The midland journal. (Rising Sun, Md.) 1885-1947, 1930-05-02
NEWS REVIEW OF
CURRENT EVENTS
Legge Says Export Deben-
ture Would Bring on a
Foreign Embargo.
BY EDWARD w. plcKARD

BY EDWARD w. PlcKARD
DRESIDENT HOOvER'S opposition
to the export debenture plan as
means of solving the wheat problem,
now incorporated in the pending tariff
bill, has received the support Of
Chairman Alexander Legge of the fed
eral farm board. In radio address
broadcast by the National Farmers
union, Mr.. Legge predicted the adop-
ton of this plan would have dire re-
suits. yH
Some persons think way should
be found so that the world market
price would apply only to the surplus
production and have the tariff effec-
tive on the wheat sold at home" Mr..
Legge declared. ITO my mind this is
impractical"
AT the present time you see the sit
uation of France paying bounty of
20 cents bushel on the export of GER
tain grades OF. wheat, of which they
have an excess supply, and Great Brit
ain taking measures to retaliate. A
few weeks ago, in parliament, Lloyd
George made the statement that If
the United States tried to ship wheat
to England at price lower than
domestic price levels he would not be
satisfied with a duty, but that the
remedy should be an embargo prohib-
iting the importation of any wheat
from this country. l5Ss "a
'All of the consuming countries Of
the world are watching us closely. /
am satisfied that they would take
prompt measures to retaliate in the
event exporting was done on basis
which they believe would be unfair
to their growers, just as we do in
this country under such circum-
stances" c3Af ftu U
Defending the boards setup of GEN.
trail marketing associations, Mr.. Legge
stressed the point that these "are not
government agencies, as some critics
who cry Socialism would have. the
country believe, but, instead, are the
instrumentalities Of the producers,
who grow crops, to market these crops
to their best advantage"
William G. kellogg has resigned as
general manager Of the Farmers Ma
tional Grain corporation and vice
president Of the Grain Sterilization
corporation, both of which are spon-
sored by the federal farm board.
Mr.. Legge says he believes the farm
board is meeting with success in it's
wheat acreage reduction program. In
formation received by the board is that
in the West and Northwest the farm
leaders and farmers themselves are in
dorsing the plan.
d EPLYING to an inquiry from Sem
N ator McNary, the chairman Of the
farm board said that body does, not
favor the abolition, Of grain and cotton
exchanges by act Of congress, as pro-
posed by Senator Caraway. although
1t does favor better supervision of
them.
As for cotton, it appears that the
farmers co-operatives have been turn
ing the tables on the traders and
put them Tito a squeeze play" that has
cost the shorts millions Of dollars.
The co-operatives, it was estimated,
held in May and July contracts or in
spot cotton unsold in the South more
than million bales. and 1t was con-
ceded that the big operators who will
have to- put up actual cotton will have
to pay fancy prices for these bales.
PEAKING to some six thousand
~ Daughters of the American Reyolu-
tion gathered In Washington for their
thirty-ninth continental congress, Pres
ident Hoover earnestly argued in be-
half of American entry into the World
court and said he had no doubt that
the United States would soon find a
way for such action. He declared
American adherence would not consti-
tute an "entangling alliance and that
1t had been recommended "by every
one of our Presidents and every one
of our secretaries of state living since
Its inception"
The Daughters, who as body have
evidenced their opposition to Ameri-
can participation in the World court,
duly applauded Mr. Hoover. He was