The daily star-mirror. (Moscow, Idaho) 1911-1939, 1923-07-21
WOULD WITHDRAW
AND Store WHEAT
FARM BUREAU HEAD STARTS.
MOVE TO HOLD BACK 200, ,OO0, 800
BUSHELS-STORE ON FARMS

Chicago-A plan to withdraw 2OO,-
100000 bushels of wheat from the
market and store it on farms until
prices advance was announced by o.
e. Bradfute, president of the Ameri-
can Farm Bureau federation
The farm bureau plan provides for
financing the project under the new
intermediate credit act, by which Mr..
Bradfute estimated $3.50, 900 900 could
be made available to lend to farmers
for storing their surpluses. Presi-
dent Bradfute estimated that $780,
100000 would be ample to store 20O,-
| 000,00 bushels of wheat and thereby
remove it from the below-a-dollar
market.
Store ON Farms
President Bradfute declared that
farm wheat bins under the interme-
diate credit act might be designated
as government bonded warehouses for
which bonded warehouse receipts
could be issued against wheat stored
on the farm. In this manner, he as
serted, the grower would be enabled
to borrow through the intermediate
credit system up to three-fourths of
the market value of his wheat with
the warehouse receipt as collateral.
enabled him at the same time to
and it became advisable to sell.
The farm bureau federation, Presi-
dent Bradfute said, expects to ad-
vance it's plan through it's As state
farm bureaus. including 100000
members in cooperation with the
commodity marketing associations
and the country banks. The Wichita,
Kansas, intermediate credit bank, he
declared, is already advancing $780,
900 a day to growers under his plan,
with prospects for applications total
ling a daily peak of $2,000,000, the
money being loaned at 51k per cent,
Advance Prices at Once
The withdrawal of 100000, 900
bushels of wheat from the market
and the locking of it up under gov
ernment seal in farm warehouses,
President Bradfute said, will have an
immediate effect on prices.
wheat selling below 81 bushel
rs a national tragedy in America"
his statement said 1T is tragedy
not only to the farmer who grows the
wheat at loss, but also the con-
sumer-the business man and the
must ultimately depend
on that farmers wheat dollar for
their continued prosperity and hap
piness.
The American Farm Bureau fed
Grafton believes that cooperative
is the ultimate solution to
the national wheat price problem.
We are now at work on a national
cooperative grain marketing policy,
being formulated upon instructions
from our members. Under this plan
the growers of the nation will, in
TACT, place their grain in a common
Din and will merchandise it in an or
ler1y way over the consumptive
period, instead of dumping it ON an
already overloaded market during the
our months following harvest. CO.
operative marketing of wheat will un-
solve the price problem
% the benefit of both producer and
consumer"
The plan, except in few sections,
8 not ready to function as yet, he
iaid, adding that the new intermedf-
lry credit law was in effect, however,
md urging the secretary of agricul-
ure to designate warehouses on
arms as government bonded ware
houses to allow the farmer to mar
ret his wheat in an orderly manner
md still be provided with sufficient
apital to carry on his business.
Curtail Production
Chicago-The cooperative agree
nent to curtaiI wheat production by
he wheat growers of the six states
n the wheat producers conference of
be southwest, will clear the way for
prosperity of wheat growers in 1924,
t as declared by Grosvenor Dave,
xecutive vice president of the wheat
ouncil of the United States, in a re-
ort to the council, made public here.
With an agreement like this the
yheat growers of the United States
an go long way toward getting on
sound basis before the snow flies"
aid Mr. Dave. He endorsed the
olicies of the wheat producers con-
erence of the southwest, organized
/ Wichita, Kas., July 16, by repre-
entatives from Kansas, Oklahoma,
ebraska, Colorado, Texas. and Mis-
1uri and declared that the wheat
ouncil of the United States would
1-operate in the efforts of the
men,
These six states have an increase
wheat acreage of S,236,000 acres
ore than in 1913" declared Mr.
awe "This is S-11ths of the total
xcess acreage of the United States.
he majority of the wheat growers
the conference were faced with
)solute. ruin. Yet it was the sober
It, sanest conference T ever sat in
OF word was said about govern
ent price fixing or market manip-
aion These men knew the truth,
Id there is no export market for
merican wheat at American living
ices The American wheat market
at home"
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