The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1933-11-10

ducers will want to sell badly. so bad
iy, in fact, that they will take % cents
a bushel for the wheat. Will Ameri-
cans deliberately pay 81 when they
can get wheat for % cents, or will
there be tariff wall built so high that
no wheat can enter this country at all?
And If there Is that tariff wall, how
will foreigners buy our goods, some of
which they obviously are going to
want? The circumstance Is that I'M
less they can sell something here, they
will run out of money eventually and
cannot pay for purchases In America.
That situation will run through our
entire structure of commerce and bust
ness.
In fairness, 1t must be said that If
there can be worldwide control of pro-
duction and if Industrial production
can be stabilized and If employment
remains the same, then certainly the
government can manage" its currency.
There is much discussion in Wash
ington, however, that the gold pur-
chase plan constitutes the first step
in a general imitation of the currency.
On the face of things, it would seem
that imitation is certain. On the other
hand. Mr.. Roosevelt is regarded by
known him through the years, as an
individual WHO wants and will have
sound money. They are saying that
even now he is leaning away from in
flation because he has seen what in
flation did to Germany and what it has
done to every other country attempt
ing it. Sooner or later, their currency
became worth only the value of the
paper as script or waste, or souvenirs.
There seems to be no doubt that fox
farming is an important industry. 1t
has at last been rec
Help for ognized as such by
e. Eo.-s the farm credit adj
ministration. T h e
fox farmers, it seems, have suffered
like others during the depression and
have to have help. They are going to
get it, too, from the farm credit ad-
ministration. Here is the announce
ment, officially made by the Depart
ment of Agriculture:
considering silver fox raising q
business that calls for long experience
and special equipment, the farm credit
administration has informed the De-
partment of Agriculture that it plans
to make loans on silver foxes as pri-
mary security, but it will make such
loans only to those operators who
have specialized in fox farming, have
proper equipment and have shown ex-
pert knowledge in the general care and
feeding of the animals. Each appli-
cation, 1t is added, will be considered
on its merits, and in cases where fox
farming is incidental to general farm
ing or other business operations, silver
foxes may be considered as additional
security, within reasonable limits"
In other words, the farm credit adj
ministration has decided that a silver
fox is just as good as a horse, or q
COW or a pig as security for govern
ment loan, and regional credit corpor-
ations have been advised they may
make loans on that basis. After talk
ing with some Of the Department of
Agriculture folks, am inclined to the
opinion that possibly the fox pelts are
better security than some other farm
animals. Certain it is that individuals
who can afford such luxuries still have
money, and they are about the only
ones in the country still having it.
The truth of the old adage that ''pol-
itics makes strange bedfellows," never
has been better demonstrated than I'M
der the present administration. There
is considerable comment on these con-
ditions among Washington observers,
and Republicans are overlooking with
mirth about the actions taken.
1--WE Republicans have been enjoying
this one phase of the administrators
recovery efforts" said one Republican
leader. "Just think of it! Here is
political party that throughout its his
tory has argued for low tariffs and has
criticized those of us who have insist
ed there must be protection for home
industry. That same party, having
full responsibility for the government,
now is turning to high tariffs In num-
Der of cases and has even gone to the
extreme of laying an embargo on COM
petitive goods from abroad. Shade of
Boies Penrose, (the late Senator Pen
rose of Pennsylvania the thing is
laughable."
And the Republican leaders asser-
ton about use of the tariff by the
Roosevelt administration was true.
More than that, it is apparent that
there will be additional use made of
high rates that can be invoked under
the flexible provisions of the tariff
laws, provisions which the Democrats,
when in the minority in congress, Wig
orously opposed.
For example, there is move to OBJ
tain an increase In the tariff rate on
rye. The flexible provisions permit an
ihNACooO Va w pei NChL OfCl tHC ldIC
fixed in the law upon recommendation
of the tariff commission. The rye
tariff is 15 cents bushel, so that If
the tariff commission finds production
costs are higher in the United States
than abroad, the commission can so
advise the President and he will pro-
claim rate of 221z cents in effect
Then, there is the power which Pres
ident Roosevelt gave General Johnson,
national recovery administrator, to lay
an embargo against Importation of
merchandise that is competitive" in
character. That means, If General
Johnson finds cheap foreign labor or
subsidies or other such factors have
resulted in foreign production far be-
l. 4