The Republican. [volume] (Oakland, Md.) 1877-current, 1922-11-30
S1O0,OOO,OOO
TO AID FARMERS
Senator Norris Offers Bill for
Corporation to Buy and
Sell Products.
WESTERN SENATORS CONFER
Rural Credit System urged-capitaI
Stock to Be Furnished by Treasury. :
Provides for Lease or Purchase
Of Grain Warehouses.

/ Washington.-Ways and means of
extending the governments aid to
farmers has become the center of
activity in the senate. tgives promise
of taking precedence over all other
legislation. On top of many proposals
already pending for relief of agricul-
ture came these developments:
Senator Norris, of Nebraska, chair
man of the Agriculture Committee, in.
troduced bill setting up a 100000
900 corporation of indefinite existence
to purchase or lease elevators and
warehouses and take other steps nee
essary to purchase and sell agricul-
tural products.
Senator Laid, of North Dakota,
warned farmers against fiscal legisla-
ton designed by Wall Street bank
ers" to aid the farmer He spoke dis
paragingly on the prospective meet
ing in New York on Thursday and
Friday of the Academy of Political
Science 10 discuss the money prob
lem including the agricultural prob
lem"
Senator Capper, of Kansas, called a
meeting Of eighteen senators from
cattle-growing states to hear the
statement of Fred H. Bixby, president
| of the National Livestock Association,
comprising seventeen organizations
of stock growers, in behalf of legisla-
ton embodying a system of rural
| credits.
1t was announced that Senator
| Glass, of Virginia, former Secretary
Of the Treasury and a stanch defender
| of the Federal Reserve Board, would
introduce another rural credits bill.
| In every instance the common pur-
| pose was the substitution of some sys-
I TEN of credit for agriculture to take
| the place Of the War Finance Corpora
| ton, which expires on June 80 next.
| The Norris bill was in essential re-
spects similar to the measure for
| which the kellogg bill, extending the
| operation of the War Finance Ger
I poration was substituted in the last
Session of congress.
Mr., Norris would call the proposed
agency the Farmers and Consumers
| Financing Corporation" He proposed
that the initial capital should come
out of the United States Treasury and
the corporation be permitted to issue
bonds in five times its amount. He
| provided all holding the bonds ex-
ceeding $4,000 should be subject to
taxation.
1T is hereby declared to be the
object and purpose of this act" Mr.
| Norris bill said, ito provide a market
for the sale of agricultural products
and to eliminate as far as possible,
the commissions and charges that are
eXacted upon agricultural products
from the time such products leave
| the producers until the same reaches
the consumer, and thereby to increase
| the price which the producer receives
and decrease the price which the con-
sumner pays"
The Nebraska senator said it was
estimated that more than 40 per cent
! of the final cost of farm products goes
to the middleman. He proposes that
| the Farmers and Consumers Financ-
| ing Corporation be authorized to buy
agricultural products in this country
and sell them anywhere, at home or
abroad, and to that end provided the
agency with broad powers for their
distribution.
In addition to Mr.. Meyer and men,
bers of his staff the conference called
by Mr.. Capper was attended by Sena-
tors McNary, of Oregon; Stanfield, of
Oregon; Brookart, of Iowa; La Fol
lette, of Wisconsin; Sheppard, of
| Texas; Pittman, of Nevada Harreld
Of Oklahoma; Sterling, of South Da-
wota; Owen, of Oklahoma; Swanson,
! of Virginia; Walsh, of Montana: Kel-
logg, of Minnesota; Gooding, of Idaho;
Ladd of North Dakota; Nicholson, of
Colorado; Smith, Of South Carolina,
and Hefin, of Alabama.