Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-05-17
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acreage down to a point where it would
practically eliminate the exportable
market alone would require a IS per
cent reduction of acreage The cam
paign Of educs ton this year by the
Farm Board to bring about curtail-
n1ent Of wheat acreage will not really
be fairly Judged until the Winter wheat
planting for the 1882 crop is made.
U. S. Expectation Not to Cease.
1t would not be fair to say that the
American wheat growers or the Govern
ment Is contemplating relinquishing en-
t1rely export wheat business. The United
States is cot anxious to step out of this
foreign business and turn it over en-
tirely to its foreign competitors But
1t seems clear that If the American pro-
duction of wheat ever did get within
hailing distance of the domestic con-
sumption OF that commodity, the pro-
tective tariff on wheat levied by this
Government would become immediately
effective, AZ cents a bushel
Just what the American farmer will
have to take for his 1881 wheat crop
cannot be predicted today. Weather
conditions in this country. in Argentina,
Russia and other countries will have its
effect on the price of wheat Some be-
lieve that wheat prices will go below
those for the 1880 crop.
Progressive Committee to Meet.
Senator Borah of Idaho announced
last night that he planned 10 call a
meeting OF the Farm Committee of the
Progressive Conference some time after
July 1, TO be held IN the West. perhaps
Chicago. The Idaho Senator is chair
man of the committee, which Is COM
posed Of a score Of members, and was
appointed at the March meeting of
Progressives held here.
Senator Borah said that he did not
know just what kind Of program for
farm aid, particularly for the solution
of the exportable surplus problem, would
be worked out. He himself has been an
advocate of the so-called 'debenture
plan" rejected by President Hoover
Senator Borah did say. however, that he
regarded the answer of Chairman Stone
Of the Federal Farm Board to the pro-
poSal OF Mr.. Wilmer sound. although
he criticised the board for not advanc-
ing an alternative plan.
Wheat to Be 1882 Issue.
What happens to the American wheat
crop for 1881, particularly with regard
TO price, is expected to have no little
bearing On the national political cam
paign next year. The Democrats have
asSailed the Federal farm marketing act
and the Farm Board, set up under the
Hoover administration. So far, friends
Of the board assert, the Democrats have
advanced no adequate plan of their own
TO meet the exportable surplus problem.
But If the price for wheat to the farm
ers is low, or lower than it was last year,
the party In power is almost certain to
be the butt Of the farmers resentment
when it comes time to go to the polls.
Former Representative Franklin W.
Fort Of New Jersey, who played q prom
inent part In drafting the act which
created the Farm Board, came to the
defense of the board in a statement is
sued last night through the Republican
said, had been attacked mainly because
of its efforts to stabilize the prices Of
wheat and cotton through its stabiliza-
ton corporation activities, buying I'D
millions of bushels of wheat and large
quantity Of cotton. Mr.. Fort insisted
that hundreds Of millions Of dollars had
been saved TO the wheat and cotton
farmers by these operations, and that
If the operations had not been UNDER
taken at the time hundreds of banks
would have failed in the West and
South, with disastrous consequences 70
many communities and to the country
at large. He said that last year Rus
sian wheat was dumped into the world
market for whatever it would bring
and prices started nose dive.
Board Saved Banks.
Banks west Of the Mississippi" con-
tinued Mr.. Fort were carrying over
100, 600 bushels of wheat, and prob
ably as much more east of the river.
Prices in Winnipeg and London were
breaking cents per day. In one day 81
banks closed In one State alone, and
panic ruled everywhere. If those wheat
leans had been called, the price would
have broken to so cents bushel. Bonds
were almost unstable, except at ire
mendous sacrifices.
The day after the 50 banks closed the
Farm Board entered the wheat market
again. For years, Liverpool wheat, re-
hecting freights and other costs. had
sold from 10 to IS cents a busl1el above