Cottonwood chronicle. [volume] (Cottonwood, Idaho) 1917-current, 1923-02-23

chasing wheat on May l., 1920,
the English Government contin-
ued its bonus to the farmers Of
Great Britain for the crop of
1921, two years after the United
States Grain Corporation ceased
operations in this country.
Australia also continued her
guaranty on farm products until
December 81, 1921.
A witness for labor organiza~
tons appeared before the COM
mittee and testified that he was
there to represent labor organi-
cations, and that the laboring
men of this country were in fav-
OF of this measure, and that they
wanted to see the farmers Of the
country treated fairly, and were
satisfied that they had not re-
ceived a fair price in the last
three years for many of the
agricultural products.
The committees attention was
called to the fact that with
great care Congress gave to the
railroads a guaranty for six
months after the railroads were
turned back to the owner equal
to the amount earned during the
test period of three years previ-
Gus to Federal control, and that
two years after the Esch-Cum-
minis bill was passed the commits
sion was forced to fix rates that
would earn the railroads 5% per
cent and one-half of 4 per cent
for betterment, with a privilege
of earning 6 per cent and the
right to retain a half of any
amount earned above 6 per cent.
The committee understands
that on May l, 1922, the Inter
state Commerce Commission
continued the provisions of the
Esch Cummins Act and 5 3-4
per cent was the rate fixed fol
the railroads to earn on a valua-
ton of $18, 900, 900, 900.
The committee was reminded
that the Government had moi
only stabilized the price of rail.
road labor and railroad rates
but that the Pittman Act, stab.
liking the price of silver at S.
an ounce, was passed on Apri
%, 1918. Under that act tbs
Government must still purchase
46, 900 ounces of domestic
silver, which is estimated to bt
a full years production of the
silver mines of the United State.
so the Pittman Act will continue
in force and stabilize the price
of silver at 81 an ounce unit
some time in 1924.
The committee was reminded
that the Senate is now consider
ing a bill for the substituting O.
our merchant marine.
Facts were submitted showing
that every year this Government
is forced to pay out of tn
Treasury $72,000,0 900 more thai
it receives for carrying second
class mail. 1t was stated tina
the Government pays $4,000,
every week for carrying the Sat
urday Evening Post through tn
mail, and that it costs the Gov
eminent $7,800,000 more an
nually to distribute that maya
zine to its readers than the own
ers pay to the Government TO
its transportation.
The attention of the commit
tee was also called to the fac
that Congress has just appropri
ated $56,00O,000 for rivers an
harbors.
The committee was also re
minded that at the present tim
the Government is furnishin,
money to member banks of tn
Federal reserve at a discount O
Az per cent, which in turn i
loaned to the farmers at an in
terest of IL per cent.
The committee believes tina
the condition of agriculture to
day, and especially the whea
growers, is the result of the in
creased cost of production, o
labor and freight rates, TO
which the Government is entire
ly responsible, and that thi
should be considered an emer
gency matter, a condition tina
war alone is responsible for, an
that it is to the best interest O
the Government for at leas
three years to stabilize the pric
of wheat.
The Agricultural Committe
believes that the best interest
of the country will be served b.