The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1920-10-13
Cotton and Wheat Growers
Claim They Face Bankruptcy.
Make Direct Appeal for Aid to
President and Cabinet.
NIGHT RIDERS ARE DISAVOWED
Wheat Now Selling 63 Cents Be-
low Production Cost.
Cotton at 21 Cents Means Loss
of $50 Per Bale.

| Washington, Oct. 13.-Farmers in
session here today adopted a report
demanding government assistance to
stave off general inevitable bank
ruptcy" threatened by falling prices.
! The farmers are to lay their de-
mands before Governor Harding of
/ the federal reserve board and Secre-
| tary of the Treasury Houston at a con-
| ference at p. m. today.
That bill will be introduced in the
next congress to prohibit trading In
grain futures was the assertion of sew
eral delegates attending the confer
ence.
| Lower Discount Rates.
| The demands call for lowering Of
the rediscount rate of the federal re-
serve banks and expansion of credits
! The report was prepared by a COM
mittee representing farmers from
many states both in the wheat and
cotton belts in convention here at call
of the national board OF farm organ
| izatious.
The report scores Secretary Hous-
ton and other government officials for
announcing a price decline is in prog
ress. which. the report said. caused
banks of the country to restrict loans
vitaiIy needed by farmers
! Current market prices for farm
!
duction." the report read, "and unless
some immediate remedy be found to
! relieve the situation, general bank
ruptcy and ruin are inevitable. The
condition now facing the agricultural
interests of America is not confined to
| any one section or any one product.
Kansan Among Signcrs.
-'In our judgment it is wrong as a
matter of policy artificially to press
down prices. and it is particularly
wrong to begin with the raw commodi-
ties
1.-THE condition of agriculture is now
desperate. The condition of mind of
the farmer population is ominous.
Producers of all crops have come to
feel that the hand of the government
is against them.
'Tt is no concern of the federal re-
serve system or of the treasury de-
partment what the producers of the
country may determine is fair
price"
Among signers of the report are
John Tromble of Kansas, and j. s.
Wanamaker South Carolina.
Great Loss In Prospect.
The south faces loss of more thar
cording to J. ]. Brown, agricultural
commissioner Of Georgia. Brown is
attending general conference OF
farmers from all parts of the country
| under the auSpicieS of the nationa
board of farm organizations.
Wheat growers of the west and cen.
trail west are face to face with sim.
liar probable loss due to the fall in the
price of wheat, according to Johr
Tromble of Beloit, Kan, another dele
gate to the conference.
Cotton Loss Eighteen Cents.
Wheat sold at an average price O.
, $2.14 per bushel October /, according
deaTlo ~ c
: Cotton is now selling at 21 cents 6
pound.
1T costs 3S.1 cents per pound t.
! produce this years cotton" said Com
lose $50 on every bale we sell at 2.
} cents. The new crop this year will
r run more than IL, 100000 bales. Yer,
; little Of it is sold.
! IF southern planters must sell thei
: cotton at Fl cents there will be man!
bankrupts in the south. The action o
night riders who threaten to burr
gins and crops of farmers who sell 70
Fl cents does not represent the tru
sentiment of the south. Planters ar
1 law abiding citizens. They'll do tn
best they can under the circumstances
But We hope the circumstances viii
= soon be more favorable
Loss on Wheat IS Cents.
TO produce wheat costs SAT-
g bushel." said Tromble. "a price o
| via therefore represents a loss of s
: cents per bushel.
n This is not in accordance with tn
: law of supply and demand. There j
g a world wheat shortage. England
going to need to import 45O,0OO,0O
a bushels. Most of it must come fror
n the United States and Canada. Blu
these two countries together will hav
# only $40, 100000 bushels for expor
s There is no justification for fallin
wheat prices"