The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1911-06-18
WILL AID FARMERS
REAT TRUNK LINE ROADS PRO.
POSE ESTABLISHING CLEAR
ING HOUSES.
Ian Endorsed in Land Before okla
horna slature--Started in
London Fifty Years Ago

Chicago, June lf.-Executives OF
railroad system embracing thou
lands of miles ana extending from
hicago to the Pacific coast by three
reat trunk lines and branches have
lnder consideration a new plan to
i'd the farmers and to reduce the
ost of living to The consumer. The
Ian is one step in advance of the
God seed specials and the good
Dads propaganda and involves the
reation of farmers clearing houses
n each county along it's lines by
7hich the farmers will avoid the
necessity of exchanging their crops
or money before they are able to
purchase food, clothing, machinery
nd other necessities as we'll as the
uxuries of life
The plan has met with encourage
nent in unexpected places, a direc-
or of the National Council of Grain
Exchanges who is most active in
lrging national efforts to increase
he per acre production, having en-
lorsed the plan,
Seth T. Farnsworth, of Chicago,
or years has devoted all his spare
ime to perfecting a practical plan
or utilizing the clearing house sys-
EN- in the daily transactions of the
armers, the country merchants and
the railroads who deal with the
armers. Recently, he presented the
natter to the Oklahoma legislature
md a bill was introduced which was
forerunner of national considera-
ion of the plan.
The plan for a clearing house for
farmers he proposed to the legisla-
tors of Oklahoma as a plan ito make
paying farm property out of every
idle acre in the state" He proposes
the organizing of the farmers OF a
county; selecting a bank in this
county which will receive assign.
nents Of all crops from these farm
3rs; it being agreed that no member
Of the organization will purchase
anything in the way of supplies ex-
oept through its bank the bank as
the fdantain head of the entire or
ganization being custodian of the as
sociation's funds, SO that should q
lean year put in its appearance, the
farmer may borrow from the funds
Of its association.
1T is only fifty years ago that the
suggestion was made in London by
London banker who is still alive,
that banks meet at one place and
make their settlements as a matter
Of convenience" said Mr.. Farms
worth. "Out Of this idea has grown
the clearing houses now established
In nearly every city. The clearing
houses have gone one step further
and made their clearing house asso.
Citations the means of the safeguard
ing, by means of examinations fol
the association, after what is known
as "The Chicago plan" The sue
cess Of the Chicago plan, the idea Of
W. It. Fenton, vice+president of the
National Bank of the Republic, has
brought about reform in banking
throughout the United States for the
clearing house examination plan has
been adopted by more than half the
banking power of the country, and is
urged by Comptroller of the Curren-
cy Lawrence o. Murray for general
adoption in all reserve cities.
This shows the possibilities of a
sound idea There is no question
that the universal extension OF the
clearing house plan for the benefit of
farmers and merchants will vastly
Increase their business and enable
the producer to get more for his
share Of the final proceeds of his
crops than he gets now. III Mr.. Hill
or some other leader in transporta-
ton whose interests are closely iden.
titled with the farmers will authorize