, 1922-06-08

strong in the Senate. In the
House there had continuously been a
more moderate view as to what was
likely to prove useful and helpful !
and these two views we're SO diverg-
ent as TO defeat 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 Representatives Of a
practical. workable and effective bill
for the regulation OF packing and al
lied Industries. Such a bill was con-
siderei very promptly after the con-
vening OF the Congress. and az
promptly passed. 1t went to the
Senate, where the more radical legis-
lation which had been urged in thai
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 con.
ference practically the last vestige
of the extreme Senate views disap-
peared. and the bill as it became a
law was in substance and essence the
House bill. 1t has proven a practical
's 81 pi'No VI lVh
Agricultural and Live Stock Loans
Very early after the converting of
the 67th Congress it became apparent
that some method out of the ordinary
must be inaugurated In order to save
he agricultural and live stock in
tcrcstS OF certain sections OF the
country from bankruptcy. President
Harding and his advisers early took
h" matter into consideration and
various plans of assistance through
the help of official agencies were
suggested. While these matters were
under consideration the secretary of
he Treasury. with a view OF afford
: ing temporary relief until more
| permanent measures could be adopt
, ed. encouraged the organization
among the bankers OF the country Of
what was known as the live stock
pool. with IA view of l~oaning about
$ $4,000, 900 to the live stock interests
or the country to furnish %immediat"
I relief. In the meantime it had been
proposed by some that legislation be
secured for a $50. 900 loan from
: The Treasury. but this plan involved
so many difficult questions and the
: sum proposed was manifestly 30 in
i adequate that the Administration
continued to consider plans of less
: questionable character and which 1t
$ was hoped would afford abundant re-
e lief.
The War Finance Corporation
p which had been organized during the
Il war. primarily with a view OF aiding
S and stimulating exports, was the
natural agency to turn to in a mat
g ter of this kind, but the Wilson Ad-
ministration had practically put the
War Finance Corporation out of
business. After much discussion i;
e was proposed to revive the War Fin.
h ancc Corporation and to give i,
c abundant authority and funds to meet
the situation. To this plan Mr.. Mon,
dell gave his enthusiastic supper
IS and assisted greatly in its conSum
nation, and since the enactment O
y the law has been very active in as
e ris'ing his constituents in sccurin.
y III" benefits of this institution. u
10 date Wyoming has secured loan,
amounting to approximately $1,000.
8 10000.
Anti-Grain Gambling I'm
" For years tho Cngrcss has consiI
" cred the question of limiting or
: ibollShlng the practic" of gambling
in grain futures, but ii was impos-
Siblc to secure legislation on tn"
subject because Of the wide range of
opinion. In this. as in the matter Of
! packer legislation. the House Of Rep
l rcsentatives lac taken a moderate
view as rom ma rod With ,h, ,,l;ooI
! view held by a small cotrric in the
Senate. All attempts at Legislation
anne to nauEht. As in the matter OF
the packing legislation Mr.. Mondcll
early in the beginning of the Hard
ing Administration urged those in
'ereSf"d in this legislation in the
House Of Representatives to prepare
their bill promptly and promised
support and prompt consideration.
\ bill taxing contracts for the sale
or grain for future delivery. and
options for such contracts. and pro
viding for he regulation of Boards
81 trade. and for other purposes"
vas promptly reported and passed
and in due time became "A law. It,
influence in strengthening and stab
iiizing grain prices has been marked,
Associations OF Agricultural
Producers
Mr., Mondell warmly supported the
bill authorizing farmers and ranch
men to form associations for tho
marketing and selling Of their prod
ucts without being subject to The
palns and penalties of the antitrust
laws. The passage of the beneficial!
Dill was long delayed in the SENATE. ,
but it eventually became a law
February IS, 1929.