New-York tribune., 1922-01-25
Plan to Smash
Farm BlOcIaid
To Conference
Harding Speech Proves 1t,
Saws I. s. Wannamaker i'm
Attack on Leaders at Ma.
tional Agricultural Meet
Commodity Financing Up
Armour Aids in Problems:
Resolution Drawn to Back
st. Lawrence Canal Idea

WASHINGTON, Jan. o4.-Tnc Ma
aonal Agricultural Conference, which
irened here yesterday VITA an address
- President Harding. got down to
'ork on details to-day when TIE com
:ittees held the r first meetings. 1T
re open morning session Eugene Meyer
=. managing director Of the War III
,snee Corporation; G. +. Warren, oe
ithaca. \. y, who has just completed
study OF European conditions; Wes-
,ad Herbert u rick, OF Springfield,
Mass. editor OF Farm and Home"
we're speakers. Another open session
IS TO be held tomorrow morning.
Some signs OF differences in tho con.
lefeacc appeared after the defeat to-
isy Of motion by J. s. Wanaamaker,
y South Carolina. for appointment os
committee on resolu.iong. This mo-
':on was defeated on the ground that
she c7nr1ittees ready appointed were
expected TO consider resolutions
hr. "annan naker, In a formal state
uent later, attacked the conference ard
declared that about all the farmers
lnd farm leaders have to do in this
conference is % shake hands with the
Pres dent, meet sorae official digni-
,CAe and then 20 home
Sees Attack on Farm Bloc
Ge was confident" lie continued,
that 1t was the purpose os those re-
sponsible io- the conference to destroy
the farm bloc"
The Presidents address in opening
i.e conference" he continued, "indi-
Gated very clearly that such was tie
purpose"
The committees in organizing to-day
provided in many cases for distr;but-
Ing the subjects before them to sub
committees
Probably oao Question in which the
leicgatcs are IS . whole interested is
tfst of commodity financing. One me.a-
ucr OF the committee on agricultural
croai- and insurance, which has this
ssbiect under consideration, suggested
taat 4 plan probably could be worked
ouV to provide for commodity loans
slnning from six months to three
years. His proposition would provide
sor the warehousing. grading and in
splctio1 o. commodities, Endorsement
= commodity paper presented by farm
ers by their ioca! banks and The hand
ing O. this paper through the Federal
Farm Loan Bank system, which would
reserve system or issue Gebenturcs
against the loans - the form Of GER
s'fcates &c Indebtedness, 70 be sold On
lhe opor market
The committee hiss at its disposal the
report o. the joint Congressional agvi
tL.eusei inquiry commission, recora
ending un intermediate form os
credits, winch would give the agric,,!-
.-ral producers working capital.
Plan Double Discounts
livestock producers under one plan
cuder consideration would have thei-
paper discounted By the local banks
and rediscourted by the farm loan
banks through the Federal Reserve Sys-
tenn. On other comlnodities ouo pla,
fFould tave loans made direct 70 Farm
rs trough CO operative loan ssaocla-
tors. thc commodities being covered
hy wsSehouSe Teceipte.
7 OGDEN Armour. Chicago packer
'ae. with the Committee on Agricul-
e1ral Research and Education. Theis
se1ort jt was indicated probably would
20 ut olt that while further research h
along all lines is reeded. special stsen-
+.on should be directed along econorlic
.res.
Prooosas a.seacy pus forward n tiie
conference % inoorse Nenry Words
oEes for Musole Shoals and coupl Ell G. :,
ci the st. Lawrence -Great Lakes water
V.aN project are expected TO be con-
eidered b. q SUB committee q TIE
-2.spC pCrtatioA Committee