| Show FIND CREDIT MUCH EASIER Federal Reserve Board Reports Conditions on Banking WASHINGTON Aug AUB The I-The 1 The present pre strength and liquidity ot 01 bank banks and the added facilities for agricultural financing assure asure sup sup- supply supply sup supply ply of ot 01 QI edit adequate to meet mett this years seasonal requirements In the opinion of ot the federal e C bond The rhe boards board's view slew made public Tuesday night In a monthly busi busi- business busi- busi business ness fleas summary emphasized how bow bowe however e ever eser er that credit canot make a ii market markets s where here none exists it add add- added added add added ed that the agricultural outlook is conditioned by the world orld sup sup- sup sup sup-pi pi PhI of ot leading farm products and an anthe L the buying po power poser or of ot consumers both and foreign during 1 the comIng lear vear tar The Tho summary p called attention to the hand to mouth hand mouth purchase by Europe and that such ouch 2 uch a situation no- no ne necessitated financing the he American products until the Co foreign reign demand Increases In sun e Ing the agricultural situation the board stId It It Is still too early to estimate e en wills approximate accuracy the to the farmer from froni the approaching approachIng har harest harvest est Neither the of ot production nor the price through the of marketing cin be definitely known It Is est t evi evident dent however ho that with Ith the Im Improved Ins Ins- pro proved cd credit facilities and the strong poI position lion of ot the banks the tho credit available Is adequate to pro pro- pro provide vide side tor for the needs of ot orderly mark n TO r the 1 he summary a asserted that the 10 cred prices of ot agricultural ala sta- staples sta staples ples pies had haul meant mant for the farmar that the selling price ot of o his output as as of ot line with sith the price ot of things he bus buys There has been some adjustment of the In the last t l months accord accord- accordIng according ing lug to the board but even esen then It Ite e the tho return to the firmer Cumer has ha been Leen the direct outcome of ot th the orld supply and world orld demand demard CI fixes fles es substantially the same price in all countries for hobo thoe agricultural a staples are sold In world orld markets the summary said bald and this continues to be bo true e even esen en under the d CUI currency rency conditions Tire TIle return to the American far far- farmer farmer far farmer mer 1 Is therefore the outcome ot of orld supply and world orld demind of oC which the domestic lon and demand constitute oni a II part While foreign demand Is more Important In the ot of some agricultural than ot of others In the aggregate the do- do domestic do domestic market consumes much the proportion of ot our lural tural pi The domestic dc- dc Y Y dc-Y mand for farm products during clueing tiu th past til-past past year ear ear has Jas increased as a 0 result ot of the las largo buying po power poser er of ot In- In Industrial industrial In Industrial workers from Cr ull- ull uller er ci employment ment and wage stage advances s Mth Ith the p ely large earnings of ot workers the ef- ef effect ef effect feet of ot a Iise use In food prices upon the family bu base bae been to mci InCI else the exporter for food tood rather than to reduce eon con consumption con consumption For JoOr the ultimate con con- consumer consumer consumer sumer In th the United States the tho I result of oC r relatively el low lost 10 food prices therefore has been to in- in increase In crease the I available a for the purchase of ot other commodities and for tor aa savings Ings loi the this hs has meant that the lie selling price of oC ohis his product products ha has been ben out of ot line lineA Ith A ith the prices of ot the things ho he bUI bir a S UJ rS r In this respect there has hal been beNI beena beNIn n a better adjustment during the past year yeal as a II whole hole though agricultural prices ha base hae e shored shared In the In tho general Ie lose 1 of ot wholesale pricer th tIre the e tall fall In Inho tho prices of ot ss wheat heat an and hog hogs at- at attracting at attracting particular attention Price mo In th the sensitive sensitise e highly produce marl markets at this season of ot the year ear are n apt pt to re- re re speculative reflect lect the tho attitude of ot the specula specula- tl tive tle e dealer dellier an end and are not arl indicative of ot the prices that will wilt bo be realized by the American farmer dunn during g his marketing crop-marketing period Ith to 10 the present sit sit- sit situation nation this Is particularly true In view of ot the many uncertain factors must bo be taken into account In estimating at this time tho the mar nun ket market outlook for agricultural prod ucla products |
