Watauga Democrat. [volume] (Boone, Watauga County, N.C.) 1888-current, 1916-05-18
Dsufhtea Argues ier Rural Credits.
H. E. @. Bryant in News & Observer

Doughtsn Argues ter Rural Credits.
H. z. O. Bryant in News & Observer.
Representative Doughton made
a capital Democratic speech on
the rural credits bill in the House
today. He blamed the Republi-
cans for lack OF legislation for
the people Of agricultural enter
prises.
To-day will witness in this
House the fulhllment of another
very important pledge made to
the American farmer in the last
National Democratic platform"
he said, Gin that platform, legis-
lation, giving to the agricultur.
al classes of America a system OF
rural credits, was pledged,
"The Democratic party is the
first party ever to make manifest
in substantial form and to recog-
nize the need OF this legislation,
which the farmer has so often re-
quested and for which he has
waited so long and patiently"
Mr.. Doughton then told how
the Republicans opposed the
Federal Reserve Act.
"It was filibustered againstfor
months and when a vote was fin
ally taken only thirty-five Re
publicans could be found in this
body and only three at the other
end of the Capitol, who would
give it their support" said he,
"yet, it is now admitted by all
sane, fair.minded men every
where, in Europe as we'll as in
America, that the Federal Re-
serve Act is the greatest master.
piece OF financial legislation ever
enacted by any legislative body.
1t has been characterized as a
miracle in legislation. Under it's
wholesome operation, money pa
MICS are impossible and the con-
troll OF credit is removed from
Wall Street, where it had been
left by the Republican party for
fifty years, and is now placed in
the hands of the governmentand
the people.
"When the legislation which
we are today considering is plac'
ed upon the, statute books and
the farmers are given the same
opportunity for obtaining credit
that the commercial interests OF
the country have, agriculture will
celebrate it's emancipation and
henceforth be free from the thral-
dom that has kept it enslaved
80 long. Since the time when the
memory OF man runneth not to
the contrary, the Republican
party has told the farmer that if
the Democratic party should
come into power and apply its
policies, the farmer would be ruin
ed. Yes, the farmer was told that
if the high protective tariff was
lowered the price Of his crops
produce, live stock, etc.-would
drop to nothing; that his land
values would depreciate; that he
would be reduced to the state of
the common beggar and walk the
earth in poverty's embrace and
many honest farmers believed
this fabrication. They believed
that in some way the tariff and
the value OF farm products were
inseparably, linked together and
that lower customs duties meant
a corresponding lowering offarm
products and stagnation and
death to the farming industry
But that deception can no longer
control. The farmer has been
shown by actual results that he
has too long been the victim oI
Misrepresentation. He is today
receiving larger prices for his
products than ever before in the
history of the country and en-
joying the greatest season o.
prosperity. But what is nov
coming his way is only a very