Show I DESCRIBES FAR FARM ADJUSTMENT PLAN Agricultural College President Says Federal Program Seeks Sacks to Coordinate Production with Reduced Exports Export The Federal farm adjustment program program program pro pro- gram Is la partly guided by the thc belief belie that exports of or agricultural commodities ties will not soon recover its volume of live five or ten years ago in the opinion of F. F D. D Farrell President Kansas Agricultural College writing in the August August August Au Au- gust issue of the American Bankers Association Journal Nobody knows whether the farm farma a adjustment program will succeed succeed de de- writes Mr 11 Farrell Its sponsors it frankly as an experiment It seeks to socialize agriculture at least to the extent that farmers in what is believed to be the public interest will restrain their production activities and that processors distributors and consumers consumers consumers con con- sumers will contribute something toward toward toward to to- ward paying farmers for exercising this restraint Tho The adjustment programs programs pro pro- grams definitely are based on the fact that prices are determined primarily by supply and demand The They also are based on the assumption that the export export export ex ex- port business In agricultural commodities ties will not soon return to its volume of five or ten years ears ago ago o. o Dependence on o on Public Support The plan offers wheat prices Insurance insurance in In- for 1933 1934 and 1935 for forthe forthe the domestically consumed portion of or ortho tho the wheat crop The insured price is to tobe tobe tobe be sufficiently high to give the domestically domestically do do- consumed portion of r the wheat t crop war pre-war purchasing power I If the plan is Js as effective as its sponsors sponsors spon spon- sors SOlS hope it will be the reduction in supply may influence wheat prices so that the entire wheat crop will have war pre-war purchasing power I If the adjustment program succeeds succeeds suc suc- coeds its launching probably will mark the end of an era of or extreme individualism individual Individual- ism in agriculture in the United States says Mr Farrell Recent fundamental changes led Secretary Wallace to say What wo WG really have to do is Js to change th the whole psychology of the people of ot the United States This is a large order It Involves th the whole program of ot farm adjustment as well as the larger national national national na na- na- na economic program of which farm adjustment is a part If It th the people decline to participate In th th- program to the extent necessary to tv give the experiment a fair trial wo shall shan never know whether farm adjustment adjustment adjustment ad ad- as now proposed would hay have succeeded or not if it had been given liven givena a n fair trial |