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Show WALLACE SEES j CRISIS UNLESS RATES ARE CUT 1 Secretary of Agriculture 1 Shovs How Freight Costs Affect Nation SEW YORK, April 2$ Unless there Is a quick reduction in railroad frclgh' Iratea to "about pre-war levels" or ths prlce of agricultural products increase suffieltntly to eriual the rate advance, there will be profound "readjustments " In agricultural production, involving I readjustments in Industry as well. See-i.tar.v See-i.tar.v W.illao of the ajfru ultural department, de-partment, declared In an address to-before to-before (lie N'ew York Academy of 'o'lltlcal Science. The 'blighting effect ef-fect ' upon agriculture of the present I level Ql freight rates the secretary 1 1 hardly be comprehended." h t ii' regarded us the probable effects of present rates continued for anj length of time, were summarized tv Secretary Wallace as follows. , OR4i i HER l m:mi Its First lo favor the farmra of youth A:i..tIi a and Australia ut the expense of our own farmers. Suhstnntlal decline in ocean rates emphasized the disadvantage Of he American farmer, h pointed out). "Second, to keep prices on farm1 products ai the larpe surplus producing produc-ing elates at figures lower than are 1 iied by the Investment in land and, equipment and cost of production "Third, prolong the period of dls-iiista dls-iiista ion among farmers. and en-COUrage en-COUrage advocates of econonjg fallacies fallac-ies fif all sorts. 1 "Fourth, improve the position of . tern truck and fruit growers, but add considerably to the cost of milk 'and dairy products because of Ihe ad- I 'vanced prices of hay and coarse!' grains noceasarlly shipped In from the 1 west. Mill'! TO W EST "Fifth, gradually shift Industrial enterprises en-terprises westward, .nearer the surplusi food producing territory. 1 "Sixth, promote section rather .than national spirit and make more, ami mora difficult national policies 1 with respect to International affairs'' Present freight rates Impose a lax 1 on the fainiei of the xuiplus produc- ling states. Mr. Wallace said. The most hopeful nlgn of the pres-lent pres-lent time Is the apparent recognition of the railroad management that oun ipreecnt high rates cannot be coming ued without disaster to the railroads themselves and that rates must come (down to a point not far. If any, above; jthe pre-war levels. . r |