Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1921-01-12

| WASHINGTON, D. Con January
4 congress repassed the bill reyiving
the War Finance corporation over the
presidents veto
, A two-thirds vote was necessary t.
override the veto and the house vote
was ESQ to 66. The senate acted fav.
orably on the matter previous to the
action by the house: 49,
In message explaining his veto
President Wilson said he believed the
measure would exert no beneficial re-
suits, that it would raise false hopes
and interfere with the natural and
orderly processes of business and
finance"
Evidently the act as passed is so
framed as to limit the activity of the
re-created War Finance Corporation to
financing sales of agricultural products
abroad.
These exports, whether of cotton,
wheat or meats, would be handled by
the larger traders, and the act, there
fore, at most will affect the farmer
only in a possible slight stiffening of
prices.
AUTO TRUST PROBABLE
The disaster which has hit the au-
tomobile companies appears to be
more than is warranted by general
conditions. General Motors stock,
which sold at AZ last January, is now
selling for 1874. Maxwell Motors
stock, selling up to 81 in 1919, sold
last week for 2. Willys-O Overland,
which brought so in 1918 and 40 in
1919, is now worth 5h.
The other companies, with the ex-
ception of the Ford company, appear
to be in about the same condition.
The money trust is undoubtedly put
ting on the squeeze with the object
of driving out the small investors who
have so much in this industry, getting
their property at fraction of value,
and on the rebound of business making
big: money by eliminating competition
in motor vehicle building.
We wonder If small business finds
consolation these days in the fact that
it's property is being confscated by big
business.
THE CABLE ISSUE
The foreign relations committee, of
which Senators Lodge and. Knox are
members, has issued formal declara-
tione supporting the admiaistratfon.s
conduct of cable negotiations.
= 1t is question of whether British
traders should have the right to look
over the messages which our exporters
send and receive. And this, in turn,
Is chiefly question of whether Eng
land. should keep the German cables
seized during the var. French and
Italian diplomats have lined up on the
British side Of the matter.
To free herself from trade spying
Germany built her own cables across
the Atlantic and Pacific nearly a gen.
Grafton ago. American foreign trade
is still in the position German trade
was in before these cables were built
Even if the British interests can not
decipher the code of the message they
know who is sending and who receiv.
ing the message.
This American desire "for a place
In the sum-" as the Germans used to
put the matter, may prove to have
as much dynamite in it as the German
ambition.
When the foreign relations commit.
tee made it's announcement the diplo.
mats asked for recess to get further
instructions from home.
JOKER IN COOP. BILL
If you have heard that the senate
has passed the Capper-Volstead bill
to legalize and protect farmer coop.
Grafton, don't jump to the conclusion
that after all the politicians may intend
to look after the farmer little bit.
The good reason for not making this
jump yet is that little Amendment
was slipped in by some friends OF
the farmer" which kills the intent OF
the legislation. This amendment, in
consideration OF which the senators al
lowed the bill to pass, puts the whole
cooperation movement under the Sher
man anti-tr ( act, whereas the chief
purpose. OF t. \ Capper-Volstead bill
was to free cooperation from the
charge Of combination.
If the American Farm Bureau fed
Grafton has as much influence with the
politicians as is claimed in many quar-