American Falls press. [volume] (American Falls, Idaho) 1907-1937, 1922-05-12
WAR FINANCE HEAD
ASKS LONG TERM
FARMER CREDITS
SAYS AGRICULTURE MUST HAVE
ONE TO THREE YEAR LOAN Pa
CILITIES TO SUCCESSFULLY
MEET CONDITNONS.
BOOSTS CO-OPERATIVES
Investigation Shows Healthy Financial
Condition of Marketing Association
In NOrthwest-Sees Better Times
Coming Rapidly.

The western farmer receives most
of the attention of Eugene Meyer, Jr..
managing director of the War Finance
Corporation, in his report on condition
of Agriculture, Livestock ad Finance
reported to President Harding, May
first.
Mr.. Meyer makes four specific re-
concentrations that in all probability
will be incorporated in bills and pas
sed by congress within the year. Those
of vital interest to Snake River VAL
! ley farmers, are the recommendation
that banking facilities be adjusted to
extend long term credits to farmers
and live stock men; that loans of mon
| ey be made available to cooperative
marketing associations and that the
War Finance Corporation be allowed
to function until these necessary
changes can be made The report in
part is as follows:
The degree and the rate of improve
ment in the different sections of the
West vary with the nature of the ag-
ricultural activities and the market
ing season. The corn and hog Eais-
ers of the Middle West, for instance.
are marketing their products and get-
ting fair return for them every day,
This territory, therefore, is in the lead
in the improvement. The sheep rails
ers are getting good prices for wool
this spring and fat lambs are in de-
mand at satisfactory prices. Those
engaged in the fattening of cattle in
the Middle West have likewise done
well during the past few months. The
live stock breeders also, are better
off because of their increased ability
to finance their business and because
of the improved market at higher
prices, actual and prospective, for
young stock. The grain growers OF
the Northwest, on the other hand.
have not made as much progress as
yet, because large part of last
years wheat crop was marketed at
low prices.
Defects Named.
The experience of the past year has
however, revealed certain defects in
our agricultural credit system which
are of more fundamental nature,
and whichOcannot be remedied by tenn
! porary measures. In considering
whether and to what extent the pow,
ers of the War Finance CORPORATION
should be extended beyond their pre-
sent limit of July /, 1922 and what if
any new legislation may be required.
1t is important to distinguish clearly
those features of the recent agricultur-
al crisis due to temporary emergen-
cy and yielding to temporary measures
of relief, and those revealing defects
that require permanent remedies
While in the West, l had the op-
| portunity of meeting the directors and
managers of many cooperative mar
keting organizations, and in some
cases of visiting their working head
| quarters and their warehouses. Cali
| fornia was the first State to take up
cooperative marketing on large scale
in this country and there it has been
carried on in its most highly developed
form. In San Francisco l met the re-
! presentatives of 26 of the leading CO.
operative marketing associations of
the State and was enabled to get the
benefit of their experience and views
Our financial system has apparent
ly been based on the expectation that
the farmer would sell his crops as
soon as they matured. And the i'm
mediate sale of the seasons product
| by the farmer contemplated it's being
carried by middlemen until distribu-
/ ted through manufacturers or retail
| ers. AS has been stated so often, the
farmers crop is harvested within
short period and consumed through
out the year. The processes of finan-
cling should adjust themselves to the
} (Continuad from noOa el