Evening star., 1923-09-29
Market, COMBINES
Of 0FFARMERSURGED
Seen by War Finance Cor
3. poration as Valuable Akt
{ to Agriculture.
BY DAVID LAWRENCE.

More orderly methods Of marketing
and the greater use of cooperative
marketing associations would, in the
opinion of the War Finance Corpora
uon, do more good at the present time
In relieving the. wheat situation than
anything else the government could
suggest. -" IL:
This advice was given the committee
Of bankers from the ninth federal re-
serve district at the conclusion Of their
visit here. President Coolidge has let
It be known that he will rely on the
solutions proposed by the, War Finance
Corporation as well as the Department
OF Agriculture. The issuance Of a
statement by the War Finance Corpora
tton outlining how extended had been
ITS financial help to the states of North
Dakota, South Dakota, Minnesota and
Montana, from whence the visiting
bankers came. was calculated to offset
sne impression that the government
hasn't been doing. it's utmost to help
the farmers OF the northwest.
Leans in Wheat States.
More than 81 per cent of the total
loans maue by the War Finance Cor
roratlon to the whole nation are out
SiandinS at present in the four states
aooVe mentioned. Anu the loans of
the War Finance Corporation exceed
ny. slooo,oo0 the loans of the fed
erai reserve system in these same
TOUR states. North Dakota alone
seat of the Non-P Partisan Leagues
radical1snl--has received more money
from the. War Finance Corporation in
proportion to its population and the
volume of its production than any
other state in the Union.
eugene Meyer, head of the War
FINANCE, Corporation, called the at
tention of the visiting committee ito
arranging advances, totaling more
than $190,000.000. to cooperative
marketing associations principally to
organizations handling cotton tobac-
co and rice" He added that the as
soeiations have proved most helpful
IN improving the methods of orderly
marketing OF American agricultural
products. and that the loans proved
To be safe.
The opinion was expressed by the
directors of the War Finance Cor
poration also that at would be of
great benefit to the wheat growers
OF the entire country If the relatively
small operations Of the cooperative
wheat associations could be extended
and developed at the present time"
wheat in Europe.
Mr.. Never, who has been investigat-
ing the European wheat situation at
first hand, explained why, under pres
ent conditions of f1uctuating ex-
changes. the European buyers do not
contract for wheat ahead. but buy
from hand to mouth and do not carry
the normal pre-war stocks of wheat
IN elevators and mill warehouses"
This situation. he thinks, cannot
change for the present, land the pro-
ducfng countries must carry the
stocks which formerly were carried
by the consuming countries; this
means for America slower market
ing. with warehousing and financing
adjusted to slower distribution, and
emphasizes the Importance of devel-
oping the cooperative marketing as
sociations." -.-
Most Of the proposals thus far made
for the financing Of the American
wheat export trade contemplate a
scheme whereby the United States
government would buy from the
American farmers at fixed price and
take -the~risk of loss due 10 cha nging
conditiensin foreign exchange. There
IS no sympathy with that line of
thought in the executive branch of
government. and there will be no ac.
ceptance of it in Congress unless the
radicals gain control, in which case
they might have to reckon with
presidential veto. =.