The Washington herald., 1921-07-12
BANKRUPTCY AND
RUIN THREATENS
FARMING, ECLAIM
Witnesses So Declare at
Congressional Commit
tee Hearing.
PETITION is MADE
Farmers Organization Re-
quests that Representatives
OF Big Business Be Called.

Agriculture is facing bankruptcy
and run. witnesses representing
farm organizations yesterday told
the joint Congressional Commission
recently appointed to investigate
the condition of farmers.
At the opening Of the hearings
yesterday a demand was made by
te representatives of the farmers
organizations that the commission
call before 1t representatives 3t
big business, including the leading
bankers.
1T will be necessary for you 10
examine the Federal Reserve Board
and other agencies and bureaus Of
the government G. S. Barrett.
chairman of the National Board of
Farm Organizations and presidenI
OF the National Farmers Union.
told the committee
Make Big Business Yield
IF Sou would arrive at the
whole truth. you must make big
business yield what 1t knows. The
Chamber of Commerce of the United
States. the great trusts such as the
steel trust, the coal trust, the credit
trusts and the money trusts should
be compelled to give you the facts
concerning their operations. Unless
this is done IL will be impossible for
you to find out what is wrong with
agriculture to-day.
"All these great aggregations of
capital are engaged IN some way in
operations which affect agricultural
interests. Let these men and their
systems lay their cards on the ia
BILE. II they do this it will be en-
tirely possible for you to reach the
truth and propose constructive rem
edies-
Agriculture as been forced to
yield a very large percentage Of lis
legitimate earnings to interests
vhic toll not neither do they spin.
In penalizing agriculture men and
systems have handed additional bur
dens down to the consumers. The
results have been unhappy in the
extreme. Excessive prices to the
consumer for agricultural products
and ruinous returns to agriculture
for its services to society have been
the rule for years past.
Real Cause. There.
IF you will find the causes fo-
the present condition of agriculture
Il will te necessary for you to ex-
plore finance, transportation. dis
tribution, foreign markets and for
eign credits. foreign shipping and
all fields through which or by whose
agency farm products reach the
consumer"
Agriculture is today facing
bankruptcy and ruin" said Charles
A. Lyman. secretary of the National
Board of Farm Organizations.
To-day the farmer Is receivin 3
pre-war prices for farm commodi-
ties, or less than pre-war prices.
and with the difference from the
conditions he was in before the
war that now his ability to sell, to
find suitable markets, TO secure
credit. to borrow at reasonable
rates of interest, to buy his farm
requirements at fairly reasonable
prices and to pay his taxes, is most
seriously impaired
'On top of this is the fact that
suddenly and without warning a
policy of defation of the currency,
a restriction of credit, was institut-
ed by agencies created by the gov
ernment. This policy drastically
carried out has resulted in a loss
10 farmers during the past year of
$1,000, zoo. 900"
Mr.. Lyman also demanded that
the commission investigate the
financial institutions and the rail-
roads.