Bisbee daily review., 1911-06-20
The Plan Described.


 The plan for a clearing house for farmers he proposed to the legislators of Oklahoma as plan ito make farm property out of every idle acre in the state" He opposes the organizing Of the farmers of a county: selecting 6 bank in this county whicA will re- ceiye assignments of all crons from these farmers. it being agreed that no member of the organization will purchase anything in the way of sup plies except through this bank: the bank as the fountain head of the en- tire organization being custodian of the association's funds. 20 that should lean year put in it's appear ance. the farmer may borrow from tae funds Of the association.
 Tt Is only fifty years ago that the suggestion was made in London by a London banker who IS stiU alive that banks meet at one place and make their settlements as a matter of convenience, said MT Fansworth. Out Of this idea has grown the clearing houses now established in nearly every city. The clearing hous- es have gone one step further and made the c'earing house associations the means Of the safeguarding, by means of examinations for the asso- citation, after waat is known as the Chicago plan The success Of the Chicago plan, the idea of W. T. Fen ton, vice president Of the National Bank Of the Republic, has brought about a reform in banking throughout the United States for the clearing house examination plan has been adopted by more than half the bank ing power of the country, and is urg- ed by Comptroller of the Currency Lawrence O. Murray for general adoption in all reserve cities.
 Sound Idea.
 This shows the possibilities of a sound idea. There is no question that the universal extension of the clear ing house plan for the benefit of farmers and merchants will vastly in- crease their business and enable inc producer to get more for his share Of the final proceeds Of his crops than he gets now. If MT. Hill or some other leader in transportation whose interests are closely identified with the farmers will authorize their az ents to act as clearing house mana gers for exchanges and sbiDmenfs clearing house cooperation would be extended and become available 10 the ruflic ct large.
 It is entirely possible for the farmer to get one-fourth more than Se now receives for farm products It has paid the bankers clearing house associations better to advance sInds to bank in trouble. to take over their assets and pay of their Hepositors than to have disturbance and want of confidence with loss of deposits by all banks. As we become more intelligent 1t becomes more evi- dent that it pays better to aid our customers t1an 10 pursue policy of indifference"
 The bill introduced before the Ok 'ahoms legislature was called An Hct for the promotion of agriculture. successful crops and the rapid set clement of the state.- It provides for -Four travelling supervisors who are to advise the farmers and direct them in Inc cultivation of their crops. also 1rovidine for s1O0.6 .6O0 to be appro- urzated for investment in Tatlons and supplies to be advanced monthly 10 new farmers who from failure Of cT-ps or other reasons desire to CO., operate with the state in the making Of crops These supplies are 10 be bought a. wholesale and sold at cost and tSe farmers charged four Ter csnt interest until the supplies are paid for. Where such supplies have bQpn advaucoF the advice Of fho fr~ v