Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1922-08-26
MEYER OUTLINES
PLANS To HELP
LIVESTOCK MEN
Chairman of the War FL
nance Corporation Prom
iSeS the Industry All the
Aid Within His Power.
tEs The Associated rress.l

DenNer. Colo Aug. 20 Eugene
Meyer Jr., of Washington. chair
man Of the war finance corpora
ton. before the American National
Livestock association i'll mid-year
session here today. outlined his
proposals for the permanent fl
nancing OF the livestock industry.
He promised all the aid within his
power, and suggested that a spe-
cial committee Of the association
take up the subject with Il view to
adequately financing the industry.
MIR. Meyer explained that the
war finance corporation was "A
temporary organization, and that
its purpose was merely to meet an
emergency. NO similar organiza-
ton of permanent status, he said,
could hope to receive the co-opera
tion and fleets of the men who
had volunteered their services, as
other business would not permit
them to devote so much time to the
corporation,
Many Plans Proposed.
THE activities of the war finance
corporation" said Mr.. Meyer, and
the condition of the livestock in
dustry has shown the necessity OF
some plan that will take care OF
cattle from breeding time to ma
turity. There have been a number
of plans proposed.
THE Caprer bill in the senate
and the McFadden bill in the
house are two measures aimed at
a solution of the problem. These
bills propose cattle loan companies
that can issue securities on cattle
and would result in bringing out
more money for the industry.
Congress has also a plan for
continuing the war finance corpo-
ration under another designation
but 7 do me- believe that this IS
practicable for a permanent relief
If we an finance the industry
through regular channels. it will be
not only practicable but far more
satisfactory.
To get adequate capital for
financing the livestock industry YOU
must convince capital the indus
try Is sound; you must give conf
dence to the industry and this as
sociation can give this confidence
There must be. proper supervision
Of shipments, and, above all. there
must. be absolute inspection
Licensed Inspectors.
inspection, / believe, Is the
most important thing. | would
suggest ( ut this association have
a corps of. licensed inspectors, The
reports Of these men would give
greater assurance OF the safety OF
the loan"
Tho war finance corporation has
loaned n total of $S5.000.000 on
livestock, s30,0O0,000 Of which has
been through banks and an addi-
tional s55, 100000 through cattle
loan companies. Mr.. Meyer said.
Most of these loan companies, he
added arc ne companies.
Il believe that an amendment td
the national banking act can he oh
tanned that would permit a national
bank to subscribe for stock in \
cattle loan company" he contld.
ued. Under the Edge act a M
tional harl; can subscribe for stock
in an inst - ton financing imports
The CT til loan company. there
fore, aeems to me the way to fl
nance the livestock industry of this
country permanently. | would suS-
gest that tho president name a
committee to take up this subject
and I shall b. glad to aid them, Il
| can"
Mr.. Meyer left late today for Art
zona to Join his family, now tour
ing that state