The Birmingham age-herald., 1915-04-28

try Hing with prosperity as re- I'sul-,s<r.sle federal reserve bank act and as Y ~ystem grows older the smile will SSito laugh, according to Charles Y Q mlin, governor of the federal re-
 . bank board. who spoke before the V .hern Commercial congress here to- Mir. Hamlin pointed out that while for merly we had the worst financial sys- tenn in the civilized world. we now have the soundest
 He answered advocates of a single cen- tralized bank by asserting that because of the large territory involved, 12 decen- tralized banks are preferable to one cen tralized bank and that the federal re- serve board holds all the authority of a centralized bank. He said a centralized bank would not last three years be- cause the people would not have the same local representation they have in the present system.
 "A financial panic. such as that of 1907, is now impossible MT. IIamlin con- tinued. "In time of financial stringency a farmer deserving of credit can get 1t. We have real elastic. real local liquid currency. The federal reserve board Is empowered at such times to put out enor- nous sums sufficient 10 dispute any idea of panic
 Dr. Brand Speaks Dr. Charles Brand, chief of the division of markets and rural organization of the United States department of agrsculture,s declared that the southern farmer and ranchman has realized the need of be- ing more provident. The time is pass ing, he said, when products of the farm and ranch are shipped to market and then bought back as foodstuffs.
 "Co-operative societies throughout the south are being organized to utilize home products As the result. the farm prom ises to hold the young people by offer ing broader life,r he said
 Bridge the gap between the ordinary country boy and girl and the agricul- tural college or industrial institute and you have accomplished much toward the solution of the farm problem" was the advice offered by H. F. Blal1eslee. com missioner of agriculture for Mississippi, another speaker
 By series of successive steps we in Mississippi he said, "are bringing the future farmer and the future farm ers' wife up through an agricultural in- dustrial education, starting Tn the grade schools by corn clubs and finishing in the universities
 Mississippi Feeds Herself
 Mr. Blakesee told of the resultant achievements in agriculture, saying that the state is saving millions of dollars annually which formerly was paid for agricultural products produced outside the state.
 Although the place for the 1916 meet ing of the Southern Commercial con- gross will not be determined until meeting of the board of directors, sev- eral months after the close of the pres ent convention, spirited contests already have arisen. Overtures have been re ceived from Little Rock, Ark, Cincin- ati, Charleston, s. C., Chattanooga. Roanoke, Va Raleigh, N. C., Baltimore. St Louis and Richmond
 Self-supporting agriculture is the largest problem offering itself to the south for solution, according to Dr. Bradford Knapp. head of the farmers co operation demonstration division ot
 
 culture, who spoke today.
 ITO solve it, cash markets for locally grown produce should be established" he said. Loans should be made upon ondition the farmer will make his farm as nearly self-supporting as pos sible"
 Dr. Knapp pointed out that it is the duty of cities to make constructive con tribution to the country surrounding them
 "The country is the important thing, he continued. 'and in lending hand 10 help the country to prosperity, city is helping itself to prosperity"
 Condemns One Crop System
 The speaker pleaded against the one crop system. and pointed out that mill lions of dollars worth of fruits vege tables. livestock, hay and grain, inn be raised as cheaply there as else where.
 To Col. Robert M. Mixson, a planter of South Carolina, the American farmer generally is like an ostrich that sticks his head in the sand and won't see"
 He asserted that the farmer of today refuses to use business judgment and supply that for which there is demand in such quantities as are needed.
 Colonel Mixson urged the protection through governmental, or state agen cies. of agriculture in the southern cotton states by warehouse systems modelled after that of South Carolina, under which farmer may store his crop and obtain certificate of storage on which he cah negotiate loan.
 J. Warren Smith of Colubus, O., of the United States weather bureau, read d paper written by Dr. F. c. Marvin. chief
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