Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1913-04-26
VOYAGE TO SEEK
CHEAP LIVING
SAXONIA SAILED TO NAPLES
WITH COMMITTEE TO VISIT EU-
ROPE AND INVESTIGATE ECON
ONIIC CONDITIONS THERE.
EUROPEAN SYSTEM OF COOPERA-
TIVE BANKS WILL BE AMONG
THINGS INVESTIGATED IN IN
TEREST OF AMERICAN FARMERS


NEW YORK. April 26.-The steam
ship SaXonia, bound for Naples. carried
delegation of 100 Americans when it
sailed today. The Americans are going
abroad to find the solution of the high
cost of living riddle. The key to the rid
die, according to this delegation-The
American Commission on Agricultural
farmers banking system which will
break up the present flow of money to
Wall Street and send it into the farms
so that the consumers of the country will
have more food and cheaper food.
A majority of the dollars deposited in
American banks today. declare members
of the commission, are bound to find
their way to the speculative markets
since every bank has no alternative un-
der the present banking system than to
deposit large portion of its funds with
other banks which i'm turn place the
funds with the New York or Chicago
banks and turn it over. 10 spectators
under the guise Of call money. The aim
of the American Commission on Agricul-
tural Cooperation is to establish little
cooperative banks i'm every American
farming community which will receive
the deposits of the. comIRtusity and loan
them directly to the farmers for the de
velopment of their farms
Besides the efforts to establish these
farmers banks. the commission will un
,lertake the study of the land banks of
Europe, institutions which garry on the
mortgage business Of the European farm
ers. accepting all mortgages and issuing
bonds based upon them which sell on the
stock exchanges and command as wide
market as any railroad or municipal
bond France has a land bank with a
capital of $50OOO.000 controlled BY the
French government which brings the
farmers loans at Alb per cent as com
pared with the 50 per cent paid on an
average by the American farmers.
If such system can be established in
the United States and billions of dollars
which are poured into the speculative
markets by the banks can be diverted to
the farmers. its is the belief of the coop
eratiye commission that this country
will see such development of its agri-
cultural resources as will solve for one
and all the problem of the high cost of
living.
Once cooperative banks are established
among the farmers. it is said. other co
operative societies will be formed and
the farmers will secure control Of all the
machinery for distributing and selling
their produce.
A federal committee. bearing creden-
tials from President Wilson and Secre-
mission by delegates bearing commits
sion. About ree-fourths of the states
of the union are represented on the com
fission bv delegates bearing commits
siOns from their respective state execu
tives The cooperative commission is a
semi-ofiicial body having the approval
not only Of President Wilson and Secre-
Bryan but also the approval of congress.
Secretary Of State Bryan has instructed
all diplomatic officials of this country
abroad to secure recognition from Euro
pean governments. and the first country
visited-Italy-the commission will be
formally received by the king and queen.
The investigation will be carried OH in
fourteen countries. the commission OK
pecting to cover all the large cities and
large rural communities from Italy to
Norway and from Russia to Ireland. At
is the most costly investigation ever un-
dcrtaken in the interest of American
farmers. Congress appropriated So
900 for the expenses of the federal COM
missiOners and to pay for report on
the subject The house of governors
has appointed a committee of nine gov
ernOrs to receive the report of the dele
gates from the states and legislative
program is to be drawn up by this com
mittce of state executives to be submitted
to all of the state legislatures after it
has been approved by twothrids vote
at the next conference of the house OF
governors.