The Washington herald., 1913-08-14
THEPRODuCERS
ARE Cared FOR
Crops Have Continually Been
Financed by Bankers All
Over the Country.
THE ELEVATOR TRUST
The Boil Weevil Of Western Asri-
eulturist-New York and
Local Stocks.
BY 1. A. FLEMING.

President Wilson evidently believes
that the farmers of the country, the
agricultural communities, need assistance
not provided for in the proposed cur
rency revision. That the lawmakers do
not know Just how to cover the ques-
ton, rather than a disposition to ignore
the farming community, is the reason
for the omission.
Risk always demands compensation.
Crops are in a measure dependent on
conditions. For this very reason the pre-
mortgaging of a probable crop must
necessary result in the payment of in
terest until such time as philanthropists
step in.
Wherever sufficient capital is lacking
for an enterprise undertaken, no matter
in what line of endeavor it may be di-
rected, capital. supplying the deficiency.
demands its toll.
Rates vary. An enterprise depending
on the elements for success is perhaps
more hazardous than the erection of
building; the percentage of assistance
extended is factor in consideration, just
as the security offered features more
than anything else.
1t is probably a fact that the banks
Of the West and South are today doing
all that is essentially necessary finan-
ciaIly in and of the farming community
just as they have for decades and it is
indeed very questionable If they are not
completely filling the bill.
In a rural community the farmer with
a reputation for honesty and willing
ness to work is welcome to the bank;
his paper is easily discounted.
Has Long Credit.
He has a larger share of credit than
many Of his less fortunate city brethren,
perhaps, because he pays better and
needs it more. even If he is slower and
he cannot take advantage of bank
ruptcv proceedings.
His actual condition is more or less
a matter of general knowledge in the
community and his greater success or
failure is quickly sensed.
Town bankers know the rural COM
munity. know them by the first names.
and make the needed loans. City banks
extend credit to rural banks: larger
bankers extend the credit to the smaller
city bank and the Treasury has occasion
ally a few millions to give to the
big reserve center banks.
It's an endless chain and fills all wants
and has filled them for years. with &C.
casional lapses when Wall Street has alb |
sorbed more than its share of the funds. |
when Europe has drawn too heavily on |
her credits and other foreign countries
are in a stringency.
Money invariably seeks the greatest
u bll4EldIc HtCtSSllS Tie DSSl ldNts
are obtainable
Expansion of all kinds creates string
ency, and even the spread of the au-
tomobile fever has its dangerous ASPECTS
at certain times.
Everybody Trusts.
Country merchants trust the farmer,
son1e of them from seed to crop and from
year to year. Others exact six months
settlements Some few have taken the
trust sign down and are demanding the
cash.
The jobbers trust the merchants: the
manufacturer trusts the jobber; the
bank trusts them all, and between them
all. the credit of the country moves
steadily along.
Credit needs no new financing. The old
way is still the way.
Needs of the Farmer.
What the producers of the great middle
and Western sections of the country.
Bird probably the South as well, neeo
more than anything else is emancipation.
Emancipation from the elevator clique,
from the near-robbers who, from Chica-
20. Omaha, Minneapolis. and other cen
trail points. wire each morning to their
agents scattered in charge of elevators
Ind warehouses over all States. advising
Exactly what price will be paid on that
Gay per bushel for all grains. And WHEN
CONTINUED on PAGE NINE.