The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-12-03

deplorabIe condition than ever. But ht
has not succeeded. He has forfeited th<
respect and the moral support even d
those who were at one time willing Il
see him succeed. Little by little he has
| every day dis power and prestige arc
crumbling and the collapse is not far
away. We shall not, 1 believe be obliged
to alter our policy OF watchful waiting
And then. when the end comes, We shall
hope TO see constitutional order restored
in distressed Mexico by the concert and
energy OF such Of her leaders as prefer
the liberty Of their people to their own
ambitions.
Urges EarIy Enactment.
turn to matters Of domestic concern.
You already have under consideration a
hill for the reform of our system OF
banking and currency, for which the
country waits with impotence, as for
something fundamental to its whole bust
/ ness life and necessary TO set credit free
| from arbitrary and artificial restraints.
1 need not say how earnestly hope for
| its early enactment into law. 1 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 1 feel that the
| request is not needed-that the members
of that great House need no urging in
this service to the country.
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 pend
ing currency bill does the farmers a great
service. 1t puts them upon an equal
footing with other business men and
masters OF enterprise, as it should; and
upon its passage they will find them
selves quit of many of the difficulties
which now hamper them in the field of
credit. The farmers, of course, ask and
should be given no special privilege, such
as extending to them the credit of the
government itself. What they need ana
should obtain is legislation which will
make their own abundant and substan-
tial credit resources available as a foun-
dation for joint, concerted local action in
their own behalf in getting the capital
they must use. 1t is to this we should
now address ourselves.
Farm Industry Lays.
1t has, singularly enough, come to pass
that we have allowed the industry of our
farms TO lag behind the other activities
Of the country in its development
need not stop to tell you how funda-
mental to the life of the nation is the
production of its food.
Our thoughts may ordinarily be con-
centrated upon the cities and the hives
CT industry, upon the cries OF the crowded
market place and the clangor of the fac
tory, but IT is from the quiet interspaces
OF the open valleys and the free nillsides
that We draw the sources of life and of
prosperity, 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
disrepair. 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
Tor his crops, and will not be hurried ia
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
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.
Wide Cooperative Effort.
The Agricultural Department of the
government is seeking to assist as never
before to make farming an efficient bust
ltSc1 VI "lut cooperative I. IN QUICK
touch with the markets for focdstuffs
The farmers and the government will
hencefOrth work together as real part
ners - this field, where We now begin
to see our way very clearly and where
many intelligent plans are already being
rut into execution. The treasury of the
United States has, by a timely and we'll
considered distribution of its deposits
facilitated the moving of the crops in
hT1F nd
scarcity OF available funds too often ex-
perienced at such times But We must |
Eot allow ourselves to depend upon ex-
expedieRts
We must add the means by 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 mod
ern world in attempting to do this Sys-
TENS Of rural credit have been studied |
and developed on the other side of the |
" alter 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.
system of Rural Credit.
Conscious of this backwardness and |
neglect on our part, the Congress re-
Gently authorized the creation Of a spe-
cial 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 /
suited to our farmers. 1 hope and believe /
that the committees OF the Senate and |
House will address themselves to this |
matter with the most fruitful results,
snd I believe that the studies and re- |
Gently formed plans of the Department |
Of Agriculture may be made to serve
them very greatly in their work of franz
ing appropriate and adequate legislation.
II would be indiscreet and presumptuous
in anyone to dogmatIze upon so great
and many-sided a question, but / feel
that common counsel will pro-
luce the results We must all desire.
Stop Private Monopoly.
Turn from the farm to the world of
business which centers in the city and
N the factory, and I think that all
thoughtful observers viii agree that the
immediate service we owe the business
communities of the country is to prevent
private monopoly more effectuaIiy than
{ has yet been prevented. I think II
Will be easily agreed that we should let
he Sherman antitrust law stand, I'M