The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1928-01-27

stressed the tact that in the past few
years the member and other banks Oh
this district mad liquidated an lndeDt-
edness of approximately two hundred
million dollars down to less than sew
en- millions which we know was uneA-
plainably and selfishly unwarranted
and contributed very largely to the
plight and misery of the farmer,
the local banker and merchant and
should not have been heralded as evil
dence of prosperity.
The Greatest Power In tie World.
The Federal Reserve Board with
power to create spurious prosper
ity" by initiating prices, or business
depression by debating prices, has the
greatest power of any government
hooy in the world. Further, with the
control of three-fifths of the gold
supply of the world in the United
States and the liquid taX-exempt Sc
curities displacing the farm mort
gage and the home, dangerous and
vicious situation has arisen. Form
erly, the farm mortgage and tie
home was liquid but now is frozen,
even though secured by the land itself,
than which there should be no better
! security. SO it is obvious that equali-
| ty legislation must be enacted to
stabilize an industry that feeds and
clothes the nation. 1t has now reach
ed a point of self preservation with
the agriculturist who demands imme-
date action and who is not to be pia-
Gated with talk of tariff adjustment
waterways, barge lines, lower freight
rates and other sO-called remedies not
pertinent to the main issue.
In the control of finance, labor
railways and public utilities through
the various boards, the Department
of Commerce (Secretary Hoover) il
his zeal to capture the world trade
in its unsettled condition following
the World War, has actually indus
trialized the United States at the ex
pense, detriment, and misery of agri
culture, which is borne out by hi.
own statements, March 30, 1926
Farm values shrink II billions-ol
25%." The government concedine
three billions more since then. In {
letter to the St Paul Dispatch, Marcl
20, 1925, his only idea of relief to tn,
agriculturist is, "To wait ten year,
Tor the increased population to alb
sorb the surplus" The Department
of Agriculture Sept. IL, 1927, says
Farm values continued to shrinl
during the crop year just ended.
Adding, "That there are plenty o
farms for sale with buyers few AM
cautious Oct 90, 1927, Mr.. Hoove
says: "The Better Homes of Amerlc;
. movement was founded in the belle
that our national strength and wei
: fare are sustained by high ideals an,
| sturdy character" "The first essen
tial for wholesome home life is
/ good house in which the family ma
/ live in privacy and comfort" Il
t Child Welfare Magazine, April, 1927
, he says: at is a tribute to the thrift
of millions of our people and to thei
will to own their homes and improv
! their living conditions. There can b
: no Sounder guarantee of the stabilit
| and progress of our nation than tina
] IN every child there should be implant
: ed the ideal of an owned home as tn
: center Of happy family life" T
, the farmer everything on the farm
: not only the house, every building
t the orchard, livestock, equipment an
: acreage means home to himself an
: family Surely he should be safe
: guarded equally with his city cousi
IN the enjoyment of the sacred rioht
t IN his property and home.
= The farmer faces a condition nc
/ OF his own making or because of an
i ear elessness on his part, but due er
r tifeiy to the overnight enforced dc
e tlatlon. Had he have had the benefi
a OF lOO% membership with an ur
: derstanding Farm Board in a co-or
o efatlve organization in 1921 his do
lar would be on parity with the 90
: lar of industry and labor.
e Using President Coolidge's ow
e words In a Lincoln Day speech i
1924, in New York City, he saws
t Agriculture is distinctly a nation.
S question 1t is the primary sourc
: OF sustenance, enterprise, industry an
o wealth. THE farmer is not recei,
n ing his share, the average price G
: ms product is a little above pre-wa
= leNel whereas that of manufacturer
r are about 500 higher" The resu
Y has been a decrease in the value :
e farm land, the choking of the avt
n nues Of crdeit with obligations whic
d axe worthless or doubtful. The for,
y closure of mortgages and the suspel
Il sion of a large number of banks
+ The same thing is true today.
e SelfIshness and Propaganda.
= The business mems proposition I
k AID Farm Relief appears to the OF
h binary person as only a camouflae
d and propaganda to distract attentio
from the real issue. The varior
+ heads of railways centering in Ii
: Twin Cities as disappointed "autl
: critics" on agricultural condition
n with story of their own to tel
;, They know better than anyone II