The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1931-04-24
Friday, April "a, 1881
HOOVER PLANS NO NTERFER-
ENCE IN FARM BOARD WORK
OF course not!

100 per cent for the rich farmer and particularly
for the bankers? Isn't that just exactly what the
farm act was passed for? To help the banker and
the richer farmer! Has not the Producers News
always said so? And is not the Producers News
always right?
You know that it is!
Some people thought, many poor farmers had an
iGea, that the Farm Board was meant TO help them
out of their distress, but they know better now.
Some poor farmers out here in the wide open
spaces of the west thot that the federal farm seed
and grass loans were meant for them. Well they
know better now. You bet they do
The poor farmer did not get any money-he
did not get any money unless he had security to
offer his Uncle Samuel-the security the
more money, the less security the less money.
Those who needed the aid worse, those who had no
security, who needed the seed loans to raise the
food to feed hungry mouths, did not get any money
from Uncle Sam, any more than the hungry starv-
ing farmers of the south got any money for food
to save their very lives
Hoover was not elected to feed Door people
he was elected to run this government for the
rich-fOr the So families who rule this country
and ne is ruling it in a way that just suits them
In the early winter of 1880, the Farm Board
pegged wheat at SIPS bushel in Chicago, and
tcld the world it had pegged wheat at that price.
Wheat selling in the pits for less than dol
lar, driven down by the spectators and those
fighting "relief legislation" The farmers of the
United States rallied to the support of the Farm
Board and bought heavily. They believed the
Farm Board would do what it said it would do
The wheat sellers were set TO lose millions upon
millions of dollars-for the wheat futures must
come to cash wheat on delivery demand The spec
ulators cried out to high heaven julius Barnes
rno1o fw0 ~
for conference with Hoover and Hyde The peg
was removed, wheat dropped and the farmers lost
lost the money they had backed wheat with, on
the word of the Farm Board.
Get this: Hoover pulled the peg, and let the
wheat buyers instead of the wheat sellers lose.
He pulled the peg to save the sellers.
The farmers of Dakota and Montana lost mil
lions of dollars because of this base BETRAYAL
this highway robbery.
Had the Farm Board stood by its peg pledge
every millionaire grain specuator would have lost
huge sums but instead the buyers, who happened
to be the farmers and the middle class lost-thanks
30 Hoover
Hoover looks after his own.
And every farmer in Sheridan county who lost
his money in the spring of 1880 was deliberately
burglarized by Hoover for the benefit of his
friends-just much as if he had held you up on
the streets with an automatic, and a thousand
times more dishonorable and contemplate for
hold-up man takes chances and he has promised
nOthing-but Hoover and the Farm Board had led
the farmers into buying as the steer leads the
others TO slaughter.
Last fall Legge again pegged wheat at 70 cents
at the Chicago market Recently his successor,
Stone, announced that the sterilization policy
would be abandoned and there would be no peg for
the 1881, crop.
Hoovor offar HE -o4,,r, 49,. A. W. T-I;.-
possessions, gave out that he was in complete
harmony with the non-stabilization policy which
everybody knew and then somebody spilled the
beans as 10 the reason for the policy in the past
which proved that the Farm Board is helping the
bankers and not the farmers-the spectators and
not the wheat growers.
An Associated Press dispatch of March 80, 1881
''let the cat out of the bag" The story was in all
the Associated Press dailies. We print it:
Washington, March SO.-(AP)- Pres
ident Hoover feels that the farm board is
amply able to define and defend its own
policies and position.
"The decision of the board to discon-
tinue sterilization of wheat prices was
of the first questions brought to the
attention of the president upon his return
from his Caribbean trip.
ct was said at the White House that
the farm board makes its own policies
just the shipping board and the inter-
state commerce commission. The board,
it said, given full power and re-
sponsbility by congress
sit has been the view of many high Of
ficials in the Hoover administration that
the sterilization work inaugurated over
year ago by the farm board had in view
saving of great many banks in the
wheat belt which would have failed if
wheat prices continued TO decline as rap
idly as they had started.
MANY of these banks held loans Sc
cured by wheat at prices ranging around
those set by the farm board for buying
the surplus. These banks now have been
able to clear these loans and readjust
themselves to prices the world wheat
market.
chairman Stone of the farm board
coming back to his desk after trip into
Kansas and Oklahoma, said grain coop
eratives generally had expressed APPROX
al of the boards decision not to stabilize
1881 wheat"
1t wasn't to benefit the farmers that that wheat
was stabilized, but to save the bankers-and the
peg was pulled in he first days of March 1890 Il
save the spectators at the expense of the farmers
The story relates: at was said at the Whit,
House that the Farm Board makes its own poll