Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1913-04-26
SEEKS REDUCTION in COST
OF living over BERE
Committee Off to Italy to
Investigate

day succeeds in its endeavor to devise
a separate banking system for Ameri-
can farmers. The official name If
the delegation is the American commits
sion on agricultural cooperation. The
investigation is to be made under the
auspices of the Southern Commercial
congress. Its aim is to place cheap
II oney at the disposal of American
farmers in order to increase agricul-
tural production and to lower the cost
of producing food
Secretary of Agriculture Houston
represented the administration at the
farewell given to the commission.
President Wilson takes a keen inter
est in the undertaking and addressed
the delegates personally before they
left Washington.
The commission is headed by seve
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
nOoparoti,yo bonkn apd ~ Y,,Orfua oco
bank system in the United States, coy-
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 a 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 a considera-
ton of the credit requirements of tho
farmers, both as a means of assisting
the farmers and of relieving the con.
sumers of the country from the burden
of the high cost of living.
The work of the commission is close
ly connected with the efforts of the
banking and commercial interests tt
secure currency reform. The princi-
pal claim of those seeking CURRENCY
reform is that under the present bank
ing system which permits banks to re
deposit their funds with other banks
who in turn deposit them in Chicag
or New York, the tendency is to collect
the surplus of the nations funds IL
the big speculative centers, where they
stimulate stock gambling The curren
cy reformers want permission extended
the banks to lend more freely and witt
better returns to those engaged II
legitimate commerce and manufacture
ing work. The American commission
on agricultural cooperation similarli
wants a supplementary banking system
built up which will be controlled b!
the farmers and which will divert {
large portion of the savings of rura
communities to the development of tn,
farms. 1t is claimed that in Germany
such as ystem has been able to supply
as high as SO per cent. of all thC
money required by the German farm
ers for their operating expenses from
such deposits. Similar systems are Il
operation in nearly every country o
Europe. 1t is to study the operation Of
these systems that the commission is
NlSlJiuB lHOSe COuulTteS.
The second attempt of the commits.
sion will be to secure the establish.
ment of a mortgage banking system il
the United States. Such a system in
Germany has brought over $2,0OO,0O0,
600 to the German landowners for thc
development and improvement of their
land In France the mortgage bonds
of the Credit Foncier which are only
the farmers mortgages under differ.
ent form, sell at lower interest rates
than even first class industrial bonds
1t is declared that if mortgage bank
ing system could be established in thu
United States billions of dollars of ad
ditional money could be secured TO-
the farmers at much lower rates ant
on better terms and that with TIN
great development in American farm,