Agricultural relief: Agricultural relief

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Multivolume work

Identifikator:: 1831932415

Document type:: Multivolume work

Title:: Agricultural relief

Place of publication:: Washington

Publisher:: Gov. Pr. Off.

Year of publication:: 1928

Collection:: Economics Books

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Volume

Identifikator:: 1831935244

URN:: urn:nbn:de:zbw-retromon-232156

Document type:: Volume

Title:: Agricultural relief

Volume count:: Pt. 8

Place of publication:: Washington

Publisher:: Gov. Pr. Off.

Year of publication:: 1928

Scope:: III S., S. 591 - 642

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Multivolume work

Structure type:: Chapter

Title:: Statement of B. F. Yoakum, New York City

Collection:: Economics Books

AGRICULTURAL RELIEF 505 I am going to call attention to this. From what source must the payment of these bonds, coupons, and dividends be paid? There is only one, by lowering prices paid to the farmers and putting up prices to the consumers. What will be the result of this comparatively new financing now being indulged in by the best financial institutions of the country? It can—I do not say it will, but I think it will— it can, at the proper time, be thrown into a gigantic food-controlling combination, operated with $100,000,000 or $500,000.000 capital. [t is enormous. Now, almost continuously, small dairies and small butter plants and small cheese factories are being combined or absorbed. The cheese industry went in the other day for over $16,000,000. Those are all farm products. They have to buy their stuff cheap. That I did not mention here. Mr. KincHELOE. Mr. Yoakum may I ask you a question there? That is very interesting to me and it is new to me. These companies that handle these farm products take from the producer to the con- sumer? What kind of organization do they have to get it to the consumer; do they sell it through the jobbers? Mr. Yoakum. No; they sell both ways; they sell to the jobbers in certain places under distributing contract, and where they can not get one that distributes they make their own distribution: just handle it in a businesslike way, in whichever method or trade or plan they can adopt to get the most money, they naturally do it. They are well organized. What is the remedy for this growing discrimination against the farmer? There is only one answer—to prevent this custom before it grows beyond control by ‘extending to farmers equal opportunity to meet the situation. This can only be done through farm commodity organizations national in scope which can absolutely control the marketing of their products. They have got to control it. How can this be accomplished in the quickest time and with the quickest results to the farmers? Congress can provide the machinery for farmers to battle organized purchasers through the creation of authority to grant Federal charters to farm commodity organizations incorporated, thus enabling pro- ducers of standard farm commodities to organize, distribute, and market under a nation-wide system of marketing, with boards of control for each organized commodity to stabilize prices and main- tain them. Each organized commodity marketing under F ederal charter should be operated under its own separate charter. Taking the 17 standard food products, that would call for 17, if they reached it. But one organization, Mr. Chairman, does not prevent the others nor force them into it. It must be of their own motion and under their own control, such charters to be granted to producers of com- modity organizations who apply for a charter in compliance with the provisions of the law. i . Marketing commodities under separate charters, each will consti- tute a commercial unit in itself, controlled by a board of its own creation familiar with all its details and conditions, competent to deal with its problems as they arise. The same operating system that would work well for wheat, cotton. or tobacco. would not apply

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