The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1924-03-06
M'NARY'S BILL
SAID GAINING
BY n. DAK0TAN
Sentiment, in Favor of ii Is
Remarkable, Says J. L.
Page, of WesthOpe, N. ID.
EXPLAINS THE BILL

Grand Forks, n D., Mar. 6.--The
sentiment in favor of the McNary-
Naugen Export Corporation bill, now
, before Congress is gaining phenome-
nal Roadway among eastern inter-
ests, according to J. l.. Page, pres
ident of the Bank of Westhepe.
Westh6pe, N. d. who stopped here
today enroute. home from Washing
ton, where he represented the North
Dakota Wheat Conference Committee
in behalf of this measure.
THE McNary Haugen bill goes
straight to the core Of the situation
of the country on the brink of bank
ruptcy," said Mr.. Page. 1T is nei,
Their make believe nor theory. 1t is
Il logical, workable means for accom-
plishing the one thing which will save
the farm producers prices for their
crops on a balance with the prices
they pay for the things they buy.
The measure would Immediately
make the farm commodity dollar
worth an even hundred cents in the
.opcn market. 1t is now worth less
would make bushel of wheat, or a
pound of pork, exchange for as largo
an amount of manufactured or other
commodities as was the case before
the war.
And this would he accomplished
without any report to arbitrary on
unnatural fixing of prices. Under
the provisions of the McNary- Haugen
bin the prices for farm products
would be just as flexible and just
as sensitive to general conditions as
they are today, but they would be
established on a generally higher
plane, in keeping with returns Sc
cdred for other lines of production.
What Bill Does
"The McNary- Haugen bill does two
things:
First, through a specified study
Of comparative prices for farm com
modities and other articles during
pre-war years, it determines what
wheat and other products should sell
Aer today, in comparison with other
commodities, to make these farm ar
ticles equal their pre-war exchange
value. In other words, if the price
of five bushels of wheat before the
war would purchase pair of shoes
of a certain quality, the bill deter
mines what wheat would have to sell
for today, so that the actual money
received for five bushels by the
farmer would purchase the same pair
of shoes. In determining these COM
1:nk - xIn~
400 standard commodities is used.
Second, after this legitimate price
3 determined, the bill provides a
government agency to go into the
market whenever the price of the
enumerated farm products goes be-
low this figure, and make sufficient
purchases to put the price up to the
proper point. Of course, the result
of having such a price available from
Il government purchaser will enforce
competitive private dealers to pay
equal or greater amounts.
To Determine Prices
This, stripped of detail, is what
the McNary- Haugen bill would do. 1t
determines what fair prices for
wheat, corn, livestock or other de-
pressed products should be, and then
il provides facilities for purchasing
that product under such conditions
that the determined price will be
paid. The corporation probably will
stand some loss in disposing of the
exportable portion of various crops
on worlds markets which are below
the established domestic price, so to
protect the treasury of the United
I States the bill provides a unique,
workable method of assessing back on
the growers of the commodity any
such loss in export sales
If the bill were in effect today,
wheat would be selling for from 35
cents to So cents bushelmore than
it is bringing, depending upon grade
and location. Corn, livestock and
other affected products would under
go comparable price benefits. Amer
lean agriculture would again be faced
toward DrOSDority.