<, _ 167 _ 



which (-rivals arc received in deposit as guarantee for 

 money lent. Through the security which s.tl'c housing 

 implies, the charges, interests, etc., could be reduced to 

 one half those ruling at present for such loans, ai.d their 

 scope, at present limited to a small circle of -Tain buyers, 

 would be extended to all grain growers as well as buy- 

 ers. In elevators lies the secret of cheap loans to the 

 farmers. 



THK OPPOSITION OK VESTED INTERESTS. 



.1 



With such manifold advantages it is. certainly curi- 

 ous that out of the many eminent statesmen with which 

 this country has been blessed, not one has undertaken 

 the task nf -overcoming all obstacles to the establishing 

 of elevators. Vested interests were apparently too 

 powerful. 



When I say not one I am exaggerating 1 , for only 

 recently in imr>, following on the war and the disintegra- 

 tion of the vested interests, the opportunity was given 

 for the establishing O f a system of elevators throughout 

 the country, and the first practical proposal for their 

 construction was made. 



FIRST PRACTICAL PROPOSALS FOR THE 

 CONSTRUCTION OF ELEVATORS. 



/ 



The difficulties which beset agriculture in 1915 were 

 the occasion for reviewing the non -success of our preli- 

 minary attempts to enjoy the advantages which the war 

 had promised, and the continuous discussion in the press 

 and the writings of many seriously minded persons in- 

 terested in placing our cereal trade on a sound footing 

 for the future, has resulted in the question of Grain Ele- 

 vators again being brought to the front, this time owing 

 to the war deranging the customary opposition of cer- 

 tain vested interests. 



FOREIGN CAPITALISTS INTERESTED. 



On various occasions determined attempts have been 

 made to interest financial houses and capitalists at home 

 to undertake the construction and management of Ele- 

 vators, but owing to the absence of any experience in the 

 matter and the natural timidity of the home capitalist, 

 nothing has resulted definitely. A similar effort in the 

 United States resulted in the interesting of several 

 houses competent in the construction and management of 



