The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1922-12-22
FARMERS IN CONGRESS


Gray Silver, Washington representa-
tive of the American Farm Bureau,
told the senate committee that 1t was
his opinion that a rural credits sys-
TEN would operate to best advantage II
in the control of an intermediate cred
its board At the same time, Mr.. Sill
yer presented resolution adopted by
the farmers relating to rural credits at
the recent convention in Chicago.
At this time several bills are before
the committee on banking and cur
rency. the three most important and
inow in the limelight being the Norris,
Lenroot and Capper measures. The
opinion in Washington is to the effect
| that the Norris bill has no chance
whatever of passage. The wheat
growers of the northwest are the chief
advocates of the Norris bill, believing
/ that if they can get the government
| to handle wheat, both at home and
I abroad, higher prices would result
Here is what Senator Norris proposes
in his bill:
| To create a government corporation
with $100,000,000 capital. To empower
that corporation to build, buy, lease
| and operate elevators and storage
warehouses.
To buy and sell agricultural prod
ucts including their sale to foreign
countries.
To act as agent of agricultural prod
ucts.
To make advances to assist in finan-
cling the sale of farm products of any
nature.
This bill would put the government
in business all right, but we have no
idea that either the farmers as class,
or the country as whole, would en-
dorse any such measure.
The Lenroot Bill
The Lenroot bill, which is consid-
cred an administration measure. Gre
ates farm credits department in each
of the twelve farm loan banks, with
power to discount paper with maturi-
ties of from six months to three years,
thus providing credits of a type not
now available The government is to
advance these banks S60,000,000 and
the banks may sell bonds in any
amount up to ten times their capital
if so much money should be needed
From the present drift it appears
likely that the acceptable features of
the Lenroot and Capper bills will fin.
ally be combined in one measure.
One provision of the Capper bill
would put Uncle Sam in the chattel
mortgage business. 1t provides for
loans on cattle being fed for market
the paper to mature in nine months
also loans on dairy or breeding herds
with maturities not exceeding three
years. Mr.. Capper would encourage
privately financed agricultural credit
corporations under the supervision OF
the comptroller of the currency.
/ Live Stock Co-operatives
John G. Brown, late Indiana farm
bureau president and now the head oil
the National Producers, tells of the
reasons back of the formation of the
various sales associations at market
centers. He says that it was found
that one-half the live stock was being
produced in less than carload lots, and
that the farmer was at the mercy OF
the country buyer or speculator, this
resulting in farmers grouping togeth
er to ship their stock comparatively
They found the old line commission
firms opposed to this practice anC
quickly discovered that their purpose
was doomed to defeat, unless they hat
their own selling agencies in the pub
lie stock yards.
Before we could successfully oper
ate, because of unfair practices, We
found it necessary to have Legislation
preventing them, and through the farm
, bureau and various farm and liv'
stock organizations we finally succeed
ed in getting needed legislation, no
altogether what we wanted, but ;
splendid start"
, December wheat Is averaging 2
cents and the May option II cents owe
the prices ruling last year at this time
! Rye is up II cents compared with
; year ago, while corn is fully IS to 8
! cents higher than on this date in 1921
and oats are up to II cents bushel
compared with last year. German
bought 100000 bushels of Canadia
wheat this week and considerabl
American rye.
5 Following its usual custom the Oh
n cago Board of Trade will distribut
! Christmas cash to all employees, tn
v amount this year being set at $2,S44.
: Use of Fertilizer
4 Prof Blair says that the amount c
|, fertilizer used per acre of improve
> land in New Jersey in 1890 was bU
q 0pounds which had risen to %
If pounds in 1920 with gradual gain
It the past two years. The conc1usio
e is that New Jersey farmers and ga
% deners have found it profitable to us
]" fertilizer more freely.
e And he says, too, that it is we
Re known fact that in communities wher
It fertilizers have been literally but j
d diciously used, I'VE find well-keI
r farm houses with good buildings. goo
1t roads and a fine community spiri
s. Belgium, Holland Germany and En-
land long ago realized the great valu