The Omaha morning bee. [volume] (Omaha [Neb.]) 1922-1927, 1923-10-25
Farm Aid
in Hands of
w all Street
Omaha Man Declares Eastern
Financial Interests Mis-
). led Coolidge on
Agriculture.
East Wants Low Prices

That efforts of the government to
help the farmer have fallen into the
wrong hands, being directed by east
erners who are not familiar with the
needs of the west, was the declara-
tion of Joy NJ. Hacker of the Cpdike
Grain corporation, last night.
1T would have been more reason
able to send a middle western farmer
or grain man to Pennsylvania to
Settle their anthracite coal strike be-
cause the middlewest is very much
interested in the price of COAL" he
asserted. "Or why not senC as
emissaries to Wall street some of our
middle western farmers to teach them
the art of extracting great sums OF
- peoples money in manipulation
Fbf stocks and bonds?'
This would look absurd because
our people are not trained in that
line of business. Then, why is it not
equally absurd to expect Wall street
operators to come out to the middle
west and tell us how we should
handle and market our grain?
Represent Eastern Interests.
Eugene Meyer, jr., director or the
War Finance corporation, who is
travelling over the country. is not
primarily interested in the wheat
farmer. but is influenced by the de.
sires and wishes of eastern financlers
Mr.. Hacker said.
"Mr Meyers statement in Helena,
that men interested in grain market
ing had never made any effort 10
aid producers comes from one VINO
has for years been closely associated
with copper and Wall street financial
kings" said Mr.. Hacker. 1T 10 i'm
possible for me to refrain from In
ouiring what this crowd of gentlemen
has ever done toward assisting the
middle western farmer.
..If they have ever produced any
foodstuff, or assisted in anyway III
doing so. on have ever demonstrated
anv constructive interest In market
ing the farmers products, our people
of she middlewest would be pleased
nave it identified.
At Work Now TO Help.
I am nst attempting to defena
ALI Grain dealers in the United States
/
are honest, upright men serving
very useful and necessary part In dis-
tribution of our great grain crops.
certainly believe their business con-
duct and methods would compare IA
vorably with the Wall street crowd.
.erhe vast majority of grain deal
ers in the middle west have been
working faithfully to assist the wheat
farmer in his present depressed con.
dition
1T was grain men who proposed
q 25 per cent freight rate reductioh
on wheat for export.
1T was grain men who originated
the campaign to buy flour and wheat.
ut is grain men who have been
the strongest advocates of an In
creased tariff duty to prevent Cana,
dian grain crossing our borders. In
less such a duty is sanctioned at
Washington it means millions OF
bushels of Canadian wheat will flood
our country and enlarge our surplus
of wheat which means a correspond
ing decrease ain price to the wheat
farmer.
Ala Tor Oerfi1dn! Is hey.
a great majority Of grain men
favor the plan Of having the War FL
nance corporation finance Germany,
and perhaps other countries, for d
three-year period on wheat this coun.
10y may sell them.
D~1l Of this will doubtless advance
the price of wheat.
However if Mr.. Meyer. Barney
Baruch and other Wall street poll
ticians. are permitted to throw dust
In our eyes by their ingenious talk
and proposal of gigantic co-opera.
tive marketing scheme. to be effect
i've some time after the wheat pro.
ducers are down and out, / mistake
the temper OF the people of the mid.
dlewest.
:" What constructive measure for
Immediate relief Of the wheat farmer
has Mr.. Meyer or Mr. Baruch of.
Tered?
do they favor any of the forego-
ing plans?
'Has not Mr.. Meyer opposed the
wheat sales to Germany and other
otNdHldltu lbItlEU tDu1lfitf.
Mislead President Coolidge.
"Presidedf Coolidge would do well
TO divest himself of Wall street CON
nections In rendering assistance to
wheat farmers Wall street is 80 far
removed from our problems by
thought and action It Is utterly abb
surd to expect constructive action
from that source.
"'The eastern man. under tutelage
of Wall street. Is usually a bear on
grain. lie sells It short, and in 80
doing finds II beneficial to depress
the market for the western farmer
most OF them not realizing an ad
vance of 30 or Is cents a bushel on
the price of wheat would not increase
cost of bread to the consumer. They
are the last people In this country
/ to look TO for assistance for the
CIV, n,as,ewe,. Chance.
''Their wellknown plan OF send
Ing out propaganda to induce the out
side public TO buy stocks and get
them mp to point where they can
be sold by the inside boys of Wal
street, who know that the stock even
tually will have to come down. Il