The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1920-12-18
CONGRESS IS
CONTINUED from Page One)


dustry in Europe which completes
with American goods, and the resump-
ton of shipping which had been in
terrupted during the war and which
now brings goods from Austria and
Argentina into the market in competi-
ton with American goods. The secre-
tary of treasury took the position that
these are the causes of the decline of
prices and nothing that the treasury
can do will overcome these causes.
Farmers Disappointed.
The farmers suffered bitter disap-
pointment in this refusal of the
treasury, and undoubtedly a certain
number of votes received by the Re-
publicans in the recent election were
the result Of dissatisfaction of the
Democratic congress.
For the reasons just outlined, the
farmers transferred their plea from
the treasury to congress.
Congress as an elect body was
much more sympathetic, in both, the
House and the Senate bills were
formally introduced, looking in one
way or another to getting treasury
relief for farmers, who must either
sell their goods at present prices or
find credit with which to hold them.
Thereupon the issue that formerly had
arisen between the farmers and the
treasury now arose between congress
and the treasury.
Treasury Firm.
In this issue any one who has OBJ
served events is inclined to sympa-
thise with the treasury, regardless OF
whether or not the treasury is right.
Governor Harding and officers of the
r. nff ok
every side of the argument in an eff
fort to make strong plea to members
OF congress who have given the i'm
preston of a mere clamoring for
something which they believe will
help them with their constituents. The
officers of the government on the
other hand give the impression of
standing squarely on principle. 1t is
possible that within the near future,
however, some way will be found to
give some degree of help to the
farmers.
The farmer. of course, is at this
moment in an embarrassing position.
He has the crop on his hands. This
crop was raised on the basis Of con-
| ditions at the time the crop was plent-
! ed, with wages, fertilizer, seed, and
! implements at the prices at which they
were last spring. But when it comes
to selling the crop, the farmer must
part with it on the basis Of present
prices. This involves a real loss.
Nevertheless, the farmer should try to
! balance this episode against the time,
! four or five years ago, when condl
lions were exactly reversed. Then
he did his planting and cultivatine
on the basis of low prices and was
! able to sell his crop on the basis o!
high prices. The most serious part OF
| the farmers distress arises not in his
crops, but in his mortgages.
Farmers in Bad Plight
During the past four years prices
upon lands advanced from 200 to SOC
per cent. After making special pay
ment farmers often give mortgage
for as much as 500 to 5000 an acre
The farmer who was carrying mort
gage at the rate of 5000 an acre must
in order to pay the interest raise {
value of $12 on each acre before he
has anything for himself
/ Under present conditions. which are
likely to continue, it is difficult anc
even impossible for the farmer to DR.
this indeed once he has allowed him
self to get into this position it is diff
ficult for him to avoid foreclosure
there in this situation all the elements
to recreate such situation as brough
Bryan to the front 25 years ago.