New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1927-08-01
IS
sure TO COME UP
Coolidge Not Losing Sight Of it
in Naval Crisis

Rapid City. 8. D.. Aug. (UP)
While the decision in the Geneva
disarmament meeting was delayed
for several days, President Cool
idge's interest today was turned to
farm relief with Indications that a
definite administration bill has been
tentatively worked out by republi-
can leaders for consideration in the
December session Of congress.
The measure, 1t was learned,
would create a $300,000.000 federal
revolving fund for loans to coop
erative marketing associations. The
funds would be used to build ware
houses and store crops until a fair
price could be obtained in the mar
ket.
Three Of the men who are sup
posed to have had hand in work
ing out the bill are to arrive here
this week for conferences with Mr..
Coolidge about the farm situation.
Senator Arthur Capper, republic
leader OF the farm bloc, was to ar
rive today for short visit. Eugene
Meyer, now head OF the federal
farm loan bureau. is expected with
In the next two or three days and
Senator Simeon D. Fess republi-
can, Ohio. is due Saturday.
These three conferences are ex-
pected to center around feasibility
of the new measure. While Mr..
Coolidge had no direct part In
framing the bill, information here
is that 1t is to be considered the
administration measure and will be
championed by administration re-
publicans.
AS the bill now stands, it would
provide for establishment of a fed
eral farm board of three members
to be appointed by the president:
that $4,000 600 be loaned to coop
erative associations for purchase of
warehouses and creameries, and for
s25.000.00O for operating expenses
OF the board and an advisory coun-
Gil consisting of seven members for
each principal farm commodity.
The advisory council would be Sc
lected by the cooperative associa-
tons.
The bill eliminates the equaliza-
ton fee system OF the McNary-
Haugen bill and proceeds upon the
idea that merchandising is the key
to the solution of the farmers
problem
1t is proposed to enable farmers
to warehouse their surplus and in
stead Of lending them up to so per
cent Of value of their crop on stored
produce. it would finance them up
to 100 per cent.
Statistical information IS to be
furnished cooperatives and pools
which Is designed to modify the
risk Of the government in financing
disposal OF the surplus.
Commodity sterilization corpora
tons would be established by the
board. with one corporation to each
commo dity. Boards Of directors of
each corporation would consist of
five members. Capital stock would
be kept at a minimum to make
government participation unneces-
sary and would be subscribed for
by the cooperatives.
Fronts made by the corporations
would be used for two purposes.
An amount to be determined by the
board would. go into the reserve
fund to cover losses which might
be sustained In unfavorable years.
The remainder would 60 to mem
hers Of interested cooperative Or
CARNATIONS in the form of dividends.
Mr.. Coolidge has not yet sane
toned the plan but inasmuch as it
was worked out by those who have
thus far followed his principles in
the matter of farm relief, his APP
prevail may not be difficult to OBJ
tain.
Besides Senators Capper. Meyer
and Fess, those who are said to
have had a hand in the matter are
Secretary of Agriculture Jardine
and Secretary of Commerce Hoover.