The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1921-06-24

-rIsT
clear to- you write me and u shall u \ be e
glad toEexplain further if 1ss5. llv7 3
cry votershould be interested IA these, tl1ie i e
questions that are coming up before. e.
the United States Congress VIII ether;
nc is farm bureau membe or5 q a not 4 Il
Do YOU favor comm odity, ], financing 1lli ;Il1 g
based on bonded Wareho house receipts? rg 9 g p1,' !? q
II Bonded wareho house receipt ssssss q may g y!
be likened to certih hcates of deposit Of
money in bank; the comnlroad ltllE Cd lily
would be the money and the bond ltt I. !.
ed warehouse the bank. .''5 Wareh Z Gus. Is.
es are bonded" BY the GovNernme 4 NJ pean1,5 ment5
under the Warehouse Act. Using
wheat as the commodity, for g exam, Z am
pie the farmer would deliver his i &
wheat at the bonded warehouse \ and q;
receive receipt certifying the grade;
quality and amount delivered. This his.
s"'bonded warehouse receipt may then.
be used as collateral secnrity IN Sc
curing loan at the bank Com.
modify financing contempl ates the
pooling 81 ebonded warehouse re-
.ceiDts" and issuing debentures against
them. These debentures would be sal
able in the money markets and the
money SO obtained would be available
for the farmer: # IS, III
Fl. 2, Do you: favor live stock financ:
ing based on an ade deduate pledge Of
animals and, feed $is 5ss:S
BIZ, The use Of feed as well as live:
stock as collateral security lin secur--.
ing loans forms a safe basis for live
stock loans running a sufficient length
Of time K! produce as well as to { fat
len or, decelop the animals. .;;;:3 |. II.
3. Do you favor, the deYelo lopment.
Sof a personal rural credits system
based on proper afeguards'? !
At present 1t Is possible to obtain
credit for short periods Tor use s Sinii Ii
pprshasing live stock, machinery and
other equipment. hut it is dificnlt to
obtain long time credit, !, such as is
necessary for / tenant farmers y lor for
parties wishing to start farming, sey-
oral plans have been submitted. all
with the same object in view; to fur;
nish better credit facilities III farm
ers for use in promoting prod uction.,
"A a Do you request that authority
be granted the Federal Reserve. Board;
So to classify redis iscountsy as, to- give
priority to loans foras basic produc.:
on Of all kinds
Fsediscounting means the purchase
by one bank of note As and bills q. .,ex7-.
change held BY anot ther, the purchas- y
ing bank being prote cted by the sell
81nlga bank endorse sement of the dis.
counted paper Federal Reserve
banks MAJ red disco ountt ffor mem. IA.
t:bsr banks short mlee notes and bills.
55ol 81 sxchange ISSUED Hi drawn for ag, 81
- cultural. 4industr rial 5lors comme ercialIss
Ez;D poses y and conf ortning certain
spacia acations which havIe been care
fully, formuiated by the Federal q.
sssrVe a- Board \ basic prodnc cttons III
meant farming mining, NJ $lpmb eringg,
5.ss Do youS il Sfayo y InlcF sing "a StheS Slim.
I'LL on Federal X and 4 Bank mortgage
loans sz IS from; 900 $4,000 SssSisIs;
This incTe ease: ~ ould enable
adequately purchassss
s,f vi, aa ion 81 land
s.4 d. WI III s x ESng gress
zto 81 limit toS Sthe states 'ls a cont
amassnadInent Prob htbit tins tfs
asres ~ Sali asssss
ax sEssa aFe
and munISs man
s an
- more 11ars than o, sans sinly;I
NV; Iby wealth and ElaS E
statss. hesa bond JLst
M land is.s q bpnt ii tss s escs l
li sAson 4 "
csssit s,,,5 y othssIf b ptoip1srty.|
5ypa tnutng
I'D cess
{, i. n lisi 4 ax
i0per cent
~ sTtain cr s ~ a. @A N