EFFIGIES HANGED

Nelson Evening Mail, Volume LXVI, 9 January 1936, Page 5

EFFIGIES HANGED

AMERICAN REACTION TO SUPREME COURT DECISION FARMERS TO CONFER (United Press Association—By Electric Telegraph—Copyright) (Received 9th January, 9.30 a.m.) NEW YORK, Bth January. A variety of interesting repercussions resulting from the Supreme Court decision regarding the Agricultural Adjustment Administration occurred tonight, the most picturesque being the hanging of effigies of the judges who outlawed the Act on the campus of lowa State College, this apparently showing the resentment of agricultural areas in the Middle West. Commodity markets reacted almost inexplicably to tlie decision. Hog prices rose 70 cents a hundredweight overnight, whereas cotton dropped two dollars a hale, yet both commodities are equally affected by the processing tax and production control. In a confused stock market shares of concerns making farm implements lost several points. Mr 11. A. Wallace, Secretary of Agriculture, in the meantime has ordered that all Agricultural Adjustment Administration activities be stopped, and conferences seeking Agricultural Adjustment Administration substitutes have been continued unabated. A 'Washington message states that at tlie regular Press conference to-day President Roosevelt declined to reveal •my plans to meet the agricultural crisis except to confirm that an appiopriation of about 250,000,000 dollais would he refused from Congress to pay producers’ contracts already signed. A conference of farm leaders from every section of the nation will be held here at the week-end, when Mr Wallace will ask for co-operation in drafting a new programme. To-day’s drop in cotton compared with increases in other commodities is explained by a revelation by Agricultural Adjustment Administration chiefs that the crop faces a most desperate situation. Reports indicate that large planters are preparing to recultivate the acreage withdrawn under the Agricultural Adjustment Administration with the possibility that this year’s crop will reach 15,500,000 hales.

LOANS TO ALLIES

WHEN BANKING HOUSE “TURNED LOOSE” EVIDENCE AT WASHINGTON WASHINGTON, 7th January. Mr J. P. Morgan informed- the Senate Munitions Investigation Committee that his banking house “turned loose” with loans to the Allies in 1915 as soon as President Wilson consented to H e ’ added that his firm’s sentiments were from the beginning with the Allies, “but bankers had nothing to do with settling the laws of neutrality. When the Government changed its policy we turned our toes around, too.” He contended that Germany’s insults and injuries and invasion of Belgium rather than loans to the Allies drew the United States into the war. “That the Allies found us useful and valued 'our assistance is tlm fact of which I am proudest in all my business life. The day’s hearing cast considerable lidit of Mr W. J. Bryan’s break with President Wilson and the subsequent appointment of Mr Lansing as Secretary of State. A secret memorandum Mr* Lansing prepared as Counsellor to the State Department, dated 23rd October, 1914, was presented in _ evidence.. Mr Lansing pictured President Wilson as believing that as tiade with belligerents was legitimate and proper it was desirable that obstacles such as interference with the arrangement of credits or easy methods of exchange should be removed.” A copy of the memorandum was supplied to Morgans and other bankers, but was not made public until to-day. This policy was completely at variance with Mr Bryan’s idea of neutrality and was apparently one of the causes of his resignation.