Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-06-14
IMMEDIATE RELIEF.

News from the east indicates a slight easing
of the tension in the money market there There
Is always a distance Of several months in point
of time between New York and Albuquerque, in
financial conditions The east was in more or less
distress for many weeks before the condition was
seriously felt in the mountain region. 1t logically
will be some time before can feel very greatly
any lessening of the tension realized in New York
Besides we have conditions here which must
rectify themselves before can hope for anything
approaching normal financial situation. OF these
the most important is the reesablishment OF n
market in the livestock industry. This observation
also applies to some other markets, notably
copper For most farm products there is some
kind Of a market although unsatisfactory. Copper
must wait, it would SEEM for some system OF
foreign credits to afford it adequate outlet
for the product This condition peculiarly affects
the southwest corner of the state.
However, the livestock situation affects every
one in the state. Inability to export is not mate
rial factor in this industry If could curtail
importations of New Zealand sheep and Argentine
cattle it would help materially, but even that
is not our greatest salvation.
New Mexico is breeding state--not feed
ing country. New Mexico-bred calves and young
stuff are not ready for the butcher market The
immediate packing house price for fat animals is
much less important to than that the farmers
of the Mississippi valley be able to buy from us
our young stock, into which they can put their
corn and hay in preparation for a market one or
two years from now.
Therefore credit arrangements that will give
these farmers two year loans pending the
finishing of their product. would help greatly.
1t would afford a market outlet and fix price.
Credit arrangements for livestock, pro-
viding long time loans, would prevent forcing the
sale of our young stuff when there is no willing
market.
These two things would stabilize our cattle and
sheep market and strengthen it. There would be
some comparatively certain price at which sale
could be made. This would give reinsurance to the
industry and to the banks,
What conditions brought to present pre-
dicament is not the immediate question. How to
get out of our dilemma must be settled now.
Then we can analyze eisurely what got us into
It and apply the permanent remedy.
To say that the packers or the manipula-
tors are at fault for the condition will avail moth
ing as an emergency means of saving the Indus
try. If a physician called to treat man with
delirum tremens he would hardly prescribe that
the way to save the patient is to attack the dis
tiller. With the patient relieved, attacking the
liquor traffic may save similar situations in the
future. But the emergency treatment for the in
dividual patient must be immediate and personal.
The livestock industry needs this immediate and
intimate relief The rehabilitation Of the War FL
nance board or a similar arrangement, seems
the only remedy. Every should boost for that
now. With the patient saved have time
to Chew the rag" until we get lint in Threats
over who and what brought about the present
condition