AMERICAN AGRICULTURE

Southland Times, Issue 20662, 18 April 1929, Page 7

AMERICAN AGRICULTURE

CREATION OF FARM BOARD.

PRESIDENT HOOVER’S SUGGESTION

Washington, April 16.

President Hoover, in a message to the special session of Congress to-day, recommended the creation of a Federal Farm Board with authority and resources to remedy the recurring causes of depression in the agriculture industry and a limited revision of the tariff with a reorganization of the Tariff Commission. The President emphasized the fact that there should be no discrimination against any foreign industry involved in equalizing the different costa of production at home and abroad. He said that in determining the tariff account must be taken of the broad interests of the country’ as a whole including American trade relations with other countries.—United Service.

BREAK IN PRICE OF WHEAT.

FIXING THE RESPONSIBILITY.

(Rec. 7.15 p.m.) Washington, April 16. The responsibility for nearly five per cent, of the break in the. price of May wheat at to-day’s ■ session of the Chicago Board of Trade is attributed in some circles here to “disappointment” at Mr Hoover’s treatment of the farm question in his message to Congress following Senator Capper’s revelation of a large surplus of Kansas winter wheat where some 40,000,000 bushels await shipment. Local brokers declared that the original depression in the price as the market opened was precipitated by Senator Capper’s statement declaring that the amount of wheat in storage in Kansas was double that held at this time in any preceding year. The price decline received a further impetus with the publication of Mr Hoover’s message. It is reported here that the message did not come up to all the market, expectations. On the other hand, Mr Hoover’s treatment of the matter was received well in the capital, where it is believed generally that discouraging developments in the wheat market are due to causes other than that of the speech. Senator Capper asserted that this is his opinion, but failed to explain himself.—Australian Press Association.