The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1921-09-08
PLANS CREDIT FIRMS
Securities Commission Holds Farmers
Finance Corporation Not True
s-@- Cooperative Organization.
Plans Being Made to Establish a Co.
operative Farm Credit Corpora
ton Under Existing Laws.


ton Under Existing Laws.
st. Paul, Sept. 2.-Farm bureau
declarations including several hundred
farmers in the principal grain pro-
ducing states of the middle west are
taking steps toward launching Coop
erative finance corporations and CO.
operative grain marketing corpora
tons along state lines, as the best
means of advancing the American
Farm Bureau federation's national
marketing program, according to C. E.
Gunnels, treasurer of the national
federation, who has been touring Min
nesota.
"The national grain marketing plan
worked out by the committee of seven
teen after eight months Of investiga-
ton is absolutely sound and practical
BILE, in the opinion Of the American
Farm Bureau federation" Mr.. Gun
nels said. "The farm bureaus of the
grain producing state are determined
that the farmer shall have his own
corporation through which he can put
his grain on the national and the
world markets in an orderly manner,
at the lowest possible expense. The
u. S. Grain Growers, Inc, established
as the first step toward putting into
operation the recommendations of the
committee Of seventeen, has been con-
fronted with tremendous obstacles.
The organization Of finance corpora
ton to provide credit for the market
ing of the farmers grain has faced
even graver obstacles. Few states
have passed legislation to put COOP
erative enterprises on an equal foot
ing with other business projects.
"Many state farm bureau fedora
tions are taking steps to form their
own farm credit corporations to pro-
vide better means Of financing the pro-
duction and marketing of farm prod
ucts. Several are seriously consider
ing the organization of the grain pro-
ducers of their states into co-opera-
tive associations, so that these state
organizations will be ready to fit into
the national marketing program of the
committee Of seventeen as soon as it
can be put into operation on national
scale.
1.-THE cooperative marketing enter
prise has been built from the bottom
up. First came the local cooperative
elevator, the local shipping association
of livestock raisers, the local Coop
erative creamery. Then came state
declarations of these local units, such
rs the Minnesota Farm Bureu fedora
ton has just launched for the market
ing of livestock and dairy products.
1.-THE farm bureaus of the grain pro-
ducing states take the unalterable posi-
ton that they have a grave obligation
to the farmers. They are determined
that the farmer shall not be asked to
invest his money nor contract his
grain in any project until the farm
bureau, the organization which
launched and financed the committee
of seventeen and is responsible for it's
plans, knows that those plans are be-
ing put into operation on sane, sound
business basis. 1t is better to go
slowly, and be absolutely right, than
to rush into any project blindly. The
farm bureau is the farmers business
representative. It's duty is to protect
his interests. When we go before the
farmers of Minnesota with grain
marketing plan, we intend to be sure
it is right, and has fair chance of
success"
There will be no attempt to organize
Minnesota farmers to market their
1921 crop under the plan of the COM
mittee of seventeen, Mr.. Gunncls said
Some grain will be moved through
existing organizations which coop
Grated in the formation of the U. S
Grain Growers, but farmers will not
be asked to contract their 1921 croI
to the national organization.