The Bottineau courant. (Bottineau, Bottineau County, N.D.) 1895-1929, 1920-09-02
FARMERS ARE
TW|XT Devil
AND DEEP SEA
(From h Cooperators' Herald. By
Mac FOrrest.)

At last the money kings and the
grain gamblers Of this country have
shown their hands. Their close Assoc
citation Is u matter of cOmmOn 'knowl-
edge, but probably for the first time
the bankers have admitted it through
the press.
Early in August new dispatches
from Minneapolis and st. Paul carried
information from the Ninth Federal
Reserve district governor that is Of
vital Importance to every farmer, as
we'll as every consumer, in the entire
northwest.
August 4, the Grand Forks Amerl-
can carried a despatch from st. Paul,
which said that the farmers in the
Ninth Federal Reserve district this
year will be called upon to meet their
obligations immediately after the
grain is harvested instead Of waiting
until fall as has been the custom.
This ruling was made on that day
by George A. Young, Ninth Federal
Reserve bank, Minneapolis, MINI.
The reason given for the requesting
Of the farmers for early payment of
their obligations is the strained credit
situation which is general. Federal
Reserve officials believe early pay
ments of the loans will cause little in
convenience for the farmers and at
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able for othc.' u,cs at a time much in
advance Of that which has been GUS
tOnlary.
The loans include those made by
member banks.
In IA letter sent to all member banks
of the Ninth Federal Reserve district,
parts Of which were published in the
Duluth Herald Of August 6, it is stat
ed that only under unusual circum-
stances will member banks he war
ranted in making applications for re-
discount during the period between
crop movement and spring planting.
This can only he interpreted as a
most drastic demand for credit reduc-
ton and guarded financing that has
been issued since the northwest con-
ditiOns indicated a good crop yield.
The period of restriction Indicated Is
from October to April.
Only recently at q conference in
Fargo, N. D., on the box car shortage
and the movement Of grain this fall,
Mr.. Mosher. Il representative of the
Ninth Federal Reserve bank, also in.
timated in yelled language that there
would be a demand for the payment of
all loans Immediately after harvest.
His statement was in turn confirmed
by the n issued by George A. Young,
governor Of the Ninth Federal Reserve
district, quoted above.
1t takes no shrewd mind to see what
this means to the farmers Of the north
west. 1t means low wheat prices this
fall-at least lower than the demand
should warrant.
The interests who control the bank
ing system for years have exploited
the grain growers and producers of
the northwest this same way. Their
method is simple. They have forced
the farmers to dispose of their crops
in order to meet their debts. That
means, and always has meant, that the
farmers must take the prices offered
for their grain at il time when prices
are naturally lowest, in order that
they may meet their obligations, which
the bankers insist must be taken care
Of Immediately after harvest.
The interests that own and control
the banking system Of the country
control Tin fact own) the grain com
bines, so skillfully manipulated by the
grain gamblers Of Minneapolis, Duluth
and Chicago.
These combines set the price or
grain, and whether the farmers fike 1t
or not, they are forced to sell because
Of the pressure brought to bear by the
banking interests. So the farmers get
it in the neck whichever way they may
turn.
4 dIlucIb VI Tic IOIllWCSL are SOluS
to be forced to sell their wheat and
other grains Immediately after harvest
in order to meet the demands Of the
banking barons. Because of these de-
mands they will be forced to sell their
products at a low figure. Do you sup
pose for any minute that the grain
gamblers are not going to take advan-
tage Of this situation and offer low
prices, knowing that the farmers must
sell to meet their obligations.
Always the farmer is the goat.
From time immemorial he has been
shorn. And the money grabbers and
the grain gamblers are but two Of the
many shearers.
Surely there must be some solution
to this situation which Is constantly
growing worse every year. We may
differ in our methods Of solving this
problem, but the main thing before us
today is to eliminate the graft and do
it before 1t has gone too far.
The farmers must develop their CO.
operative marketing facilities to ever
greater capacity 50 that they may be
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