Show GRAIN CORPORA nON REPEAL FlA FLAYED YEn BY BARNES Wheat Director Brands Bill Billas BillI I as Repudiation of ConI Congress Congress Con Con- I gress Pledge i r i S' S SH NEW EW Y YORK RK F Feb b. b 7 7 Julius Julius H H. Barnes Baines United St States tes wheat director I tonight made mad public a letter to Senator Gronna in which h he termed the latter's lat lat- at- at tei's teis bill for the repeal of the wheat guarantee act and the aboUt abolition ion of the grain corporation as a direct ti tiOn n of the pledge made by congress to the wheat producers for the crop of 1 1919 91 9 FAVORABLY REPORTED Senator Gronna's bill which has has has' been Jeen favorably reported by th the s senata n te agricultural committee repeals all government control over the price of wheat and requires the tim tion to wind up its affairs affairs- without de delay lay 4 4 Mr Barnes asserts that at a time I when no one can accurately predict the trend of prices Sena Senator tor Gronna ap apI apparently apparently ap- ap feels such c confidence in his own judgment that the farmer will I benefit by the withdrawal withdraw l of government govern government ment merit stabilization that h he hO would immediately immediately im immediately im- im mediately take from the wheat producer producer producer pro pro- ducer the protection of ot the th billion doliar dollar dollar dol dol- lar guarantee which congress has pl pledged Itself to give ive until June Jund 1 1 WARNING GIVEN The wheat director gives warning warning that by abolishing t support congress may precipitate a a stilt still further I decline in the price of r wheat even ven be below be low that of the guarantee price He Headds Headds Headds adds that only th most colossal egotism egotism ego ego- I wo would ld presume to forecast the course cours of prices In the face Cace of worldwide worldwide worldwide world world- wide unsettlement which within the past few days has hai wrecked the United I States export trade by total collapse of overseas finance If It congress should repudiate its own pledge to the farmer Mr Barnes adds i the possibilities of depreciation in vali value value val val- i ue after the withdrawal of the government govern govern- government I ment guarantee are such that 6 I farmers will ask congress by what I right it repudiated the pledged national nation nation- al guarantee on the underlying foundation foundation foundation foun foun- I dation of which the influence of supply supply supply sup sup- ply and and demand ha has has' built an average premium of ot 30 cents per bushel I |