Show j. j r Senator Reed Smoot Will gill Will t i t Introduce Wool o J Embargo Bil Bi t I f For the- the purpose of furthering embargo embargo embargo em em- bargo and necessary n c s ary tariff tari legislation legisla legisla- calculated tion-calculated tion calculated lc to give to-give give immediate re re- r relief lief n the tho wool and livestock industries Indus indus- Industries Indus Indu's tries Fra Frank k J J. J cs t tor of or the N onal l rs association asso asso- association and other western livestock representatives have gone to Washington Wash Wash- ington v It ia la to to have Introduced an an m embargo measure ool Ci on- on ool and Its products lI In id the finan finance e committee 01 of ti tile the senate This bill will be Intro d ced by bt United t t 1 S Senator Reed S Smoot oot Another n th t bill h be plat o the ways wa and and m means means ns co cot t f t the the iOU jt represent r pr for tor nn nn n eme emergency ency to- to t ta n of toc meats meats of h I millions of pounds are are coming into l ie c country un ry m mont Mr said 1 v JL Mr said that b. b tf T- T 1 T Thad had assurances assurances assurances- J from high s aNYE that if It congress congi ss sees sees- seest fit t to pas pass C mb me S ir re as as outlined lh the the pr pres president dent will not veto It J With M. M K IL rice Parsons P Parsons president of the the American National Livestock association Dir Mr Ha only recently re recently recently re- re re- re returned to Salk oake from a trip east cast east j where they organized a 25 0 livest livestock ak ck finance corporal cor cor- on G poo among the banks of New York Chicago Boston and ando the he Twin ClUes Cities of S 'S St St. Paul and and Min Min- o Banks In rather other cl cites yet to 1 ba 18 a heard from In this matter y 1 T J Situation n Acute Ti th the heed for immediate te and adequate action Mr barth said r barth ld J The T s situation t in tho the wool and tes Industries u rles in ge general ral has become sd acute that It Jt Is the consensus consensus consensus sus of of 1 that some som radical measures to t be taken to preserve preserve pre pre- f s serve thine J 3 1 only 1 ii r In n c n b b eJ 0 r r o rho The Tho credit situation has r ached reached the point where it has been necessary ry to resort to extreme measures to prevent Irreparable loss through The wool crop to the extent extent ex ex- ex- ex tent of 90 per cent is still in the hands of the original producers practically without a marketAn market All An animals either cattle or she sheep p that are fit for market and of marketable age have gone to market and a further liquidation is demand demand- I ed It will result In shipment to toI market of the breeding cows the I breeding ewes and immature animals ani ani- I mals mats which means the serious curI cur cur- I tallent of our future meat tion I Large shipments to market o of I livestock mean lower prices lower prices in turn force further liquidation liquidation liquida liquida- tion liou thus setting up a vicious circle This is what has been happening during tho past few months Certain livestock loan companies owning to the uncertain future prospects have forced their clients to excessive liquidation Tho The heavy shipments havo smashed the markets Normally this peculiar situation would right itself naturally but the credit situation being so bad ball and the foreigner finding the opportunity of ot a lifetime by reason of the unusually unusually un un- un- un usually favorable exchange rates Is 18 dumping Into our markets his surI sur- sur I plus The American market Is act actu ally bringing a bonus to tho the foreigner foreigner for tor- eigner of 30 to 40 per cent varying with the tho point of origin of these im Im- im- im ports Quick Action S 'S Necessary The basis basl of the whole trouble as IUS a n. matter of fact i Is the lack of agricultural agricultural ag ng- ag- ag policy polley on the part of the United States government The livestock livestock live tho- stock industry is left to shift for It Itself itself it- it self and to meet the varying Currens currena currens Cur- Cur rens rena of ot adverse trade and finance conditions without any h help lp or consideration consideration con con- whatever on the part of the government Unless lS radical measures are arc promptly adopted by congress tho the w west et will receive a a. blow during the next few months from which it will wUl take ten years to re re- cover vc Tho west has three great Industries industries industries indus Indus- farming tries livestock mining and The farmer with the possible exception exception exception tion of the sugar producer depends almost entirely on tho the prosperity of tho the miner or the tho stockman for his well