The Tomahawk. [volume] (White Earth, Becker County, Minn.) 1903-192?, 1921-06-09

WASHINGTON. D. C. - On May
"a a statement by the new treasurer
Of the United States, Frank White
Of Valley City, N. D., showing how
good the bonds of his home state
we're, appeared in some New York
City publications. And within two
hours Wall street was making noise
that was heard in Washington-over
hot long distance wires.
The yell was not against anything
in the statement, because every big
kanker knows that it was correct, but
against violation of a statute passed
by congress in 1889 and approved by
the then president, George Washing
ton, forbidding United States treas
urers from being financially interested
in or pushing the sale Of any private,
state or national bonds. There was a
serious consultation by the leading
men of the treasury department i'm
mediately following this Wall street
yelp.
White had not been. in office long
enough to investigate as far back as
1889, and he prepared, the statement
at the request of some North Dakota
bankers who came secretly to WASH
ington recently for help. One of
Whites friends declares that it was
prepared for presentation to large
bankers only.
The old statute was obviously in
tended to prevent use of the Office for
personal gain; consequently Whites
offense is merely technical and Secre-
tary McAdoo was guilty of a gross
country to aid the sale of Liberty
bonds.
GRAIN GAMBLER THREATS
Threats by the Chicago Board of
Trade, made before the Illinois leg
islature recently, that it would take
its business to Minneapolis or Winni-
peg, were repeated here when the
house passed the Tincher bill by a
vote of 269 to 60. :
b. The press which owes first al
legiance to the grain combine is
everywhere attacking this bill, conse-
quently it is important to note that
the clause most complained of is that
which gives the secretary of agricul-
ture power to admit cooperative
farmer organizations to membership
in grain exchanges.
Grain men declare that this would
make handling Of grain on commission
practically impossible. But what they
mean is that cooperative organiza-
IONS could save the farmer so much in
his hitherto closed shop business that
they would in time have most of. the
business.
Aside from this provision it would
appear that the grain combine has lit
tie to fear, because the bill makes the
secretary of agriculture the king pin
in regulating the exchanges and he in
turn is entirely responsible to a presi-
dent who not only owes his position to
great business interests but believes
in them thoroughly.
His refusal to alter the federal grain
grades would indicate the way the
wind is blowing.
The senate has not yet acted on the
Tincher bill, and the grain interests,
with the press and with the natural
inclinations of most of the senator's,
may secure considerable alterations in
that body.
AN ANTI-ARGUMENT
One of the arguments most heard
here against regulating the grain ex-
changes is that the farmers are mere
agitators who do not know what is
good for them. And the chief proof
Of this point is that the farmers used
to agitate against the Minnesota
grades, and then when they got the
federal grades they found these worse
than the old grades.
Whereas the federal grades were
merely political trick to head off
demand for grading according to mill
ing values; They were of, for and by
the grain interests. No real, bona fide