Salt Lake Telegram | 1923-02-28 | Page 20 | Stabilizing of Prices Depends on Farm Credit

is TAB III ZING Of PRICES DEPENDS ON FARM CREDIT Northwest Delegates Unable to Compromise Government Govern Govern- Government ment Attitude With Renewal Renewal Re Re-I newal of Foreign Loans ST ST. PAUL Minn 1 Feb 28 By A. A P. P The The relationship between al credits the federal reserve board and the agricultural credit system was discussed today at the concluding session session ses ses- session sion of the the two-day two Northwest agricultural agri c cultural price stabilization conference I IThe The resolutions r committee appoInt Q yesterday worked most of the night drafting Its Hs report for presentation to the conference today These resolutions resolutions resolutions were expected to propose concrete means for for- stabilizing prices of agricultural agricultural agri agri- cultural products John R. R Mitchell a member of the federal reserve board declared The federal reserve act was never Intended as a panacea for all economic Ills It It was adopted solely for what I It Is a banking reform which would Ithe put the commercial banking system o of ot othe f the he country In a better bettor position to serve serve the needs especially the short term credit needs of at agriculture commerce commerce commerce com com- merce and Industry he added NO PRICE REGULATION In no sense was It planned as a aprice aPrice price regulating machine The federal reserve board approves approve s of the agricultural credits bills bUls now be before before be- be fore congress Introduced by Senators Capper and Lenroot Mr Mitchell said Addresses on agricultural credits by E E. W W. Decker Minneapolis banker and J. J G. G Haney Raney of ot t the e International Harvester Harvester Har Har- Harvester vester company w were re followed by general general general gen gen- eral discussions led by L. L B. B Hanna former governor governor- of North Dakota and E. E H. H Cunningham secretary of ot the Iowa farm bureau federation Cooperative marketing said V. V E E. Anderson of Wheaton Minn has gone gonea a long way toward solving the farmers farmers' farmers farmers' farmers farmers' farm farm- ers' ers problems In certain areas Ultimately Ultimately Ultimately Ulti Ulti- It will be extended to every commodity produced on the farms In America he continued GAP MUST BE FILLED But to fill the gap between th that t day and the present Mr Anderson as asserted asserted asserted as- as J If agriculture Is to survive and this nation is to stand something will have to be done by the government Itself In stabilizing th the price of agri agri- agricultural agricultural cultural products Why should not the government do the same for agriculture agriculture ture that It has done and is now doing for for- all other Industries and labor A nation that can lend to foreign countries and extend such loans and maturing Interests for tor Indefinite periods can claim no excusable excusable excusable able grounds for failure In this emergency emergency emergency emer emer- gency to extend the strong arm of ot relief re relief re- re lief to the suffering of millions of American farmers Samuel Dunn editor of the Railway I I Age spoke on What Shall We Do With the Railroads Delegates from Minnesota Wison Wison- Illinois Michigan Montana Kansas Kansas Kansas Kan Kan- sas Nebraska Iowa North Dakota and South Dakota attended the conference