The Miller press. [volume] (Miller, S.D.) 190?-current, 1923-08-16
GOVT. APPROVES FARM BUREAU
PLAN FOR WHEAT STORAGE
Continued from page 81


probably sure revival Of wheat grow
ing in Russia and the Danubian
countries it behooves the American
wheat growers to take stock of the
situation and be guided in their plans
for next years crop.
Farm Granaries Are Available
1T is entirely within the Farmers
power to await a market with 200
million bushels or more of wheat.
There are around 2h million wheat
farmers and at least 40 per cent have
granaries. If each of one million
wheat farmers would store in their
farm bins only 200 bushels they would
then be able to market the balance in
an orderly manner. This awaiting a
consumptive market would act as a
stabiliZer and the wheat farmer then
would be able to get the best price
he market could afford.
THE warehouses, under the amend
d warehouse act, might be owned in
dividually or by a corporation. AS
already suggested warehouses or bins
on farms can be utilized, provided
they conform tC the requirements OF
he warehouse act. If an individual
| pal lIltl snip vi CUI DOI ALUM uColICS W
Engage in the public warehouse bust
less for the purpCe of storing wheat
Or other agricultural commodities it
an be lone rather easily. If farmers
If a community should desire to form
A corporate organization for the pur-
pose Of storing wheat on their farms
they can do so providing their stOr-
age bins are approved by a represen-
tative of the United States Depart
ment of Agriculture. When these
units are thus grouped they would
.perate as a public warehouse system
alter a certificate had been granted
by the department of agriculture. The
warehOuSemen then would issue re-
Ceipts which would be acceptable to
the local banker and which could be
discounted by him at any of the II
intermediate credit banks. The re-
ceiptS would shCw whether the wheat
had been graded or whether ii is mo
grade wheat. 1t would be inspected
at the time it was placed in bins on
farms and the warehouseman would
be responsible for delivery of the
wheat representing the certificate. 1t
would be very easy 20 make the ap-
DIONdl u IIfo III spectrum ny Tilt Ie-
partment Of Agriculture one of the
functions of the county agricultural
agent and where wheat is the major
crop and there would be too much of
this work Tor the county agent to do,
it would be a simple matter to ap-
point other officials who would hon
estly function in this capacity. The
warehouseman could be the president
or secretary of the county farm or
g~anization.
Money On Warehouse Receipts
"The reason for storing wheat in
bonded warehouses, of course, is be-
cause bankers will lend money more
readily on wheat thus housed. These
warehouse receipts which the ware
houseman will issue on the wheat
stored in his warehouse may be taken
to the local bankers and so to rs per
cent borrowed on the current value
of the wheat on farms in bins, in
elevators or at terminal points de-
pending upon where the wheat is
stored.
I'm selling wheat we must keep in
mind that a single wheat crop repre-
sents more than the selling price of
the wheat. 1t represents the invest
ment in land and equipment amount
ing to many times the value of the
crop. And besides, wheat growing
must continue year after year, except
possibly in those regions of marginal
production where admittedly the crop
is a gamble and not an economic
effort when viewed from the stand
point of the production of the bulk
of our wheat"