The Washington herald., 1921-04-13
FARM DELEGATES
FAVOR CHANCEN
LAND BANK ACT
Mote Credits for Farmer
Also Sought by Pres
- ent Session.

The American Farm Bureau Fed-
erstfon executive committee con-
vened in second session yesterday,
calling before 1t government ex-
perts on finance, taxation. transpor-
tation and tariff. at the Harrington
Hotel The Federal organization Is
in practical agreement that the
Federal land bank act should be
supplemented as advocated by A. +.
Lever. author of the Lever bill.
Lever advocates a system known
as the commodity bank system by
which nonperishable agricultural
products are to be stored in ware
houses and graded and receipts is
sued The basis of the plan is the
pooIink Of the receipts and the is
suing OF debentures for sale on the
money markets of the country. The
plan was unanimously favored.
Favor More Credits
In ali probability the Federal or
Eanization will favor the extension
of the powers Of the Federal Re-
serve Board in order that the in
dividual farmer may have the bene-
ht Of additional shert time credits.
Representatives from twenty-five
States attended. Each discussed
the economic conditions and the
general needs Of the farmer in their
respective districts.
Howard Leonard, president of the
Illinois Agriculture Association.
representing more than 100000
farmers in that section. claimed
that the agriculturist in all parts
Of the country was in dire straits.
Tn one county alone in Illinois
thirty-siX farmers were recently
sold out under the hammer on ac-
count Of being unable to sell their
products at price which would
enable them to meet their obliga
tions. Corn in that district. which
cost the farmer 95 cents a bushel
to raise, is being sold at little more
than half that price. There is alb
solutely no sale on wool" stated
Leonard.
West Also Hit.
President ]. r. Howard, of the
National Federation. said that in
certs in districts in the West. where
farming is the chief industry, the
pueiic schools were forced to close.
owing to the farmers inability to
pscy the school tax, Kentucky to-
baeco raising is practically doomed
unless drastic steps are taken at
an early moment to rectify the Sc
we're crisis" he said. The raisers
have received barely anything for
their product over the cost of pro-
ducing. In many instances they
are. unable to pay the interest on
the money borrowed by them for
the raising Of this years crop.
Southern cotton raisers are in no
better straits. The sale Of their
product Is practically cut of owing
to the European condition"
IN I. s. Adams, OF Yale Univer-
sitS~spoke on taxation He adyo-
catsd~a per cent corporation in
come tax for the country. which
would replace the excess profits
tax, The Federal organization went
on record as favoring the budget
system Of appropriating money by
the government.
:. To Espouse Farmer.
A Committee was appointed to
meet the Federal Reserve Board
this morning to present the farmers
viewpoint on credits and credit con-
ditfons. The committee comprise.
W. H. walker. California: r. NJ.
Mansfield. Oregon, and o. E Brad
flute Ohio.
Another committee, which will be
appointed at today's session. will
meet President Harding with the
purpose OF urging the President to
appoint farm-minded men as mem
bers Of the Interstate Commerce
Commission. 1t is the, opinion of
members Of the organization that
the, appointment of such men on
this Legislative body will be the
prime factor in reducing the price
Of farm products to the consumer.
Friday evening the members OF
the Federal organization will meet
Senators and Representatives at the
Capitol for the purpose of infor-
mally discussing conditions. The
meeting will be Of a social nature