The Birmingham age-herald., 1915-08-05


 gramme the proposition to establish by Congress rural credit system in this country. When we consider the difficult ties and disadvantages under which the farmers have struggled in their efforts to buy farms and build homes. the wonder is that they have succeeded as well as they have. Instead of getting money on land at low rate of interest for long period of time, the farmer has been unable to borrow at all on real estate at national banks, and in the absence of farm credit system he has been without banking ac- commodations, and the indirect aid that he has received through the commercial banking system has not been at all satis- factory
 He has not been able to obtain loans at reasonable rate of interest and he has been unable to get sufficient time in which to complete his underta kings Through commissions and fees he has been compelled to pay interest rates rang ing from F to 60 per cent and sometimes more. The short-time loan and the tre- mendous interest rate of the commercial banking system have stood between the farmers of America and the farms and homes paid for and in their names Thousands of the best farms in this coun- try are those bargained for by industrious. ambitious men who longed to have homes and farms of their own, but they were overtaken by some misfortune, drought. or maybe sickness in the family and were unable to comply with the short time contract with its burdensome inter- est rates, and unable to get banking &C., commodations an extension of time. they were driven to the wall and forced to give up the land with all it's improve ments and move away.
 All agree that a rural credit system with low interest rates and long time loans is necessary, and the farmers of the south feel just as keenly, if not more so, the need of such a system. Last year the farmers of the south, with farm products, land, and other property worth billions of dollars, were unable to borrow money with which to keep their cotton away from market demorallzed by war. The farmer offered to this commercial bank ing system, mortgages on property many nes the value Of the amount desired. but he did not get the accommodation that he wished and was forced to sell his cotton
 1T sincerely trust that the banks of the south will come to his rescue this fall and assist In the good work of keeping the bulk of this crop off the market till prices are agreeable. In diversified farming and a rural credit system lie the twin forces of the south's future prosperity and hap piness. Crop rotation. intensive farming. and self sustaining farms owned and inn proved by our farmers will make the south to blossom the rose.
 Tn large measure, diversified farming has already come to bless and benefit our people and in my judgment before this time next year, rural credit system will have come as the climax and crowning glory of President Wilson's admlnistra- tion With her vast and variegated re- sources, with her industrious and enter prisins people the south is destined to be the richest and most prosperous section of our great country. If we can get Great Britain to remove the blockade against cotton shipped to neutral countries, and our farmers will keep their cotton off the market. or sell it sparingly, cotton will sell above 10 cents this fall.
 Now Is the time for the whole south to rally around the farmer and help him to keep his cotton off the market By concerted action in an intelligent holding movement this cotton crop can be made to bring 12 cents and more."