The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1922-01-26
(By Associated Press Leased Wire,

(By Associated Press Leased Wire.)
Washington.-Part in the
economic rehabilitation of Europe, ex-
tension Of credit to foreign buyers
through the federal reserve system and
perfection of the cooperative market
ing idea, were among the remedies for
the existing agricultural depression
recommended today by speakers before
the national agricultural conference.
The speakers were unanimous in the
opinion that sound marketing policy
was of equal Importance as one gov
erning production. Sub committee APP
proval also was given the st. Lawrence
Great Lakes waterway project.
Gov. J. NJ. Parker Of Louisiana, who
proposed making credits available to
foreign buyers through the federal re-
serve system, aroused enthusiasm when
he called upon patriotic Democrats of
the south to stand shoulder to shoulder
with patriotic Republicans of the
north in the effort to solve the prob
lens before the conference. Governor
Parker declared there was no founda-
ton for the reports which he had
heard that "this was a hand-picked,
cut-and-dried performance"
J. M. Anderson of the st. Paul, Mimi,
Equity COOPERATIVE Exchange, assert
ed that only through cooperation with
Europe in her efforts to recover, could
American economic difficulties be set
tied. "After having helped win the
war;" he said, 1--WE owe it to them to
help in winning peace"
Wants U. S. at Genoa Meet.
Mr.. Anderson said the United States
should be represented in the coming
international economic conference at
Genoa and should accept representation
on the PREPARATIONS commission. Re-
Mobilization of Germany is necessary
to restore Europe, he continued, "but
this will not be done until she knows
what she must pay"
He suggested enlargement of the fed
eral farm land bank system to allow it
to issue and sell debentures against
mortgages on elevators and to thus
provide new form of credit. Extern
sion of the credit by the government
to Europe of one or two billion dollars
to enable buying of agricultural prod
ucts also was advocated by Mr.. Ander-
son, who said the advantages to be
derived would reach American produ-
GERS and not be consumed in interme-
date agencies.
The speaker declared the government
should be petitioned to establish
minimum price on certain stable prod
ucts through the war finance corpora
tion or through the revival of the U. S.
grain corporation.
Open Export Market.
|. Governor Parker of Louisiana pro-
posed as means of combating the
present farm depression, the opening
of export markets through extension of
longtime credits to foreign buyers
through the federal reserve system.
"Have the federal reserve banks send
their own representatives to the Euro
pean nations sincerely desiring to pur-
chase our products and unable to pay
for them," he suggested. Look up the
standing and character of these pur-
chasers and their financial responsible
tiles. Sell them, not on very short time
as is customary, but on 6, IL and IS
months, taking their acceptances with
the endorsements of the local bank and
the cooperation Of the great banking
institutions of each nation"
He said this plan would afford al
most instant relief, would mean the
employment of many American ships
for carrying to those nations the cot
ton to give profitable employment and
the foodstuffs to keep many of them
from starving; would add to the value
and activity of the merchant marine,
put energy and spirit into business and
bring to tbs country the goodwill OF
all Of the older nations"
Robert McDougall, president of the
J Chicago Board Of Trade, who told Of