Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1913-08-13
CURRENCY BILL
next ON THE
LIST
IT IS DISCUSSED IN DEMOCRATIC
CAUCUS OF the HOUSE, WHICH
LISTENS TO AN EXTENDED AND
EXHAUSTIVE STATEMENT BY
PRESIDENT WILSON.
ASKS FOR DELAY ON
RURAL CREDIT MEASURE

Washington, d. c., Aug. 13.-Presi
cent Wilson issued statement be-
sumed consideration of the admins
tration bill today. announcing that he
elieved it not advisable to amend
the measure at present with provis
IONS for rural credits but to postpone
that phase of banking reform until
tie December session, when the gov
Crnment commission now studying
the subject in Europe will have re-
ported
Representative A. Mitchell Palmer,
chairman of the caucus, conferred
with the president and was acquaint
cd with the contents of the statement,
through which it was hoped to per-
suade so-called insurgent Democrats
to abandon their fight for agricultural
currency. The president said:
Again and again during the discus
SION of the currency bill it has been
urged that special provision should
be made in it for the faciitation OF
such credits as the farmers Of the
country most stand in need of-agri-
cultural credit as distinguished from
ordinary commercial and industrial
credits.
Such proposals We're not adopted
because such credits could be only
imperfectly provided for in such a
measure. The scope and character or
| the bill, it's immediate and chief pur.
pose, could not be made to reach as
far as the special interests Of the
farmer require.
/ Special machinery and d distinct
! system of banking must be provided
| tor if rural credits are to be success
fully and adequately supplied A gov
trnment commission is now in Europe
studying the interesting and highly
successful methods which have been
| employed in several countries of the
F! cid world, and it's report will be made
to congress at a regular session next
winter. 1t is confidently to be expect
ed that the congress will at that ses
sion act on the recommendation or
that report and establish a complete
! and adequate system of rural credits.
There is no subject more important
| t. the welfare of the industrial de-
yelopment of the United States.
There is no reform in which | would
myself feel it greater honor or privi-
| lcge to take part, because should feel
that it was service to the whole
country of the first magnitude and
significance. 1t should have accom-
panied and gone hand in hand with
! the reform of our banking and cur
rency system if we had been ready to
| act wisely and with full knowledge of
that we were about.
There has been too little federal
! legislation framed to serve the farmer
directly and with 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 enterpris-
! ing and so at case on the incompar-
able soils of our great continent that
they could feed the world and pros
per no matter what handicap they car
lied no matter what disadvantage.
whether of the law or of the natural
circumstances, they labored under.
We have not exaggerated their ca
pacty 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.
Our farmers must have means ar
f0rded them of handling their fnan.
ciaI needs easily and ineXpensively.
They should be furnished these facili-
lies before their enterprises languish
not afterwards.
And they will be- This is our next
great tas and duty. Not only is a
government commission about to re-
port, which is charged with apprisirg
the congress of the best methods yet
employed in this matter, but the de-
rartment of agriculture has also un-
dertaken a serious and systematic
study Of the whole problem of rural
tive, working together will certainly
afford the needed machinery of relief
and prosperity to the people Of the
oountrysdes and that very soon"