The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1921-12-15
WHY FARMERS POOL THEIR
GRAIN

OdhOIdy anu - htlOWl d. q HlSn duIll
ority on grain marketing, and is q
director of theh Equity Cooperative
Exchanged
Farmers are losing out and their
farms are rapidly passing into other
hands, not because they are not en-
ergetic 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 a condi-
ton to properly absorb succh offer
ings or not, and the results are that
very frequently vast quantities be-
yond the immediate needs of con-
sumption are offered the great pack
ers and grain gamblers and specula-
tive interests, which enables them to
put the price where they please, and
very often leaves the producer hold
ing 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 a
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 it is now accomplish
ing, has at last been able to realize
the dream of its existence. With it's
80 or more country elevators in
North Dakota, South Dakota and
Minnesota, its large terminal elevat-
or in st. Paul, together with other
ample storage elevator space which
it has acquired in Minneapolis, its
officers went to the government of
the United States, or, more properly,
the officers of the War Finance Cor
poration, and pointed out to the gov
ANHI - bl4nb II GU
it could be furnished this farmers
selling agency, a new system of mar
keting grain could at once be made
effective, that would at once place
the farmers, at least in this part of
the country, on a level with other
successful business institutions. And
right here is where the standing, in
tegrity, character, and business
methods of the Equity Cooperative
Exchange sustained it most complete
ly. Of course an investigation was
made by representatives OF the War
Finance Corporation AMI this far
mers' selling agency, that had been
built up by slow and steady growth
that had slowly but surely gained
the confidence of business i%nstitu-
tions of large means, also warranted
the Wan Finance Corporation in pla-
cling it's fullest confidence in ii.
Accordingly arrangements were
made and are now fully completed !
whereby $4,000, 900 has been plac- $
ed to the credit of the Equity Coop !
erative Exchange to enable this insti- !
,ution to form a pool so that grain l
nay be placed on markets only when
market conditions are favorable. 1t /.
would have been impossible to do this \
without the financial backing of the
Finance Corporation, for farm
,rs are in such shape now that they
hen, SO per cent of the value of all
,annot wait for long deferred pay I
entered in the pool will be adj :;
vanced to farmers at the time grain
S accepted, the balance to be paid as !,
;oon as the grain shall be sold. +
Thus a new and first step has been
aiken by farmers in marketing, :
let us hope, shall within a !
time entirely overthrow the old a
md ruinous system that made mil ~
ionaires of grain spectators and
af farmers. Nor will farm =
be the only beneficiaries The !.
business mar in the city will share
like with the producer in the adop-
ion of this new and equitable mar !
system, and when the bust !;
less mar and the farmer both come :;
understand true economic rela- =
ions, they will know that their inter- !
are common, and should be the =
'est of friends and each contribute :,
o the success of the other. ~
This is a splendid triumph for the te
Cooperative Exchange, but 4
! is one that it richly merits. Its
ong and hard fight for justice and
square deal for the great produc-
RS of wealth, it's courage and forti-
lde and the sublime faith that has
ways been placed in the tillers of tn
ne soil has been fully justified, and OF
It us hope that before long the old Js
Ian of marketing that places the lie
reat producers of wealth at the mer- OF
of both gambler and Spectator tn
nall be a thing of the ppast.