Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1915-04-30
PROSPERITY NOW
ABROAD in LAND
Federal Reserve System And
Other Measures of Demo-
cratic Origin Producing
Good Results.

"uShoeee, Ohia', Aprl Ef.-lne
country is smiling with prosperity
as a result of the federal reserve
bank act, and as the system grows
older the smile will grow into
laugh, according to Chas. S. Ham,
lin, governor of the federal reserve
bank board, who spoke before the
Southern Commercial Congress here
today
Mr.. Hamlin pointed out that "while
formerly we had the worst financial
system in the civilized world we now
have the soundest."
He answered advocates of a sin.
gle centralized bank by asserting that
because of the large territory involved
twelve decentralized banks are pre-
ferable to one centralized bank and
that the federal reserved board holds
all the authority of centralized
bank.
Credit For Farmers.
"a financial panic such as that of
1907 is now impossible" Mr.. Hamlin
continued. an time of financial strin
gencya farmer deserving of credit can
get it. We have real elastic, a real
local, liquid currency. The federal re.
serve board is empowered at such
times to put out enormous sums suf-
ficient to dispute any idea of panic"
DIR. Chas. Brand, chief of the di-
vision of markets and rural organiza-
tion of the United States department
of agriculture, declared that the South
ern farmer and ranchman has realized
theneed of being more provident. The
time is passing he said, when pro-
ducts of the farm anrd ranch are shin
ped to market and then bought back
as food stuffs.
Broader Country Life.
Cooperative societies Throughout the
South are being organized to utilize
home products. GAS the result the
farm promises to hold the young peo-
pie by offering broader life," he said
Bridge the gap between the ordi
nary boy and girl and the agriculture
college or industrial institute and you
have accomplished much toward the
solution of the farm problem" was
the advice offered by H. E. Blakeslee
commissioner of agriculture for Miss
lssippi, another speaker.
Magic City in Field.
Although the place of the 1916
meeting of the Southern Commercial
Congress will not be determined until
meeting of the board of directors
several months after the close of the |
present congress, spirited contests al
ready have arisen. Overturnes have
beenrecieved from Little Rock, Ark.
Cincinnati, Charleston, S. c., Chatta-
nooga, Tenn, Roanoke, Va, Raleigh
n. c., Baltimore, St. Louis and Rich |
mond.
The attendance was largely increas-
ed by the arrival of scores of dele
gates who were unable to attend the
opening meeting.
Cash markets for locally grown
produce should be established. The
country is the important thing and in
lending hand to help the country to
prosperity, city is helping ITSELF to
property" declared M. Bradford
Knapp head fthe farmers co-opera-
tive division of the United States de-
partment of agriculture
A Peeved Planter.
To Col. Bobert M. Nixon, a planter
of South Carolina the American farm
ar generally is like an "ostrich that
sticks his head in the sand and won't
see'
He asserted that the farmer of to-
day refuses to see business judgment
and supply that for which there is de-
mand Col. Nixon urged the protection
through governmental or State agenc-
cies of agriculture in the Southern
cotton States by warehouse system
modelled after that of South Carlina
under which the farmer may store his
crop and obtain certificate of storage
on which he can negotiate loan.