Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-09-29
ND EXTRA SESSION
CALI. CONTEMPT Plated
FOR FARM RELIEF
BY DAVID LAWRENCE
Ueascd Wire Service to The Journal
Downright. 1928

WASHINGTON, Sept. 2S.-Farm
relief so far as government appro-
priation of funds Or any other form
of direct or indirect subsidy is not
going to be granted. Gestures of
aid and sympathy will be made, but
at bottom most government officials
are convinced that there is little
they can do to boost the price of
wheat.
The committee of bankers from
the wheat-2roWing states, compris
ing the Ninth federal reserve district,
are in conference today with the
directors of the war finance corpora
ton. They had their talk with Presi-
dent Coolidge on Thursday. They
did not argue for any specific pro
posal, but urged in general that the
government do something to inn
prove the position of the wheat
growing farmers.
For one thing, the government is
satisfied that it has done all that
it can possibly do in the way of eX
tending credits. More money has
been lent by the war finance cor
poratiOn to the Wheat-grOWing states
than has been given in proportion
to other paris of the country. New
up by new Legislation at the last
session of congress.
What then remains?
Want Government to Sell
The farmers would like the gov
eminent to handle the crop for eX-
port somewhat as it did during the
war. The claim is made that the
government made $50 900, 900 through
its wheat operations in connection
with the war, and that this sum
might be used as a revolving fund.
But the question asked in Wash
ington is whether the farmers want
the government to go into the ex-
port business and take a loss, for
if the world price of wheat is down
the government would be unable to
sell its wheat at any higher prices
than could the farmers themselves.
America is no longer in the position
of debating to foreign countries
what the price of wheat shall be as
other parts Of the world have come
into production. The United States
is at the mercy of a worldwide
situation. Canada, for instance,
with a crop of 350,O00,O00 bushels
of wheat to export is compelled to
as America with her approximate
surplus of 100000 to 100000,000
bushels.
Officials point out that the price
of wheat today is higher than it
was a year ago today and that
prices are bound to rise still further.
Europe is buying from hand to
mouth and currencies abroad are
fluctuating due to unstable polltl-
cal and economic conditions. The
settlement of the war in the Ruhr
is confidently counted on here to
improve the situation through the
natural benefit that will accrue to
the purchasing power of all Europe
unless of course revolution develops
in Germany and destroys the value
of the German surrender to France.
No Special Session
No special session of congress is
in the Offing because the admins
tration hasn't yet anything to pro
pose that can be cured by leSisla-
ton. Secretary Wallace, of the de-
partment of agriculture; Secretary
Hoover, Eugene Meyer, of the War
Finance corporation, and all the
men who know anything about the
farm situation, are stralnlnS hard
to find some solution that will help
the farmer. The political power of
the farm bloc is appreciated. The
administration wants to appear as
sympathetic and helpful as possible.
If the farmers want to restrict
wheat to the American market they
must get rid of the surplus some
how or else get a protected price.
There is little doubt that western
senators and members of the house
will come back here with proposals
to have the government finance the
wheat crop, but on the face of
things today the proposal will not
set administration backing. The
hope here is that conditions will
have shown material Improvement
when congress re-convenes and that
the natural laws of economies will