The Lancaster news. [volume] (Lancaster, S.C.) 1905-current, 1913-08-15
RURAL ALCREDITSCOMEL
President, in Statement, Prom
ises Farmers Financial Aid.
HOUSE INsURGENT VICTORY.
Matter Cannot be Well Handled i'm
Present Bill But Will be Taken
Up i'm Next Congress.

declared themselves much encour-
aged today after the caucus had
spent more than five hours discus
sing the administration currency bill.
Representatives Henry, chairman of
the rules committee, and Ragsdale
or South Carolina, who drew the
original insurgent amendments, and
representative Eagle of Texas argu-
ed for the insurgent contentious dur
Ing the session and Representatives
Bulkley and Korbly defended the
bill.
With the administration measure
under fire in the caucus by those
Democrats who seek to write in it
provision which would give the farm
er currency on his crops, President
/ Wilson today issued a statement
committing himself to rural credit
legislation at the next session of
Congress. He set forth that the mat
ter could not be adequately handled
in the present bill and that separate
and distinct machinery for the hand
ling of rural credits should be estab-
lished. This question, raised by the
House Insurgents, has brought flood
of comment from the agricultural
communities of their Representative
in Congress and many believed the
ltSlutnJ statement would nave
some effect on the consideration of
the bill in the caucus. But after the
days discussion the insurgents were
confident they would secure material
amendments looking to the providing
OF money to farmers. One amend
ment suggested, which secured fav-
orable consideration from both sides
would make it clear that banks in the
Federal system could discount paper
based on warehouse receipts for sta
pie commodities and would make this
paper rediscountable at the regional
reserve banks. Many conservative
members of the House evinced a dis
position to support this amendment,
which would carry out the ideas ex-
pressed in the insurgent proposals
The general discussion of the meas
ure in the caucus will continue to-
morrow and 1t is probable the bill
will be before the caucus at least for
the remainder of the week.
Representative A. Mitchell Palmer,
chairman of the caucus conferred
with the President and was acouain-
ted with the contents OF the state
ment through which it was hoped to
persuade the so-called insurgent De
mocrats to abandon their fight for
agricultural currency The Presi-
dentsaid:
PRESIDENT WILSON'S STATE
MENT.
"Again and again during the dis
cussion Of the currency bill, it has
been urged that special provision
should be made in it for the facilita-
tion of such credits as the farmers of
the country most stand in need of
agricultural credits as distinguish
ed from ordinary commercial and in
dustrial credits. Such proposals
were not adopted because such cred
its could be only imperfectly pro-
vided for in such a measure. The
scope and character of the bill. its
immediate and chief purpose, could
not be made to reach as far as the
special interests OF the farms re-
Quire.
Special machinery and a distinct
system of banking must be provided
for If rural credits are to be success
fully and adequately supplied. A
government commission is now in
Europe studying the interesting and
highly successful methods which
have been employed in several coun-
tries OF the Old World and its report
will be made to Congress at a regu-
lar session next winter. 1t is con-
fidently to be expected that the Con-
gress Will at that session act upon
the recommendation of that report
and establish a complete and ade-
quate system of rural credits. There
is no question so important to the
welfare of the industrial develop
ment of the United States; there is
no reform in which would feel IL
a greater honor or privilege to take
part, because 1 should feel that 1t
was a service to the whole country
OF the first magnitude and signif-
canoe. 1t should have accompanied
and gone hand in hand with the re-
form of our banking and currency
system If we had been ready to act
wisely and with full knowledge of
what we were about.
FARMERS NEEDS.
There has been too little federal
legislation framed to serve the farm
er direc' y and with a deliberate adj
justment to his real needs. We long
ago fell into the habit of assuming
that the farmers OF America enioy-
ed such an immense natural advant-
age over the farmers of the rest of
the world, we're so intelligent and
and so at east upon the
Incompatible soils of our great con-
tinent, that they could feed the
world and prosper no matter what
they carried, no matter
what disadvantage, whether of the
law or of natural circumstances,
they labored under. We have not
their capacity or their
opportunity but we have neglected
N n lNrUn h.o hatv. H..
vantages from which they were suf-
fnrinR and hnun Too nfAn.. ILL a.