and soil depleting allotments regardless 

 of past crop acreage history of any par- 

 ticular farm. They criticized the collec- 

 tion of deficiency payments where corn 

 delivered in settlement of commodity 

 loans has deteriorated in storage, al- 

 though no such understanding was had 

 when the corn loan was made. 



Administrator Evans said in his ad- 

 dress that the 100,000,000 bu. of wheat 

 exported under the surplus removal pro- 

 gram was sold to net American farmers 

 less than 30c a bushel, thereby clinched 

 his argument against mining the soil 

 and selling off valuable fertility to pro- 

 duce crops which must virtually be given 

 away. 



"The domestic consumer is the farmers 

 most important customer," he said. "It 

 is wrong to make him pay more for 

 wheat than the foreign consumer." He 

 expressed the view that corn sold from 

 10 to 15c per bushel higher after harvest 

 than would have been true had there not 

 been a '38 adjustment and corn loan 

 program. He branded the protective 

 tariff as a method of raising prices by 

 creating an artificial scarcity. 



Prof. Theodore Schultz of Iowa State 

 College said that the recent trade agree- 

 ment with Great Britain was more im- 

 portant than all the other 20 trade agree- 

 ments with small nations put together. 

 Great Britain, he pointed out, is one of 

 the few nations that can afford to buy 



PROF. SCHULTZ 

 "like cutting oH a 

 dog's tail in pieces." 



SPIKE EVANS 

 "the tariii . . creates 

 artificial scarcity." 



our relatively high priced products of 

 meat, poultry and eggs, butter, lard, etc. 

 Great Britain normally, he said, takes 

 about half the exports of farm products 

 from the corn belt. 



He commended the trade agreements 

 program as going in the right direction 

 but criticized it as being too slow and 

 piece meal. "Its like cutting off a dog's 

 tail piece by piece," he said. "It has 

 been done in the way to result in the 

 most howling. There has been too much 

 caution. Lowering of tariff barriers on 

 industrial articles to revive international 

 trade, raise the standard of living, and 

 bring about greater equality between 

 farm and industrial prices should have 



been started earlier and been more dras- 

 tic." 



Both the inspirational addresses of 

 Dr. Mark Dawber, secretary of the Home 

 Missions Council of New York, and Dr. 

 Geo. M. Gibson, pastor of the United 

 Church of Hyde Park were well re- 

 ceived. More requests were made for 

 copies of Dr. Gibson's talk than any 

 other delivered on Wednesday. It and 

 Dr. Dawber's address are reproduced in 

 part in this issue. 



President Smith, nominated by Roy 

 Burris of Morgan county, was re-elected 

 for the 14th consecutive term in the 

 business session Tuesday night follow- 

 ing the banquet in the Stevens hotel ball- 

 room. There were no other nominations. 

 Talmage DeFrees, vice-president was re- 

 elected for his fifth consecutive year. 

 The following directors were re-elected: 

 L. M. Knox, Morrison, 13th district; 

 M. Ray Ihrig, Golden, 15th district; C. 

 M. Smith, Eureka, 17th district; Eugene 

 Curtis, Champaign, 19th district; Dwight 

 Hart, Sharpsburg, 21st district; Chester 

 McCord, Newton, 23rd district and Aug. 

 G. Eggerding, Red Bud, 25th district. 



Arthur States, Elwood, Will county 

 was elected to succeed Ebb Harris of 

 Grayslake, Lake county as director from 

 the 1 1th district. Mr. Harris has served 

 his district ably and conscientiously for 

 six years, was a member of the finance 

 (Continued on page li) 



THE BEST lAA BANQUET IN HISTOHY, MANY SAID. MAIN DINING ROOM, STEVENS HOTEL 

 jtist before the turkey dinner was served. More than 1600 sat down to eat. the balconies filled later ior the speaking program. 



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