The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1922-09-29

as it has for the past 30 years in which
it has doubled about every ten years
and in 1920 was 44S,000, 100000 ton
miles, it would absolutely Impossible
for the railroads to take care of the
increased tonnage.
We get some idea of the tremendous
saving when we consider that the cost
Of carrying 1000 tons by water or 100
tons by rail is equal over the same
distance. No additional taxes will be
levied for this project as the cost will
be paid bonds issued by the govern
ments of the two countries interested
and the project from power and navi-.
cation receipts, will pay it's own way.
Orderly Marketing
Another important factor in secur-
ing reasonable price for the farmers
wheat is the lack Of orderly market
ing. We should establish warehouses
in which the wheat could be stored,
negotiable receipt issued and loans
made to the farmers on these negot-
liable instruments which would also be
protected by insurance In bonded
warehouses. This system should be So
operated that farmer could take his
storage ticket to. a bank and borrow
what money he needed and the bank
in turn send the note and the collat-.
eral to the federal reserve banks
These loans should be recognized and
encouraged by the federal government.
Today in order for the farmer to get
money it is necessary for him to cell
his crop. Certainly, q great improve
ment can be made on sound banking
principles by extending such loans
to farmers. This would insure an or.
derly. marketing of the great wheat
crop and, other crops from this state.
The tobAGco farmers have solved the
problem. In Kentucky the growers
last year pooled their chop, stored it.
in warehouses, established grades, and
standards, borrowed money on it and
then sold it in an orderly manner in
stead Of dumping it in the market
at series Of auction sales. The to-
bacco growers Of Virginia, North and
South Carolina decided to follow their
example The sTri-State Tobacco
Growers association war formed aud
it now has membership of about
200 members. One of the requisites
of membership is the signing Of q Ave
agrees to market all the tobacco he
raises through the association pool,
with a penalty attached for failure to
do so. In one year, the association
has accomplished the following re-
markable results: It has signed up
membership Of $4,000 out Of 10000
growers, or about 65 percent It has
acquired through lease and purchase,
$50 warehouses which are available
for storing this years tobacco crop.
It has secured an advance Of 10000, 900
from the War Finance corporation in
in addition to some $10, ,000, 900 Of local
credits. What the tobacco growers
have done the wheat growers can do.
Farm Loans Too Low
| Ii is estimated that the farmers
have invested capital amounting TO-
$50, ,000, ,000, 900, and during the past
few years there has been practically
no returns on this investment. It Is
estimated that the investments Of alt
other business is about double that
CT the capital of the farms, but yields
a, return of about $2O, 900. .O00, ,0O0.3. The
rediscounts Of the federal reserve
bank amounted to $4,000, ,000, 900; and
Of this agriculture received IL per-
cent; manufacturing, 21 percent:
ton and miscellaneous, 20 percent.
When We realize that of the primary
United States agriculture furnishes
approximately SO percent, labor 90
percent and all the othefbusinesses 80
percent, it can. be readily seen that
agriculture is entitled 10 more than
merchandising and manufacturing
combined, and should have received