Farm Relief, Nov. 17

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Farm Relief, Nov. 17 - HOW THE FARMERS PROSPER UNDER HOOYER Prices of...
HOW THE FARMERS PROSPER UNDER HOOYER Prices of Agricultural Products Are Tumbling, and Campaign rieages Ignored by Congress. Washiutfon, D. C, June 8. While tho administration at Washington is dallvimr with the agricultural pnm i ;n, little nromiso of action w will irive real relief to agncul of wheat and other agricultural products are tumbling at a rate that threatens thousands ot farmers with bankruptcy before the nf tliA present crop season President Hoover called the Re publican 71st Congress into session .T,,o 15 for two purposes, to pass farm relief legislation and to pass a 'limited" tariff revision Din, i ,moso of tho legislation be Villi - v j. inir to relievo agriculture from its j;tro1 condition. Since tno ex t,o .aa,n was called, the drop in wheat prices has cost the farmers not less than $250,000,000, with the fear entertained that prices will go vcn lower and that tno uuu .i.f nmnWrs may reach Willi IT W - 7i" 4 ! finm of $300,000,000, At th middle of the present week wheat on the Chicago (Train exchange had dropped to ,.tinn more than 96 cents per v.i.i i, inu.pst. nrice in 15 years For May wheat, the price was 4ys cents lower than one year g, . for July wheat 46 cents under the price prevailing at this time las year. This means a loss of nearly 50 cents a bushel to the fanner on his j as tli estimate on the WIlvUl. aim winter wheat crop is 625,000,000 l...i.i. i fnnner will suffer UUMli'ia, i.nnMi tli sharn wheat decline loss of approximately $300,000,000 in this vear's crop. For this year's crop of about 625,000,000 bushels ,n. will receive nrobably a good deal less than a dollar a bushel, or less than $600,000,000, whereas tor last year's crop of only 579,000,000 bushels he received $845,000,000. In fact, if the price should stabilize at $1 per bushel on the Chicago market, farmers will actually receive probably less than $600,000,000 for the total crop, because the price the farmer actually receives is sometimes 15 or 20 cents per bushel less than the Chicago price. That the Republican administration at Washington has done abso lutely nothing to make the tariff effective on wheat is shown by a comparison of Chicago prices with those prevailing nt Winnepeg, Canada. There is tariff of 42 cents per bushel on American wheat. If the tariff were fully effective, the price of wheat at Chicago should be 42 cents per bushel above the price at Winncpcg, Canada. But the Chicago prices are below those at Winnepeg. On the day that May wheat dropped to 96V4 cents per bushel at Chicago, the Winnepeg price was 10'2 cents above tho Chicago price, while July wheat was 9Va ecnts higher at Winnepeg than at Chicago. To put it another way, if American fanners marketed the prospective 625,000,000 bushel winter wheat crop through Winnipeg at Winnepeg prices, they would recei've about $60,000,000 more for their crop than they receive at prices prevailing in Chicago. This proves that the Republican administration, in spite of all pledges made during the campaign last year and despite the promise of early farm relief made by President Hoover when he called tho extra session of Congress to deal with the problem, has done absolutely nothing to make the tariff effective on farm products. In the United States there is a duty of 42 cents per bushel on wheat, but Canada has no wheat tariff, yet the Canadian farmers are getting ten cents more per bushel for their crop than American farmers. Losses to farmers are by no means confined to the wheat crop. Corn, r, iz,: t ly. On the day May wheat broke to 96',4 cents per bushel, compared with $144.14 cents last year at same time, May corn dropped to 81 centn per bushel, compared to $1.01 on same date in 1928. Oats dropped to 41 cents, compared to 62 cents same date last year and rye tumbled to 81 cents, compared with $131. With wheat, corn, oats and rye all 1 reacmng tne lowest prices in years, it' year's crops. Bumper crops, iHuuturcu i iugu v-uHu, uu sola ail reecnt break well over a has cost the farmers half-billion dollars on pnees actually below production costs, with no means in sight for controlling the huge surpluses, cannot mean other than heavy losses for every grower of these products. The fanners of the United States will reecive the same cold shoulder from this administration that they: have been given by past G. O. P. rule. Their eyes may open some time.

Clipped from
  1. The Houston Herald,
  2. 13 Jun 1929, Thu,
  3. Page 2

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