Williston graphic. (Williston, Williams County, N.D.) 1895-1919, 1914-10-15
THE BANKERS
HOLD THE KEY
IMPLEMENT ASSOCIATION HAS
WRITTEN LETTER TO AMERI-
CAN BANKER ON CONDITIONS
Chicago, Oct. 6, 1914.
To The American Banker:-


The National Implement and Vehicle
Association is composed of repre-
sentative manufacturers and jobbers
of agricultural implements and other
farm operating equipment.
This industry brings it's represen-
tatives into a peculiarly intimate re-
lation with agricultural conditions not
enjoyed by other industries. This re-
lation gives US a clear and accurate
knowledge of general business condi-
tions in the agricultural field.
For some months before the Euro
pean war general business conditions
in this country were in an unsatis-
factory conditionc. Tariff changes,
the new currency law, railroad rate
decisions, proposed national legisla-
tion affecting business, etc., all tended
to make American business men hesi-
tate. The unfortunate result was,
mines, mills and factories either who'll
" closed or run on part time, and an
ever increasing army of the unem-
ployed.
On top of this unfortunate condition
came the European war.
In this country one of the effects of
that war was partial financial suco4
cation. The situation seemed to re-
quire prompt and efficient action and
the bankers Of the country adminis-
tered it promptly.
What is needed now to restore con-
fidence and to put the unemployed
back on the pay roll?
We believe the American bankers
hold the key.
He is the business advisor of COM
merce and in the rural community en-
joys and Justly so position of special
responsibility, trust and power, which
we fully appreciate.
The responsibility imposed on the
American farmer by the war is tre-
mendous for this country will be call
ed on as never before to help feed
the nations of Europe. To set the
wheels of industry and commerce in
motion, credit, confidence and courage
are needed and as we believe the bank
er can lead the way to resumption
of industry We respectfully recon-
mend for his careful consideration the
following:
(1) Urge the farmer who has har-
vested his grain, not to speculate on
the fluctuation of future prices.
(2) Recommend to the farmer of
the South to diversity his crops. Ex-
perience has shown that a one crop
country cannot continue to bring
prosperity to it's farmers. The great
wheat states of the Dakotas are diver
styling. Our cotton states should do
likewise.
(3) Preach preparedness for the
1915 harvest. Care in seed selection,
proper tillage and cultivation will
bring increased crops to meet the in
creased demands. More intensive cul-
tivation quite as much as increased
acreage will bring prosperity to the
farmers.
az Increase the number of farms
raising stock and thereby secure a ma
tural fertilizer for the soil. Cattle.
hogs. and poultry mean ready money
and bank accounts.
(5)Secure for the agricultural COM
munity the benefits provided in the
Currency Law by creating a demand
for the early opening of the various
Federal Reserve Banks.
(6) Discourage all speculation, but
encourage the expansion Of legitimate
business in the rural communities by
reasonable extension of credit.
The Agricultural communities and
the bankers who serve them were
never in q more secure position or one
that promised more if the opportuni-
ties are embraced
We hear on all sides that the Euro
mean war has left the door wide open
for this country to enter and secure
the markets of the world. This can
not be done in day or in year.
Let US first bring this country's indus
tries back to their normal condition.
This must be done before an increased
foreign trade can be secured.
An opportunitv is here presented
for the American banker and we be-
lieve that he will rise to it.
National Implement & Vehicle Asso.
Unanimously endorsed by the Ex-
ecutive Board, Chicago, Sept. 20, 1914.