The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1913-04-30
All about the Rural Credit
System of Banking in
Foreign Countries.
TO AID THE FARMER
BY Giving Him Easy Money
and Thus Cheaper the
Cost Of Living.

NEW YORK, April 30.-A further
Jolt is to be given the high cost of
living If the delegation of 100 Amer
leans. which sailed from here for
Naples succeeds in its endeayor to de-
wise a seperate banking system for
American farmers. The official name
of the, delegation is the American
Commission on Agricultural Co-opera-
ton. 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
agricultural production and to lower
the cost of producing food.
Secretary of Agriculture Houston
represented the administration at the
farewell given to the commissioner.
President Wilson takes keen interest
in the undertaking and addressed the
delegates personally before they left
Washington.
Federal Men.
The commission is headed by seven
federal commissioners bearing the
credentials of President Wilson and
Secretary of State Bryan. They will
make report to Congress upon the
practicability of establishing farmers
cooperative banks and mortgage
bank system in the United States, cop
led after the Agricultural credit sys-
TENS of European countries. Besides
the federal commissioners there are
delegates representing about three
fourths of the states of the Union who
will make a report to committee of
nine governors appointed at the last
conference of the state executives. In
this way official recommendations will
be placed before Congress and the
state legislatures urging considera-
ton of the credit requirements of the
farmers both as a means of assisting
the farmers andu of relativesetaoin
the farmers and relieving the con-
sumers of the country from the bur-
den of the high cost of living.
s. Work Of Commission.
The work of the commission is
closely commenced with the efforts of
the banking and commercial interests
10 secure currency reform. The prin-
cipal claim Of those seeking currency
reform is that under the present bank
ing system which permits banks to
redeposit their funds with other banks
who in turn deposit them in Chicago
or New York, the tendency is to col
lect the surplus of the nations funds
in the big speculative centers where
they stimulate stock gambling. The
currency reformers want permission
extended the banks to lend more free
ly and with better returns to those
engaged in legitimate commerce and
manufacturing work. The American
Commission on Agricultural Co-opera-
ton similarly wants a supplementary
banking system built up which will
be controlled by the farmers
| and which will divert large por-
ton OF the savings of rural communi-
ties to the development of the farms
1t is claimed that in Germany such a
system has been able to supply as high
as ninety-eight per cent of all the
money required by the German farm
efs for their operating expenses from
such deposits. Similar systems are
in operation in nearly every country
of Europe. 1t is to study the opera
ton of these systems that the COM
mission is visiting those countries.
CONTINUED on page seven.)