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Dliiiois A^cidtural Assodatioa 



RECORD 



Publiihed monthlT by the lUlnoli Acrlcultural AitoeUtlon >t 114 So. Fifth St., Uarihall, 111.; Kltortal OflMi, 601 Bo. DMrbon St., Chlcac*. 111. Entered as aecond-cUsi 

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 Feb. 28, 1925, authorized Oct. 27, 1925. Addreii all eommunieationi for publioatlon to Kditorial Offlcci, Illlnoii Agricultural Association Record, t08 So. Dearborn St., Chlcage. 



Number 3 



MARCH, 1931 



Volume 9 



^^Stick— the Farm Board Will Back You 



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4 



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Ex-Gov. McKelvie of Nebraska Gets a Hand at Annual Soybean Marketing 



Association Meeting ;v^^^^^^^^^^\^^^^<^ ,::•;;: 



CCT F you soybean growers will stick 

 J- to your organization the Federal 

 Farm Board will stand back of you," 

 Samuel R. McKelvie, grain member of 

 the Federal Farm Board, told 500 mem- 

 bers of the Soybean Marketing Associa- 

 tion at their annual meeting in Deca- 

 tur, February 25. Gov. McKelvie's 

 words were enthusiastically applauded. 

 The demonstration is indicative of the 

 determination shown by nearly 3,000 

 Illinois soybean men to carry on in 

 their co-operative effort. 



"We're not so concerned about the 

 immediate outlook for the soybean in- 

 dustry nor the repayment of our loan," 

 said Gov, McKelvie, "we are concerned 

 about whether you men will back up 

 your association through fair weather 

 and foul. This is not a one-year prop- 

 osition. It's a long-time program. 

 Patronize your organization and patron- 

 ize it well. Prices will not always be 

 as low as they are at the present time. 

 You couldn't have started your or- 

 ganization at a worse time from the 

 standpoint of getting a favorable price 

 for your products. The industrial de- 

 pression, the crop surpluses in this 

 country and throughout the world 

 have resulted in low prices for farm 

 products almost unprecedented in 

 American history. Prices can't go 

 much lower and they are very apt to 

 go up, so keep up your faith and cour- 

 age and we'll win out in the end." 

 Strong Financial Set-Up 

 The same principles of success gov- 

 erning private business also govern co- 

 operatives, the speaker told his audi- 

 ence. "Your organization must have a 

 strong financial set-up and ample re- 

 ^ serves if it is to operate for your best 

 interests. Get in position to run your 

 own business, be independent, and build 

 your marketing institution until it has 

 sufficient money reserves to take care of 



SAMUEL R. McKBLVIB 



any emergency. Just remember this: 

 that when your co-operative puts 

 money in reserve it still belongs to you 

 and you will get it eventually. Whereas, 

 the earnings you contribute to a private 

 concern marketing your products, you 

 will never get back." 



Referring to the buyer who occasion- 

 ally oflfers a bigger price for a carload 

 of soybeans, or any farm commodity, 

 than the co-operative is able to pay 

 members, McKelvie said: "Frequently 

 such oflFers are made to weaken your 

 faith in your own organization. A 

 greater price for a carload or two of 

 beans is of small consequence. What 

 you want to know is who is going to 

 buy 1,140,000 bu. That's what you 

 must consider if you are going to suc- 

 ceed. 



Emergency Existed 



"The Farm Board has received more 

 publicity in the newspapers for its help 

 given the cotton and wheat farmers 

 than for aid given other commodities," 

 said McKelvie, "but remember that 

 much more money has been loaned and 



more attention given to other fcom- 

 modities than to these two. When the 

 Board saw that an emergency existed in 

 both wheat and cotton it acted prompt- 

 ly. We did not want to wait a whole 

 year before we took a chance. We sup- 

 ported the market and got plenty of 

 wheat — about 100,000,000 bu. in fact. 

 You know the results. The American 

 price is considerably higher than the 

 world price for the first time in history. 

 The wheat grower was benefited. 



"Stabilization operations, however, 

 are only temporary. The Farm Board 

 furnished the umbrella for the 1930 

 crop and now we're asking the wheat 

 growers to furnish their own umbrella 

 after July 1. And the only way to do 

 it is to cut acreage and allow the accu- 

 mulated surpluses to be used up." 



McKelvie expressed the belief that all 

 other things, including labor, must be- 

 come readjusted to the new low scale 

 of prices. The farmer has taken his cut, 

 he said, and now it's up to the others 

 to follow suit if we are to work back 

 successfully toward general prosperity. 



Compliments I. A. A. 



Governor McKelvie complimented the 

 Illinois Agricultural Association and the 

 management of the Soybean Marketing 

 Association for the way they handled 

 the 1930 soybean pool. "We were glad 

 to loan money on the soybean crop to 

 an organization (the I. A. A.) that 

 never had a failure," he said. "Your 

 management is to be complimented for 

 selling the greater portion of bushelage 

 pooled when there was a good market 

 for the beans. Too many times farmers 

 fall in love with their crops and refuse 

 to sell," he said. "Your beans in stor- 

 age are dry and in good seed condition. 

 Tne Farm Board is not worried about 

 its loan if you men will carry on." 



Earl C. Smith, president of the Illi- 



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