The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1923-10-31
FRAZIER SEE
WHEAT SALE
SCHEME
Charges Bankers and Specu-
Iators Plan to Unload Surplus
Through U. S. Help.
By TOM EVERETT,
COSMOPOLITAN News Service.

United States Senator Lynn ],
Frazier. of North Dakota. today
charged that the committee o.
bankers and grain dealers who have
been at the White House urging
President Coolidge to have the Ad.
ministration finance the sale Of sur
plus wheat to Europe. are engaged
in an active scheme-to make huge
fortunes for themselves.
Senator Frazier said that the com
bination now have several million
bushels Of wheat which they bought
from the farmers at low prices,
placed in storage warehouses and
which they are now trying to IN
load at high prices to be guaranteed
by the Government.
Warning to Coolidge.
Frazier expressed the hope that
President Coolidge will not be
hoodwinked by the schemes of these
bankers and middlemen who are in
terested in themselves and not in
the. farmers.
The delegation which called upon
the President included George =.
Marcy, president Armour Grain
Company, Chicago; George A. Rob-
erts and C. e. Lewis, Of the Min.
neapolis Chamber OF Commerce, and
w. e. Gould, of Minnesota.
"One Of the most remarkable
things In our government" Senator
Frazier said, ''is the attentive ear
that is given to the big fellows
when they come to Washington
asking for financial aid from the
Government. {
Right now President Coolidge
has before him proposition sub
mitted In person by committee OF
bankers, grain elevator owners and
grain spectators, asking for money
with which to export their wheat
holdings.
AS usual. hiding behind the
smoke screen argument that their
benevolent intentions are directed
at the American wheat growers and
that, above all things. they want
the farmers to get the money, and
it appears that they are making a
plea through the press for support
in getting the Government to
finance the sale of surplus wheat
ture Wallace introduced this COM
Following their visit, C.. H.
March, OF Litchfield, Mimi, who is
described as being big land holder
out there. but who is also a banker
and q lawyer, called upon President
Coolidge, trying to sell the same
scheme to him, so am informed.
March is quoted as having said
that there are approximately 200,-
000, 900 bushels Of surplus wheat in
the United States which would be
available for export IL the United
States War Finance Corporation
viii undertake to finance the for
eign shipments.
Money Not for Farmers.
Those of us who are familiar
with the wheat situation would like
all Of these gentlemen to tell Presi-
dent Coolidge just how much Of
this zoo, 000, 900 is actually in the
hands OF the farmers, and how
much, bought at cheap prices, Is in
the elevators of the middlemen. I
dare say It would be interesting il
they would provide the actual facts
"Of course, we all know that the
wheat growers now hold very little
wheat, and, therefore, the real thing
this committee of bankers and spec
ulators are after is to unload their
cheaply bought wheat at high
prices, with the Government guar.
anteeing payment.
"If Government aid Is given, the
spectators will own practically ali
the wheat now in the hands of the
farmers, who are not able to hold
IT longer. They have got to sell.
The bankers demand their money"