Evening star., 1932-04-29
WHEAT SALES FUND
DRAWS OPPOSITION.
Head of Produce Exchange
Vigorously Fights McNary
Export Aid.
BY the Associated Press.

BY the Associated Press.
"Unalterable opposition" to the Nc
Nary resolution to finance foreign sales
of Farm Board wheat and cotton was
telegraphed to the Senate Agriculture
Committee today by Herbert L. Bodman,
president of, the New York Produce Ex-
change.
The measure carries out an admins
tration-backed plan to supply 100000
600 from the Reconstruction Corpora
ton to finance the sales.
In telegram to Senator Thomas.
Democrat, of Oklahoma. Bodman said
lin effect it takes another Sl00, ,O00. 900
of our taxpayers money and virtually
presents it to foreign governments"
I'VE consider the proposal a grave
injustice to the American grain mer-
chant. who is expected to pay taxes
and at the same time continue to fur
nish employment to large force
of United States citizens"
Won't Increase Consumption.
Bodman's telegram asserted "it is
our sincere belief that the selling Of
wheat on credit will not increase the
consumption and we emphatically
challenge any statement to the effect
that by the use of United States Gov
ernment credits wheat may be sold for
export in channels that do not inter
fere with the regular business of the
United States grain merchant"
The message assailed Chairman
Stone of the Farm Board.
Chairman Stone is quoted as refus-
ing to sell surplus to Americans for
cash." it said, but stating that our
farmers salvation lies in domestic mar
kets.
1T appears inconsistent that he
should refuse to sell wheat surplus to
United States citizens while lauding
domestic markets for farmers and yet
advocate practically a gift of this sur
plus to foreign governments which
for their purchases Of Argentine, Aus
tralian, Russian, Danubian and Cana
dian wheats."
Farm Units Agree.
Farm relief in the guise of the equal
ization fee and the export debenture
plan, proposals which have brought
hard fought battles on Capitol Hill in
the past, was presented TO the Agri-
culture Committee yesterday by ag-
ricultural spokesmen as a remedy for
the farmers ills.
In conjunction with these two IA
miliar figures from the past came a
broad program presented by the Amer
ican Farm Bureau Federation, the Ma
tional Farmers Union and the National
Grange plan to insure the cost of
production on a basis of domestic con-
sumption needs.
Agree on Program.
The program, agreed upon by the
three and written into bill form. ad-
yances the basic ideas long championed
by each singly, and was presented at
the committees conference with farm
and Government leaders seeking a re-
lief plan.
To insure the cost Of production, the
plan proposes an allotment program.
The amount each farmer could sell IN
the domestic market would be fixed and
the price established at a point equal
to the cost of production, including
labor and interest on investment, under
schedules arranged by the Farm Board,
which would have general supervision.
Baiance for Export.
The balance could be sold for export.
but without the production cost guar
antee. and the Farm Board would have
power to declare an embargo when it
considers imports would handicap the
allotment plan.
The equalization fee would be put in
operation from time to time by the
board. while the export debentures
would be half the tariff schedules, ex-
cept on the following:
Corn or maize, ~ cents a bushel;
rice - cent a pound; wheat. 81 cents
a bushel; cotton, cents a pound; to-
bacco, cents a pound.