The Washington times., 1924-02-05
FARM
PLANS WIN
SUPPORT
Agricultural Policy Wins Back
ing of New Relief Cor
poration.
Bx WILLIAM HARD.

by WILLIAM HAM,
A striking evidence Of strong sup
port by private business interests
for President Coolidge's northwest
ern agricultural policies was seen
today when the organizers OF the
new private northwestern rel1ef
corporation, after conference with
Secretary of the Treasury Mellon.
Secretary Of Commerce Hoover and
Managing Director Eugene Meyer
jr., OF the War Finance Corpora
ton. let It be known that their
plans were fully underway and
that private business in the East
and in the Middle West will do its
part in the reviving Of prosperity
in the northwestern States.
Thus q hot race was started be-
tween private business on the one
hand and ON the other hand the
advocates OF the establishment Of
Governmental corporations for the
assistance Of northwestern farmerSs
Three different sorts Of Govern
mental corporations have already
been earnestly. suggested and heav-
lily supported in Congress. Senator
Norris Of Nebraska has brought
forward one of them, Senator Nor
beck Of South Dakota another and
Senator McNarry Of Oregon the
third.
Three Plans Proposed.
They all would be governmentally
financed and in varying ways
would take the Government stiu
further into the business Of lend
ing and Of buying and selling.
President Coolidge has given his
nEk 70 ~ 0lNH
the one named after Senator Nor.
beck; but it is well known that
whenever governmental intervention
can be- avoided he is in favor OF
avoiding it and that his first pref.
erence is always for action by pri-
vate business initiative.
It is accepted here accordingly as
political fact that the new private
northwestern relief corporation
will diligently endeavor to do so
much for the Northwest that the
need for governmental action will
be greatly reduced. It may be fur
ther stated as an accepted political
fact in Washington that unless this
new private corporation brings great
and rapid fruits in the way Of re.
lief for the Northwest there will
inevitably be enormous pressure
upon Congress for widespread Fed
eral governmental activity through
governmental corporations through
out the northwestern region.
The race is a race to see whether
private initiative can really move
fast enough to get ahead of the de-
mand for more Governmental bu-
reaucratic philanthropy backed by
the taxpayers.
Strong hopes for the success Of
the new private corporation were
founded today on the characters and
capacities of the men on its organ
izing committee. They were headed
by Clarence M. Woolley, Of the
American Radiator Company, who
has enormous business experience In
all parts of the world and who dur
ing the late war was vice chairman
of the War Trade Board. He is
known as an industrial statesman of
great insight and Of great energy.
Funds Are Available.
1t was noted that the members Of
his committee are drawn from New
York and from Chicago as we'll as
from the Northwest. From New
York, for instance, there is John Nc
Hugh, president of the Mechanics
and Metals National Bank. From
Chicago there is, for instance, Ralph
Van Vechten, vice president of the
Continental and Commercial Bank.
The committee as a whole il
thought to be able to bring great re-
sources together from the East and
from the Middle West in order to
throw them into the Northwest at
all the important weak points in the
northwestern situation. After talk
ing with the committee today, En-
gene Meyer, jr., managing director
OF the War Finance Corporation,
said:
This enterprise will be backed
by sufficient funds to enable It to
do business on an effective scale
and in a manner which will be
as large as the situation requires, +"
Most members of the COMMITTEES
left Washington today TO return
to their homes to hasten the work
Of organizing the new corporation.
and for the first time since the be.
ginning OF the recent AGRICULTURAL
depression there was q real COM
petition begun between rescuing the
farmer by private enterprise and
rescuing him by Governmental ao.
uvities which business men usually
call socialism"
Copyright 1924, Washington pres.
\