PRICE OF WHEAT

Evening Star, Issue 20140, 3 April 1929, Page 8

PRICE OF WHEAT

WORLD CONTROL AMERICAN PROFESSOR’S PLAN. Press Association—By Telegraph—Copyright* WASHINGTON, April 2. (Received April 3, at 9.5 a.m.) Professor J. W. Brinton, of the University of Nebraska, has offered the Senate’s Agricultural Committee a plan for the control of world wheat price.. Under the pending M'Nary Co-opera-tive Marketing Bill Professor Brinton urged that American co-operative organisations bo empowered to form an alliance with the Canadian wheat pools,, and that together, controlling 60 per cent, of the world’s production, they, could stabilise the world wheat price.. Ho asserted that the proposed 300,. 000,000 dollars revolving fund to finance the co-operative organisations could be strengthened by empowering them to borrow money "from the intermediate credit banks, which have 660,000,000 dollars available for that purpose, and!by commercial loans at the usual 8 per cent, rate of interest at the same time.j Dr J. L. Coulter (president of the North Dakota State Agricultural College) told the House Committee that the problem causing distress among American farmers was not a domestic surplus, but a loreigu surplus.—Australian Press Association.