The Birmingham age-herald., 1923-09-30
By FRANK W. MONDELL Director War Finance Corporation. Lensed Wire To The Age-Hernld)


 WASHINGTON, Sept. 29.-In the northwest as whole I found that crops had been in the main excellent. That does not apply to some sections where the crops have been rather light. But In other sections. such as the Pacific northwest, the wheat crop is excellent.
 ditions are generally quite satisfac- tory and prices are fair with an up- ward tendency. Wheat growers have had hard time of 1t under present costs of production particularly where the crop was heavy.
 Live Stock Hard Hit.
 The live stock industry of the west and northwest was very hard hit. by bad seasons and the tremendous slump in prices and it will be some time before they recover from the blow. Sheep growers, however, have had the benefit of very good prices for wool and lambs, Their situation is much improved and hopeful. Cattle growers on the other hand, are confronted with market conditions which leave them very little profit on the basis Of present costs.
 Take it all in all. conditions are improving and the people are much more hopeful. though the return to the farmer on his investment and efforts is very much less than that of workers in many lines.
 Credit conditions among the farm CTS and stockmen have improved and are improving. Country banks throughout the middle west and the far west are still carrying load of frozen credits which makes it inn possible for them to meet all of the fn
 But the war finance corporation is still extending it's aid. a is the fed eral reserve system, and to limited extent, the new intermediate credit banks are meeting the situation quite satisfactorily In the larger cen ters banks seem to be in a position to extend credits as they are needed. They with the intermediate credit banks. are providing the needed funds for the larger and organized agri- tural activities particularly those Of the cooperative associations Mean while the war finance corporation stands ready to render assistance with it's authority where needed No Action Appropriate.
 Regarding suggestions for further aid 1 do not have in mind any action that could be taken by Congress that would be os real and permanent bene- fit to agriculture. Any attempt to
  accomplishing results and in the long run would bring disaster. Fortu- nately there seems to be an improV- ing price level and a strengthening i'm the wheat and cattle markets with the probability of some consid- erahle Improvement in both lines. + conditions of general prosperity con rinue as expected they will do ln- flnitely more for the farmer than can be accomplished in any other way and the very general disposition in farm ing communities to reduce the cost a s far as possible and to diversity oper- at;ons is bound to have heiptul effect
 The orderly marketing of farm products through cooperative asso- citations is one of the most beneflclal aids that can be employed. Freight rates should be as low as is con sistent with fair returns to the car rier.
 assume the interstate commerce commission is keeping track of the situation and would order reduction if ii felt justified. Whether the rall- roads would be justified in making, reduction on one commodity by max ing up the loss on others is a ques- ton. 4 lower rate for wheat undoubt- edlv would be followed by demand for A lower rate on live stock ana nerhsps on other articles.