Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1916-09-22
.HOKE SMITH TELLS OF
LAWS TO AID FARMERS
He Predicts Continued Prog
reSS and Prosperity for
Georgia
Especial Dispatch to The JournalD

4 dl the invitation OF the ClllHtHS " d
/ big crowd which packed the school au-
ditorium. Many came from the sur
rounding country and the town was filled
with visiting automobiles.
Senator Smith recounted the accom-
| plishments of the Wilson administration
in a most interesting way. He referred
| first to his deep interest in the develop
| ment of the state and the progress of
the people. Among other things he said:
Next to my own family, L long for
| the prosperity of our people and for
their mental and spiritual growth. Leg
islation can widen your opportunities
Ii can give you a better chance to pre-
pare for the struggle of life, but final
| ly il depends upon the men and wom-
en- of our state themselves, what they
are, and what they accomplish"
Speaking of legislation passed dur
ing the present administration in the
interest of the farmers, he declared
that the farmer needed credit of three
different kinds: First, to buy land and
improve it; second, to make his crops;
third, to market his crops.
He called attention to the new rural
credit act, expressing the opinion that
when this law gets into full operation,
improved perhaps as it would be neces-
sary by some amendments, rates of in
terest for loans on farm lands would
not exceed per cent, and eventually
should be reduced to per cent, and
that, too, free from commissions or 9TH
Ell charges.
He called attention to the provision
in the banking and currency act which
was formed in recognition of the fact
that farmers in making their crops
need the opportunity to borrow money
for longer time than merchants Dor
rowed. and that while the notes of mer-
chants could not be discounted in the
reserve banks unless they became due
within ninety days, the notes OF farm
ers could be used in the reserve banks
although they did not fall due for six
months. This was intended to help take
care of the farmer, and make 1t easier
for him to use his credit when he need
ed to borrow money to help make MS
crop.
PROBLEM OF MARKETING.
"A big problem with the farmer is
marketing his crop. This is especially
true in the south, where our great cot
ton crop is gathered and ready for sale
within a period of about sixty days.
Cotton is used by manufacturing enter
prises which make it into cloth. These
companies have not the capital to buy
the entire cotton crop as it is ready
for market If it is all marketed with
in sixty days it must be sold to specu-
lators, or not be sold at all.
"As q result of the reserve banking
system, last fall we had all the money
required in the. south to carry great
quantities of cotton as it came upon
the market and prevent it from being
sold too rapidly. For the hrst time,
ample money could be had at 6 per cent
to carry cotton and to prevent the
market from being depressed.
added
system. which will grow and develop
and make it easier for the farmer depos-
iting in the government standardized
warehouse TO take his warehouse re-
ceipt and borrow money on 1T anywhere
in the United States, or even sell ms
warehouse receipt without being called
on to move his cotton from the ware
house.
"No great measures like these can ac-
complish their full objects at once, but
through the rural credit system and
through the reserve banks the farmers
will, year by year, find it easier to bor-
row money to buy and improve their
lands to borrow what they need to make
their crops, and to market their crops
when they are gathered.
AGRICULTURAL EXTENSION.
I'VE have passed legislation which
will help those on the farm prepare
themselves
and to market their crops The agricul-
tural extension law has been passed by
which all the knowledge acquired in the
colleges of agriculture; in the expert
ment stations, and in the research work
of the agricultural department in Wash q.
ington city is to be carried to the
farmer and furnished at their homes 70
those farmers who have not had the
opportunity of studying in agricultural
colleges"
Senator Smith then explained fully
the Smith-Lever agricultural extension
act He called attention to the fact that
the demonstration work being done in
Georgia was done under this act, the
Boys. Corn clubs, and the Girls Can
ming clubs, were being conducted under
it, and also that instruction in domestic
science was a part of the work of this
act.
In this connection ne called attention
| TO the development of the parcels post
pointed out that through it the farmer
would find it easier to carry his small
products TO market, and save much that
now goes to waste upon the farm.
He then took up the good roads bill,
ard pointed out that SIS, 600, 900 had Been
appropriated to be expended in connec-
ton with the states, in improving the
ROADS or the country, Inat good ROADS
would be one of the greatest blessings
that could be brought to those engaged
| in agricultural pursuits. They would
make il easy for the farmer to move his
crops, they would remove the isolation
of rural life, and give farmers easier ac-
| cess to their schools, to their churches
and to the social life of the country.
REGULATION OF EXCHANGES
Finally. Senator Smith discussed the
| Smith-Lever act regulating cotton ex-
changes. He called attention to the fact
! that the prices of cotton sold day by
( dFy on the New York cotton exchange
are published I'm every leading paper all
around the globe, in English, German,
French, Chinese and Japanese.
| These prices" he said. largely fix
the selling price Of cotton during the
fall.
| I'VE have passed a law taxing every
| sale upon a cotton exchange SO bale
unless the cotton exchange used the con-
| tract prescribed in the law. The con-
tract they are required to use to escape
| this tax only allows delivery of iour
grades below middling when middiing
is sold. These grades are almost as
good as middling. They are grades
standardized by the agricultural depart
ment and the contract further requires
that if a grace below middling is de-
livered by a seller on a cotton exchange
he must pay the market difference be-