, 1922-10-22

under which the Farm Loan Board
had its working capital increased to
approximately $55.0O0.000. He has
been very active in helping to secure
the benefits of the act for the farm
ers Of Wyoming.
Packer Legislation.
Early in his service Mr.. Mondell
supported legislation providing for
regulation OF the packing industry and
the inspection of meats in packing es-
adjustments. From time u time there
after there was agitation in both the
House and Senate for further legis-
lation placing the meat packing indus
try more completely under Govern
ment regulation In certain quarters
this agitation took the form OF h ap-
proyal of extreme measures OF Gov
eminent management and control of
a character the unwisdom of which
was abundantly. demonstrated by our
experience during the World War.
This radical attitude was particularly
strong in the n at In the House
there had continuously been "A more
moderate view as 70 what was likely
to prove useful and helpful and these
w views We're so divergent as TO de-
feat Legislation. After the election In
1920 Mr.. Mondell urged as one of the
early acts OF the new Congress the
consideration by the House Of Repre-
scntatives OF n practical. workable n
effective bill for the regulation of pack
ing and allied industries. Such u bill
was considered very promptly after
the converting of the Congress. and MS
promptly passed. II went to the Sen
ate. where the more radical legislation
which had been urged in that body
was substituted for the House bill. on
the floor Of the Senate. however. the
Senate substitute was In the main
stricken out and the House measure
! restored, and in conference practically
the last vestlge of the extreme senate
views disappeared, and the bill rs il
became n law was in substance and
essence the House bill. 1t has proven
"A practical and helpful piece of legis-
lation.
Agricultural and Live Stock Loans.
Very esrly after the converting of
the Slxty-seventh Congress 1t became
apparent hat some method out OF the
ordinary must be innugurated in order
to ave the agricultural and live stock
interests of oertain sections Of the
country from bankruptcy. President
Harding and his advisers early took
the matter into consideration and va
rious plans of assistance through the
help of official agencies were sug-
gested. While these matters were u
der consideration the Secretary of the
Treasury, with n view of affording
temporary relief until more perma-
men measures could be adopted, en-
couraged the organization among the
bankers of the country of what was
known as the live stock pool. with n
view of looming about $50.000.000 to
the live stock interests of the country
to furnish Immediate relief. In the
meantime, 1t had been proposed by
some that Legislation be secured for n
S50,000,000 loan from the Treasury.
but this plan involved so many diff
cult questions and the sum proposed
was manifestly so Inadequate, that the
administrator continued to consider
plans of less questionable character
and which it IA hoped would afford
abundant relief.
The War Finance Corporation,
which had been organized during the
war, primarily with a view of aiding
and stimulating exports, was the nat
ural agency to turn to in n matter of
this kind, but the Wilson .administra-
ton bad practically put the War
Finance Corporation out of business.
After much discussion, it was pro-
posed to revive the War Finance Cor
poration and to give IL abundant au-
thority and funds to meet the stiua-
ton To this plan Mr.. Mondell gave
his enthusiastic support and assisted
greatly in its contamination, and since
the enactment of the law has been
very active in assisting his constitu-
ents in securing the benefits of this
institution. Up to date Wyoming has
secured loans amounting to over 3d.
000,000.00.
Anti-Grain Gambling Bill.
For years the Congress has consid-
cred he question of limiting or abol-
ishing the practice of gambling in
grain futures, but it was impossible to,
secure legislation on the subject be-
u of the wide range of opinion.
In this, as in the matter of packer leg
islation, the House Of Representatives
had taken a moderate view, as COM
pared with the radical view held by a
small coterie in the Senate. All at
tempts at Legislation came to naught.
AS in he matter OF the packing leg
islation, Mr.. Mondell early in the be-
ginning of the Harding administration
urged those interested in this legisla-
ton in the House of Representatives
to prepare their bill promptly and
| promised support and prompt consid-
GRAFTON. a bill taxing contracts for
the sale of grain for future delivery,
and options for such contracts, and
providing for the regulation of boards
of trade, and for other purposes" was
promptly reported and passed, and in
u time became n law. Its Influence
in strengthening and stabiiizing grain
prices has been marked.
Mr.. Mondell warmly supported the
bill authorizing farmers and ranchmen
to form associations for the marketing
and selling of their products without
being subject to the pains and penal
ties of the antitrust laws. The pas
sage of the beneficial bill was long de-
layed in the Senate. but it eventually
became a law February IS, 1922.