The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1916-07-17
Many Men Interested In Land.
Mortgage Bank System
Hear Speech.
CONGRESS MEMBERS THERE
Wilson Declares He Feels Real
Qualification Over Passage
Of Measure.

Accompanying the act with a speech
paying high tribute to the farmers OF
the country. President Wilson today
signed the rural credits bill II provides
establishments Of a system OF land mort
gage banks to handle long time mort
gage loans to farmers.
BY invitation Of the President many
interested In the initiation Of the rural
credits system were present at its sign
ing. These included House and Senate
members who had handled the bill.
Speaking before he signed the bill the
President said:
ION occasions OF this sort there are so
many things to say that one would de-
spair Of saying them briefly and AIDE.
ouately. but l cannot go through the
simple ceremony Of signing this bill with.
out expressing the feeling that I have
In signing It. II lie a feeling OF profound
tude that we have completed this plec Of
legislation which i hope will be i'm
mensely beneficial, to the farmers Of the
country.
A Singular Position.
The farmers. 1t seems to me, have
occupied hitherto a singular position
Of disadvantage. They have not had
the same freedom to get credit on
their real assets that others have had
who were in manufacturing and COM
sustained our life they did not in the
sane degree with some others share
in the benefits Of that life.
sspa 5his si sie9s With the
equality with all others who have
genuine assets and makes the great
credt OF the country available to
| them.
"One cannot but feel that this is de-
, layed Justice to them. and cannot but
feel that 1t Is very gratifying thins
| to play any part In doing this act Of
justice. i lcok forward to the benefits
| OF this bill. not with extravagant c::pec-
tations. but with confident expectation
that II will be of very wide reaching
benefit: and. incidentally, 1t will be OF
| advantage to the investing community
for l can imagine no more satisfactory
and solid investment than this system
will afford those who have money tc
USE"
Il therefore sign the bill with great
emotion"
Selecting Members.
/ The President started Immediately or
the task OF selecting members Of the
rural credits board provided in the act
A large list Of applicants for places In.
cludes bankers, mining experts, scien.
tific farmers. and lawyers in every part
OF the country. Among those prominent.
ly mentioned are c. b. Kegley. master
| of the State grange. of Washington; l.
b. Clore. La Porte. Ind: Herbert Quick
West Virginia; Rowland Norris. of Penn
| sylvania, lawyer. and protege OF
Vance Mccormick and Mitchell Palmer
II. ]. Moehlonpah. banker. Clinton, Wis.
! w. W. Flanagan. New Jersey: +. J. IL
Won Engleken. Florida; b. NJ. Ralston,
brother OF Governor Ralston. OF Indiana,
| and ]. Lee Coulter, West Virginia
| The President conferred with Secretary
McAdoo and Postmaster General lIurle'
son today. Tomorrow he will see mem.
bers OF Congress. who have been active
in pushing the rural credits measure.
The President Is expected to be guided
to a large extent in his selections by
Secretary OF the Treasury McAdoo. un.
der whose department the board will
orerate.
1t is understood the President Ia.
practically decided on two men-C. B
kegley. OF Washington, and John Lee
coulter. dean of the West Virginia Az.
The choice of a member who Is Q
practical farmer lies between s. J. H
Won Engelken, Of Florida, and Leonard
b. Clere, Of La Porter. Ind.
Clere's selection has been left In
doubt because Of the failure Of Indians
Congressman to present a united In
dorsement for him, but II Is understood
Indiana Democrats today agreed to droI
differences and support Clere.
The chairman OF the board IL to b.
an Eastern man, a Democrat, who Ia!
a bankers knowledge Of farm mort
cages.