The daily star-mirror. (Moscow, Idaho) 1911-1939, 1923-10-19
FRENCH OUTLINES
wheat PROGRAM
CONGRESSMAN SUMS UP PROPO-
SITION URGED BY MEYER AND
MONDELL All SPOKANE MEET

Representative Burton L. French
was one of the group from Moscow
who attended the hearing in Spokane
held by the chairman of the war
finance corporation, Eugene Meyer,
and Director Frank w. Mondell, on
Wednesday. Speaking of the confer
ence, Mr.. French said:
"The attendance of some three hun
dred wheat growers at the confer
ence indicated the profound interest
of our people in the problem of ade-
quate prices for our wheat and must
have deeply impressed Directors
Meyer and Mondell. The newspapers
have reported the events of the con-
ference so fully that all I shall need
to do is sum up in a statement the
substance of the proposition urged
by Directors Meyer and Mondell,
which may be outlined as follows:
81. Probably not surplus of
wheat in the United States or in the
world
"2. The reason Europe is not buy
ing is largely because of impoverish-
ment and fluctuating rates of eX-
change. W
"3. European buyers have but
twenty to thirty per cent of the stock
Of wheat on hand that they custom
arily held before the World war.
a. That means that somebody
else must hold the stock of wheat,
and that somebody else must be the
people of the United States.
SIS. 1t must be held in warehouses
by large buyers or by the wheat
growers.
sc. The wheat buyers are getting
wheat at too low price because
European buying is not squirting on
the market.
'7. Prices would rise if growers
could arrange to hold
"8. Producers could hold so as to
determine the price of wheat if they
would organize so as to control
twenty-five per cent or more Of wheat
produced.
49, The war finance corporation
would aid in financing such organtz-
ations.
30 Cotton growers and other pro-
ducers were cited to show how the
war finance corporation has helped
to fix the price Of COM
modities.
I'll Both Directors Meyer and
Mondell believe the wheat growers
of the northwest central states,
where they have been, are moving
rapidly toward organization and that
it is possible to perfect organization
within thirty or sixty days to con-
troll the situation.
"12 Both Meyer and Mondell
doubt the feasibility of price fixing
and do not believe it could be ac-
in time to benefit pro-
ducers of present crops.
"The foregoing" says Mr.. French.
is an outline of the plan of what
seems to be in the minds of Directors
Meyer and Mondell."
"I have not altered my belief in |
the desirability of the program adop- |
ted by the farmers conventions sixty |
days ago in Spokane and Moscow |
On the other hand, pending the meet
ing of congress, I hope great strides /
will be made in the plan recommended |
by Meyer and Mondell IF an organi-
zation can be perfected that will be
large enough, undoubtedly, the plan !
would succeed.
whether or not this can be done |
will depend on certain big wheat cen
ters such as ST. Paul and Minneapolis |
and the rapidity with which they |
move during the next thirty or
sixty days
cone strong reason why 7 believe |
the plan could succeed is that buy |
ers of wheat quite generally in the i
United States are the ones who are |
the plan of having the far
ners get topether' -