The Washington herald., 1922-01-25
Baruch Saws the Farmers
Need Warehousing
Facilities.
WOULD PROVIDE
NEW CREDIT PLAN
Bay State Delegate Asks
Program of Financial
Relief.

one OF agrlculture's greatest
needs is adequate warehousing IA
cilities. in. the opinion of Bernard
NJ Baruch. former chairman of the
War Industries Board.
Baruch. who Is one Of the dele
gates to the national agricultural
conference, has made an exhaus-
tive study of farm problems. other
outstanding needs. he believes, are:
Cooperative mark citing organi-
zations. to put the farmers on an
equality with those who purchase
his products. and on an equality
with other industries.
supplemental financing. indepen-
dent ~ theS government. to increase
the radius of farm credit.
Fnvors state Construction.
Baruch would have storage ware
houses built for cotton. wool. to-
bacco and grain. having a large
enough capacity to meet all de-
mands. Construction would be by
the State. and The payment would
come over a period of years from
the storing charges. Products
stored would be certified by a neu-
trail grader. And the warehouse
certificates would serve as a basis
of credit for the farmer.
The farmers products usually
move to the market whep there is
a great congestion bot. In the
money market and in traffic condi-
ttons," said Baruch. The result
Is that often the farmer Is COM
pelled to sell under pressure at a
disadvantage"
Greater warehouse facilities, h.
pointed out. would enable the far
rner to store his products until mar
ket coaditions were favorable. :
State-or cooperative warehouse
would insure fair charges for serv-
ice The warehouse certificates
Baruch believes. should be dis
counted at a new system of bank
Ing Institutions. which would issue
paper against them.
would widen Credit Radius.
-There would be no better short
time investment or collateral thar
these obligations" said Baruch.
The system would extend the
make available for the marketing
OF agricultural products a large
amount of money now in the hands
of private investors"
Eugene Meyer, jr., managing di-
rector OF the War Finance Corpora
tion, told the conference yesterday
that more orderly marketing %
crops is needed to meet changed
marketing conditions.
We must recognize the necessity
of selling our agricultural products
more gradually than we did in for
mer years, and the correspondent
necessity of carrying our commodi-
ties for a longer period OF market
ing" said Meyer.
"Progressiyes, Dissatisfied.
Meantime. there are evidences of
trouble in the conference, resulting
from the presence of a so-calleF
progressive group" members o.
which are not entirely satisfied with
the organization of the conference
Herbert Myrick, delegate from
Massachusetts and editor of a farp-
journal. said the progressive ele-
ment does not intend to be "leS
by the nose"
This group, according to Myrick,
will support the activities of the
farm bloc in the Senate. and will
insist on carrying out what it be-
lievcs is a progressive program.
This program includes financial
relief. even if the government
must extend credits totalinG 81 .OOO.-
100000 or more: 25 per cent re-
duction in freight rates. insurance
against loss and provisions for the
development of cooperative mar
kcting and buying.
Looks for Fireworks.
The committees may discuss
such harmless topics as crop and
market statistics. agricultural re-
search and education. national
land policy and the farm popula-
tion and the farm home to no
end" said AKyrick They may
even discuss agriculture and price
relations and transportation and
the rest of the economic phases
Of the farmers difficulty. But ]
do no tlook for drastic recon-
mendations from the committees.
But watch the general ses-
sions. They wil1> bring the fire.
works. The farmers are not
do not look for drastic recon-
going to be led by the nose. They
are going to kick over the traces.
The farm bloc is going to stay in
Congress and put through legis-
lation which will stand the farmer
on his feet. Before this confer
ence. is over the nation will see
that the farmer knows what he
wants and is going to get it."
wannamaker Motion Defeated.
The second days open session.
was marked by attempts at in
zsurgency by ]. S. Wannamaker. of
south Carolina, and Herbert My
rick. Just before the close of
Yesterdays meeting. Wannamaker
proposed the formation of a COM
mittee on resolutions to take care
of all resolutions not entertained
by the committees already ap-
oointed." This motion, interpreted
bv opponents of Wannamaker as
an attempt to run" the confer
ence, was defeated.
Myrick's progressivism took form
in an ex-tempore speech endorsing
ne arms conference and proposing
that the United States offer to take
over the entire navies of the allies
at full eost "as payment toward the
billions they owe the United States,
and accept on account the aiifes'
,ther war equipment at junk prices
20 be sunk in the Pacific, ten miles
ieep." This, he explained. was SYM
bolic Of the attitude that should
ro.s....S ~. poa, Thr>a