Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-06-11
AMPLE CREDITS
To LIVE STOCK
MEN NECESSARY
New Mexico Bankers and
CattIemen Unite in Petit
tioning Government for
Relief During Crisis.

Relief during CrlSlS.
Following the deliberations of
the New Mexico bankers and stock
growers with Judge w. f. Ramsey,
head of the eleventh district fed
eral reserve bank, located at Dallas,
and other members of the board, a
resolution was adopted asking
President Harding, congress and
tho federal reserve bank directors
for some sort of aid to carry the
stockgrowing industry over the
crises which now confronts it ana
which will result in ruin to the in
dustry unless aid is speedily given.
The resolution was presented at
the two conferences held during
the day and unanimously adopted.
Copies of it will be forwarded 10
President w. G.. Harding, members
of the cabinet, southwest delegates
in congress and the federal reserve
bank directors.
A concise outline of the present
cattle industry situation is given
i'm the resolution, which follows:
Resolution.
At a joint meeting at Albuquer-
que New Mexico, of the bankers
and livestock prodNcegsl of this
state, on the 10th day of June,
1921, the following resolution was
introduced and unanimously adopt
ed:
Resolved, whereas the livestock
business of this state is now in
the most depressed condition
known in it's history and which
condition has been brought about
by several causes, but largely be-
cause of the depressed financial
condition throughout the entire
country occasioned by the world
war and coupled with drought con-
ditiOns which have extended over
a large part of New Mexico, ana
which in part of said territory is
still continuing;
And, whereas, livestock produc-
ers. whether of cattle or sheep, are
unable to market their animals eX-
Crpt at Il price very much below
the cost of production, when in
fact any market at all is obtain
able:
And, where, in our opinion there
is no surplus of meat animals in
the United States, but in fact there
is q great shortage. and that it is
to the interest of the entire people
of the nation as well as to the live
stock producers to encourage fur
ther production, in order that the
demands of the people for this pro-
ductiOn arising in future years may
be met and supplied;
And, whereas, the northwest
grazing states, because of great
drought, which extended over same
during two years and until 1919 arc
without animals to consume their
now great abundance of grass and
other feeds, and are wholly unable
to restoCli said ranges because of
the fact that there is no agency
through which they may mako
financial arrangements for the pur"
chase of their seasonablo supply
of animals for the restocking Of
scid ranges;
And whereas, said northwest
states have heretofore bought their
animals in the southwest. including
the state of New Mexico. and have
been our very best customers in
taking the surplus animals pro-
duced from our breeding ranges
and developing same on their fat
tening ranges;
And whereas, the livestock buy
ers of said northwest states are
still anxious and willing to pur-
chase and develop our animals,
provided funds for said purpose
might be obtained;
And whereas. the whole livestock
situation is now in such a stag
mated condition as that unless i'm
mediate aid is procured from some
source, serious and lasting injury
will result thereto. to the end that
the nations meat supply will be
ieopardiZed and the producers
thereof greatly financially injured
and in many cases ruined;
Therefore, be it resolved by this
joint meeting of the bankers and
livestock producers 80 assembled at
Albuquerque as aforesaid, that we
appeal to our president and his
cabinet, at Washington, to the con-
gress of the United States. and to
the officials of our great federal
reserve system. to promptly come
TO the relief of the livestock pro-
ducers by providing ample funds
to be extended the said producers
through long time loans to the end
that the breeding herds may be
preserved to meet the future de-
mands of the people and that ami
mails suitable for the making of
beef may be moved on to market
channels and on to the northwest
grazing grounds giving relief both
to the producers and the developer
in said northwest territory, to the
end that the industry may be saved
and the banks be in part relieved
from the terrific burden which
they have been carrying, and all
the country thereby receiving an
urgently needed benefit and relief.
Be it further resolved that the
same condition set forth above as
surrounding the cattle producer,
affects and applies to the producer
of mutton and wool. and that the
latter is intended to be included