The weekly times-record. (Valley City, N.D.) 1912-1922, 1922-08-10
GOVERNMENT AID IS
SOUGHT FOR FARMER

SOUGHT fOk fAkmM
Washington, D. c., Aug. 9.-Upon
/ representations of Congressman J. H.
Sinclair as to conditions in the North
west with regard to the possible
blockade in marketing the present
crop owing to car shortage, Senator
E. F. Ladd~ and Congressman Geo. M.
Young conferred today with Eugene
Meyer, chairman, War Finance Cor.
poration, with regard to the POSSIBLE
ity of furnishing funds to the farmers
of the west on warehouse receipts so
as to forestall selling of farm pro-
ducts at ruinous prices. Mr.. Meyer
assured them that the matter would
receive his immediate attention and
that necessary financial assistance
would be given.
"Kenmare, N. D., Aug. 8.-Situa-
tion in northwest demonds prompt ac-
ton in giving financial relief to farm
ers. In face of coal and railroad
strikes farmers will suffer from car
shortage and resultant poor markets.
To insure orderly marketing through
out the year and relieve both rail-
roads and local business men, the
government should loan fifty million
dollars to North Dakota banks to be
loaned only to farmers on grain until
such time as it can be handled by car
riers. If producers could borrow
seventy cents on the dollar on grain
in warehouses at present market val
ues it would prevent congestion and
stabilize pricts. A billion dollar crop
is being harvested and will liquidate
the farmers debts, restoring business
prosperity to the northwest if the
farmer is not forced to sell at ruinous
prices. A few months temporary as
sistance will save farmers from
bankruptcy. Your favorable action is
urged.-J. H. Sinclair, M. C. Third
District of North Dakota"
The above telegram was sent yes
terday to Eugene Meyer, Jr, chair
man of the War Finance Corporation,
by Congressman James H. Sinclair Of
the Third North Dakota district. It
was sent at the request of large
number of farmers and business men
of the state who are becoming alarm
ed over the present strike situation
and the rapid decline of farm products
prices.
''The way rye, wheat and potato
prices are dropping now many farm
ers are beginning to feel that it is al
most useless to harvest the crops this
year." said a farmer who was in Far
go yesterday. with rye below 60
cents and rapidly falling, potatoes less
than SO cents and wheat rapidly ap-
preaching the dollar mark, the pros
Epect for US farmers is anything but
Yrosy There is going to be very little
left with which to pay our bills after
our harvesting and threshing expenses
have been paid at this rate. There
certainly will be no profit in it for us,
but we will find ourselves deeper in
the hole than ever.
Collectors on Farmers Trail
| "With the, collectors on our trail
most Of us don't feel like trying to
hang on to our grain and besides they
would not let us if we wanted TO- So
we will have to rush our crops to
market, swamp the transportation
systems and the terminals, with the
result that prices are hammered down
by the gamblers still further. That
under these conditions, there are still
people who can defend our marketing
and financial system is an enigma to
me-"
State Facing Financial Collapse
The action of Congressman Sin
clair in appealing to the war finance
cOTpOIdCiOH W IlleahS " pOoolO1e AOA
the local bankers to make short time
loans on grain to the farmers received
a great deal of favorable comment
yesterday. Bankers and other bust
mess men are beginning to realize that
if the farmers Of this state are again
forced to sell their crop at a loss the
l Il n l. L
halted for some time to come. It is
generally agreed that some such ac-,
ton as urged by Congressman Sin
clair is imperative at this time or the
whole financial structure of the state
/ is certain to collapse.