The daily star-mirror. (Moscow, Idaho) 1911-1939, 1921-10-17
BRIGHT FUTURE FOR
LIVESTOCK INDUSTRY
WAR FINANCE HEAD SAYS WEST
SHOULD BUY FEEDERS AND
FATTEN THEM.

Eugene Meyer, jr., head of the war
finance corporation, declares in. a
statement issued after his visit to the
west, during, which he visited both
north and south Idaho, that the de-
preston in the livestock industry can
be stopped. The way to stop it, he
asserts, is to feed livestock and buy
feeders quickly. His statement, por-
iOns of which were published by the
Breeders Gazette of Chicago, sounds
note of encouragement.
"The livestock situation is the big
one, as far as credit is concerned"
said Mr.. Meyer. Adequate financing
of the stockman involves not only the
livestock industry, but also the mar
ket for grain, particularly corn and
forage. 1 found the west full of feed.
The best way to market it is through
livestock. l found bankers discour-
aged and growers discouraged, but I
met them, analyzed their problems,
and believe that left them confident
that we have found the way out. Far
mers and bankers have been worry
ing over real troubles, but I told
them that we had ample funds to save
the situation. 1t is now time to look
forward rather than backward; things
are getting better.
Search Out Good Loans
"I have tried to sound the follow
ing keynote under which all commit
tees have been instructed to work:
Do not worry over the exceptional
and difficult cases, but go out and
look for the places in which to put
our funds. Put in a million here and
a million there. That will relieve the
situation; that will prevent young
stock from going to market prema-
turely and breeding stock from being
sold so as to endanger future sup
plies.
everywhere in the west I found
abundant supplies of feed. In the
range country our loan committees
are actively at work. We shall lend
through livestock loan companies, |
and through country banks. We are
empowered by law to relieve the stu
alton considerably We lend money
through the country bank, and the
banker knows that it does not have
to be repaid in 80 days, or six months
or even year.
Loans Run Three Years
Loans from the war finance cor
poratiOn may be rediscounted for one |
year again for another year, and
again for the third year. This will
permit the producer to move his stuff
to market in an orderly fashion. This
rediscounting will bring about more
comfortable situation in the country
bank, and will restore confidence all
along the line.
"The depression in the livestock
industry can be stopped. | have
taken occasion to point out to the.
various communities that where they
permitted livestock to be forced out
(if bankers, and our committees do
not. protect the farmers and their in
dustries) neighboring states would
get this stock and profit by feeding
it.
sThe war finance corporations bill
lion dollars will be used extensively
and promptly There is a change in
sight in the whole situation, insofar
as adequate financing is responsible
for the depression. l am confident
that we can reach big situation in
a big way.
Buy Feeders Quickly
81 believe that the only thing to do
now is to feed livestock, and to buy
feeders quickly. But our agricultural
financing business will amount to 95 ]
per cent of the total. We discount
the farmers paper through the bank. I
The actual paper comes to us, the {
paper on which the banker lends the {
money. 1t is the war finance corpor-
atoms dollar which goes into the ag- |
ricultural loan"