Morris tribune., 1921-11-25
The Equity Pool.

made by Congressman Kelley at the
Equity Grain Pool meeting last week
Wednesday:
Farmers are losing out and their
farms are rapidly passing into other
hands, not because they are not ener-
getic enough in the production of
wealth, but because they have failed
in adopting business methods in mar
keting the crops they produce.
Grain and livestock are usually
thrown into the market regardless of
whether the markets are in condi-
ton to properly absorb such offerings
or not, and the results are that very
frequently vast quantities beyond the
immediate needs of consumption are
offered the great packers and grain
gamblers and speculative interests,
which enables them to put the price
where they please, and very often
leaves the producer holding an empty
bag.
This system is absolutely wrong
and must be discontinued or within
the space of thirty or forty years the
United States will see as complete
system of farm tenantry as the world
has ever witnessed.
But farmers are now, and for the
first time in the history of this coun-
try. enabled to avail themselves of
the best business methods in the mar
keting of grain. The Equity Coop
erative Exchange, a strictly farmers
cooperative marketing agency, con-
ceived and brought into existence
solely for the purpose of doing the
identical thing that it is now accomp-
fishing, has at last been enabled to
realize the dream of it's existence.
With it's 80 or more country elevators
in North Dakota, South Dakota and
Minnesota, it's large terminal eleva-
tor in St. Paul. together with other
ample storage elevator space which it
has acquired in Minneapolis, it's Of
ficers went to the government of the
United States, or more properly the
officers of the War Finance Corpora
ton, and pointed out to the govern
ment representatives that if credit
could be furnished this farmers SELL
ing agency a new system of market
ing grain could at once be made eff
fective, that would at once place the
farmers, at least in this part of the
country, on level with other success
full business institutions. And right
here is where the standing, character,
integrity and business methods of the
Equity Cooperative Exchange sus-
tanned it most completely. Of course,
an investigation was made by the
representatives of the War Finance
Corporation and this farmers selling
agency that had been built up by
slow and steady growth, that had
slowly but surely gained the conf
dence of business institutions of large
means, also warranted the War Fin
ance Corporation in placing it's full
est confidence in it.
accordingly arrangements were
made and are now fully completed
whereby SIS, 100000 has been placed
to the credit of the Equity Co-opera-
tive Exchange to enable this institu-
tion to form pool so that grain may
be placed on markets only when mar
ket conditions are favorable. 1t would
have been impossible to do this with
out the financial backing of the War
Finance Corporation, for farmers are
in such shape now that they cannot
wait for long deferred payments. I'm
der the plan adopted, then so per
cent of the value of all grain entered
in the pool will be advanced to far
mers at the time grain is accepted
the balance to be paid as soon as the
grain shall be sold.
''Thus a new and first step has been
taken by farmers in marketing which
let us hope, shall within short time
entirely overthrow the old and ruin
GUS system that made millionaires OF
grain spectators and tenants of far
mers. Nor will farmers be the only
benefciaries. The business man in
the city will share alike with the
produces in the adoption of this new
and equitable marketing system, and
when the business man and the far
mer both come to understand true
economic relations, they will know
that their interests are common
should be the best of friends and each
contribute to the success of the other
This is a splendid triumph for the
Equity Cooperative Exchange but il
is one that it richly merits. It's long
and hard fight for justice and q
square deal for the great producers
of wealth, it's courage and fortitude
and the sublime faith that it has al
ways been placed in the tilIers of the
soil has been fully justified, and lei
us hope that before long the old plar
OF marketing that place the great pro
ducers of wealth at the mercy of botf
gamblers and speculator shall be {
thing of the past"
Time To Reoin Grouiro uooc