The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1922-11-30
S1OO,OOO,OOO
TO AID FARMERS
Senator Norris offers Bill for
Corporation TO Buy and
Sell Products.

Washington. Ways and means of
extending the governments aid TO
farmers has become the center of
activity in the senate. II gives 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 500 900
900 corporation of indefinite existence
10 purchase or lease elevators and
warehouses and take other steps nee
essary TO purchase and sell agricui-
tural products.
Senator Ladd, 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 to discuss the money prob
/ lem" including the agricultural prob
/ lem"
Senator Capper. Of Kansas, called
meeting of eighteen senators from
cattle-growing states to hear the
statement OF Fred II. Bixby. president
of the National Livestock Association,
comprising seventeen organizations
Of stock growers. In behalf Of legisla-
tion embodying 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-
TEN Of credit for agriculture 70 take
the place OF the War Finance Corpora
/ ton, which expires on June 80 next.
The Norris bin was in essential re-
| spects similar 10 the measure for
which the Kellogg bill. extending the
operation OF the War Finance Ger
porauon was substituted in the last
| session OF congress.
Mr Nor'i would call the proposed
/ agency the Farmers and Consumers
Financing Corporation" lie proposed
that the initial capital should come
out Of the United States Treasury and
the corporation be permitted to issue
bonds in five times It's amount. lie
provided all holding the bonds ex-
ceeding $4,000 should be subject to
taxation.
1T is hereby declared 70 be the
object and purpose OF this act" Mr..
Norris bin said, TO 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 II was
estimated that more than 40 per cent
Of the final cost Of farm products goes
10 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. al home or
abroad, and to that end provided the
agency with broad powers for their
! distribution
In addition to Mr. Meyer and mem
bers Of his stan the conference called
By Mr Cappsr was attended by sena-
tors McNary of Oregon Stauheld Of
Oregon; Brookari Of Iowa Ia Fol-
lette. OF wisconsin, Sheppard of
4 Texas. Pittman 81 Nevada Harrcld.
ol oklahoma. Sterling ~ South Ia.
wota. owen. 81 oklahoma swanson.
Of Virginia walsh. of Montana Kel-
logg OF Minnesota Gooding ~ ldahos
L.add. OF North Dakota Nicholson, of
Colorado. smith 81 South Carolina.
and Heain ot Alabama