Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1913-08-13
RECOMMENDS THAT CURRENCY
BILL De ENACTED WITH.
OUT AMENDMENT.
DISTINCT FINANCIAL
SYSTEM IS NEEDED
Not Now Prepared to En-.
act Rural Credit Law With Full
knowledge Of sform
Needed hut Must Await Report Of
Commission Studying Conditions.

Washington, Aug. 49, President
Wilson issued statement before the
democratic house caucus resumed con-
sideration Of the administration cur
rency bill to-day. announcing that he
believed 1t not advisable to amend the
measure at present with provisions for
rural credits, but to postpone that
phase Of barking reform until the De-
cember session. when the government
csmmisslon. now studying the subject
in Europe, will have,reported
Representative A. Mitchell Palmer, Of
Pennsylvania, chairman of the caucus,
conferred with the president, and was
acquainted with the contents Of the
statement, thru which 1t was hoped to
persuade so-called insurgent democrats
to abandon their iisilt for agricultural
currency. The president said:
Again and again during the discus
eion Of the currency bill 1T has been
urged that special provisions should be
made in 1t for the facilitation Of such
credits as the farmers Of the country
most stand in need of-agricultural
credit as distinguished from ordinary
CONNIE Tcial and industrial credit.
"Such proposals were not adopted be-
cause such credits could be only i'm
perfectly provided for in such a meas
ure. The scope And character Of the
bill, its immediato and chief purpose,
could net be made to reach as far as
the epeeiAl interests Of the farmers re-
|Quire.
Must Provide Distinct eystsm.
Special machinery and a distinct
system Of banking must be provided
for Il rural credits are to be success
fully and Adequately supplied. A gov
ernineht coinniissioa Is now In Europe
studying the 1ntel>ptiHg and highly
successful methods which have been
employed in several countrieS sofs the
old world ana Its report viii be made
to congress- at q regular session next
that congress Will ct that sessivAh as't
on the recommendations Of the report
and establish a complete and adequate
system Of rurll credits. There is no
subject more important 70 the welfare
or the industrial development OF the
United States; there is"no reform in
which, would myself feel Il q greater
honor or privilege to take part, because
should feel thatrit was a service to
the whole country Of tho first maEni-
tude ana Significance 1t should have
accompanied and gone hand IN hand
with the reform Of our banking and
currency system II we had been ready
to act wisely and with full knowledge
OF what we were about.
!, 1so Little Attention to Farmer.
"There has been too little federal
legislation framed to serve the farmer
directly and with q deliberate adjust
ment 70 his real needs. We long ago
fell into the habit Of assuming that
the farmers Of America enjoyed such
immense natural advantage over
the farmers Of the rest of the world.
were 50 Intelligent and 50 enterprisins
and so at esse on the Incompatible
soils Of our sfeat continent. that they
coud feed tho world and prosper. no
matter what handicap they carried, no
matter what disadvantage. whether OF
tho law or Of natural circumstances.
they labored under.
1--WE have not exaggerated their ca
pacity or their opportunity but we
have neglected to analyze the burden
some disadvantages from which they
were suffering and have too often
failed to remove them when we did
see what they were.
Rural crsdits Promised Soon.
sour farmers must have means af-
forded them Of handling their finan-
cial needs easily and inexpensively.
They should be furnished these facil-
tiles before their enterprises iansu!sh.
not afterwards.
"And so they will be. This Is our
next great task and duty. Not only
is the government commission about to
report, which IL charged with apprising
the congress OF tho best methods yet
employed in this matter. but the de-
partment OF agriculture has also un-
dertaken a serious and systematic
study Of tho whole problem Of rural
credits. The congress and the execu-
tive working together will certainly af-
ford tho needed machinery Of relief and
prosperity to the people OF the coun-
trysides ana that very soon."