The Carbon County news. [volume] (Red Lodge, Mont.) 1924-1931, 1929-08-29
AS An Agriculturalist
Sees Farm Boards Job

The new Agricultural Marketing Act
approaches farm relief from materi-
ally different point Of view from that
of former bills before Congress in re-
cent years, says Dean II. L. Russell Of
Wisconsin University College of Agri-
culture In the American Bankers AS
ISOLATION Journal.
at contains new idea, fraught with
the greatest possibilities--the organi-
cation of Federal Farm Board he
says. 1T has been possible for farm
cooperatives to borrow from Federal
aided institutions before, and at ma.
terially lower rate than city business
men had to pay for working capital.
but this is the first set.up made by
the government in which a commits
sion has been carefully chosen to give
undivided attention to an effort to
solve the problems of farm group.
at is hard to conceive of a higher
degree of responsibility than must be
assumed by this commission. No board
ever created by congressional action
has been clothed with as Wide plenary
powers. 1t is authorized not only to
advise but to execute, to plan and put
It's plans into effective action, to buy
and hold, to dump, to dip into the
Federal treasury to accomplish its
ends with what would be almost I'M
limited resources to any private COM
mercial concern. The boards only
Job is to succeed, and no govern
mental agency even during the war
time emergency had a wider latitude.
MANY will think the farm relief
program will be universally applicable
to the individual land owner or oper.
ator. Such procedure is far from the
case. Aid is to be extended through
cooperative organizations by making
it possible for such groups to obtain
cash advances to hold crops so as to
permit of more orderly marketing
"While the primary relation is with
cooperatives, the individual or unor-
ganized farmer will also profit by the
activities of his organized fellows. II
stabilized program of merchandising
Is able to eliminate the SURPRISES thai
exert such depressing influence on
prices the general price relation
should be improved. If this occurs the
Individual farmer should also benefit.
at is here the government is pro.
posing a novel attempt in economics.
Through sterilization corporations for
each commodity 1t Is proposed to
make possible the handling Of the
surplus so as to lessen its disturbing
influence on prices. With non-perish-
able products such program Is, OF
course, conceivably possible, but one
wonders what would happen IL a sta
bilization corporation had to handle
perishable crop in great quantities.
us 1t going to be possible for sta
bilization corporation to stabilize? 1t
would be one thing II it had merely to
stabilize the American situation, but
often that situation Is complicated
with world conditions. Perhaps the
very fact that such sterilization cor
poration is in position to function may
have a steadying effect on the market.
Markets respond to psychological
stimuli as do individuals. The very
fact that the. government has now def
initely stepped into the breach with
all Of its resources available to make
the new plan work will exert I'M
doubtedly a strong stabilizing effect.
ut would be presumptuous to fore
cast what the ultimate effect of the
new act will be-. 1t can, however, be
definitely stated that in the present
plan much Of the philosophy that had
been so drastically criticized as eco
nomically unsound has been elimi-
mated. The existing plan is worth
trying. 1t will undoubtedly cost the
Federal treasury no inconslderable
amounts of money, but II it produces
the hoped.for result 1t will have been
we'll worth while"