Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-07-17
PRESIDENT SIGNS
RURAL CREDITS BILL
Expresses Faith to Provide
Financial Equality for
Farmer.

President Wilson today signed
the rural credits bill passed re-
Gently by Congress. A group of
senators, representatives and Of
fcers of farmers organizations
applauded warmly as Mr.. Wilson
affixed his signature.
Just before signing the measure,
which creates a system Of twelve land
loan banks under direction of federal
board. the President made a short ad-
dress, pointing out the benefit he be-
lieved both farmers and the investing
community would enjoy under its op-
Grafton.
President Expresses Satisfaction.
''On occasions of this sort" said the
President, there are so many things to
say that one would despair of saying
them briefly and adequately, but I can
signing this bill without expressing the
feeling that 1 have in signing it. 1t is
feeling of profound satisfaction not
only, but Of real gratitude that we have
competed tnlS piece ol
which l hope will be immensely bene
fetal to the farmers of the country.
THE farmers it seems to me. have
occupied hitherto a singular position of
disadvantage. They have not had the
same freedom to get credit on their real
estate that others have had who were
in manufacturing and commercial en-
terprises. and while they have sustained
our life, they did not in the same de-
gree with some others snare IN the pen-
efits of that life.
Financial Equality for Farmer.
"Therefore, this bill, along with the
very liberal provisions of the federal
reserve act, puts them upon an equality
with all others who have genuine assets
and makes the great credit of the coun-
try available to them. One cannot but
feel that this is delayed justice to them.
and cannot but feel that it is a very
gratifying thing to play any part in
doing this act of justice.
II look forward to the benefits of this
bill not with extravagant expectations,
but with confident expectation that 1t
will he of very wide-reaching benefits,
and. incidentally. it will be of advan
taee to the investing community. for l
can imagine no more satisfactory and
solid investments than tnis system Will
afford those who have money to use.
..I sign the bill, therefore, with real
emotion, and am very glad, indeed. to
he honored by your presence and sup
norted by your feelings. l have no
douht in what have said regarding it."
Signed With Two Pens.
The President used two pens in sign
tho the bill, and gave one of them to
senator Fletcher of Florida, who
asked permission to present it to the
eo,+ber., Commercial Congress.
In addition TO a number of members
~ the House and Senate the signing
Sr.s witnessed by David Lubin. one of
tha orieinators of the bill, and repre-
san+atives of the National Grange the
Farmers Educational and Co-opera-
tive Union, the Farmers Society of
Enuity. the Ancient Order of Cleaners
the Farmers National Congress and
the National Council of Farmers CO.
operative Associations.
Secretary McAdoo conferred with the
President later on the selection of men,
hers of the new farm loan board. who
will be appointed in the near future.
Among those understood to be under
hoard are w. w. Flannagen. secretary
of the Joint congressional committee
ON rural credits; Herbert Quick, F. ].
II. Won Engleken of Florida, c. B. Keg-
lev of Washington state. B. M. Ralston
and L. b. Clore of Indiana ]. L. Coul-
ter of West Virginia and H. A. Moeh-
lentah of Wisconsin. Secretary Nc
Adoo is an ex- -officio member and four
will be appointed by the President