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The Milwaukee Leader
Milwaukee, Milwaukee County, Wisconsin
What is this article about?
Federal Reserve cuts rates to raise farm prices like wheat, hogs, and corn amid reduced U.S. wheat crop. Farmers' National Council advises northwest farmers not to be deceived by temporary gains and to vote for La Follette against reactionaries.
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The financial interests are giving a fresh proof of their power to manipulate prices through control of credit. The federal reserve system has reduced discount and re-discount rates. They are going to use the full power of their control of the credit system to increase the prices of wheat, hogs and corn and perhaps other farm products. As far as wheat and to a lesser extent hogs, are concerned they will be greatly helped by the anticipated reduction of the wheat crop in this country though the world's wheat crop for this year is not yet known. The farmers of the northwest should not be bluffed by this temporary advance in prices and lulled into a sense of security which will lead them to vote for reactionaries. Every farmer should vote for La Follette.— Farmers' National Council.
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Domestic News Details
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Outcome
temporary advance in prices of wheat, hogs, and corn due to credit control and anticipated reduced wheat crop; warning against voting for reactionaries
Event Details
Financial interests manipulate prices through Federal Reserve's reduction of discount and re-discount rates to increase prices of farm products. Farmers of the northwest should not be bluffed by this and vote for La Follette, per Farmers' National Council.