The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1923-09-29

Revival OF Wartime Grain Cor.
poratIon Plan Widely Back
edother Points.
By WILLIAM K. HUTCHINSON.
international News Service.

By WILLIAM x. HUTCHINSON
international News Service.
Revival Of the United States
Grain Corporation with authority
to purchase 200,000.O0O bushels
OF wheat in the open market is
the plan most favored by the
Coolidge administration for the
relief Of the agriculture industry,
Il was learned today.
Probable Purchase Price.
The purchase price would be $1.5o
q bushel if the plan Is finally
adopted. Its supporters contend 1t
would bring immediate sterilization
to the wheat market and provide
immediate financial relief for
poverty-stricken agriculturalists.
Legal barriers however may pre-
vent revival Of the corporation, as 1t
existed during the war, In which
case q semi-governnent agency
would be created to purchase the
wheat with Federal funds.
1t is understood the Department
OF Justice now is studying the legal
aspects Of the plan with e. view OF
advising President Coolidge whether
he has sufficient emergency powers
to meet the situation.
Legislators and spokesman for
farm organizations have favored re-
vtval Of the grain corporation over
all other relief plans in recent con-
farences with the, President. Adyo-
Gates of this plan urged it upon
khe President as the most available
means of providing immediate 70.
def for stricken farmers. It would
have TO be followed by permanent
relief legislation in the next Con.
agress. The President IL expected to
announce his decision early next
month.
Outline Of Proposal.
Various steps in this relief plan,
80 outlined to international News
Service by Government officials
are as follows:
I. Revival Of the United States
Grain Corporation by presidential
proclamation to meet q national
emergency" among the farmers.
3. Authority conferred upon the
corporation By the sPreadent to
purchase 2O0.o00s0Do bushels OF
wheat ct $1.s0 q. buehel &c various
grain terminals throughout tho
country.
;. All wheat purchased to be held
IN storage by the corporation with
Q view to its disposition In Euro
pean markets next winter.
4. Purchases to stop when the
market price reaches $3.50 . bushel.
Iww 49, - - Na~
that only 10000, 900 to $4,000 900
purchased by the corporation before
stabilized. At $1.50 q bushel, the
maximum cost to the administra-
ton then would be $45, 900, 900 and
most Of this money, e 10 said.
would be recovered by selling the
wheat to Europe during the winter.
EurOpes Supply Low.
'.Europe's supply of wheat is low
despite reports of bumper crops, y
. government official told Interna.
tional News Services. 1.-THE 20
called bumper crops this year are
half the output Of pre-war years
and the people must eat. Every
report now received indicates
threatened food shortages in Eu.
rope this winter.
THE corporation can dispose OF
all the surplus wheat even IL the
sales must be made at a loss OF
by extension Of credit.
Last winter, Congress sent 90,
0O0, 900 bushels Of wheat to Russia
and il a famine occurs in Germany
or any other European country, II
VIII again extend the helping hand
OF humanitarfanism.
"If we sold the wheat at 81 9
bushel, the net loss would be about
SIS, 000, 900. slightly more than thu
amount subscribed for Japanese re
lief in the last few weeks
The plan, IL finally adopted, viii
be for an emergency period only
and Congress would be asked iT
December to provide a permanent
relief program. In this program
the question Of agriculture credits
will be determined with a possibl,
increase in tariffs on farm products
Authority will also be asked fol
permanent Government agencies Il
assist farmers in marketing theil