The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-08-14
SPECIAL MACHINERY
FOR RURAL CREDITS

OF the United States there is no re-
form In which | would myself fool II
a greater honor or privilege to take
part. because / should feel that il vas
service to the whole country of tho
first magnitude and Significance II
should have accompanied and como
hand In hand with the reform OF our
banking and currency system IL we had
been ready to act wisely ana with fun
knowledge of what we we're about.
Not Enough LcSisintIon
There has been too little Federal
legislation framed to serve the farmer
directly and with n deliberate adiust-
ment to his real needs. We long ago
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 enterprising
and so at ease upon the incom parable
soils of our great continent. that they
could feed the world and prosper no
matter what handicap they carried, no
matter what disadvantage, whether of
the law or of natural circumstances
they labored under. We have not
exaggerated their capacity or their Up
portunity, but we have neglected TO
analyze the burdensome disadvantages
from which the: were suffering. and
have too often failed TO remove them
when we did see what they were.
One OF the chief and most serious
Of these disadvantages has been that
ne has not been able to secure the ex-
tended bank accomm odations he every
year stands in need OF without paving
the most burdcnsoTrc rates of interest
and saddling himself with MORTGAGES
and obligations OF every kind. which
he fairly staggered under, IL he could
carry them at all. In other countries
systems of rural credit have been put
into operation which have not only re-
L l. II
tcrprises upon footing OF easy accom-
plishment Countries in which agri-
culture was fatally languishing because
wholly Improbable have seen their
farming lands blossom again and their
people turn once more hopefully 70 the
have similar means afforded them Of
handling their financial needs easily
and inexpensively. They should be
furnished these facilities before their
enterprises languish. not afterward.
Next Great Duty.
And they will be. This is our next
great task and duty. Not only is a
government commission about TO re-
port which is charged with apprising
the Congress of the best methods yet
employed In this matter. but the De-
partment OF Agriculture also has under
taken a serious and systematic study
OF the whole problem Of rural credits.
The Congress and the executive, work
ing together, will certainly afford the
needed machinery Of relief and pros
pcrity to the people of the countrysides.
and that very soon"
Received with Subtraction.
In Congress President Wilson's state
ment as to rural credits was received
with satisfaction by Democrats. who
have been expecting such a pronounce
ment as a result of the negotiations in
behalf Of the pending currency bill.
The statement was generally accent
cd as n concession TO the Democratic
insurgents In the House. who are con-
tending for amendment of the currency
bill along the lines proposed by MIR.
Ragsdalc and Mr.. Henry. of Texas, for
currency issued against agricultural
products.
Abatement OF the opposition of the
insurgents is confidently expected as
the result of the Presidents assure nee
that he is in favor of rural credit
system or some kind Of currency con
cession to the farmers. although he
does not think the pending bill the
proper conveyance for such provision
Chairman Owen OF the Senate
Finance Committee. said to-day he
would favor taking up the subject at
the next session OF the Congress, but
did not believe IL practicable 10 con-
slider it in connection with the cur
rency bill, which he thinks should re-
ceivc prompt action at this session.