Evening star., 1922-02-19

called Norris bill was proposed to
effect a cure. This provided for the
creation of a corporation to purchase
the surplus of wheat and other farm
products. with a view Of holding
them in the governments hands until
such a time as they might be sold ad-
vantageously.
This bill gave way to substitute
reviving the War Finance Corporation,
first appropriating $500.000.000. then
providing that when the corporation
ascertains conditions due to the war
have resulted in or may result in an
abnormal surplus accumulation Of
any sstaple agricultural product or
lack of market for the same, or that
ordinary banking facilities are made
Quate to enable producers or dealers
to carry such products, the corpora
tion shall make advances Of funds to
persons or associations, or any bank
or trust company, to an amount not
exceeding $1.50O.0O0.000 The bill was
broadened to cover live stock raisers,
and thus broadened became law.
To throw further light on the sit
uation, a joint resolution passed the
Senate May 8, 1921, and the House
June z. 1921, authorizing the creation
of joint commission Of agricultural
inquiry, directing the commission to
inquire into u) the causes of the
present condition of agricultural: (2)
the cause of the difference between
the prices of agricultural products
paid to the producer and the ultimate
cost to the consumer: (3) the COM
parative condition Of industries other
than agriculture; (D the relation
of prices of commodities other
than agricultural products to such
products; 60 the banking and finan-
cial resources and credits of the
country, especially as affecting agri-
cultural credits: (6) the marketing
and Transportation facilities of the
country.
The commission, headed by Repre-
sentative Anderson of Minnesota, has
agricultural crisis and its causes. (2)
credit, (3) transportation, "a distri-
bution>and marketing. The first two
reports have been printed. They COM
prise nearly 500 pages. brim full of
information touching the subject Of
and recommendations. A summary of
these recommendations brings out the
significant facts that U it must be
understood that the jurisdiction of
IHG 1euSEdl government Is limited
and that it cannot directly regulate
production, marketing and trans
portation, not the subject of inter-
state commerce.: (2) that. the crisis
was not confined to this Country; 1t
began in Japan, Travelled the circle
Of the far east, Europe and finally
the United States, embracing ali
countries and all industries: (3) that
during the period of price decline the
wholesale prices of other commodi-
ties Jagged behind the prices of farm
products, and retail prices Jagged far
behind wholesale prices.
The government has advanced many
millions to farm loan banks, and Com
gress has amended the farm loan act
SO as to make 1t possible to sell bonds
for loans to the farmers. Congress-
has passed law to regulate and con-
troll grain exchanges. has placed
stockyards and stock exchanges un-
der federal supervision and control.
~ X + X g
This was the background Of the pic
ture when Congress seriously took
up the question Of stabilizing and fix
ing the price Of certain agricultural
products. in response to the demand
Of the National Agricultural Confer
ence. Has Congress the power to fix
prices, except in time Of war? Are the
dificulties under which the farmers
are laboring Of such a nature as to
cn,no ,,nder the nhrase "in tina ~