WHEAT SURPLUS IN AMERICA.

Timaru Herald, Volume CXXV, 17 July 1930, Page 9

WHEAT SURPLUS IN AMERICA.

Farm Relief Proposals. •CLAMOUR GETTING STRONGER.” United Press Association—By Electric Telegraph—Copyright (Received July 16, 7.30 p.m.) WASHINGTON, July 15. Senator McNary asserted to-day that the equalisation fee principle promises to be the chief issue at the coming campaigns in the wheat belt States. It is stated that the clamour Is getting stronger as a result of the visit of Mr Hyde and Mr Legge, who have been advocating a reduction of acreage in the wheat States. Mr Hyde to-day admitted that the West was thoroughly aroused and dissatisfied with the present farm relief laws. He reported to President Hoover the Farm Board’s proposal for a reduction had received little encouragement, and he stated he had discovered a strong sentiment favouring the equalisation fee. However, he stated: “It would not work, because of the tariff rates. Germany has a 97 cent, wheat tariff, France a higher duty, and England is working to promote trade within the Empire.” Mr Hyde said he approves of the Board’s policy, of not buying, but it might have to change its programme to meet the great emergency now existing. He said further: “Stabilisation operations cannot be used as a permanent remedy to relieve farm surpluses, because surpluses would overwhelm us finally.” The American Bakers’ Association has opened a nationwide campaign to increase the domestic consumption of wheat by 100,000,000 bushel 6 a year, as farm relief. At Chicago, wheat is quoted: July 88g cents, September 92 cents, December 97 1 cents, March 102 i cents per bushel.