Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1913-08-20
DELAY IS URGED
ON RURAL CREDITS
President Expresses Views in
Statement From White House.
SEES NEED OF NEW PLAN
Says Special Machinery Of Distinct
Method Of Banking Must Be Pro
Vlded to Insure Success
Of idea.

Washington, Aug 1.-THE president
issued a statement Wednesday an
nouncing that he believed it not advis-
able to amend the administration cur
rency measure at present with provis-
ion for rural credits, and urged post
poning that phase of banking reforms
Hntil the December session, when the
government commissions now studying
the subject in Europe will have re-
turned
Democratic insurgents" on the cur
rency question. however, after the
caucus had spent mere than five hours
discussing it, were confident they
would obtain material amendments
looking to the providing of money to
farmers.
The president said:
Again and again during the discus
sing OF the currency bill it has been
urged that special provision should be
made In II for the facilitation of such
credits as the farmers of the country
most stand IN need agricultural
credit as distinguished from ordinary
commercial and industrial credits.
Such proposals were not adopted
because such credits could be only
lmperfectly provided for in such a
measure The scope and character OF
the bill, its immediate and chief pur-
pose, could not be made to reach as
far as the special interests of the far
mer require.
Special machinery and a distinct
system OF banking must be provided
for II rural credits are to be success
fully and adequately supplied. A gov
eminent commission is now in Europe
studying the interesting and highly
successful methods which have been
en- ployed in several countries of the
old world and its report win be made
to congress at a regular session next
winter
1T is confidently to be expected that
the congress will at that session act
upon the recommendations OF that re-
port and establish complete and ade-
quate system of rural credits. There
is no subject more important to the
welfare or the industrial development
OF the United States; there Is no re-
form In which I would myself feel It a
greater honor or privilege to take
part because l should feel that IL was
a. service to the whole country of the
first magnitude and significance. It
should have accompanied and gone
hand In hand with the reform OF our
banking and currency system il we
had been ready to act wisely and with
full knowledge Of what we we're
about
There has been too little federal
legislation framed to serve the farmer
directly and with a deliberate adjust.
ment to his real needs We long age
fell into the habit OF assuming that
the farmers of America enjoyed such
an immense natural advantage over the
farmers OF the rest OF the world, were
so intelligent and so enterprising and
so az ease upon the incompatible soils
of our great continent that they could
feed the world and prosper, no matter
what handicap they carried, no matter
what circumstances they labored un
der. We have not exaggerated theil
capacity or their opportunity, but We
have neglected to analyze the burden
some disadvantages from which they
were suffering and have too otter
failed to remove them when we die
see what they were.
Our farmers must have means af
forded them Of handling their fnan
cial needs; easily and inexpensiyely
They should be furnished these facili
ties before their enterprises languish
not afterward
And they win be, This il our mex
great task and duty, Not only is ;
government commission about to re
port which is charged with apprisinl
the congress OF the best methods We
employed In this matter. but the de
partment of agriculture has also I'm
dertaken a serious and systematit
study of the whole problem of rura
credits The congress and the execu
tive. working together. will cerainl.
afford the needed machinery relief AM
prosperity TO the peopel of the coun
hysides, and that very soon"
General discussion on the measur
in he caucus viii continue. and il i
pro ,ahle that the bill will be befor
the caucus for at least the remainde