, 1922-01-26

find themselves at n disadvantage in
the marketing Of their productions,
especially raw milk, because of the
high costs of distribution, which they
must ultimately bear.
Now that the farmers are stirring,
thinking, and uniting ms never before
to eradicate these inequalities, they
are subjected to stern economic lee
lures, and are met with the accusation
that they are demanding, and are the
recipients Of, special privileges. Let
us see what privileges the government
has conferred IN the farmers. Much
has been made of Section 6 of the
Clayton Antitrust Act, which pur-
ported to permit them to combine with
immunity, under certain conditions.
Admitting that, nominally, this ex-
emptlOn was in the nature of a special
privilege though l think it was so in
appearance rather than In fact,-we
find that the courts have nulllfied 1t
by judicial Interpretation. Why should
not the farmers be permitted to ac-
compllsh by cooperative methods what
other businesses are already doing by
cooperation in the form of incorpora-
ton? If 1t be proper for men to form,
by fusion Of existing corporations or
otherwise, a corporation that controls
the entire production Of a commodity,
or a large part of 1t, why Is 1t not
proper for a group Of farmers to unite
for the marketing of their common
products, either in n or in several
selling agencies? Why should 1t be
right for a hundred thousand corporate
shareholders to direct % or 30 or 40
per cent of an industry, and wrong for
a hundred thousand cooperative
farmers to control a no larger proper
ton of the wheat crop, or cotton. or
any other product?
The Department of Agriculture Is
often spoken of as a special concession
to the farmers, but in its commercial
results, 1t is Of as much benefit to the
buyers and consumers of agricultural
products as to the producers, or even
more. l do not suppose that anyone
opposes the benefits that the farmers
derive from the educational and re-
search work of the department, or the
help that 1t gives them In working out
improved cultural methods and prac-
tees, in developing better yielding va
rieties through breeding and selection,
in introducing new varieties from re-
mote parts of the world and adapting
them to our climate and economic con
dition. and in devising practical meas
ures for the elimination or control OF
dangerous and destructive animal ana
plant diseases, insect pests, and the
ike. All these things manlfestly tend
to stimulate and enlarge production,
and their general beneficial effects are
obvious.
II is complained that, whereas the
law restricts Federal Reserve banks
to three months time for commercial
paper. the farmer Is allowed six
months on his notes. This is not a
special privilege, but merely such a
recognition OF business conditions as
makes II possible for country banks
10 do business with country people.
The crop farmer has only n turn
over a year, while the merchant n
manufacturer have many. Incidental
ly, / note that the Federal Reserve
Board has just authorized the Fed
eral Reserve banks TO discount export
paper for a period Of six months, to
conform to the nature of the bust
ness.
The Farm Loan banks are pointed
TO as an Instance of special govern
ment favor for farmers. Are they not
rather the outcome Of laudable efforts
10 eauallze rural and urban condi-
tlonsY And about all the government
does there is to help set up an adj
mlnistrative organization and lend IA
little credit at the start. Eventually
the farmers will provide all the capl-
tai and carry all the liabilities them
selves. 1t is true that Farm Loan
bonds are tax exempt but so are
bonds OF municipal light and traction
plants. and new housing Is TO be eX-
empt from taxation, In New York, for
ten years.
on the other hand, the farmer reads
OF plans for municipal housing prof
Gets that run into the billions. of hun
dreds Of millions annually spent on
the merchant marine; he reads that
the railways are being favored with
Increased rates and virtual guarantees
OF earnings by the government, with
the result to him of an Increased toll
on all that he sells aud all that he
buys. He hears Of many manifesta-
lions OF governmental concern for par
tlculnr Industries and Interests. Res
culng the railways from Insolvency Is
undoubtedly FOR the benefit Of the
country MS a whole. but what can be
OF more general benefit than encour-
agement OF ample production Of The
-.lnnLnul nnnnssn rios nf life and lhelr