Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1913-08-13
President Wilson Recommends
Agricultural Credit Pro-
vision Be Postponed Pend
ing Report Of Foreign Com
mission.
HAsTY ACTION FOR
FARMERS DEPRECATED
Present Bill Cannot Reach as
Far as Financial Needs Of
Rural Citizens Require, De-
clared in Statement.
my Leased wire 10 I,enins Herald


Washington. Aug. 10. President
Wilson issued statement before the
Democratic house caucus resumed
consideration OF the administration
hili today. announcing that Dc be-
lieved u not advisable to amend the
measure at present with provisions
for rural credits. bur 50 postpone that
phase of the banking reform until
the December session. when the gov-
ernment commission now studyine
the subject Ia Europe viii have RE-
ported.
Representative a. Mitchell Palmer,
/ chairman OF the caucus. conferred
with the president ana WIS ac-
quainted with the contents Of the
statement through which u was
hoped to persuade sO-cailed insur-
gent Democrats 30 abandon their
fight FOR agricultural currency. The
president said:
Again and again during the dis
cussiOn of the currency bin il has
been urged that special provision
should be made In Il for the faclllta-
tion OF such credits as the farmers
Of the country most stand IN need
of--agricuitural credit az distln-
4 hNlHNEu IfUfu hIuihuIN tnfnnltINfNf
and Industrial credits.
| such proposals were not adopted
because such credits could be- only
lmperfectly provided for In such a
measure. The scope and character
81 the bin. its Immediate aud chief
purpose. could not be made 20 reach
as far a. the special interests Of the
farmer require.
special machinery and distinct
system of banking must be provided
for u rural credits are TO be success
fully ana adequately supplied A
government commission IL now iu
Europe studying the interesting and
highly successful methods which
have been employed IN several coun-
tries Of the old world, and it, report
will be made To congress M regular
session next winter II h confident,
To be expected that the congress vii
at that session act on the RECON-
mcndations cf that report and estah.
lish q complete and adequate system
Of industrial credits. There is nG
subject more important 60 the wei
fare of the Industrial development
| of the United states there TX no re-
form in which / would myself fee
take part because ! should feel tina
Il was service Co the whole coun
Try of the first magnitude and sig
nificance. II should have accompan
led and gone hand In hand with IN
reform OF our banking and currenc.
system II We had been ready 10 nc
wisely and with full knowledge @
what We were about.
There has been too little legisla
tion framed To serve the farmer al
rectly and with a deliberate adjust
mcnt 10 his real needs We long ag
= fell into the habit 1T assuming tha
: the farmers Of America enjoyed sucl
an immense natural advantage owe
: the farmers Of the rest of the world
. were 80 Intelligent ana 40 enterprls
: Ing. and SO at ease on the iucompar
- able soils at our great continent tina
! they could feed the world and pros
: per no matter what handicap the
carried, no matter what disndVan
, tage. whether Of the law or of nal
81 urni conditions they labor under. W
Il have not exaggerated their capacit
q or their opportunity, but We hay
neglected 10 analyze the hurdensonl
. disadvantage from which they wer
n suffering and have too often failed
q remove them when We did see wha
they were
a "Our farmers must have NEAR
r Afforded them OF handling their Z
= nancial needs easily and Inexpensive
! ly They should be furnished th
facilities before their enterprise
nnguish, not afterwards
/, "And they will bee. This is oi
I, next great task and duty. Not on
is government commission ahol
20 report which is charged with al
prising congress Of the best meihos
yet employed In This matter. but N
department 81 agriculture has al
= undertaken serious and systemat
study Of the whole problem ~ rur
credits The congress and the ~
ecutive working together will cei
tainly AFFORD the needed machlnel
I" of relief and prosperity 20 ihe peon
Of the countrysides and that vel
" euou