Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1912-10-14

societies along the lines OF the Land
sChuftcn societies Of Germany, pro-
vidcd that uniform state legislation
can br secured tn govern their organ
iZutiun und operation. As n lator step.
| favor the enactment OF laws by
congress permitting the organization
at national laad- mortgage banks. to
be- operated under strict government
supervision with tho power to guar
autoc und market the guaranteed de-
bcnturc bonds of the state land mort
gage banks or cooperative societies. /
rec nnm,nd for your consideration tn"
report nnd recommendation of Am
oassad dor Herriok,. -publtAlaasl- hAi- thu.
department, Of state for general dis
tribution.
"rhr twelve millions of farmers Of
the United states add each year to
the national wealth $500, 600, 900.
T.cy are doing this on 4 borrowed
capital of $G,uIU.UUo. 900. On this sum
they pay annual interest charges OF
$5IO, OOU,0OO. Counting COMMISSIONS
and renewal changes, the interest rat"
paid by the farmer ul tuU country is
averaged at Sia per cent. as rompor-
cd tu a rate Of o.. a. '.r per cent
pnld hy t!tc farmrr for Instance, of
France or Germany.
Again. the Interest rate paid by
the American farmer s 0"nsld"rably
higher than that paid % our indus
tfiul corporations, rHlir. ds, ur mu-
inequalities. Yes, | thlr. II viii he
admitted TINT the s"ru.i, offered by
the farmer In his fnrm "uds Is quite
as sound as that offered ur Industrial
| corporations why then viii not tho
investor furnish ia" farmer with mo-
| ncY at MS advantageous t''rs IN hc ~
willing 10 supply The .ui Istrihl COR
| purutiunsp Obviously. l.. advantage
| enjoyed by the industriu corporation
| Hes In the financial mI.uu"ry at us
! command, which permit II 10 place
| itY ofrr before the inNr.lHr ia more
| attractive aud more rcau. negotiable
| form. The farmer hacks lnls machin-
cry. and, mcKIng II, IA" suncrs unroa'
sunably. This In not th'"r,.
"But the advantage o. be gained
hy the adoption uf th" Ian 20 be
| y0nd the direct suNiur IN Interest
charges To the farmer 2 D" great ne
ccssity which prompted lHo establish
mcnt and cXtcnsuu "' TINS plht
throughout Europe Vas lnt of check
ing % rapidly Hdy1uriua increases II
| tho cost of fOOdstuns brought hbOu
by the Inevitable lncrrls, ir consump
lion aud tho failure ui Tho lonK-dralh
cd soil 10 AFFORD core bonding IN
crease In productions Thdt problem
faces the people at 'n.H country 10
day-nOt In 80 sever" form AZ
threatened tho older r"nnuies o
Europe, but, still, ns % great AM
pressing economic proh"m'
I'm Europe this pr"bl'm has beef
successfully met, hrsL by reducing IN
cost 10 the farmer 0f producing nj
srOps and, SECONDLY, by increasing NJ
production through the adoption o
improved methods Ut cultivation. Bot
the federal and state governments II
this country nave done much TO amor
the farmers instruction In Improves
, agricultural methods. liut II still re
mains for us 10 reduce the cost OF tn
, farmers production by anording hlT
. the necessary capital for the explo
1 tatlon OF his soil upon tho most ad
, yantaEeous terms lie must be al
o fordOd the money necessary for hlI
q Ia adopt improved methods. II muI
be made profitable for him to plac
= every acre OF his ground under cult
walton. This offers the consumer n
!, lief from the increasing cost OF food
. stuffs." .t
n President Taft strongly deprecat'
4 any idea Of establishing cooperati'
n credit in the United states thTouG
:. the support Of government subnldies.
4 1--WE must establish credit syEte
r OF, for. and by the farmers OF u
e United states" he writes. THE coul
- try enjoys today great prosperity q
j. factories are busy. the workinamI
d are employed. and eyerywhere u