U.S.A. WHEAT CRISIS

Hokitika Guardian, 22 November 1930, Page 2

U.S.A. WHEAT CRISIS

FARM BOARD’S DEAL,

L United Press Association —By Electric Telegraph.—Copyright.]

NEW YORK, November 20,

The “New York Tiniest” Washington correspondent states that it is reliably reported that the U.S. Farm Board has purchased, one hundred and ten million bushels of wheat, or onetenth of the total of the domestic supply, in an effoijt- to maintain the prices. These figures -are larger than was hitherto believed. It is understood that the Farm Board has s*nt representatives throughout the country for the past several months, urging a reduction of the wheat'acreage, and the use of coarse ground wheat, for animal fodder, hoping that thus one hundred million bushels wou’.l be consumed during the coming winter Mr George Milner, the head of the Grain Stabilisation Corporation of t.he Farm Board, in an address, srHed that the grain at present eontrofl.-j 1 'by the Farm Board hr'is 76,fj~'0‘>00 dollars of a market value, although it had cost one hundred million dollars. He asked; “Whv should not wheat be stabilished? Every other line of endeavour in this country is on an American or domestic basis, The farmer has been benefited by the stabilisation of wheat, but I't has afwo been a good thing for the country.' 1 He admitted that the Farm Board felt some nervousness during the past few days, when it did the heaviest l.uyiiu', but it was assured now, He s">id: “The lines have held!” WASHINGTON, Nov. 20.

Mr Logge, of the Administration, lipis recommended a fifty per cent increase in the tariff on maize I.v the Tariff Commission, under! the flexible provision in the Act,