Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1915-03-23
THE ALEXANDRIA GAZETTE
PUBLISHED DAILY
EDUCATION
AND INDUSTRY.

=
w. P. G.. Harding, a member OF
the Federal Reserve Board and for
merly leading Southern banker,
has outlined his views as to rural
credits system to be presented to the
Southern Conference for Education
and Industry at Chattanooga, Tenn.
next month.
Members of the congressional COM
mission on rural credits are expect
cd TO participate in the discussion at
Chattanooga. The details OF MI.
Harding's idea of a solution, derive
added Importance from the fact that
some of the commissioners are quot
ed as believing that there Is no
great pressing demand for rura'
credit system. V
Mr.. Harding believes the question
is Of pressing Importance in puiidhs
up rural communities. but his idea Is
that the system should be magarat-
ed by the individual States
Mfr: iIIarding's idea is that each
state should charter and supervise
its own land mortgage bank. require
it's official tax collectors to make col
leciions; and induce local banks to
act as agents in their respective com,
munities. The only fee paid woui"
be- those paid to appraisers and to
attorneys for examining titles l."
property.
Mr.. Harding says:
81 think there would be no trouble
!, working out plan whereby the
f,rmer would have to pay not more
than percent annually which wou''
include amortization. A farmer VINO
borrowed $4,000, would then pay
$40 year for a little more tnah
twenty years and then would be d'S-
s,asr.id of debt. Any sales OF Inc
.rs,sos,y III the meanwhile would,
s. ..5iIr.s. be subject to the mortgage
.,Yg no sew owner would make the
anaua5 psyments.
81 I'm convinced that under super
oc PRACTICAL system can be
II, so = hich can be- operated eco
nc,,.a,..s}g and making possible al
v,rsss Oh improved farm property
~ aSo.s.ac rates. upon easy terms
of ,vYae% an amount less than
.b, cragc farmer now pays
IN interest. would ultimately satisfy
the debt.
The meeting is set for Chattanooga
April u. and at the present momens
every Governor. every United States
Senator and every moral ana Intel
1octua] force in these States Is not
cnlv interested but is personally and
.t;velv at work to make it Il sue
cess.
The President of the United States
has declared that nothing save en-
tr,or,)inary conditions of natlona'
,nJ international urgency VIII keel
him away from an assembly which hs
deems of appealing and paramount
Importance.
The Conference for Education II
+ho South has hitherto been backc'
.v an appropriation from the South
.r, Education Board. lnasmuch IL
this appropriation came from north
crn sources. some criticism was rals
oil in the South on account of the ap
prchcnsion of alien influences ~ IN
educational and Industrial creed o
III. Southern people. The new OF
yanixation combines the Confefchc
for Education in the South ana III
Southern Educational Association
and is 10 he wholly Il southern OF
.anization supported by souther
ucoplc for southern development.
The recent distressing condition
in the Southern agricultural felt
the fatal consequences of the one
crop movement just made nantes
the new impetus given to the sou
ton of the South's vital problem
the races and the menacing perce'
tage iot illiteracy in the Souther
states have combined to arouse tn;
great people to the necessity OF a
EXTRAORDINARY forward movement
which, the Chattanooga assembling
is expected to work the wise and e'
ergeth beginning.
1t is the sdssiggq. llq,! bring II the he