The Miller press. [volume] (Miller, S.D.) 190?-current, 1920-12-23
BANKERS-FARMERS
LARGELY ATTENDED
Pass Resolution To Improve Present
Marketing Conditions

Aberdeen. s. Oak, Dec. 22.-The five
hundred farmers and bankers in con
terence at Aberdeen yesterday passed
resolutions calling for a protective
tariff on the importation of %agricultur-
al products and thereby preserving
the market for American farmers.
Tic resolution follows:
Whereas, the only apparent relief
from the present financial difficulties
is n marked Improvement in the prices
OF farm products which will cause far
ners voluntarily to market their pro-
ducts and thereby reduce their indebt-
tdness, and
Whereas, it is apparent that an i'm
provement in the demand for products
from foreign countries will materially
improve the market prices for our
farm products,
be 1t Therefore Resolved, that we
recommend to congress the immediate
( nactment of such measures as will
aiord protection for our home market
and also provide an outlet for our
farm products.
We specifically recommend the en-
a.tment of a sufficient protective tar
iC on the importation of competitive
farm products from other countries
during this initial period of recon
ST. uctiOn.
The idea was presented that the
present financial stringency may be
alleviated if farmers market their
crops in small amounts each month,
especially if the market is open so
that they may realize near their value.
1t was shown that European buyers
want American farm products and
that the 500, 900 900 Export Finance
Corporation, being organized, will en-
able these buyers to purchase. The
immediate need will be supplied by
such a measure supported by a tariff.
IT was shown by Henry T. Belk, pres
iicnt of the South Dakota Farmer
Grain Dealers association, M. ]. Elan
agan, president Of the South Dakota
Federation of Purebred Livestock
81 eeders, H. G. Cobb. president of the
South Dakota Farm Bureau federation
a2d j. G. Rogers, president of the
Cna.h naEnta Wool Grnuunrc accnoia-
tin that farmers need long time Gre
dit. Curtis l.. Mosher, Assistant Fed
eral Reserve Agent, showed that the
Federal Reserve Bank is not a Iony
term bank, but that it was created to
handle snort time paper only. 1t was
created to handle emergency paper for
current farm operation. 1t can make
nc lean for capital purpose or infest-
ments, demand notes, speculation nor
renewal notes. AS the name implies
it is a reserve bank for member banks.
Don Livingsen. South Dakota men,
her of the Committee of L." gave an
interesting outline of the proposed
800, 600 900 Export Finance Corpora
ton and how IL would open foreign
market for farm products. He showed
that farmers should organize their sell
ing machinery to function with this
corporation which they expect to be
,eadf to operate in January.
The chairman of the meeting was
. Ohm Walden, president of the South
Dakota Bankers association. Other
speakers were NJ. p. Beebee. member
of TIE Guarantee Fund Commission OF
the State Banking Department; A. l..
Freelove, chairman of the agricultural
committee of the South Dakota Bank
Ell association; Mr.. Henry, Rural Gre
dit Commissioner Of Pierre, and H.. F.
Patterson, a farmer of Aberdeen. Mr..
Freelove conducted a question box fol-
lowing a discussion of the subject
Financing the Livestock Industry"