The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-10-24
Banking and Currency Com
mittee to Work for Agricul-
tural Credit at the Next
Session.
Governor Stokes Declines Joint
Debate with Carter Glass
Invite Wilson to Richmond
Acknowledgment Gets APP
pointment.
ny GEORGE H. MANNING.


WASHINGTON, Oct 2s.--The next
session of congress VIII undoubtedly
pass legislation providing for an agri-'
cultural credit system. The enactment
of this Liquidation will be the most i'm
'portant thing that has been done to
benefit tho farmer In the last twenty
Ave years. 1t will, In fact, be the
Farmers bill"
Efforts have been made to get pro-
vision in the pending currency bill for
rural credits. They failed in the house
because tho president did not want the
matter handled In connection with the
currency bill. Most of the house lead
ers took the same view. SO the sub
Ject will have to be treated as a sepa-
rate piece OF Legislation. 1t will be so
treated unless the senate which Is 60
Ing to give the currency bill "A thorough
overhauiing, decides to make "A pro-
vision for 1t. which Is unlikely, Should
II do so. however. the house could not
well turn 1t down.
To EXPLORE the Field.
In any event. the house committee
on banking and currency has decided 10
explore the field of rural credits and
q subcommittee has been named by
Chairman Glass to make invest atoms
and prepare a bill This will be sub
mitted TO the coming session of con-
gress Enactment of Legislation on
the subject may be looked for at that
time.
Pressure for the legislation is strong
Both parties are for 1t. Demand for II
In the agricultural sections is grow
ing People In this country. especially
In the Southern STATES and the agrt-
cultural sections. are apprectating more
than ever the fact that Interest rates
demanded for farm loans here are
~ L.
This In great handicap TO farmers
and In no small element in the present
cost Of living. Furthermore. the price
OF land Ii steadily advancing In the
United States. with the high price OF
the land the difficulties In the way Of
thA man of small means getting landed
property are getting more and more
serious.
The Plan in France.
In France, where the interest rates
on farm mortgages are IN the region
OF and AZ per cent, while the rates
here are much higher, il is possible for
tSe man of small means TO buy farm
property because he Is allowed "A long
tisy to pay for II with low interest
rate So IL is In Germany. Supporters
OF the idea of a system Of rural credits
believe system can be put into effect
here containing good features OF the
French system and perhaps of the Ger
man and save vastly In the interest
payments made by the farmer.
The system. IL established. viii not
etcr with merely applications OF an
Improved credit system to loans on
farm landA 1t will be broader than
that Il 10 likely 10 reach out to
loans on live stock, on crops, on homes
In the towns and cities. on small busi-
ness stocks, and on comparatively own
ed properties in business.
n Ii brings the relief expected. the
reiief will extend not only 10 farmers
and buyers OF farms. but to various
other elements OF the population.
Debate In or.
Apparently suffering from "cold
feet" Governor Stokes, OF New Jersey,
who has on several occasions criticised
the administration currency bill. to-
day declined the challenge extended TO
him by the New Jersey State Demo-
cratic committee to meet Representa-
tive Carter Glass In a joint debate on
the currency ut his home town In Tren-
ton nsxt Monday.
This was learned today by Mr. Glass
from the chairman of the New Jersey
committed who insisted that Glass
speak in Trenton In accordance with
the original plan, regardless of Stokes.
Mr.. Glass also accepted today on
behaif Of the administration an invita-
ZION ext6n00Q Dy SENATOR James nam
ilton Lewis, Of Illinois. TO make an ad-
dress on banking and currency before
the Chicago Association of. Commerce
on November 2Sth. Senator Lewis in
rendering tho invitation declared he
had talked with President Wilson re-
garling the matter and that the presi-
dent had expressed the wish that Mr..
Glass accept the invitation for the
Democratic administration.
Inytted to Richmond.
Another invitation to visit Richmond
was today extended to President Will
son by Senator Martin and Representa-
tive Flood. who as officials of the com
mtttee Of one hundred, organized some
years ago to bring about a bis ami
versary celebration Of the treaty of
4 Client in December, 1914, asked him
TO come to Richmond on December 4th
next
Senator Martin and Representative
Flood introduced the other members
of the committee of one huEdf ed to
the president and explained that those
who are advocating this anniversary
of peace between English speaking
peoples will meet in Richmond Decem-
Der 4th to make the preliminary plans
for the celebration. President Wilson
said he would be pleased to consider
the invitation and would at a later date
advise the Virginians whether 1t will
We possible for him to attend
Names r. NJ. wampler.
r. Morris Wampler. of Virginia. was
appointed today by United States At
torney Wilson. of the District of &C.
lumbla, as an assistant attorney In his
nfice to fll a vacancy. Wampler Is a
Democrat He will be assigned to
criminal courts and rs prosecutor.
Mr.. Wampler was born in culpeper,
Va, october ], 1883. and received hts