The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-10-12

t1on ~ SoDost oA1 soeo0Den1Ak1An6 q
AnhaAsAAes xssris1s sew JaAlishsA ~
~ Dspastnsnt q oGaAs Ses esassa4
AiseslbsHisA &
'xAs 1lsss.sss sarnsrs - ~ usits4
states sAa sash year - The natiena1
wealth S2teAeee.eee. xAsy are Aeina
this on . borrowed capital Of eAeAo.,<
900. ooe o. this sum they DAy aAnual<
II ihesHest charges Of eSao.oe>.oeof
Counting commissions ana Ssnswa@
charges, the intseest rate paiA ~ the
farmer Of this country 10 averaged ID
8 i.3 Per cent % compared 70 . Satd
Of ( Is 20 . Is per cent paid ~ thg
farmer. Tor instance. Of France an4
Germany.
.Agsin. the interest rate paid BY
the Americas farmer 70 considerably
aas:s sssa gals es mane
mittsd that the security o9ersd BY the
s s.%ir !. n Tie ss.. '. e.r ssp' ~
corporations. Why. then. win not the
investor furnish the farmer with
money at as advantageous rates az ma
:.. Ylsl,ns e saDP'So % ' .hs
vantage enjoyed by tie industrtai
corporation lies In the nnsneisi ma
a. at p ia is ofssr Seie9. r..
investor In 4 more attractive and more
readily negotiable form. The farmer
lacks this machinery, and. laskins u:
theory.
Cheek Rising Prices.
but the advantages to be gstne9
by the adoption OF this plan 80 BEYOND
the direct saving In interest enarf.s
the the The nsss' .a
r rope was that Of Checking the rapidly
dysneins about IN the s. e r.. lD
evitable Increase In consumption and
| the failure of thA long drained sou I"
afford a corresponding increase In pIo-
nie OF this country to-day-not in
n severe q form ~ II threatened the
|, older countries OF Europe. but. stiil.
Las a great and pressing eeono"io
problem.
| .In Europe this problem has been sucee:ss
fully met, nrst. by reducing the cost v ths
| farmer Of producing his crops. ana seconovs
| BY increasias hts produetien tnreeSn .ns
| adoptiou Of improved methods Of eultisa-
don Both the Fedora, ana state govern.
| msn,s in this country have dons mucn .
| afford the farmers instruction VA 'mptovsa
agricultural. methods But II stfii remains
/ for us 70 reduce the cost OF the farmer
| production by anording him the necessary
| capital for the exploitation OF n.s soi. spoa
4
I Afforded the money n0ceesary foT MIN -
! adopt improved msthods. 1t muss es msde
pron,xb!e for him TO place every acre OF his
ground under cultivation. This ones thS
q, consumer relief from the increasins cost OF
| ;ocestu6a"
| President ran strongly dsprsea,ss any
! idea Of establishing cooperative cTson ~
| the United States through the support Oh
| the government subsidies.
| We must establish credit system Ole
for and by the farmers OF the United
! States" he writes The country enjoys To-
! day great prosperity. the factories are ousys
/ the Horkin gmen are employed, ans every
| where the wheels of industry hum Inc
| farmer shares in this general prosperity.
The proposal which I make 10 not TO SUP
sidixc the American farmer. Fortunately
| for the country he does not need u. nos
/ would he accept &C.
| Govesnoes Warned.
| Pr..iden. TAFT warns the governors thaS
| In this plan. a. In ali financial schemes.
| there - room for harmful exploitation for
personal gain.
! THE most essential point TO bear IN mino
| IL the need for the assumption by the req.
I eraI anc State governments OF the respon"
s.bility for economically and honesfiy eoa-
Quoted Institutions. Such assumption 70 tee
| essential precedent for obtAjning TIE comm
dence OF the American ~ well a. o. the FL.
it,