Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1913-08-14

checkmating the movement in the
house democratic caucus 20 load down
the administration currency bill with
a comprehensive scheme for rural
credits, which the senate would refuse
to accept. The success of this plan
would have meant the complete fail
ure Of Mr.. Wilson's currency program.
HOPES FOR FARMERS CONFIDENCE
1t is believed by the president that
the congressional representatives Of
the farmers will be satisfied with the
promise he has made and will agree TO
the passage of the currency bill as it
was reported by the house committee
on banking and currency.
This move on the part Of the presi-
dent shifts the battle lines on the
question of currency reform back TO
the senate.
There will be a democratic caucus
tomorrow to determine whether OF
not there shall be currency legislation
at this session. A strong effort will
be made to force through a resolution
to be offered by Senator Lewis of Hi
nois, providing for the passage Of the
tariff bill by Sept. and a recess until
Oct. 10, when congress will reassemble
to consider currency. The president
is not in sympathy with this plan and
hopes TO beat it. He served notice on
q number Of the democratic opposition
yesterday that he must insist on con-
gress remaining in session and acting
on this important question.
STATEMENT MADE BY WILSON.
The presidents statement with ref
erence TO rural credits is as follows
Again and again during the discus
sion OF the currency bill it has been
urged that special provision should be
made in it for the facilitation of such
! credits as the farmers of the country
most stand in need of-agricultura,
credit as distinguished from ordinary
! commercial and industrial credits.
such proposals were not adopted
! because such credits could be only i'm
perfectly provided for in such a meas.
ure. The scope and character Of the
bill, its immediate and chief purpose
could not be made TO reach as far as
! quire.
Special machinery and a distinct
system of banking must be provided
for if rural credits are to be success
fully and adequately supplied. A gov
eminent commission is in Europe
studying the interesting and highly
successful methods which have beer
employed in several countries of the
old world, and its report will be made
to congress "a a regular session mex
winter 1t is confidently to be ex
pected that the congress will at tina
session act upon the recommendation
Of that repor. and establish a com
plete and adequate system of rura
credits.
TOO LITTLE AID TO FARMER.
There has been too little fedora
legislation framed to serve the farme
directly. We long ago fell into tn
/ habit of assuming that the farmers O
America enjoyed such an immens
natural advantage over the farmers c
4 the rest of the world, were so INTEL
gent and so enterprising and 50 a
ease upon the incompatible soils {
our great continent that they coul
| feed the world and prosper no atte
feed the world and prosper, no matte
what disadvantage, whether Of the la
or Of natural circumstances, they i
bored under We have neglected I
analyze the disadvantages from whic
4 they We're suffering and have too ofte
4 failed TO remove them when we d
4 see what they were.
Our farmers must have means a
4 forded them of handling their final
4 cial needs easily and inexpensivel
They should be furnished these facil
A ties before their enterprises languis
A not afterwards.
And they viii be. This is OIL
next great task and duty. Not only
4 a government commission about to T
4 port which is charged with apprisir
the congress of the best methods "
4 employed in this matter, but the d
i partment of agriculture has unde
A taken a serious and systematic stuC
4 of the whole problem of rural credit
a The congress and the executive, wOr
A ing together, will certainly afford Il
a needed machinery of relief and pro
A perity of the people of the countr
4 sides, and that soon"
NEEDS OF FARMERS GREAT.
The presidents statement shows h
appreciation of the financial needs
4 the country's agriculturists. The
a are 100000 farmers and 100000
people directly dependent on agricl
A ture. The value of the property ownt
4 by farmers is estimated to be $4,000
4 100000 and the value of the annu
4 products is fixed at S9,50O000,000.
a The farmers claim they pay his
A prices for the supplies they requi
a and are burdened with high rates
interest and inadequate credit faci
A ties wholly out of proportion to the
A resources and of a character not I
a sponsive to their needs.
q Senator Fletcher, chairman of Il
a committee, said in the senate a fe
a days ago that broadly speaking Il
a needs of agriculture can be met on
a by a separate and distinct system
a banking. Credit associations, bas
on cooperation, organized and mana