American Falls press. [volume] (American Falls, Idaho) 1907-1937, 1921-08-12
BURDICK DISPLAYS NECESSITY
FOR COOPERATION ON FARMS
Continued from page u

continued from page ~ |
in the contract, that you could sell IL
you want to, or pool IL you want TO,
is because the eastern states were
afraid they could not go before their
farmers at the very beginning and get
them to sign a 100 per cent pool. They
made a mistake down there; they call
ed IL a compulsory pool. That word
never should have been used, for there
is nothing compulsory about IL. You
don't have TO sign il IL you don't want
to. They we're afraid those farmers
would not turn over all their grain
for the five or six year period to the
organization to handle that grain; and
they were the very fellows who had
the money, the eastern states. We
knew we could not get very much
money from North Dakota, Montana,
and some other sections, but the one
state of Illinois has agreed to under
write twelve million TO finance this
corporation.
Legislation Aids.
Maybe the weak part OF this contract
of sales will become the strongest part
of II, and II cannot injure you, for the
reason that In the states OF Montana,
Idaho, Washington, and Oregon, you
have the cooperative marketing bills
passed through the state legislatures,
as in N. d., so there are five stateS
right in a block that have put them
selves on record for cooperative mar
keting on the pooling plan or any
other plan.
We are ready to say to you that the
majority of the heaviest grain grow
ing states. Oklahoma, Kansas, North
VN.I.as. - Ill Al. Meet aaI UWfnaf
pally poolers. There are 450, 900 900
bushels of wheat that will come in
under a pool when Il comes in. When
we start at IT., you know what will
happen. II you viii watch these fig
ures here, you Will know what will
happen. You remember our annual
production is 800, 000, 900 bu., and we
ourselves consume $50, 000, 900 blu.
Sold Output 81 Times.
Chicago this year received 100000
900 Blu. actual wheat at ner terhllhals'
vet M the same time she sold eighteen
billion bushels on her markets. she
sold the worlds output of wheat three
times in the first ten months of 1920.
In. other words. they sold every buhhel
of wheat that came into their door Oh
times. This Ia not n Wild statement
from somebody from Md and woody
North Dakota. / am giving you n state
ment of facts. Maybe they sold every
bushel a hundred times-I do MOI
know-but l do know they sold II
SOS times, because that can be counted
nv the cancelled revenue stamps pu'
on those sales. You can puL this dow
ne absolutely certain and beyond
reasonable doubt. We have evidence
that they sold Il about 81 times. Yol
can flgur something of what tina
means yourselves, putting this whea
through 81 tlmes-selllng stuff tina
never ex%lsted-that they never eX
pected to have. They maize off Una
transaction $50. 000, 900; the profits I
the pit OF Chicago for 1920 amountc
TO 500, 000. 900,
Now then, when men buy options
they advance a margin, tbs yea
on sales OF wheat that did not exls
they had TO put up money, What the
paid In Chicago on fictitious sale
brought into the banks of Chicag
$4,000 900.
gust as soon as we put our STAN
of dlsapproval on gambling in when
what happens2 Who are the men VII
are going ~ try to stop IL? III tines
banks see $3.50, O00. 900 slipping W
from tutilt AhNN hlN boihb w w ,"
exactly as II said In industry
ape published in Washington, /
O.:
The Menace.
Just think OF III They say 1900
900 farmers are behind a plan TO ma
ket their own produce. This IL a mel
ace and must be stopped"
Don't you think for u minute tn
they Will not try TO stop II, and don
YOU think for n minute but what evel
interest that now receives some incr
ment from an institution of that XII
is not going to take steps to try
stop Il,
For the first time IN the history
America, farmers were getting a IA
rate OF interest, No sooner had "
men and the farmers OF n. ID. begun
receive money at u fair rate of intere
ahan certain interests In this count
say that IL that was TO continue tn
were going To get out of business
and YOU know what has been happo
Ing. / speak Of this to show YOU VIII
will happen again and again just
soon as farmers try so run their hu
lness for the interests of the farmo
In America.
They organized the American tiol
mortgage 20, MANY WHO hau W.
loaning money for years, banks n
trust companies, took stock In this /
stitutlon They We're organized. a.
they took action against the FEEDER
Loan Bank In n federal ~iniunctt
proceeding. and tied up the whole NJ
chinery OF the Federal Loan Bank {
over a year In the courts OF this cou
try. 1t was just settled about
weeks ago, when the Supreme Coz
OF the U. s. handed down a major.
decision that the Federal Loan Ba
was constitutional. Now we Will
ahead and make some moro loans.
Source OF Attacks.
We viii perhaps never be attack
ON that score again, but we Will be
aacked when we attempt to han,
STANDARDIZATION of the sherman
dustries Law-here Is a n
farmers trying 10 fix prices and h'