U.S.A. WHEAT-GROWERS

New Zealand Times, Volume LI, Issue 11736, 25 January 1924, Page 8

U.S.A. WHEAT-GROWERS

SERIOUB SITUATION FEDERAL AUTHORITIES FEfih NEED OF ACTION.. COOLIDGE’S APPEAL. I Br Telegraph.—Press Assn.—Copyright. Australian and N.Z. Cable Association. (Received Jannarv 24, 8.25 c.m.) WASHINGTON, January 23. President Calvin Cooliige has sect a special message to Congress stating that economic conditions in certain wheat-growing sections of the Northwest, where a considerable number oi banks have failed recently due to frozen credits (credits which ate not immediately available), are rapidly approaching a state where the grower can see his farm being wiped out. The grower's greatest need was to diversify his work, but he was so badly sunk in debt that he could not recare adequate funds to reorganise himself for general farming. The President has asked Congress to pass legislation authorising the Federal authorities to co-operate with bancs, railways and mercantile establishments to. remedy the situatiou, which seriously threatens the very life of an important agricultural industry. The President, however, emphasised the fact that the Government cannot undertake to make large agricultural loans, but believes that a scientific, economio plan under which the grower’s old debts can be funded, will make possible his recovery.