The Nonpartisan Leader Newspaper, September 20, 1920, Page 11

While Farmers’ o ~ Washington Bureau, Nonpartisan Leader, ANNING, it seems, is an essential industry that is entitled " to : generous treatment by the federal reserve - board. ~ Unlike the wheat growers who “falling market, the canners are able to i make their wishes. felt in the right . fquarter in the national government when they need credit. The National Canners’-association, dominated to a large degree by the Big Five meat packers, as Francis J. Heney’s inquiry disclosed,announces the favorable attitude of the federal reserve ‘board inz‘a special circular. They have a letter from W. G. Hard- ing, governor of the bhoard, urging a favorable action on credit for the can- ners. The results have been “entirely favorable.” . Harding’s letter is addressed to J.- Harry Covington, counsel for the Na- tional Canners’ association. letter the head of the board says: “It is evident that there are certain seasons. of the year when loans of a particular kind must be made in large ~wolume and are entitled to more con- sideration than would be the case at other 'seasons, this being dependent: upon’ the -character of the industry. There is a wide difference between the granting of credit by banks for crop- .moving:purposes at.a time when crops are moving, ‘or for canning. or cold storage purposes at those seasons of cold storage or pass into the hands of -dhe canners, and the making of(loans on agricultural products at periods .when they should be marketed and not hoarded, or in lending-on canning or cold storage products when they ought 4o be sold to jobbers and retailers in- stead of ‘being. held indefinitely fo: higher p_rices; = CANNERS “ENTITLED” TO SPECIAL CONSIDERATION “If certain farm products should be put into cold storage or sold to can- ners at certain periods of the year in order _to secure a uniform supply throughout the year, it follows that ~Joans for these purposes -should be made freely at seasons of the year when such products are available for such purposes.” Thus far the letter is clear enough. Tt declares that bank credits ought to be employed to keep the middlemen’s business going, and not to help farm- ers or others to hold their foodstuffs for a higher market. “Jt is the board’s view,” the letter goes on, “that banks in granting ac- commodations should take into consid- * eration the liquidity of the loan, and that loans; even for larger amounts, which are necessary for the production mnd distribution of essential commodi- ties and which will be paid for in full in the eourse of three or four months, should be lgoked upon with greater ~ favor than loans for smaller amounts which may run for indefinite periods or which may be sought merely for the purpose of withholding, for higher prices, goods which the market is ready to absorb.” : .The letter closes by stating that “it “is apparent that applications of can- ners for accommodations-at this time _are entitled to greater consideration: than at any other time of the year.”: This letter was written, with Gover- nor Harding’s consent” that it be shown to the banks, at the time when are forced to throw their grain on a In this the year when goods naturally go into- Canners Get Plenty of Credit Loans Are Being Interests Get Partiality @ - - Called in, “Big limits.” It has been shown the Banks, and the National Canners’ association .-committee reports’ that the bankers agree to take care of canners’ paper “to the fullest extent to which the member banks are entitled.” - The federal reserve banks are like- wise reported to be “fully alive to the essential canning, industry and the im-. portance of financing its activities dur- ing the production season.” CANNERS ASSURED R “COMPLETE CO-OPERATION” The committee says that it seems clear that “banks accustomed to make advances on -eligible canners’ paper can be assured of complete andeffec- tive co-operation by the federal re- serve system, and that no canner’s ac- “tivity need be limited durin& the pres- ent season on account of any restric- tive regulation of the federal reserve system,” provided he has the requisite financial soundness and the bank is not already “in an extended condition” as to loans. This cheerful announcement by the canners’ combine, based upon the dis- cussion between their.counsel, Coving- ton, and the head of the federal re- -serve board, indicates that the mid- dlemen in this time of finanejal stress are to be looked after, even though ~farmers are caught by the -freight traffic blockade. The situation will remind the cattle- men- of the announcement by Hoover’s man at the National Livestock conven- tion in Denver, during the war, that the meat packers must be encouraged, and hence would be given a chance to make-9 and 15 per cent. SO YOUNG TEDDY'S POLICIES Editor Nonpartisan Leader: - Down here in Nebraska Governor McKelvie seems to believe all unrest can be cured by more work and more produc- tion, but I am going to put down “my slop pail” and strike just long enough to call the attention of the farm women and the working women of the cities to part of the speech of Theo- dore Roosevelt Jr.: ; “There is another matter that con- fronts us. It is called bolshevism, red-flag anarchy. Those who preach or practice those doctrines-are simply criminals: and should 'be treated as such.' Don’t argue with them. Don't engage in academic debate. Treat ’em right. Treat ’em rough.” - The record is that the crowd applauded vigorous- ly.- Beatrice .may get such comfort out of this as she may find in it.. I would like to ask Mr. Roosevelt what he means by treating criminals right and rough without giving them The “In a chance to argue or debate? constitution of Nebraska says: all criminal prosecutions the accused-~ shall have the right to appear and to defend in person or by counsel * * * : and a speedy public trial by an impartial jury.” - " ~Women voters, keep your eyes on the I. W. W. politicians and law-break- ing political gangs. Let’s “treat/’em right” through the ballot box. MRS. EMMA PAUL. 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