Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1920-10-28
CUNNINGHAM DOES
/ NOT BLAME BANKS
SECRETARY OF FARM Fedora
TIoNs BITTER TOWARDS
sPEcULAToRs.
ADMITS BANKS HAVE
NOT FUNDS TO LOAN
Cunningham Says all Tenant Farm
ers in Iowa Will Be Ruined by
Present Drop in Prices of Stock
and Grains-LandN Spectators Al
so Facing Heavy Losses.

Special to Times Republican.
Des Moines, Oct. 2S.-The pub
lished statement of e. II. Cunning
ham. secretary of the Iowa Farm
Bureau. Federation, advising Iowa
farm members to withhold their
grain from market at the present
prices and to spend only for necessi-
ties is causing widespread interest,
particularly as it comes at q time
when the southwest wheat growers
are taking action to keep their wheat
out Of the market until better prices
return. In the opinion Of Secretary
Cunningham the farmers are not
'averse to accepting their fair share
Of the loss that must come to get
business back to normal, but they
feel they should receive at least 81.
per bushel for corn and 60 cents for
oats.
I'VE are certain that the banks of
Iowa do not have the funds to
finance all of our farmers to re ex-
tent Of enabling them to hold taeir
grain" declared Secretary ...l,ng
ham. Eve believe. however they
will do everything human, POSSIBLE
to assist the farmer cLs-4nler. We
ask every landlord to extend the time
of his rental payment in order to
enable the tenant to hold his crops.
We ask every land owner to with
hold his crop and urge everyone to
refrain from purchasing anything but
the absolute necessities.
Accuses Packers.
There is no need Of any class or
clique endeavoring to force financial
ruin on the procedure of the neces-
stiles of life simply because the un-
settled conditions Of life give them
the opportunity.
Smashing the hog market during
the past week has occupied the at
tention OF the manipulators 4
little over a week ago the press car
ried q statement purporting to come
from one of the big packers that the
hog market had to come down In
proportion to the price of corn. II
this packer has been correctly
quoted, and the break in the hog
market would indicate that he had.
it would further indicate that the
price manipulation is wholly within
the handse OF the gamblers and that
they have decided that the farmers
corn. oats and live stock rlust Ie.
main at the resent day ruinous
prices. ~fV 8..sr
Every one knows that the farmer
is not getting near the cost of pro-
duction for his products. The effect of
a heavy break in prices will spell
financial ruin to the tenant farmers
OF Iowa, and with practically one
half of our farmers tenants it re-
quires no great amount of foresight
to forecase the serious results thai
must follow.
Land Spectators Fit.
Along with the tenant Ermers we
have another class Of farmers who
are being clacsed as farm owners
who are in far worse financial straits
than the actual renter. In this latter
class are the new land owners who
have accumulated enou "a money thru
one source or another to make a
small initial payment, have asa lned
heavy obligations, to be met by
future payments and have moth. lg
but returns from the land, TO rely
upon to make these paymentA They
are really in more severe financial
straits than the man who, being
renter, at most can lose nothing
more than his years work and his
percentage chattels such as horses,
cattle and farm equipment.
Another class are the SPECTATORS
who have purchased on the smallesr
possible initial payment and who
hope to unload at profit but now
lind themselves without a buyer as
the stringency in the money market
has put q stop to land transactions.
We are n3t much concerned in this
class as they took gamblers chance
and will probably survive even il
they lose on this venture
The next class is the independent
land owner who being free from debt
has no cause to worry and is TIL.
most indifferent element in the situa.
tion."
~7y