Rensselaer Journal, Volume 11, Number 2, Rensselaer, Jasper County, 20 June 1901 — Farmer. Hall the “Cora King:." [ARTICLE]

Farmer. Hall the “Cora King:."

Fresh from his victories on the Chicago board Of trade, George H. Phil-

lips, the “corn king,” whose successes insured him a niche in the heart of every farmer in the land, went to Minneapolis Thursday expecting to meet a large assemblage of bankers, business men and farmers. Mr. Phillips delivered a short address in which he advocated a perpetual corner in corn, manipulated by the farmers themselves. He also favored government aid to the extent of taxing the corn and building elevators. One of the suggestions that he considered of importance was that a farmers’ bank be established in Chicago with a capital of $25,000,000 to $50,000,000. In explanation of his scheme for taxing corn, Mr. Phillips said: “Let the government tax the farmer a cent a bushel on his corn crop, and with the money build elevators in which to store 100,000,000 bushels of corn, and pay 40 cents, Chicago basis, for it, and the world will pay the same price. There is not so much of it that we need to worry about an extra large crop or two. With the government ready to pay 40 cents for it, the farmer can borrow 30 cents from his country bank, if he needs the money, and carry the surplus for seven years if need be.”