Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1921-07-07

ing legislation closely that they will be passed
this session. One bill provides $5O,0OO,OOo
working capital in the treasury department,
which the federal farm loan board may draw
against pending the sale of large block OF
bonds. The claim was made that 1t was i'm
practicable to keep federal farm loan bonds
on the market continuously and that larger
issue should be sold promptly.
Another bill would enable the federal farm
land banks and the joint stock land banks to
pay IL per cent instead of per cent on
their bonds, which are now tax exempt. Even
with this exemption feature these bonds have
sold rather slowly because of the high rate
of interest paid by foreign governments and
by our own industrial concerns.
The farm bureau with other organizations
was successful in convincing the senate COM
mittee on banking and currency that two bills
introduced by Senator Reed Smoot, OF Utah.
which would have killed the federal farm
loan system including the joint stock land
banks, should not be reported out Of the COM
mittee
An Export Corporation.
The farmers are also following very closely
bill introduced by Senator George w. Nor
ris, of Nebraska, which would provide for
500, 100000 for a government corporation
which would export agricultural products.
The proponents of this bill had to meet the
argument that this is class legislation. One
of their replies is that whatever helps agr1-
culture will hasten the return OF prosperity to
the country. When corn on the farm in Iowa
is worth only 20 cents per bushel and sells
at the station for 33 cents, but brings 50
cents in New York city, there is someone be-
sides the farmer interested in the industry
of agriculture, they say.
Two bills have been introduced to assist
in financing agriculture and livestock produc-
ton. One is the Sterling bill which would
make available $1O0,OOO,OOO during the next
three years to be loaned by the federal farm
loan banks. These bills, however will stand
little show of passing if the banking interests
carry through the program which they an
nounced some time ago of lending $50,000,000
to livestock producers in the west.
bill which has been the center of attrac-
ton for some time is the Tincher bill pro-
hibting the short selling Of grain. 1t has
passed the House and will be reported from
the Senate committee in the future. All
of the farm organizations have recommen
it before the committee, and it also has the
approval of the secretary of agriculture. It is
being bitterly fought by grain dealers
For several sessions in Congress the farm
ers have been very much interested in pass
ing a bill which would make it necessary for
manufacturers Of woolens to mark their
products so that the consumers would know
the percentage of virgin wool which they
carried
It is claimed by the American Farm Bu-
reau federation that tWo-thirds of the worlds
wooens are manufactured Of shoddy, for
only enough virgin wool is consumed annual
ly to produce one-third of the output. 1t
does not object to the use of shoddy, but it
claims that the consumer should be given
the benefit of knowing what he is buying.
The federation also wishes to unmask the
alias "all wool" "All WOOL of course may
be, and generally is, shoddy. The bill the
farmers are backing is the French truth-in
fabric bill. Hearings on this bill have been
suspended temporarily by the House COM
mittee on agriculture.
Legislation on cold storage is again on the
docket. Bills have been introduced by Rep
resentatives Haugen and Hutchinson and by
Senator Frelinghuysen. The farmers are in
terested in this legislation and in testi'ying
before the committee agriculture the
statement was made that the federation
wishes the bill framed that permission will
be given to store foodstuffs temporarily and
in transit without requiring it to be stamped
"cold storage" 1t would also like to see
Other bills before Congress in which the
farmers are particularly interested the
Capper-Volstead cooperative marketing BILL
and bill which would increase the amount
of individual loans made by the federal
farm land banks from $4,000 to $4,000.