The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-05-31
Mood of the Midwest
New York TimeS)

In the May Current History Mr..
Theodore Christianson, a Republican
who was six years governor of Min
nesota, tries to show us, disinterested-
ly and without intrusion of personal
opinion, the general feeling of Mid
Westerners in the present discontents.
True to its old habit of experimenting,
which so differentiates it from the
East, the Middle West wants to try
some new device. The Midwest
wanted the McNary- Haugen plan.
The East wouldn't have it. The farm
ers resented this, not because they
were sure that the project was cure
for the agricultural surplus but be-
cause they thought they ought to
have a chance to make the trial, at
their own expense, under government
sponsorship. Instead of getting what
they wanted, they got the Farm Board
and the Grain Corporation, which
they didn't want and didn't believe
in.
Contrary to the common Eastern
impression, low and Improbable
prices enlarge instead of reducing
acreage. To pay taxes and interest
the farmer must plant more. Thus
the spring wheat acreage of Mime
sofa, Montana and the Dakotas this
year will be nearly 100000 acres
more than last year. To the protec-
tive tariff the Midwest has stuck
steadily, but the Hawley-Smoot dose
was a little too much. 1t Is begin
ming to sink into the farmers mind,
since he lost the foreign vent for his
surplus. that Europe can pay her debts
to the United States only in goods. If
these are shut out by the tariff, Eur
ope will have nothing left to buy our
surplus crops with. The many bill
lions of foreign dollars poured into
foreign bonds and railroad and indus
trial investments represent to the
farmer a policy of unwisdom. Why
wasn't this money left at home to
make credit cheap? Investors and
farmers would both have been better
off, Bills introduced by Western sem
ators to refinance farm mortgages at
very low rates get their support at
home from the readiness OF the gov
eminent to lend money abroad after
the war ana more recently to HELP
banks and railroads.
The Mid-Western farmer regards
| the Reconstruction Finance Corpora.
! ton rather as preventive of further
and worse disasters than as remedy
for the disease from which the coun.
try suffers. The banks, railroad com.
panies, insurance companies "hav'
been given their respite" Is there
nothing more to be done? Only wher
prices go up can money be safely Dor
rowed or lent. In the view of TIT
Mid Western farmers increased com
modify prices are 1.-The absolute pre-
requisite to return Of prosperity.
Production can't be cut so long as low
prices force the farmer to increaS
production. Price-fiXing by law ha
had its friends, but it is doubtful
remedy. Initiation is now the expe
dent most talked about. There is n
agreement yet about the means. II
will not necessarily be silver, although
the shade of william Jennings Bryal
is again moving over the prairies.
It might come through the Glass
Steagau act, If the Federal Reserv
Board were not too conservative t
employ the power granted it by tn
new law.
It now takes 1900 bushels of whea
to pay the interest on a $4,000 mort
gage; In 1920 it took but 240 bushels
Mortgages are not being paid. Their
will be no restoration of buying powc
until prices get high enough to pa
debts; and till that power returns un
employment must continue. $50 sa,
the economist of the wheat countr
and he Is gaining many followers
| Wouldn't initiation defraud the cree
itor? No, answers the farmer. Il
lent dollars worth 100 cents. It woul
be unjust If he should get back do
lars with purchasing power OF q
cents.
There is abundant evidence tn
such ideas are getting into the agr
cultural mind. 1t will not do to Il
more or ridicule them. They mu
be dealt with patiently, tolerant
and-we hope--with convincing argl