The Barre daily times. (Barre, Vt.) 1897-1959, 1913-12-02
FARMERS NEED
GOOD SYSTEM
OF CREDITS

tator.
Gas consequence, condition OF al
fairs now exists in Mexico which has
made it doubtful whether even the most
elementary and fundamental rights
either of her own people or of the citl-
zens of other countries resident within
her territory can long be successfully
safegnarded, and which threatens, if long
leo'ntinued, to imperil the interests OF
peace, order. and tolerable life in the
lands Immediately to the south of us.
Even if the usurper had succeeded in his
purposes, in despite of the constitution
of the republic and the rights of its peo-
| pie, he would have set up nothing but a
precarious and hateful power, which
could have lasted but little while, and
whose eventful downfall would have left
the country in more deplorable condi-
| tion than ever. But he has not succeed
ed He has forfeited the respect and the
moral support even of those who We're
at one time willing to see him succeed.
Little by little he has been completely
isolated BY a little every day his pow
er and prestige are crumbling and the
collapse is not far away. We shall not,
| believe, be obliged to alter our pol
| icy of watchful waiting. And then,
when the end comes, we shall hope to see
constitutional order restored in dis
tressed Mexico by the concert and energy
of such of her leaders as prefer the
liberty of their people to their own am
bitions
Farm Credit System Needed.
Il turn to matters of domestic con-
cern. You already have under consid-
Grafton bill for the reform OF our sys-
tenn of banking and currency, for which
the country waits with impatience, as
for something fundamental to its whole
business life and necessary to set credit
free from arbitrary and artificial re-
straints. ] need not say how earnestly
hope for its early Enactment into law.
take leave to beg that the whole
energy and attention of the Senate be
concentrated upon it till the matter is
successfully disposed of. And yet | feel
that the request is not needed-that the
members of the great House need no
urging in this service to the country.
j present to you, in addition, the
urgent necessity that special provision
be made also for facilitating the credits
needed by the farmers OF the country.
The pending currency bill does the farm
ers a great service. 1t puts them upon
an equal footing with other business
men and masters of enterprise, as II
should; and upon its passage they will
find themselves quit of many of the diiti-
cultes which now hamper them in the
field of credit. The farmers, of course,
ask and should be given no special priv
ilege, such as extending to them the
credit Of the government itself. What
they need and should obtain is legisla-
tion which will make their own abund-
ant and substantial credit resources
available as foundation for joint, con-
certed local action in their own behalf
in getting the capital they must use. IL
is to this we should now address our
selves.
ut has, singularly enough, come to
pass that we have allowed the industry
of our farms to lag behind the other ac-
tiyities of the country in it's develop
ment. / need not stop to tell you how
fundamental to the life of the nation is
the production of it's food. Our thoughts
may ordinarily be concentrated upon the
cities and the hives of industry, upon
the cries of the crowded market place
and the clangor of the factory, but 1T is
from the quiet interspaces of the open
valleys and the free hillsides that we
draw the sources of life and of prosper
ity, from the farm and the ranch, from
the forest and the mine. Without these
every street would be silent every office
deserted, every factory fallen into disre-
pair. And yet the farmer does not stand
upon the same footing with the forester
and the miner in the market of credit.
He is the servant of the seasons. Ma
ture determines how long he must wait
for his crops, and will not be hurried in
her processes. He may give his note,
but the season of its maturity depends
upon the season when his crop natures,
lies at the gates of the market where his
products are sold. And the security he
gives is of a character not known in the
brokers' office or as Familiarity as it
might be on the counter of the banker.
Agricultural Department Assists.
"The agricultural department of the
government is seeking to assist as never
before to make farming an efficient bust
ness, of wide cooperative effort, in quick
touch with the markets for foodstuffs.
The farmers and the government will
henceforth work together as real part
ners in this field, where we now begin to
see our way very clearly and where
many intelligent plans are already be-
ing put into execution. The treasury of
the United States has, by timely and
well-considered distribution of its depos-
its, facilitated the moving of the crops
in the present season and prevented the
scarcity of available funds too often ex
perienced at such times. But we must
not allow ourselves to depend upon ex-
traordinary expedients. We must add
the means bv which the farmer may
make his credit constantly and easily
available and command when he will the
capital by which to support and expand
his business. We lag behind many other
great countries of the modern world in
attempting to do this. Systems of rural
credit have been studied and developed
on the other side of the water while we
left our farmers to shift for themselves
in the ordinary money market. You
have but to look about you in any rural
district to see the result, the handicap
and embarrassment which have been put
upon those who produce our food.
Conscious of this backwardness and
neglect on our part, the Congress recent
ly authorized the creation of a special
commission to study the various sys-
TENS of rural credit which have been put
into operation in Europe, and this com
mission is already prepared to report.
Its report ought to make it easier for us
to determine what methods will be best