, 1923-08-20
STATEMENT OE
bROOkHART ON
MARKET PAN|G
STARTS SUIT
Member Of Cabi-
net Is Plaintiff; Asks
Only Thirty Cents as
Compensation.

DIES MONIES, Iowa, Aug.
20. = Charges by Senator
Smith w. Brookhart of Iowa,
that E. T. Meridith, while
occupying the office of sec
rotary of agriculture "sat in
in the Wall Street game and helped
produce h greatest panic in farm
prices in the history of agriculture"
prompted Mr.. Meredith to instruct
his attorneys to file suit against the
senator for libel and damages of thir-
ty cents. Mr.. Meredith declared in n
statement to The Associated Press to-
day.
Senator Brookhart's charges, made
in an address ut Radcliffe, Iowa, last
Wednesday. Mr.. Meredith said 'in.
volved my integrity and honor and
was without basis in fact
But few people give any credencs
to Brookhart's statement Mr.. Meri-
dith declared. and while Tho damages
Of his statements might DO more. I
estimate his effectiveness at about
thirty cents. SO I have instructed my
attorneys to sue Mr.. Brookhart for
libel and damages in this amount
the rea compensation being In get
ting Mr.. Brookhart on record under
oath.
THE public win now have an op-
portunity to see how nearly he can
come to proving even one of his many
mouthings."
ut is futile to argue with q man
who IL SO careless with his statements
as Senator Brookhart." Mr.. Meredith
continued. recalling nat tho senator
a declared the slump in ~aEricultur-
al prices Ind cost tho farmers Of the
country thirty-two billion dollars, or
eight billions more than the whole
cost of the war.
1.-THE issue between Brookhart and
myself was whether tho American
farmers financial condition is worse
this year than last as Rrookhart
claims. I pointed out in a recent state
ment that tho grain farmer will re-
ceive five hundred million dollars
more for his grain this year than last
year in spite Of the slump in the price
of wheat, I note that he admits this
In his lost outhurst.
Since my statement was given out
the department OF agriculture has an
nounced the agricultural price incax
figures as OF August first. This index
figure includes all the principal farm
products and shown that the Amers
can farmer was 15h per sent better
off on August 1 han he was q year
ago and 25.2 per cent better Off than
two a & on August 1.
The Wa Finance Corporation fig-
ures show that the farmers OF Iowa.
whom Brookhart has fancied were
ruined long ago, borrowed approx
mately s24 600. 900 two years ago, and
that $4,000. 900 of hat principal sum
with interest. has already been repair.
In Nebraska, the farmers have al
ready repaid eleven-twelfths OF the
money they borrowed. and in Illinois
they have repaid four-fifths Of tbs
money they borrowed.
Can Brookhart convince n one.
in the a OF these facts. that the
farmer is ruined. when he has records
like this?
while there is still plenty If room
for Improvement in farm prices, and
this is said with a full understanding
of many unfavornple farm conditions,
these figures indicate that the farm
ers' condition is improving as l have
Claimed instead of steadily growing
worse.
. nm INN dlWhyb DSGn mis-
practices in his campaign attempts
to befog the issue between US. by
claiming that I sat in the wall street
game n helped produce the great
est panic in farm prices in tho his
tory OF agriculture
"He assails my integrity and honor
in an effort to mislead and prejudics
the farmers.
Ellis charges arc not only faiso
but libelous and I believe Il to b
n real service to show the public that
BroolShart makes many wild and ex.
%travagant statements without any
basis OF facts."'
In his Radcliffe address Senator
Brookhart declared Mr.. Meridith as
secretary of agriculture, wished that
the farmers be "defeatedf' that no
was in n position 10 aid agriculture
and to avert ~contraction OF the prics
of agricultural products. but that no
failed to do so.
"~Inrtead." said tho senator. he
sat in the Wal Street Game and help
ed produce the greatest panic in farm
prices In the history OF Agriculture
enator Brookhart further declared
that before the "~deflation" of the
farmers took place. "the Wall Street.
ers. the packers and the big fellows
generally except Henry Ford. were
laying in an ample supply of long
time credit 10 tide them over the de-
flation period"
Mr., Merdith n the publisher OF .
narm magazine. 4