The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1914-10-15
Whaa Was The Rural Credit
Pledge?
Enactment OF Party Pledge by line
Democrats Would Have
Saved Cotton.

not realize how derect stands it's record!
The Baltimore Democratic platform binds the
party to enact rural credit legislation. This obi
cation of July, 1912, has been ignored two years!
And now has developed imperative need Of
capital by landowners, willing to mortgage the
best Of productive real estate, with available
money to be had land security at any price.
Had Southern land borrowing value, as exists
in practically every country of Europe, the farm
ers could have pledged their land for sufficient
money to enable them to withhold from sacrifice
the 1914 crop oft cotton, made redundant by the
unforeseen European war.
Congress convicted of non-fuliIlment of it's
platform pledges. The South is justified in ask
ing that remedial measures be at once enacted by
the present Congress.
Until rural credit legislation shall be haA
Congress could and should serve the South by
relieving the State banks of the 10 per cent tax
on emergency currency in order that the banks IN
touch with agricultural clientele (Which tha
national banks not) could issue it tenn
porary expansion of credit thereby the better to-
finance the surplus of this cotton crop. Thus,
not only could the State banks help to carry dis
tressed cotton until needed by the manufacturers,
but also be able to assist farmers this present
fall to buy CATTLE grain, seeds and the WhOf6
expensive equipment necessary to changing from
raising all cotton to true Investigation Of farm
crops.
Thus may avoid for the future such fnaH-
cial catastrophes the present.
This State bank emergency currency should be-
safeguarded by deposit of approved collateral
with a clearing house committee, in excess of any
issue allowed the bank. Thus each bank con-
interest to prevent over-issue Of credit papers
We have expected of Congress the fulfllmeEt
of it's platform obligations in the absence of which
ask temporary suspension of the 10 per cent
tax imposed the issue of currency by Stata
banks BENZ. w. HUNT
EatontOn, Ca, October /, 1914
Rural Credits.
Of equal importance with the question of cur-
rency reform is the question of rural credits OF
agricultural finance. Therefore, recommend
that investigation of agricultural credit socie-
ties in foreign countries be made that it may
be ascertained whether a system of rural credits
may be devised suitable to conditions in the UNI
ted States; and also favor legislation permit
ting national banks to loan a reasonable propoE-
ton OF their funds real estate security.
We recognize the value of vocational education
and urge Federal appropriations for such train
ing and extension teaching in agriculture in CO.
operation with the several States.
The same Democratic Platform which
promised the farmers a Rural Credit system,
declared that 1--WE oppose the so-called AID
rich bill !"
Yet the so-caled -Aldrich bill was enacted
into law by the Wilson Democrats, and W.
son himself conab0ttcd and killed Rurdt
Credits.
If you want to measure the deceitfulness
of the Wilson leaders, and the betrayal of the
common people to the Wall Street Money
Kings, read the Baltimore Platform of 1912,
on which Wilson was elected.