The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1922-10-25
SENATOR LADD
DEFENDS I! NEW v +.
TARIFF HERE
Senator Asserts the FOrdney'
McCumber Bill Has Been
Misrepresented
TALKS OF LEGISLATION
Gen. E. A. Williams Appears
On Same Platform and
Outlines His Views

Making his first speech in Bis
marck since he,became United States
Senator, Eff. Ladd last night out
lined his position on many matters
of national legislation, which have
been the, cause Of much discussion.
The Mandan band played before the
speech, which was delivered in the
city auditorium to crowded house.
William LANCER introduced Gen. E.
A. Williams who spoke briefly and
then Senator Ladd.
Considerable interest was mani
tested in Senator Ladd's remarks up
on the recent Fordney -McCumber
tariff. The senator declared "there
has been no act in Congress so much
misrepresented" as the tariff act. It
was natural, he said, that the Demo.
Gratis, should attack the tariff be-.
cause of their different party policy
on the tariff, but asserted that op-
position of the New York Herald,
Z Republican paper, and others in the
east were based upon the inability Of
large importers and big department
stores of New York to control the
tariff.
Denies Cost Boosting
Denying that the tariff would
boost living costs three or four bill
lions of dollars, as charged by op-
ponents, Senator Ladd asserted that
the Fordney-McCumbcr tariff the
first year will raise about $400,000,-
900 while the Underwood Democratic
tariff raised about S350,OO0,00O. He
asserted this was the first tariff in
which agriculture had received pro-
per protection. He said the duty or
sheep, on flax and other farm pro-
ducts should help the farmer. There
is no duty on farm machinery, lum-
ber or milling material, he said, tax
ing examples of alleged misreprc-
sentation. ,
Opening his speech Senator Ladd
declared the greatest question in the
country today is the stabilization Of
agriculture. The trouble with busi-
ness at this time, he said, it because
the purchasing power Of the farmer
has been taken away.
The farmer, he said, has more
money invested than the entire in
vestment in factories, in mines and
in railroads, that he is the greatest
purchasing power in the country and
when he cannot purchase factories
and mines must close down. The
farmer, he said, pays Sc percent oc
all freight rates, but he also pays
freight on the finished product and
the railroads have suffered because
the farmer has been unable to buy.
"And in the east they are begin
ming to realize this and to ask what
may be done to put agriculture back
on a sound basis,' he said. "The big
financiers are asking about it. And
when they do we can hope that somc-
thing can be done"
Costly Marketing System
He talked of marketing and praised
the cooperative marketing system Of
Denmark. He said that Ambassador
Earrick had declared the United
States has the most remarkable mar
keting system in the world-and the
most expensive. Under this system,
he said, 70 cents out Of each dollar
of the products of the farmer is
used to get the food to the, consumer
while 80 cents goes to the producer.
He said the system had advanced in
Denmark until they can market pro-
ducts in foreign. countries on 20
cents of the dollar and put 80 cents
in the hands Of the producer.
Speaking of . the deflation which
began in 1920 he attacked the meth
cd of the Federal Reserve Bank. He
said that when there was initiation
there was necessarily deflation, but
there was no need for it to be as ra-
pid and destructive as it was. The
five men controlling the Federal
Reserve Bank are bankers, he said,
and because they would not get the
viewpoint of the farmer the agricul-
tural bloc demanded that farmer
be put on the board. He said the law
governing the Bank of England pro-
vides that none of the governing
board shall be . banker.
He praised the War Finance Cor"
poration although he said the bill
creating it was not the bill that
Senator Norris of Nebraska started
out to create.
Senator Ladd spoke of the farm
bloc, stating it was a group Of sena-
tors determined to stand for agfl-
cultural legislation without respect
to party lines, although they divided
upon issues strictly Republican or
Democratic issues. He praised the
Nonpartisan league program in me
state and urged the election of Mr..
Frazier to the senate.
Speaking of his recent trip to Eur
ope, he declared opposition to can
celia on of the war debt of European
nations to America and said that the
cancellation was sought by. group
If international bankers in order to
better their foreign securities.
Gen. Williams Speaks
General E. A. Williams candidate
for the legislature, speaking before
senator Ladd, explained that he was
in an unusual situation.
II am neither an I. V. A. or Non
nartisan," he said 81 am Repue-
lican. and I am proud Of the his
toric record of the party. have been
unable to agree with either OF then'
but there is one man III never go
back on, and that is the struggling
farmer on the prairies.
"On the one hand is the |. V. A.
l find men whom know from long
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