WHEAT SURPLUS

Dominion, Volume 24, Issue 54, 27 November 1930, Page 11

WHEAT SURPLUS

Farm Board’s Move RELIEF FOR GROWERS Huge Purchases Made By Telegraph—Press Association— Copyright. (Rec. November 26, 8 p.m.) Washington, November 25. The continuance of the Farm Board’s stabilisation efforts centred round the purchase to date of over 100,000,000 bushels of wheat, was virtually assur ed when representatives of the National Grange, the American Farm Bureau Federation, and the Farmers’ Union approved of the purchases as “the best immediate remedy for agricultural depression.” Threatening Surplus. What the Farm Board will eventually do with its wheat is not discussed, but it is indicated that this matter is felt to be secondary to the immediate problem of withdrawing from the market a surplus which threatened to ruin grain growers. Export is not contemplated now, as it would involve enormous losses in the cutting of prices to meet foreign competition. Mr. L. J. Taber, Master of the Grange, stated that the Grange proxwses “to give the Farm Board a chance, and at the same time to seek equality for the farmer through tariff debenture and kindred methods.” “Give Every Nickel.” Senator Wheeler stated after the meeting, "I think it would be unwise to try to pass a debenture proposal this session. I would give the Farm Board every nickel it asks for in order to give it a full trial.” It is understood that as a result of the establishing .of an understanding with the agricultural organisations, under which the latter will' not press for legislation during the short session of Congress, the Government is planning to advance at least 150,000,000 dollars to aid the Farm Board. It is intimated that the Administration favours Increasing the sum to 250,000,000 dollars.