL ever so
good ehey are apsoiuteiy uhaoie 10
OBTAIN money 10 puS ulstiiiate' 10 ou!
leed' or 10 pay OH hired heip OF puy
supplies 10 carry on thelr operations
uhless something Is dohe III the very
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