The Powder River County examiner and the Broadus independent. [volume] (Broadus, Mont.) 1919-1935, 1922-05-26

banking ana financing Institutions thru
out the eouth.
when Il became clear that the cot.
ton grower would have time to mar
kee HE output, that the corp would
- edequatoly 0naacod, and that ID
wcoA not have 70 dumn Il % IN ever.
loaded market In order % meet hid
obaigations, the whole businsss out.
look Of the Southern states wa
changed. Depression gave way to- hops
ana confidence. manufacturers and
merchants who had held hack began
to buy. the fear began 70 e out q
the situation. ana the resulting I'm.
provement was reflected throughout
the cotton belt. - well - In other
sections Of the country.
In the fluancing Of the live stock In.
dustry In the West. the normal lsngtA
q time required to bring growing
always received sufficient considera-
tica.
When the Agricultural Credits Act
was passed, August. 1881. the situation
confronting the live stock industry
was decidedly acute. The breeding herds
were being sacrificed ana young stock
not ready for market was being sent
to the block. endangering our future
meat supply. But the act save the
Cooperation adequate funds ana Az.
thority to deal with the problem on q
comprehensive scale, ana during the
past four or five months IL has author.
ised advances on live stock aegregat.
ing nearly @6e.0o0.oo0. Under the law,
leans may be made for . period Of not
to exceed one year. ana these loans
may. In proper cases, be extended for
IN additional period Of not to exceed
two years. thus giving the stochman
time tcs carry through his operations
without the necessity Of sacrificing
his immature and breeding animals.
One outstanding HDvelopment al
ready an accompl ished fact. 10 the es-
tablishment Of new I've stock loan
companies in the principal stockgrow.
Ing states. The Cooperation has en-.
couraged the bankers and business men
In these communities to form such
companies. each with substantial cap
ttal. in order to make it, resources
readily ana effectively available in the
In the corn belt. many farmers
make It . regular practice to buy
young live stock. and feed and fatten
them with corn and ether field prod.
ucts: in other words. to send their
crops to market ION four feet" Nor.
mally. about 30 per cent Of the corn
grown in the United States 10 fed to
live stock. And this process takes
time. For instance. it requires from
eight to ten months o fatten one-year.
old steers for market. and calves a.
long az q year. The farmer, with his
barns full of corn. needs considerable
time II he IL going to turn 1t into beef,
pork or mutton.
The corn crop In the last two years
has been extraordinarily large, the
total production amounting to approx
Imately s.300.000.ooo bushels. And the
collapse in commdity prices tied up
The banking facilities in the corn bel I
Ind made It impossible fer the farmer
TO finance his feeding operations In
the usual way and in the normal
volume. He had been accustomed to
feel that when he had good crop
most OF his troubles were over. but
he suddenly found that they were only
beginning. He was not in position to
inance the marketing Ct his commod-
ty over longer period. He could
aot get even his usual accommodation
IN the way Of funds for the purchase
II feeder stock: and It began to lcok
- II there were only dark days
ahead.
What 1t means to agriculture to be
Ii q position to spread the marketing
II Its output over a longer period Of
lime 10 indicated by the difference In
he outlook for the corn belt farmer
n October. 1891. when the War Fl.
nance Corporation began intensive cp-
,rations in that section. and in Febru-
Try. 1879. when those operations had
rad time to make themselves felt. In
corn was selling at country
elevators In Nebraska and Iowa at
lbout 20 cents . bushel. In February
I had risen to fifty cents and reports
Indicate that farmers were getting
he equivalent Of eighty to ninety
cents for corn marketed through live
Itocl.
The man who 10 In q hurry to sell
Q at q great disadvantage. And this
has been the customary plight CT the
producer. AZ soon a. he
,as q crop he 10 under pressure to
Iell. Either he has to meet . note
xiven to cover his last productive Of.
.ort, or he needs ready money to buy
,upplies and equipment for his next
operation. For one reason Or another.
he necessity has been almost impera.
i've to market his output ~ soon a.
possible after harvest.
At harvest time the national market
I crowded. 90 to speak. with farmers
anxious to sell. Products are abund-
Int and prices relatively low. Six or
tight months later. when the ccnsum-
sr 10 beginning to think about sup.
plies for the rest Of the year. prices
Ire mp and the farmers usually has
little to sell. II would be better for
the farmer Il he could spread his
over longer period. be-
cause In the long run he would prob.
ably get more for his crops: It would
be better for the rail- roads. because ie
would mean . more even use Of trans
portation facilities: It would be better
Fer the consumer. because he would
have more assurance Of getting sup.
plies at stable prices throughout the
rear.