Full text: Agricultural marketing revolving fund

Now, we are not here as critics, and we are not here to object to 
anything, but we are here simply for the purpose of suggesting 
that some way might be found to revitalize that normal trade buy- 
ing power. No economic study has ever been made of the effect on 
the normal business of the Government’s experiment in market 
stabilization, and it is our thought that if such an investigation 
could be made, a way might be found by which this enormous 
established market machinery, which is financially able, and man- 
aged by the finest trained minds in the world for handling the 
cotton trade, could be brought into normal functioning. That great 
machinery might be used to great advantage in solving this market 
problem, which grows worse and worse and worse. We had another 
big decline in the cotton market yesterday, and we have had another 
one to-day. Heaven only knows where it is going, because there is 
not a sufficient absorbing power for cotton. All of this great 
marketing machinery I have described has had to stand aside, 
because it does not know what is going to happen. Therefore, we 
aave come here, with all courtesy, to try to find a solution. 
The Cmatrmax. Have you ever taken this matter up with the 
Farm Board? : 
Mr. Parker. Mr. Chairman, we have had some meetings with 
the Farm Board. We have discussed the matter in many ways. 
We have tried to present the matter to the public and to the Gov- 
arnment, and we do not know what else to do except to come before 
you gentlemen, who have this matter under consideration, and 
simply suggest to you that a study be made of this problem. You 
have this appropriation before you, but we have not come up here 
to protest against the appropriation, and we have not come here 
to ask for the repeal of the Ifarm Board act, but we have come 
simply to make some constructive suggestions. We simply suggest 
that a proper investigation, which has never been made, as we under- 
stand it, be made into the economic effect of what the Government 
is doing. Something should be done, as TI have said. to fry to 
~evitalize this buying power. 
The CarMax. Do you have in mind the character of survey that 
should be made, or have you formulated any plan that you think 
would bring about the result that you desire? 
Mr. Parker. We have some considerable equipment, and we will 
place everything we have got at your disposal. We will place all 
the information we have at the disposal of the Government. I 
think that we have clear-thinking men, as capable as any in the 
country, and if they could come up and sit around the table, 
and discuss the cause and the effects, in all their various angles, 
[ think we could reach a conclusion that would at least help in lift- 
ing some of the depression that is now over the country and over 
the world. That is not only true with regard to the growers 
of cotton, but to the manufacturers of it, who are large employers 
of labor. That whole machinery has been interfered with, and it 
is not functioning in a normal way. We are not getting as much 
benefit from it as we might have, and we now need the benefit of 
every possible thing that can help us. As I have said, there is a 
great potential buying power that is not functioning normally. 
Now, this is too big a problem to discuss at great length with you 
gentlemen. You have not the time to listen to it, and we did not

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