612 IOWA DEPARTMENT OF AGRICULTURE 



ern, the Northern Pacific and the Burlington will consolidate. I am 

 informed that the American Railway Express will try to operate under 

 the consolidation as now in effect. "We can look forward to a period of 

 tremendous consolidations, and you know what that carries with it. Sup- 

 pose all of the live stock shippers in America had one association and 

 delegated to a committee of a dozen or so the power to fix the price on 

 hogs and cattle and sheep in every town, village and hamlet in the United 

 States of America, and then they would get a law passed by congress 

 making it a felonious offense for anybody to sell a hog, cow or sheep at 

 less than that price so fixed. Just think of the colossal problem facing 

 the people of America! That is the problem facing us in the railroad 

 situation, because that is going to be the situation. Wide consolidation 

 we have found is best economically, but we find with that development 

 come some questions and problems that are really staggering in the 

 political and econoniic thought of this generation, and the solution of 

 those problems will have profound weight on almost all of the other great 

 questions of government connected with other forms of big business. 

 The railroad industry just happens to be the one we tackled first, which, 

 next to agriculture, is the greatest industry on earth. We are going to 

 have some interesting times ahead of us, aside from the railroad question. 

 We are going to have a revision of our tax laws. Business is getting 

 ready now for a general revision. The excess profits tax is claimed to 

 be a very serious menace to business, and they are going to try to change 

 that. The government is going to require something like four billion 

 dollars a year. That isn't quite what the railroads think they ought to 

 have — it is several hundred millions less, but it is quite a large sum of 

 money, and we must devise ways and means to collect that gigantic sum. 

 Business is getting ready to deal with that problem scientifically and 

 efficiently. Are the farmers making any preparation? Hadn't you bet- 

 ter keep your eyes open on this development? Hadn't you better amass 

 a few statistics like young Mr. Wallace was outlining here this after- 

 noon? (Applause.) 



The question of the merchant marine, the labor question, organized 

 business in all its forms and varied activities, the tariff, the relation be- 

 tween state and interstate governments, competition from other coun- 

 tries, scientific progress in agriculture itself — all of these departments 

 of thought, research and activity command your careful consideration in 

 order that when you do act you can act intelligently, wisely, not solely 

 for your good, but for the good of all. 



THE BANQUET. ' 



The banquet, which was held Thursday evening, was well at- 

 tended, and thoroughly enjoyed by those present. Secretary 

 Henry C. Wallace acted as toastmaster. 



The Toastmaster : Those of you who have been in the habit 

 of attending the annual banquets of the Corn Belt Meat Pro- 

 ducers' Association know what our custom has been, to have a 



