The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1923-08-03

the northwest. cooperative marketing
is not ready TO meet the present wheat
crises.
Fortunately we have ready a. hand
the machinery which. ii permitted TO
function. will enable our farmers 10
store their whea, and hold 1t orderly
for distribution. We refer to the new
intermediate Farm Credit. provided
by the last session OF Congress At the
insisience OF the Farm Bureau and the
Farm Bloc. to be used in conjunction
with :he amended L. :. Warehouse
Act
Under the warehouse law the Sec
rotary OF Agriculture may rule II he
sees III tina, a proper farm storehouse
a wheat ganey in this case. be desig-
mated as a l.. ). bonded warehouse.
The Department OF Agriculture. coop
Grating with the Colleges OF Agricui-
,ure and the Farm Bureaus. has a rep
resentative in every county. He Is
known as the county agricultural
agent or farm advisor The county
agent or some other official represen-
taiive OF the Department OF Agricul-
ture may properly be delegated to the
task OF inspecting warehouses on the
farm and OF designating those TIT to
store grain as bonded warehouses. The
farmer may then put his wheat IN
bonded bin on his own farm. lock IT.
and deliver the key to the official ware
houseman. and give the farmer law
ful bonded warehouse receipt Tor his
| grain. These farm warehouses. to-
gether with the terminal and line ware
houses. have sufficient capacity 10
store the crop.
rs there any better security Tor
borrowed money than wheat in the
bins The soundness OF this par'ieu-
lar collateral is proverbial
Under the intermediate Credits
Law. II intermediate credit banks arc
set up in conjunction with the Il Fed
eral Land Banks, at Springfield. Mass.
Baltimore, Md. Columbus. ). L
Louisville. KY. New Orleans, La. ST
Louis Mo, St. Paul, Mimi. Omaha
Neb. Wichita, Kans.. Houston, Tex.
Berkeley, Calf, and Spokane, Wash.
The United States treasury is author
lied to advance to each OF these bank;
capital OF S5,00O,000 or a total o
| S60.00O.000. Each OF the intermediate
Credit banks is authorized 10 loan Il
farmers on proper security, such a
bonded warehouse receipts, total o
10 times its capital or SoOoOD,oO
This money is obtained through tn
sale of debentures, which are tax fre'
and which have back OF them TN
wheat in bonded bins. This provide'
total OF S6oO,OO0,O0O to enable tn
farmer to remove any farm surpiuSe
as they develope as price breaking Ia
tors and feed them gradually r'o IN
market. Assume that 2OO,OOO.oo
bushels OF wheat were stored and I'm
anced OH farms in this wsv. Suppos
the farmer borrowed the legal linn
as prescribed by law OF the marke
price OF his bonded wheat to carry o
his business. This would require nc
more than Sl50,OO0OOO. The money
available, the law is on the siatu'
books. and the plan is capable OF meet
ing the present situation. All we nee
is the proper regulations from the dc
partment OF Agricultural and the rec
eral Farm Loan Board, and IN
prompt administration OF the Inter
mediate Credit and Warehouse Act
Now, therefore the America
Farm Bureau Federation calls upon
banks farm organizations, cooperi
tive marketing organizations, and II
dividual farmers TO make iull and ire
use OF the intermediate Credit Act
as 70 prevent the dumping OF II
wheat crop and to retain ITS contr'
in the hands OF the grower himse
rather than in the hands OF the spe'
ulator.
"The American Farm Bureau rec
Grafton urges the Secretary OF Asr
culture under the powers conferred
on him by the amended Warehou
act to designate proper warehouses
the farms as government bonded wa
houses and to set up machinery
once to provide proper inspection al
warehouse administration. The y.
Warehouse act and the correspona'i
state warehouse laws should be u.s.
by the commodity organizations al
individual farmers to the end that 81
age OF the wheat crop may be ma
under grower control, either on 1
farms in the country elevators. or
terminal warehouses.
E.r,,, Rureatf II