Evening star., 1922-02-19
BY EDWARD NELSON DlNGLEY.

BY EDWARD NELSON DANuAChs
TIME recent national agricultu.
raj conference adopted q set
of resolutions containing six
- leading recommendations. The
fifth was that Congress take UP the
immediate study of the question Of
whether there shouls be a govern
mental price guaranty on farm prod
ucts. as on wheat during the war. so
that farmers might be insured against
loss" A more radical minority pro-
gram, drawn up by about forty of the
delegates, contained nine emphatic
demands, of which the second was
"stabilization of prices on wheat.
corn, cotton and WOOL" Another de-
mand of the conference was that
Congress authorize credits for the
financing Of exports to Europe, the
idea being that this would help sta
bilize the prices Of farm products.
The purpose Of this article is to
show the average reader what the
stabilizing or fixing Of prices Of GER
tain farm products means and in.
wolves, and what is the background
of this movement on the part of the
farmers and their representatives.
X \ X
The recent census Chat of 1920)
shows that the total value of all farm
property in the United States is $T,-
925, ,9S9, ,000-four times the value Of
all the railroads of the country. The
farm buildings are valued at $780,
ss5, 900, the Implements and machin-
ery at s3,595,317, 900 and the live stock
at 1896, 1862 900. This shows the ex-
tent and Importance of the business
Of farming.
Despite all rules to the contrary.
the government fixed the price of
wheat and sugar during the world
war. The Grain Corporation and the
sugar equalization board functioned,
bought wheat and sugar and fixed
prices. The justification was war.
Since 1919 the farmers have seen
the prices Of all farm products. de-
cline far more rapidly in proportion
than the prices of other products.
Reports from farming districts in the
west and south brought stories of
hardships, even bankruptcy. Some
said the cause was too rapid defation
of currency or credit. Others said 1t
was the loss of European markets.
In reply to the first, the Federal Re-
serve Board showed that during 1920
the loans on farm products and live
stock amounted to nearly $2,000,000,-
600. the largest on record, and that
the War Finance be-
tween January I, 1921, and January
/, 1922, had advanced over $4,000.
600 to the farmers to take care Of
cotton, grain, tobacco and meat prod
ucts OF this amount $38,000, 900 was
advanced between August "a. 1921,
and january 1, 1922. In reply to the
second. it was pointed out that dur
ing 1921 the exports of farm prod
nets amounted to $1.500,000,00 in
value. vastly more than the value In
1920. and that exports OF wheat In
1921 were eight times In volume the.
exports Of wheat in 1914. 4,
X 4
willing to assist in every way pos
sible, Congress took hold Of the ex-
mort and foreign market end Of the
problem. The Webb-Pomerene law
was enacted, permitting combinations
Of farmers for exporting grain. This
was followed by the Edge law per-
: fmdttins the creation Of corporations
to assist in promoting exports.
Neither seemed to bring the results
desired, wholly. Prices Of farm prod
ucts declined until the call OF loans.
it was claimed, forced the farmers to
part with their grain and produce
for less than the. cost OF productton.
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