El Paso herald. (El Paso, Tex.) 1901-1931, 1921-01-11

TOLDHOW TO
GET ON FEET

Z 10 require the federal reserve board 70
] grant to the member banks Of the country
the right 60 redlscount with the federal
reserve banks four times the amount Of
] their capital stock. That was the ORIGINAL
intent OF the federal reserve act. or d
was so stated by VIM 6. 1reAdoo and
David T. Houston when they were cam
paiE1lnE this country in behalf Of the es-
Enlistment OF the federal reserve system
The granting Of tbs right 20 rediscounr
four times the amount % capital stock OF
the member banks. would make available
sufficient additional capital TO in large
measure relieve the present credit con-
T traction and stimulate trade activities and
thereby make Il possible Tor the cattlemeu
70 trade among themselves. restock thelr
idl9 pastures which exist today by the
millions OF acres. and be relieved from
the necessity CT sending every kind Of cat
tie TO the central markets TO be sold there
as Z we're under the hammer
Big Government Profits
y newspaper dispatch under date Of
december q, 1920, from New York. says
During the curreut year the net earnings
OF me New York federal reserve bank have
amounted 70 approximately S51.500. l0o
winch on its average paid in capital Of
about S24-5oo,0 900 Is equal TO 30 percent.
ne cattle interests OF the country have
mad 70 pay large share Of that unheard
or prollL Then why should not the I'm
terest rate 20 the federal reserve banks
be cut to percent2
Dissolve Injunction
ANAAAAa EAull4 ask LlE congress 10
seq aside the Injunction obtained by att
torney general Palmer against the packers.
mus restoring 10 the packers the COZ
unuous possession OF the stock yards as
Nei- as restore 10 them he right 20 handle
-fl4t preserves or any other commodity 81
commerce that they can handle 10 an ad-
vantage, thereby reducing the overhead
charges against our livestock.
Fifth, We should ask the congress TO
repeal the law putting a duty Of ter- cents
pound on coiored oIeom1rearire. This Is
an ubiquitous piece Of legislation procured
by the dairy interest OF the country and
low in 1000 pound fat steer OF COW about
sL5o.
I'VE. the cattIemen Of this country.
have been made the goat on two dis
lincE occasluns--firsts when we al
lowed the dairy interest to influence
the congress info putting a tax Of
ten cents per pound on nleoulargarine.
and the second time when we virtu-
ally aided (by cur agitation against
the packers the wholesale Eroccrs in
obtaining the Palmer injmction2
can almost hear some Who read this
/ say Walden IS working for the packers
but an not now, nor have have evsr
been in the employ OF the packers. I
never received q dollar OF their money
that / did not sell than some kind Of
I livestock for.
JOIN Hands with Packers"
7 carry no BRIEF for the packers. yet
have been a close student q every event
/ connected With the cattle Industry and ny
Observation has been wherever we start
agitation for packer legislation, Il reflects
20 the detrimeut OF the cattle industry
what We need 10 do Is to join hands
with the packers and ln1ugurate Eysts-
matte campaign 60 educate the people 70
the advantages Of eating beef
7 am not authorized to make the
Statement but dare say II we would
approach the packers On this propo-
sition they would contribute three dol
lars for every one we put up 10 de-
fray the expenses Of a systematic
beef eating campaign
Il think the Texas Cattle Raisers' as
ISOLATION should open up some retail butch
er shops BY that means We would get
concrete evidence as TO who Is 70 blame for
the unholy spread between what the pro
Gucers get for their beef and what tho
consumer has TO pay for It when It goes
what About Meats
7 notice BY the press that an emergency
tariff measure IS being favcrably- consid-
cred by congress. which while Il provides
a fair line Of protection on q great MANI
Agricultural products. frozen beef and
hides are not included I'm the bin ald thus
the cattlemen are left cut and orr iu
dustry denied the protection which We
are surely IN need or
.LeavinE meat and hides out or the
bin looks Ike the packers were WELD
ing an unhoiy influence in congress
as the privilege Of shipping frozen
meat 70 this country from their pack
ing houses in south America IL one Of
their most profitable side lines and
furnishes them a hammer to beat
down the prices they pay Us for our
livestock here
The sheep industry o. cur country has
had the same doses OF mlinutrltton admin
istered TO 81 az has the cattle Industry. and
I believe. = possible, they are the worst