WHEAT SURPLUS

Hawera Star, Volume L, 27 November 1930, Page 5

WHEAT SURPLUS

FARM BOARD’S MOVE RELIEF FOR GROWERS HUGE PURCHASES MADE. (United Press Association —By Electric Telegraph Copyright..) WASHINGTON, Nov. 25.

Continuance of the Farm Hoard’s stabilisation efforts centred round purchases to date of over 109,000,000 bushels of wheat was virtually assured when representatives of the National Grange, American Farm Bureau Federation and Farmers’ Union approved of the purchases as the best immediate remedy for the agrciultural depression. What the Farm Board will eventually do with its wheat was not discussed, but it was indicated that the matter was felt to be secondary to the immediate problem of withdrawing from the markets the surplus which threatened to ruin grain growers. Export was not contemplated now as it would involve enormous losses in cutting prices to meet foreign competition.

Mr. L. J. Taber, master of the grange,"' sth'ted “that‘.the grange proposed “to give the Farm Board a chance and at the same time to seek equality for the farmer through tariff, debenture and kindred methods.” 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 tlie latter will not press for legislation during the short session of Congress, the Government is planning to advance at least £30,000,000 to aid the Farm Board, and it is intimated that the Administration favours increasing the sum to £50,000,000.