The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1923-11-16
Farm Bureau Head Defends Scheme Put Millions Into
Pockets of Bankers and Spectators Who Now Hold
Bulk of Wheat.
Coolidge Who Refused Extra
Session of Congress for
Real Act, Thinks Gift
Would Have Good Political
Effect.
White House Afraid of
Congressional Discussion
ny LAIJRENCE TODD

BY LAURENCE TODD
Federated Press Staff Correspondent
WASHINGTON - Hesitant de-
Tense of the proposed 100000
bushel Wheat loan to Germany
as advocated by Secretary Wal
lace and grain brokers in confer
ence with President Coolidge, was
made by President Bradfute, Am
erican Farm Bureau Federation,
while Senator Frazier, spOl1es-
man for North Dakota wheat
growers, sharply attacked it.
Bradfute speaks for the prO-rail--
road group of farm organizations,
which have likewise stood by the
Chicago packers. the coal Oper-
atOrs and various other business
groups as against the progress
sive farm and labor element.
ANOTHER SWINDLE
Press disclosures that the heads Of
the Armour Grain Co. and the Min
neapOlis chamber of commerce had
gone with Wallace to the white house
with their proposal that the admin
istratiOn put government credit be-
hind a wheat loan to starving Ger
many aroused a storm of criticism
among the farmer and labor represen-
tatives at the capital. Frazier chal-
lenged the grain spectators to tell
Coolidge what part of the wheat crop
now remains in the hands of the
farmers; he was certain that most of
1T was already in the possession of
the grain gamblers, who had taken it
at a low price forced by the country
bankers demands for payment Of
loans by the farmers. He said the
gamblers now proposed to have the
war finance corporation, which is the
government, enable them to make a
rich haul in the export market. And
as usual they would claim that they
were doing a noble deed-an act of
international charity.
GERMAN AMBASSADORS PLAN
Bradfute declared for the plan
which he said was being negotiated
by the German ambassador, DIR. Weld
feldt, finance director of the Krupp
concern, with the white house. If
farmers had disregarded his advice
and sold their wheat at low figures
recently prevailing he could not help
that fact.
NORRIS CONSULTS FRAZIER
Senator Norris, chairman, senate
committee on agriculture. whose farm
export credit bill was killed by the
administration in the last congress, is
returning here to consult Frazier and
others on the revival of the Norris
Sinclair bill.
MOCKERY SAYS MARCH
ut is a deliberate mOckery of the
grain farmers" said BENZ. c. Marsh,
managing director, Farmers Natl.
council. after MIR. Coolidge refused
the farmers demand for an immediate
extra session of congress to take up
and enact the Sinclair bill,
which would have given the farmers
the benefit of export credits, he now
considers giving export credit which
will first of all assist the grain specu-
latorS.
FAVOR GIFT BUT FOR CONGRESS
1t appears that financial advisers of
Mr. Coolidge have doubted the value
of the German securities offered in
return for the loan, and that an out
right gift of the grain has been con-
Sidered as a substitute likely to have
a better political effect in this cOun-
try. But any such gift would have
to come from congress, and there the
progressive bloc in house and senate
would have a chance to discuss the
mismanagement Of the farm crisis on
the part of the administration. The
white house is desperately anxious to
avoid such a discussion.