Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-19
CRITICS
| OF FARM BOARD.
Campbell Appeals for U. S.
Aid to Correct Abnormal
Wheat Balance.
~ the Associated Press.

~ the Associated Press.
+ Declaring there was only an 'imagi-
harry" surplus Of wheat because Of the
huge shortage Of other grains, Thomas
y. Campbell, Montana wheat grower
and adviser to the Soviet government
IA It's five.year economic program, APP
nealed yesterday for direct financial aid
SFom the Federal Treasury to correct
This abnormal balance"
4 In lengthy statement on the world
wheat situation issued after confer
knces with President Hoover and Chair
man Leeee Of the Federal Farm Board,
mr.. Campbell denounced critics Of the
hoard, ninimixed the effect on prices
Of Russian exports and hedging on the
Chicago market, and asked that we
reverse ourselves and think positively,
not negatively, about general business
! IT expect to see q big increase In
the price Of farm commodities" he said,
twhen we begin looking at our own
situation and are not blinded by what
some other country is doing"
!, Competition From Canada.
\ MFR. Campbell said he had travelled
thousands OF miles In Russia recently
inspecting state and !collectivized farms
and discussing the situation with ON
cials Of the grain trust.
4 ..'They all know that &c win take
them several years to increase their
production to equal their own growing
requirement." he said, but after three
years every country in the world win
feel the keen competition OF Russian
Grain exports. Meanwhile, our great
est competition is going to come from
Canada, which exports from $50 to 500
million bushels per year."
Campbell doubted Russian net ex-
ports this year would exceed 10000, 900
bushels, but said even assuming 1t
would be 100000 It was absurd to
has been caused by this small addition
to the worlds exportable surplus Of ape
proximately S00,o0o,000 bushels, and
when the world produces, including
Russia, almost four billion bushels OF
wheat"
Many Factors In Decline.
The decline in wheat started q year
ego, he said, and has been caused by
H6any conditions, primarily by q world
surplus Of wheat with poor distribution
VII y 0CtCA44nA4CQ 0AAA 7OOAANCASSA C4AOA
On the part OF some organizations to
0iscredit the Federal Farm Board and
The Canadian Wheat Pool" &
\ The worlds production Of wheat, eX-
GLIDING Russia, averaged about three
HILTON bushels, he said, with the aver
aRo In the United States, CSC, 000, 900.
The average turnover In the Chicago
Board Of Trade he placed at sixteen
htIlion bushels year and in all the
&rain markets Of this country, eighteen
BlIliDn bushels.
"I have no brief for Russia" he said,
1And have opposed the hedging Of grain
a Chicago by any foreign country for
line years, but it Is hardly consistent
Nith the above facts to say that the
hedging Of 1000, 900 bushels of wheat
a Chicago market. has caused the
Hreeent low prices"
cit would be much nearer the truth,
Ne asserted, ssto say that the concerted
short selling by the professional bear
ana foreign buyer assisted by the
present rules and regulations. which
ere al in the sellers favor. for the past
~ mcnths have been . much greater
factor In the present low prices"