580 IOWA DEPARTMENT OF AGRICULTURE 



optimistic about governments going into trade promotion work. I think 

 there is a limited field there, and we are trying it out experimentally. 

 For instance, two men are just returning from South America where they 

 have been investigating as to the possibility of selling pure bred live 

 stock in South America. We thought there was a possible outlet there, 

 and that we might do something in the way of building up our own great 

 pure bred live stock business, and so these men are ready to report on 

 their observations. I have had an opportunity to see their findings, espe- 

 cially with regard to the introduction of two or three breeds of cattle 

 and two breeds of hogs into Argentina. We feel that that is a legitimate 

 business, a legitimate piece of work that we can assist in. We feel that 

 those men who are representatives can go to foreign government officials 

 and get information that individuals cannot. In Buenos Aires we are 

 making plans to carry on the work which we have done in that city thus 

 far, with every prospect of success. 



Just now we are trying another experiment in trying to study the 

 fresh fruit market in this country to find a means of taking care of our 

 American apple crop, and there is every hope of success. 



Those are two of the things in trade promotion that might be tried. 

 If the agencies here can co-operate, I think we can co-operate. We cannot 

 do it on our own initiative, but we can co-operative. 



I have very briefly outlined this, because it is something that I am 

 very much interested in. I think that, of course, there are many things 

 that came up that I don't want to get into a discussion of this evening, 

 but I think I have set forth the main world situalion that affects the 

 market commodities today, and that is the buying power of Europe, and 

 that is the one great thing to watch in the next five or ten years — the 

 return of that; and then I hope I have been able to point out to you the 

 need, especially by the farmers, of such information, and some way of 

 having it passed on and interpreted so that he can get it. The large 

 agencies that handle your products do that to a certain extent, and I 

 believe I am in entire agreement with the quotation I made at the 

 beginning of my talk when I say that I feel that the farmer himself is 

 entitled to as good information as any agency that uses the world supply 

 of those commodities. (Applause). 



The Chairman : I think one of the most hopeful things in con- 

 nection with the national government is the gradual growth of 

 the work such as Mr. Montgomery has outlined. They have 

 come to see that the purpose of the Department of Agriculture 

 is not only to increase production but part of it is to help us to 

 market our products at fair prices. 



I am now going to introduce a man who has spent his life in 

 the banking business, who is the president of the First Trust and 

 Savings Bank, in Des Moines, who will talk to us on the banking 

 and credit situation — Mr. E. B. Wilson. 



