The Tabor independent. [volume] (Tabor, S.D.) 1913-19??, 1913-05-01
COMMISSION SETS
SAIL FOR EUROPE
TO STUDY CREDITS
Hope to Devise Plan to Provide
Cheaper Money for Financing
Farmers and Legitimate
Industry.

New York, April ga further jolt
Is to be given the high cost Of living
IL the delegation OF 100 Americans
which sailed from here for Naples to-
day succeeds in it's endeavor TO devise
a separate banking system Tor Amer
lean farmers. The official name Of the
delegation is the American commits
sion on agricultural Cooperation. The
investigation is to be made under the
auspices of the southern commercial
congress. It's aim is to place cheap
money at the disposal of American
farmers In order to increase agricul-
tural production and to lower the cost
Of producing food. @# #
Secretary OF Agriculture Houston
represented the administration at the
farewell given to the commission Pres
ident Wilson takes a keen interest In
the undertaking and addressed the del
egates personally before they left
Washington. sg&r."... "l -..s..
Report to Congress.
The commission Is headed by seven
federal commissioners bearing he cree
d~entials of President Wilson y Sec
rotary of State Bryan, They will make
a. MBoTt to congress upon the prac-
ticabi1ity or establishing farmers CO.
operative banks and q mortgage bank
F system In the United States, copied
after the agricultural credit systems of
European countries. Besides n fed
eral commissioners there are delegates
representing .aboht three -fourths of the
states or the Union who will make a
report to a committee of nine gov
errors appointed at the last confer
ence of the state executives. In this
way official recommendations Will be
placed before congress n the state
legislatures urging a consideration OF
the credit requirements of the farmers
both as a means OF assisting the farm
ers and of relieving the consumers OF
the country from the burden Of the
high cost of living.
Y l55 Help Legitimate Trade. g..
The work of the commission is close
" connected with the efforts of the
/ banking and, commercial interests to
| secure currency reform. The principal
claim of those seeking currency re-
form isjthat under the present bank
ing system which permits to re-
deposit their funds with other banks
| who in turn deposit them in Chicago Oh
New York, the tendency is to collect
the surplus of the nations funds In
the big speculative centers where they
stimulate stock gambling, The cur
rency reformers want permission
tended the banks to- lend more freely
and with better returns to those en-.
| gagged in legitimate commerce ano
manufapturtng, work. The American
| cofntnIssiSng on Agricultural co-operat
| tiSnS sin1iiariy wants Supplementary,
| banking system built DIP which Will b,
controlled, by, the farmers and. which
will diVeft h large portion of, the saw
ings of rural communities to the de
| velopment ofsthe farms. 1t is claimet
| that in Germany such a system ha'
| been able to supply as high as 9S pc
tscetst2uesat all the money REQUIRED by, IN
Herman farmers for their operating qx'
penses from such deposits. Similal
| systems, are in operation In 'nearl!
every country of Europe. IT. Is 70 stud,
|, the o~peration of these systems that tn,
I commission Is visiting those countries
I = TgMortsaos Banking ,System,s}ar,.
The second attempt, Of the commits
sion Viii be to secure the establish
tment bf a mortgage. banking system IL
I the United States. Such q system, IL
Germany. has brought over $4,000,
|, OOO, 900 to the, German land owners 70
T the development and Improvement o
/ their. land. 4 In. France h mortgag'
bonds Of the credit foncIer, which ar
d only the. farmers mortgages under
different form, sell at lower interes
rates than even first lass industrial
bonds. 1t Is, declared that II a mort
gage banking system could be estab
lished in the United States billions o
/ dollars of additional money could be Sc
cured for the farmers at much lowe
rates and on better terms and tina
with the great development in Amer
| lean farms which this money woul'
make possible, the problem OF goo'
production. in the United States. whicl
is. rapidly becoming worse, would b
II solved for ever. 49,. d.
H., Personnel Of Committee.
The federal commissioners appoints
by the president are Senator Duncan I
Fletcher, lawyer-farmer, and presiden
of the southern commercial congress
Senator Thomas p. Gore, of Oklahoma
chairman of the Senate committee Of
agriculture; Representative Moss, o
Indiana, who was a farmer before h
entered congress, and Is now chairman
of the House committee on expenditure
in the department of agriculture; Co
EHarYie Jordan, former president of tn
farmers union; Kenyon l.. ButterfielC
a member Of President Roosevelt
country life commission, and presiden
OF Amherst college; John Lee Coulter
the governments expert on agriculture
statistics, and DR.. Clarence ]. Owens
managing director Of the souther
commercial congress.
The state delegates include farmers
bankers. lawyers and economists. Win
cent Aston was appointed a delegat
from New York by Governor Sulzer an
the prime minister of Saskatchewa
heads a delegation Of Canadians rep
resenting four provinces of the domin
ion. The commission returns from Eu
rope in August and will then prepar
It's report to congress and the states