WHEAT ALLIANCE

Sun (Auckland), Volume III, Issue 628, 3 April 1929, Page 9

WHEAT ALLIANCE

SUGGESTION IN U.S.A. CONTROLLING WORLD PRICE (United P.A.—By Telegraph — Copyright) (Australian and N.Z. Press AssociationJ Received 9.5 a.m. WASHINGTON, Tuesday. Professor J. W. Brlnton, of the University of Nebraska, has offered the Senate Agriculture Committee a plan for the control of the world wheat price urider the pending Cooperative Marketing Bill. Professor Brlnton urged that American co-operatives should be empowered to form an alliance with Canadian wheat pools, so that together controlling 60 per cent, of the world’s production, they could stabilise the world’s wheat price. An economist has asserted that the proposed £60,000,000 revolving fund to finance the co-operatives could be strengthened by empowering them to borrow money from Intermediate Credit Banks, which have £ 132,000,000 available for that purpose, and by commercial loans at the usual eight per cent, rate of Interest. At the same time 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 the domestic but the foreign surplus.