The Sauk Centre herald., 1930-12-04
FARM BOARD Gets
ADDITIONAL TIME
Probate Banking of Congress
i'm It's Efforts to Stabalize
Farm Product Prices
TOBE IVEN MORE FUNDS
Agriculture Secretary Hyde
and Chairman Legge Cues
toned by Senators

Washington, Dec. 2-Congression-
al backing of the federal farm
board in it's grain price stabiliza-
ton program. seems assured follow
ing a conference Of members of
the board with the senate commit
tee on agriculture.
Senator Charles L. McNary (rep.,
Ore.) chairman of the committee,
announced following the meeting
that sentiment of the 10 members
of the committee in attendance
seemed unanimous in favor of sup
porting the boards policies. This
was taken to mean that the COM
mittee members, many of whom op-
posed the administration farm re-
lief legislation and are not in COM
plete sympathy with the policies.
will offer no obstructive tactics at
the coming session of congress and
will approve of requests of the
board for appropriations.
1t is expected the board, which
has already received $25O,0O0,0OO
out of the authorized $500, 900
for its revolving loan fund, will ask
for large part of the remaining
$3.50 100000 in the coming session.
Senator McNary said that the
conference, which was continued
today, did not reach the question
of legislation such as the export de-
benture plan and other radical
proposals to meet the agricultural
situation. It seemed probabl the
final outcome of the conference
would be an understanding that the
farm board should have a longer
time in which to work out a solu-
ton of it's difficulties and that it
should not be embarrassed at the
coming short session of congress
by attempt to adopt the export de-
benture or other new schemes.
Heads of the three leading farm
organizations are present and will
inform, the committee that they are
in agreement that no radical legis-
1ation should be effected during
the coming session.
Even the National Grange, which
is the sponsor of the export de-
benture plan. is content to allow it's
consideration by congress to go ov-
er for another wear. The three
organizations were represented by
L. j. Tabor, president of the
Grange; s. H. Thompson, president
of the American Farm Bureau Fed
Grafton and c. E. Huff, retiring
president of the farmers union.
Most of the conference, which
was behind closed doors, was occu-
pied with the questioning of Sec
retary of Agriculture Arthur M.
Hyde, who is an ex-efficio member
of the farm board and Chairman
Alexander Legge Of the board.
Secretary Hyde suggested legis-
lation amending the grain futures
act to give more fexibility in
methods of forcing compliance by
the Chicago Board of Trade and
other grain exchanges with sugges-
tions of the department of agri-
culture with reference to rules and
regulations. Mr.. Hyde pointed out
that at present, after an exchange
is designated as a contract market
under the grain futures act, the
only method of penalizing it is to
revoke its license and that this can
be done only by a board composed
of the secretary Of agriculture, the
secretary of commerce and the at
torney general. He thought this
was to drastic step to be taken
under ordinary circumstances and
that there should be some other
method.
Secretary Hyde, who precipitated
international excitement last sum-
mer when he publicly protested So
Wet Russian short sales in the
Chicago wheat market, was heckl-
ed bit by two democratic senat-
ors, B. K. Wheeler. Mont, and Elm
er Thomas, Okla, when he appear
ed before the committee. Both
Wheeler and Thomas have visited
Russia and their remarks indicat-
ed doubt the comparatively small
Soviet Russia short sales would ap-
preciably affect market conditions
either way.
Senator T. H. Caraway (Dem.,
Ark.) said he would ask the senate
this winter to pass on his bill to
forbid short selling of farm. COM
modities.