The Washington times., 1923-08-01
PRICE Of WHEAT
To Be KEPT Up
WARMERS
Growers Plan to Store 2OO,.
100000 Bushels in Own
Bins-Seek u. s. Loans.
By DOUGLAS G. TINSLEY,
International News Service.

international News Service.
CHICAGO, Aug. 1.-Overwhelmed
by the downward plunge of wheat
prices to below the dollar mark in
the last few weeks, the American
wheat grower plans to strike back
at the forces of adversely and seek
prevention of a recurrence.
This safeguard, they believe, hes
in preventing future Cutting Of the
market due to reproduction and
the untimely throwing of enormous
quantities of grain on the market.
This they hope to achieve by with
drawal Of approximately 20O,OOO.OOO
bushels of surplus wheat from the
market and storing 1t on farms,
according to announcement OF the
American Farm Bureau Federation
here.
Would Use Farm Storage.
According to officials Of the bu-
reau the project will involve $780,
900 900. This plan will be financed
under the new intermediate Credits
Act, through which $3.50, 100000 is
made available to the farmers OF the
country.
The storage-on.farm plan of the
Federation will be advanced
through it's forty.six- State farm
bureaus, 1000 county farm bureaus,
30, 900 township units and 10000
members in cooperation with the
commodity marketing associations
and the country banks. The money
Is to be loaned at 51a per cent in
terest.
Through this method, according
to o. e. Bradfute, an official OF the
Farm Bureau, the wheat grower
mediate credit system UP to three
fourths of the market value OF his
wheat, with the warehouse recelpV
as collateral.
Wheat selling below 81 bushel
Ia a national tragedy in America, y"
Bradfute said 1T is a tragedy not
only to the farmer who grows the
wheat at a loss, but also to the
consumer-the business man and
the laborer-who must ultimately
depend on the farmers wheat dol
lar for their CONTINUED prosperity
and happiness.
Favor Cooperative Marketing.
"The American Farm Bureau
Federation believes that co-opera-
tive marketing Is the ultimate solu-
ton to. the national wheat price
problem. We are now at work on
q national cooperative grain mar
keting policy, being formulated
upon instructions from our mem
bers.
Under this plan the growers on
the nation will. in effect, place their
t. to- hfWn Nd
merchandise 1t in orderly ways over
the consumptive period instead Of
dumping it on an already overloaded
market during the four months fol-
lowing harvest.
cooperative marketing of wheat
will unquestionably solve the price
problem to the benefit of both pro-
Queer and consumer. But except
In a few sections, the Southwest and
the Northwest, cooperative market
ing is not ready to meet the present
wheat crisis.
Fortunately we have ready at
hand the machinery, which if per-
mitted to function. will enable our
farmers to store their wheat and
hold it for orderly distribution. We
refer to the new intermediate Farm
Credit provided by the last session
of Congress.
Government Sanction Needed.
Under the warehouse law, the
Secretary of Agriculture may rule,
II he sees fit, that a proper farm
storehouse, a wheat granary in this
case, be designated as a U. s.
bonded warehouse.
1.-The farmer may then put his
wheat in a bonded bin on his own
farm, lock it and deliver the key
to the official warehouseman and
receive a lawful bonded warehouse
receipts for his grain.
1.-THE Federation believes that
such action on the part Of the
organized farmers of the nation will
demonstrate that there IL nothing
in the wheat situation on the supply
side of the market which can JUS
tify the present disastrous price.
Output of wheat in the United
States has increased since before
the war at the same rate as popu-
lation. World SURPRISES for the
postwar years average only T,000.-
900 bushels more than for the aver
age Of five pre-war years.
European wheat importing coun-
tries are producing at least 200 ,000,-
900 bushels less than before the
war.
I'm both Europe and the United
States there has been a decline In
the per capita consumption. This
emphasizes the necessity for Ameri-
can agriculture to press to a con-
clusion a program Of orderly mar
keting over the crop year. Orderly
marketing instead Of dumping can