The Oakes times. [volume] (Oakes, N.D.) 1906-current, 1921-12-15
HELPS FARMER
HELP HIMSELF
Meyer Tells How War Finance Cor
poration Plan is Already
Showing Results
NEW ERA is NOW IN PROSPECT
Marketing of Products to BE Spread
Over Longer Period

.udi hetluS vi IIOuuCtS 10 De SpFedu
Over Longer Period
In normal times it has been the
practice of the farmer to sell his
products within short time after the
harvest He was then in position to
put the returns into meeting his finan-
cial obligations and buying his sup
plies and equipment for the next op-
GRAFTON. But when he has to carry
his output, or a large part of it. on
the farm or in the warehouse. as has
been the case this season, his capital
is tied up and he is not only faced
with the difficulty of meeting his OBJ
legations but he cannot go ahead prop
erly with his regular farming business.
He hasn't the money for seed, labor
and equipment and he is brought to
a standstll.
When the agricultural population is
affected in this way the whole nation
feels the pinch. The farmer is the
greatest buyer in the country as we'll
as the greatest producer. But his po-
tential purchasing power cannot make
itself felt in an effective manner so
long as he is compelled to play the
role of keeper of the national storage,
so to speak. He may have done his
part in producing food and other COM
modities. He may want to continue
operations and be willing to make the
necessary expenditure, but unless he
can find a market for his products
his hands are tied.
The way out of this situation is
to unite the farmers hands-to pro-
vide him with the means of spreading
the marketing of his products over
longer period and at the same time of
carrying on his regular farm opera
tions. If in this way, we can help the
farmer to help himself, the good eff
feet will extend gradually through
our whole business structure.
The War Finance Corporation is
now making every effort to supply
just this help. To assist in the or
derly marketing of agricultural pro-
ducts, the corporation is making ad-
vances on adequate security and on
sound business basis to properly quail
ified associations of producers, to fl
nancial institutions, and to exporters
of agricultural products. Good re-
suits have already been obtained. For
instance, the cotton belt used to make
80Gs of it's exports of cotton within
six months of the harvest. Last year
it forwarded only 51R in the same
period. This has necessitated the car
rying of from a million and half to
two million bales of cotton into the
second six months. The burden fell
chiefly on the original producers and
the country banks which do their f.
nancing. The War Finance Corpora
tion has authorized advances of near
ly S60,000,000 on cotton and the i'm
provement in the situation in the south
is undoubtedly due in no small degree
to this assistance.
Steps have been taken by the cor
poration to meet the financial needs Of
the live stock industry, so as to elm
mate the. necessity for sending i'm
mature stock to market and to save
the breeding herds; and assistance is
} being given also to corn growers,
wheat growers and many other
branches of our agricultural industry.
There is still much to be done, but
J what has already been accomplished
indicates clearly that we are on the
right road.
4 The restoration in marked degree
of confidence in business circles in
the south as a result of the improve
ment in the cotton situation has been
felt in other parts of the country.
; The purchasing power of the cotton
planter, having been greatly increas-
ed, he has gone into northern and
western markets for products that he
needs to carry on his business and to
support the labor that works his plan
tations.
Somewhat similar results may be
} expected in other regions and with
other lines of agricultural commodi-
ties, because the loans made by the
!; corporation will help to stabilize the
market and thus to engender the con-
; fidence necessary for more equal dis
tribution of stocks among producers,
| jobbers, wholesalers and retailers on
the basis Of the probable needs Of
consumers.
The corporation has no authority
t under the law to make direct loans to
) individual farmers. Along with other
methods, it is seeking to reach the
{ farmer or stock man through his local
4 financing institution. BY advances to
J. such institutions, not only will the
: pressure for forced liquidation be re-
e lieved but the banks will be put in
e better position to take care of the cur
e rent needs of farmers to the extent
e that their individual credit may war,
r rant. No advances will be made after
July l, 1922. x
B. J. Abbott and F. H. Green Of
Hankinson were visiting friends ir
town this week.