The Birmingham age-herald., 1912-12-08
GOVERNORS GUESTS OF PRESIDENT AND
 MRS. TAFT AT LUNCH
O'Neal Heads Committee to Draft Uniform Legisla- ton on the Rural
 Credit System

Washington. December 7.-Governors of more than a score of states moved on to
 Washington today from the Richmond conference, and were the luncheon guests of the President and Mrs Taft, and par tioipated in a special conference on rural credits and farmers cooperative banks.
 President Taft is deeply interested in the subject. In addition to the goYer- nors who. have been in attendance al the conference just ended in Richmond, the President sent invitations 10 the four sovernors-elect now serving unexpired terms in Congress. Secretary of State Knox. Secretary of the Treasury Mac Veagh, Myron T. Herrick. American am bassador to France, and Senator Fletcher of Florida, who are keeping close watch of the President.
 Governor Bease of South Carolina, whose remarks yesterday created stormy scenes at the Richmond conference, was among the first to arrive.
 He took apartments at a downtown hotel and spent a part of the day sight seeing To all would be interviewers who asked about his utterances at Richmond he replied:
 T stand upon the official stenographie record of the conference and l apologize to no man for one word I uttered
 President Taft, in a speech, urged the adoption of uniform state legislation which would make possible in this coun- try the adoption of system of rural 10 farmers similar to that in vogue in many European countries by the banks.
 We are not going to adopt a system overnight be added. "lt is going 10 take a considerable time before the coun- try shall receive the benefit, but the earlier we begin the agitation the earlier we shall achieve the purpose in bringing the matter to the attention of the public
 There is no subject of greater importance 10 the people of the United States than the improvement of agricultural methods, the keeping of them up to date in all communities. the securing of profits to the farmer, the attracting of the young
 men of the country 10 farming as u lucra- tive profession with five or six months Work out or the year, ana the lowering Of the cost of agricultural products and the lowering of their prices to the consumer We have great capital in this country and we have farming property that Is pro- duclng farm products of immense value 1t would seem clear that with these two elements 1t would be possible to introduce third by which the farmers engaged in producing the crops should be able in view of the value of what he produces and the value of the land on which 1t is produced to obtain money on the faith of the land and the faith of the product which will enable him to expand his acre age and better his methods of cultivation and production. An easy exchange be- tween capital and farmers with proper security has been established in Euro pean countries. where the rate of inter- est has been lowered so that the farmer Is practically on the same basis of advan- tage in the borrowing of money as the business man with the mail order house and the public telegraph wires.
 If this can be done abroad If can be done here. and abroad we find the gov ernment institutions adapted to form the conduit pipe between capitalists and farmers are successfully operating ~->-~~--~~-~-~--~~------~ (Continued on Page Three)