Debate

Congress has been told so often that it must do something for the farmer that by this time it has its lesson by heart. Nevertheless it has procrastinated until almost the end of the session. Some weeks ago (TIME, March 24) a bill to provide funds to help diversify farming came up in the Senate and was defeated. The second important measure to come up was the McNary-Haugen Bill, debate on which opened in the House last week.

The bill proposes that the Government create a $200,000,000 export corporation to buy farm produce, principally wheat. It is to buy as much as will bring the price of wheat up to a position in proportion to other prices, such as it held before the War. Tariff rates are to be raised sufficiently to prevent inflow of foreign wheat. The wheat which the corporation buys is to be paid for partly in cash, partly in receipts. These receipts will have value in as much as the corporation succeeds in selling its wheat abroad at a profit.

Opponents of the bill declare that under present conditions the corporation simply will not be able to sell its wheat abroad at a profit. Then either the corporation (i.e., the Government) must "hold the bag" or the holders of the receipts given as part payment for wheat will lose just as much as they would at present.

Proponents of the bill believe that it will solve the problem of low prices for farm products.

The House allowed itself 15 hours in which to discuss the question. Considerable opposition developed and the debate lasted until late into the night.