Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1915-12-14

or DrOaQ PUBIC interest, Is chairman
Of the national commission on rural
credits. AS such he, with the manag-
ing director Of the Southern Com
travelled on a tour of study, drawing
on the systems Of Italy, Austria,
Germany, Switzerland and France,
for suggestions that would be valu-
able to us. The results Of these in
vestigations have been laid before the
president of the United States; and
President Woodrow Wilson, in his re-
cent address to the Federal congress,
gave token Of his approval by urging
legislation Of this kind at the present
session. It Is but just to give credit
to the Southern Commercial congress
for initiating the movement. The
commission Of which Senator Fletcher
was chairman and DIR. Clarence j.
Owens was secretary, investigated the
question of agricultural finance, pro-
duction, distribution and organization
in sixteen foreign countries. The re-
port Of this commission Is the basis
Of proposed legislation, state and Fed
eral, that Is to provide for long-term
mortgage loans and also short-time
personal credits for the American far
mer. We must perfect q system to
the Federal reserve act now meets
the needs of commercial transactions.
If such a system Can be made practi-
cal and workable, 1t will mean the
regeneration Of the rural life Of the
south, and Of America 1t will provide
plan by which the farmers can be
the owner Of his home and farm. 1t
will furnish him the great object, the
purpose and ambition TO improve the
conditions Of life for himself and his
family, and will inspire him with the
motive for improvement, for educa-
ton, for the comfort and luxury Of
home. We must have rural credits
providing for long-term mortgage
loans and short-time credits. This Is
an insistent demand, and this demand
must be met If we are to realize the
fruition Of the aims Of those Of us
who know the imperative need for
making rural life profitable and so at
tractive that young men and women
will not be weaned away from country
life, but will be attracted to 1t. It will
mean q new declaration Of independ-
ence in agricultural business and life.
In 1913, the Commercial congress
was addressed by the president OF the
United States, and the opening Of the
Panama Canal was the greatest event
to be emphasized at that time. The
United States, and South Carolina, and
Charleston particularly, were arrang-
ing for q great official movement in
commerce, on account Of the opening
Of the canal. Our eyes were turned
in hungry desire for trade relations
with Latin-America and the Orient.
With the waterway completed, and
with basis Of exchange, 1t seemed
but a matter Of short time before
the United States would assert en-
phatically its commercial supremacy.
The war in Europe has emphasized
the lack Of transportation facilities
on the ocean. To remedy this, Presi-
dent Wilson recommends to congress
the enactment Of such legislation as
will give government-contro mer-
chant marine. The outlook seems to
favor the passage Of shipping bill,
under which our country will be in
position TO seize commercial opportu-
mites In this the south will be vitality
interested. We have witnessed alb
normal conditions in trade for the
past eighteen months. This country
has supplied belligerent countries, as
we'll as neutrals. The Federal reserve
act has supplied all possible needs in
finance. The balance Of trade has been
tremendously strengthened and de-
veloped. We must remember, how
ever, that we are preparing to meet,
not only conditions as they exist during
the war, but we must prepare for
conditions that will confront US after
this war Is ended. It may be that those
great countries engaged in war will
not be able, for a long time, to re-
habilitate their lost prestige and COM
mercial power. They may not be in
position to buy from us as they have
done in the past. 1t may be necessary
for US to look after new markets and
to develop trade relations with Latin
America and the Orient but in any
event the United States must be
ready, on the one hand, to meet COM
petition with her former rivals in Eu-
rope; or If the demands from Europe
are not open to us, we must be ready
to extend our markets In other direc-
tions OF one thing we may feel con-
fident, that If we take advantage Of
the opportunities that are now open
to us, we may feel sure Of the ultimate
commercial supremacy Of the United
States, and in this prosperity must
share the southern states Of America