The Washington herald., 1921-06-16
ADOPTS MOTION
TOREVlSE GRAIN
MARKETING PLAN
Conferees Agree on Stor.
age Certificates as Be
ing Most Practical.
MAKES AID EASIER
Measure Aimed Directly al
Conditions Of Widespread
Complaint.

Representatives Of farmers, grain
dealers, elevator operators, and otn-
ers, have agreed to set In motion .
plan which would enable farmers
to use storage certificates as collat-
eral in obtaining loans
Agreement was reached at a con-
ference here, held under the direc-
tion OF Secretary Of Agriculture
wallace and Secretary OF Commerce
Hoover
The object of the scheme Is 70
.rt.nd the ability Of farmers TO get
credit, and at the same time 10 sen
their products at a time when they
consider market conditions advan-
tar.ous. II aims directly at conol-
tIon. which have aroused wioe-
.pread complaint: the dearth OF
rr.dit ana the fact that farmers are
Frequently forced to sell their crops
on a giutted and declining market
Hoover Makes Statement.
s.-re,arv Hoover made this an
nouncement at the conciusion VI
conference yesterday aI,
The plan was consloereo
parties to the conference 10 pc p
teal and to promise great
tages. 1t was agreed tnat the pc
requires no Federal legisiatlon 81
differs entirely from all otner
hitherto proposed, as u
upon issuance Of the certincS ,'aSn
20 quantity and grade oy tne
itv companies. and provides
Of movement Of commooltles ~
local TO terminal warehouses II co.-
restion requires II p',n ~.
ana in no way competes WIN -
,,rrers, cooperative storage anu
marketing plans or
~The farmers representaI o
ne one hand. and the eieVa
warehouse. and Insurance
nies on the other decioeu
once develop the matter IN
with their various ass1n. assocdt
The farmer. II was eAp
uouId haul his grain to the couhl,y
elevator, and receive a certincase
setting forth the quantity
and quality and showing tne @ "
charge for warehouslng'
and Insurance against nre ahd o'n
risks. Grain could be naulee-e
time of greatest farm economy, ou'
Immediate sale would not DC .S n
sarv. The certificate would consS-
tute an order for delivery OF
grain, and world serve as prime CO..
lateral at the bank. or couiu %
,old by the farmer when ne "sneu'
Provides for Long storage.
.v.tem of small local eleva-
"a warehouses which exists
tbroughout the country MAKES II
'r,nossibIe to provide for long stor.
ace Of grain in any quantity.
a. farmer, as conditions are now
,,isbes TO hold his grain until Ine IneIe
a. more favorable market, ne mus mus
i,.an n on the farm, and oorroW
onav from, the local bank where
- cradi, relation is personal. Inc
hT,,.,, ~ the local bank to exteno
5;t a. turn, is limited by the
lack Of collateral. ~.
Under the plan pro1eceu az
rountry elevator woulo
ri9bt 10 ship grain to the termlne'
elevator, delivering upon
,,o, of the certificate, at the .ef
r,jnaI. grain of the same or OF
sJgher grade Freight and o'ner
.nsrres would be deducted from tne
It =. contemplated also that there
.So,,I5 he some means OF settilnS
sI.agrssments as to quantity grade
- 1naIity. since the settlement oe-
-ssn the farmer and country eie-
80 must be absolute. II Is sug
.stsS this could be arranged
.srourb submission of samples TO
- nearby authority, such as the
80. supervisor of the Department
- Agriculture.