452 AGRICULTURAL APPROPRL\TIOX BILL, 1924. 



Generally speaking, there can be no doubt, I think, that warehouse receipte i^ued 

 by warehousemen licensed and bonded under the United States warehouse act will be 

 considered by bankers as more desirable collateral security than those issued by ware- 

 housemen who are not licensed or bonded under any State or Federal law. 



There are a great many other statements which I mi^ht place in the 

 record, but I think these will suffice to show that the Federal reserve 

 banks, the War Finance Corporation, and all those who have to do 

 closely and intimately with the granting of credit to farmers based 

 upon products when they are in storage are fast reaching the point 

 wnere they respect more highly the Federal warehouse receipts than 

 almost any kind of receipt issued by warehousemen. 



INCREASE IN WORK. 



Mr. Anderson. You appear to be anticipating some increase in 

 this business. What is tne basis upon which you anticipate an 

 increase ? 



Mr. Yoke. The basis of our anticipation is the realization of the 

 past two j-ears, and the further fact that we know that there are a 

 good many warehousemen not now in the system who expect to come 

 in next year. I am quite confident that we shall see just as much of 

 an increase in the licensing of cotton warehouses, or in the demand 

 to be licensed, next year as we have had in the last two years. We 

 have been told that the Tobacco Growers' Cooperative Association 

 of the Connecticut Valley intended to use licensed warehouses ex- 

 clusively this next year. We are quite confident that there will be 

 a big increase in the licensing of grain warehouses between the Missis- 

 sippi River and the Rocky Mountains, as well as in the Northwest. 

 In fact, the estimate which is before the committee is not in line 

 with our anticipation of what the needs will be. Our anticipation 

 is based entirely upon what has taken place in the last two years, 

 and upon what we liave pretty concrete evidence now in delinite 

 expressions of intention on the part of those who have warehouses. 



Mr. Tenny. The committee should realize that this work involves 

 the making of reinspections, and the more warehouses that are 

 licensed, the more reinspection work has to be carried on. 



FOR enforcement OF THE STANDARD CONTAINER ACT. 



Mr. Anderson. The next item is for the enforcement of the 

 standard container act. The current appropriation for this purpose 

 is S3, 800, and the estimate for 1924 is S5,000. 



Mr. Sherman. The estimate for the enforcement of the standard 

 container act is So, 000; SI, 200 of the amount previously appropriated 

 or allotted from the original appropriation of $5,000 was set aside 

 for one statutory pla(;e, and the lump fund was reduced to S3, 800. 

 That has been tlie amount of the lump fund, I believe, for the last 

 two seasons, j)erhaps. That is no longer sullicient to carry the salary 

 of one techmcul man in charge and his necessary travel, if he is to 

 do the work that he should do under this appropriation. As a matter 

 of fact, another man from the grades and standard work has been 

 obliged to give a part of his time to this work. 



Mr. Anderson. You have only one on this job? 



Mr. SiiKKMAX. Only one man is giving his whole time to this job. 

 There are hundreds of manufacturers making these containers, all of 



