The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1916-02-21

Sldlt IluIdI NTGull conference OF rem
sylyania, Maryland and West Virgini;
farmers held in this city two week.
ago to devise ways and means OF Sc
curing from congress an effectiv,
hearing on personal rural credit bills
issued today the following statemen
as to the history, operation and pur
pose of personal rural credit. Hi.
statement follows:
German Farmers Prospered
The German farmer eXcels us by
/ 100 per cent in the production OF
wheat, so per cent in potatoes and 60
per cent in barley and oats. That
condition was reversed 70 years ago
before Germany had her personal rur-
al credit system. When our western
prairies were opened to the plow and
that action was supplied with ample
railroad facilities, We laid down our
agricultural products in Europe at such
industry there. We drove their farm
ers from the fields to the cities. The
old adage that necessity is the mother
of invention, was again verified, for
ii brought forth a philosopher in the
person of f. w. Raiffaisen, the found
er of the first personal rural credit
society He laid down several funda-
mental principles which experience
has shown to be sound One was that
credit should be sold only for pro-
ductive purposes, such as for the pur-
chase of livestock, farm machinery
fertilizers and seeds. Now the German
rural credit societies do several bill
lion dollars business annually, and
farmers obtain funds for such purpose
at the low rate OF 8 to AZ per
cent.
Adaptation to American Conditions
ITO adapt the European system here
it is proposed that seven or more
farmers in a community may form a
partnership for the purpose OF elect .
ing officers to pass on and accept the /
bills OF exchange drawn on the co,
partnership by the partners. These .
partners would possess the power to
sXpel an unworthy partner and to Sc
ect new ones, TO enact rules and regu-
ations for the guidance OF the oftic. /
RS. No salaries would be paid Off
ers or directors. The secretary would
ttend to all correspondence and see
o the recording of chattel mortgages
nd transmitting them to the state
ranches, this requiring from > to .
ours of time per month. There would
e no office rent to pay, as the offic-
rs would meet bi-monthly in a church,
choolhouse or the home of a mem
er. All the other machinery of the
Ian is for the placing OF those bills
Il the open markets in our industrial
enters and selling them to the iusur-
nee companies, savings banks and
,her investing corporations"
Congress Refuses Hearing
a bill has been drawn to carry
It the above stated plan. which has
zen printed at government expense, q
1t congress refuses a proper hearing I
] it, though requested to do so by a
e leading farm journals and several i
ousand farmers. As it IS proposed j
sell those bills in the open mar c
1t to investors and, as congress can f
Vt say TO the people OF the states nor 5
e corporations created by the states {
to how they shall invest their funds. a
is quite obvious that We must in. n
ire public confidence in the bills Of L
change drawn by the members Of
is rural credi, system. The most ef. ?
ctiye way Of inspiring confidence v
mons the investing classes in the Il
undness Of these bills is for congress Il
create q commission which will o
rmit the investing classes TO appear n
d combat the experts Of the farm n
$. Congress ignored the petition OF Il
2 leading farm journals and several
ousand farmers asking for such a Il
airing. -Four resolutions were in "
'duced in 63rd congress to create a r
to hold such hearing,
d although numerous speeches were
,de on those resolutions. which are :,
own as tie Sheppa-d-Candler-Doo- :
.le-Heigesen resolutions. yet the SD y.
lgress refused 10 create such com
ssio1 but appropriated funds TO four =.
raj credit investigating bodies. not -
2 OF which reported a personal rural :.
sdit bill" ;,
Wy Our Agriculture Lansuishes a
our farms are deficient in nitrogen i
Z Luu-s the most expensive fer u