The Washington herald., 1922-12-16
Inadequate Transportation Is
Worse Than Lack Of Credit,
Council Told by Secretary
URGES RELIEF FOR ROADS
Senator capper Defends Aims
Of Agricultural Bloc Before
Conference on Marketing
By JOHN GOLDSTROM.
Universal Service.

"The American farmer is suf-
fering more acutely from made
quate transportation than from
lack Of credit, and the railroads
must be aided and encouraged
before relief can come to the far
mer."
Secretary of Commerce Hoover
declared this today before the Ma
tional Council of Farmers Coop
erative Marketing Associations. He
asserted that car shortage is the
fundamental difficulty of the farm
er, depressing his prices by de-
ranging his marketing facilities.
BUYING POWER REDUCED.
The buying power of the farmer
now Is less than II was in 1913"
he said, "and therefore he has a
right to complain. and it is nat
ural that he should ask relief.
Il believe il to be the sentiment
and understanding of the entire
country that the farmer should re-
cetve relief. II is the car shortage
which. by Gripping his marketing
facilities. results in depressed prices
for farm products, and so before
the farmer can feel relief the rail-
roads must be encouraged that they
may expand their facilities and
equipment"
Secretary Hoover reiterated the
plea he made in his annual report
for reduced freight rates on farm
products.
Senator Capper. of Kansas. said
that the aims and purposes of the
Senate farm bloc had been misun
derstood-that all il wanted was "a
square deal for the producers of the
country"
The present Congress he said,
has passed more legislation bene-
htfng the farmers than any three
other Congresses of the past. The
big thing now before us is the agri-
cultural credit bill"
ENDORSES COOPERATIVE IDEA
Senator Capper said that the CO.
operative marketing idea offers
more encouragement to the farmer
IN his effors to recover financially
than does any other agency.
Adolph c Miller. member of the
Federal r srve Board. said that
the beard was strongly sympa-
thetic to the cooperative marketing
idea and afforded facilities for credit
which the cooperative associations
had not sufficiently utilized.
Mr.. Miller. deprecating the old
system OF marketing farm products,
said:
"Inasmuch as agricultural prod
ucts should not be dumped upon
the market as soon as harvested,
but should be markell gradually,
the carrying of agricultural prod
ucts by the growers for such pe-
riods as are reasonably necessary.
In order to assist orderly market
ing. is a proper step in the process
Of distribution.
NOTE MAY BE RE-DISCOUNTED
A farmers own note which is
drawn, or the proceeds of which
are used. to finance the CARRYING of
the farmers products for such rea-
sonable period. is a note which has
been issued or drawn for an agri-
cultural purpose and may. there
fore, be rediscounted by Federal
Reserve banks with a maturity up
TO six months"
Eugene Meyer. jr.. managing di.
rector Of the War Finance Corpora
ton. told how loans by the corpo-
ration to marketing orga nizations
had helped to stabilize prices. He
advised against speculative holding
Of products. and urged that the
$40 banks, mostly rural. which
are not now in the Federal Re-
serve system. be brought into II to
facilitate farm credits