Take Tako away our livestock production from the great west and the farmer receives a blow from I which he he cannot recover In In- Into tu to the merchant the banker becom involved and the fabric western progress Is Impaired It n t Id manifestly impossible for producer t to continue continue to w when en he is i- i g for fot- his prod less than t th pst st of ot tt This is ex exactly tho the situation yf tOda-yf the livestock industry J Having thus briefly outlined t ti I general situation without going ir h J burdensome details tho the aris arises 1 as to what can be done to sa i arise OU out breeding reeding herds and flocks and continue their productivity The cremedy P c Prem rem remedy y that Is practical t imn i which will resto recto cc d stability and credit is of mere r- r passage an embargo me congress which will prove prove- jumping dumping of surplus foreign m w w. o nd nd meats meats' and their products o o B arket especially R fm f- f oR m 3 DO r allway 1 Vager ger r em Market t sale prices c W la la t lamb on the hoof a a- a ket centers center's has gone on on cent during the On I hand retail retail prices prices in 1920 ha has averaged higher than were in in- in In 1919 The same Is true beef beet As s to wool It i. i Is III a a fact th that t u if some altruistic age should f W furnish the the with his wool the con sur would nover never get enough b benefit know th the difference F For r a. a tariff tt of 30 cents cents' per clean POt poi on w bt would mean about 1 on retail price of an wool all-wool suit suit- i clothes of thirteen-ounce thirteen suit gor goc 1 which is the average weight used i r i s1 suits snits 5 f ol other cr hand this on sn um per repress tU Ol j the difference e between ability and andA ability to produce wool in the U i ed States It means the life Ufe or de de' of one of the stable Industries of t. t Rocky Mountain and Great Pic Pl I. I i areas r EThe i E iThe The question has passed bey beyt the point of party politics It t plain broad business proposition which every man woman and c i west of the Missouri river Is dily dl di Jj ly interested It is not a profit or loss los for a few Interested In a a. certain Industry is a question of the tho survival or orIng p ping ping ing of one of the three great in tries that sustain and vitalize west today I IA A mine or a pi pl when conditions become may close down and when are better can start up aThis a aThis This truly Is a hardship on the tho c rn unity But in the case of livest when a cow is slaughtered or a n agoes agoes I goes goes to the shambles she can n have another calf or lamb Iamb for fort productive plant Is destroyed stockman cannot close dose down i must feed his animals and car card them or else liquidate by to market and this is a calamity Self Preservation Necessity The western senators and regardless of pot pol have havo become thoroughly awaken awakens I tho the situation and have resolved America and her citizenship rights come first Both Utah i i d tors are a unit in their view of of necessities of the case and all T Tern t i ern senators with one or two e 1 are of the same samo mind 1 T Tare are times Umes when self truly mans man's first concern This I pens to be one of those times 1 1 Conditions which e ha bro about the present situation In In stock production are very appa apps The drought of 1919 followed folIo winter most severe the sinai sma wool and meat prices and the tho b hi bl blIng ing fag down of the credit structure awhile at least have proved pro a Q too heavy for the tho Ind lad to bear It If any ono one of the enties ca en caties caties ties had not occurred tho the situ would not have haTe been so critical J cry thing has happened which possibly have happened In theof the of reverses with not one single oring factor in tn the situation e that range conditions are ex exe exand and feed Is abundant and r ably cheap But there Is no mot moi Continued on Last Page t. t r WOOL EMBARGO I Fr m Page Tage One Ope sight eight to buy teed feed I Responsible government officials have failed to grasp grasp the seriousness and necessities of the livestock situ situ- Their idea seems to be that thata a cow or a sheep can can go go to sleep over overa a period of ot adjustment and wake u up again without expense to the owner when needed This In effect Is the government attitude I take off my hat to the broad constructive statesmanship and sterling sterling ster ster- ling courage courage shown by br the tho great majority majority ma ma- of ot bankers In handling bandling this difficult situation They are standing shoulder to shoulder under the bUrden burden burden bur bUr- den and are virtually performing th the e functions functions' of government In m this crisis Q o |