Omaha daily bee., 1920-12-14
Farm Aid
Is Voted By
u. S. Senate
Resolution Directs Revival of
War Finance Corporation
And Urges Extension of
Liberal Credits.
Grain Embargo Is Asked

Washington, ID. c., Dec. l3-Ths
senate late today passed the agricul-
ture commission resolution directing
the revival of the. war finance cor
poration as measure of affordine
relief to farmers.
The second section of the rcsolu-
ton WHICH, as introduced. would
have directed the extension of liberal
credits to farmers by the federal re-
serve system, was amended to make
the accomplishment of such course
only recommendation of the con-
gress.
The amendment making the change
democrat, Georgia, 10 make the rate
ing to the federal reserve system
was proposed by Senator Norris, re-
publican, Nebraska, and was ac-
cepted by vote of AZ to 10.
Kill Amendments.
Another change made in the reso.
luton on suggestion of Senator
Smith, democrat, Georgia, broadened
the duties Of the finance corporation
TO include the financing of exporta-
ton of products other than those
produced on the farm. Amend
ments submitted by Senator Harris,
democrat, Georgia, 10 make the rate
of discount on loans to farmers
per cent and by Senator Mcclellan,
democrat, Tennessee. to make cotton
iactorys' paper eligible for discount
wereo rejected by overwhelming
votes. A substitute for the resolu-
.ion presented by Senator Spencer
republican, Missouri, met a similar
Fate.
Final action on the resolution was
-rithout record vote. The measure
now goes to the house where a
number of similar farmer relief
measures are pending.
The section of the resolution di-
recting revival of the war finance
corporation as adopted reads:
Import Embargo Asked.
"The secretary of the treasury and
the members of the waf service
corporation are hereby directed to
revive the activities Of the war fl
nance corporation and that said cor
poration be at once rehabilitated
with the view of assisting in the
financing of the exploration of agri-
cultural and other products to for
eign markets"
The resolution as adopted refers
to the extension of credits as fol-
lows:
1T is the opinion OF congress
that the federal reserve board
should take such action as may be
necessary to permit the member
banks of the federal reserve sys-
tenn to grant liberal, extensions OF
credit to the farmers of the country
upon security of the agricultural
products now held by them, by per-
hitting the rediscounting of such
notes of extension at fair and rea-
sonable rate of interest"
The senate agriculture committee
during the day continued its hear
i1gs with view to framing other
measures looking to the relief of the
farmers from the conditions brought
about by falling prices.
The house received an addition to
its collection of relief measures in a
bill offered by Representative
Young, republican, North Dakota,
proposing an embargo on imports
of grain and grain products, live
stock and their products for one
year.
Purchase Proposed.
Purchase by the government of
the surplus of certain farm products
at the end of the crop year at a
guaranteed minimum price was sug-
gester today to the Senate agricul-
tural committee by w. c. Lyon, a
member of the South Dakota legis-
lature. He would fix a minimum
price of $2.25 bushel for wheat. ST
bushel for corn, Is cents a bushel
for oats and $3 bushel for fax.
A bill authorizing the United
State Grain corporation to borrow
S250,000000 from federal reserve
banks to carry out this plan has
been introduced in the house by
Representative Christopherson, re-
publican, of South Dakota.