The weekly Iberian. (New Iberia, La.) 1894-1946, 1912-12-14

Key to the II gh COST of
Living, SAYS II, !. Arm
/ Washington, Dee 5. Louisiana
has taken the lead among tn
! States in establishing ! sts'em #
. uricuItutai iiaaner for the benz Il
Of ne t.'me's, md thus pinNli't Z
for reduction in the high cost Of
living, according 10 a statement
given out to day 10y Representative
Broussard, which was prompted
by the conferences o. Governors
Yesterday at the White House
with President Taft on rural cred
its Mr. Broussard said: ~ am
glad to read oi he twenty AK
Governors yesterday seeking to
devise means 10 improve lh"
condition Of our farmers. Pre;l
dent Taf,'s statement, like that ot
Ambassador Ilculck. IN this re
81, ct, is III eIeslllG. We OF Lou
isiana, however, have b'azed the
way TO solve The primary difficulty
which has sought 10 be remeditd
by tins meetiug. The great tIon,
bic with he cost Of living lies IN
the fact that the farmer operates
on capita. which has no banking
value. He cannot borrow money
banking system. There SHOULD be,
PROFESSIONALLY, an avenue OF
financial aid gwen The farmers
upon the md value, not HE farm
production value. which should
aid him ii growing ,he crop TO
which bis land j. adapted. II
there were such IA market, AZ the
Governors who met yesterday are
trying 20 create, for the value Of
the lands owned by the farmers OF
Ibis cou'. !, aonio l,.alt III a
larger p.ndut .; a larger pro
duction M.i.i iii result III lowering
the pl,ces Of the things We con
, snme am glad o note that the
. subcommlit.e of the Banking ami
Currency omml'tee Of he House,
| whose chal, man ~ my colleague,
!, Mr.. Pnj through Representative
. Glass, proposes to give ii hearing
TO Ambassador ilerrick on THIS
/ question. !,
! "Bnt Louisiana already has
J solved, we think, he question
Z which the Ambas sador proposes
r to present. At he last general
0 election we adopted an amend
t men, to our constitution exempt
0 ing from taxation for a period ol
' twenty years companies organize
t for the sole purpose OF loanlnl
/ money on Louisiana farm lands a
interest not TO exceed 8 per cen
J net to the borrower.
Z .If the courtesy is granted D!
> the Committee on Banking ant
= Currency will request a hearing
Z before the committee for IL. ,
Armstrong of New Orleans, VIII
y has devoted considerable study e
this question, 10 explain 70 th'
d committee, and through the com
y ;nittee to the country, the advan
Il tages The Louisiana plan will be
9 stow upor1i he farming and coDsnm
u ing element of our population.
e Mr.. Armstrong said:
!" ssl.ouislana has adopted move
: men, that is Il practical solution o
), the high cost of living. We hay
= inaugurated in our State a syste1
;, of agricultural credits by extend
- ing financial assistance to Ou
- farmers, which will make none
= easily procured for farm develop
y mpnts. fixing low rates Of interes
= and long periods of years iIl whlc
:, to repay. Al he recent eltctlO
!" IN Louisiana we adopted 10y a
a. owe, wbelu,iDg ma jority a cons ,lt'
- liOnal amendment esemptlhg frol
!" taxation companies organized ~
" The purpose of IoaDing money 0
farm lands at interest not TO =
r. ceed 6 per cent net to the borrow
ne rr, which makes the State the =
Al oneer in the movement to exten
OF rural credits to the farming con
"I mnnity Louisiana ls an agilcu
be tural State; our lands need no a
.4tic,al fertilizer. What the LOul
or ,ana farmer needs Is caplta an
an plenty of time To repay. r.
,e sure that o, her agricultural State
of az soon as our plan is understood
RI. ALL follow the lead of LOuiSlai
in N this matter of such great N
ment."
he Credit for starting the agItatlt
lc in this country 10 establish a sy
b. EN- If agricultural france bel0nl
y, . the Southern ! ommerclai CO
"a. gess, which at its last conventl'
in n, invite, Tenn discussed e
u, ,e, aud provided for an Ame
.a,, q. mmi>s ion TO investigate
al ii a,clli systems in Enrol
rhis commission will sail for Lf
- don ,ext April and spend th'
the ,,,t. t,.suQ.i iUafi y all EutUl