Wheeling majority. [volume] (Wheeling, W. Va.) 1907-192?, 1916-02-10
Bank PLANS To
Fake Farmers Some More
From Committee on industrial Reia-
tions.)


ttons.)
Washington, D. c., Feb "a fake
rural credits bill, known as the Moss
rural Credits bill, will be put through
he House of Representatives Of Con
yress very soon-perhaps this week
lnless the farmers and trades union
members and other working people
protest to their representatives
against It.
It is time to wake up to this danger.
Real rural credits legislation is a
vital need of this period. Land mono
by is developing beyond all bounds.
There are hundreds of thousands of
tenant farmers and farmers who are
.nortgaged to death or cannot ge'
;redit.
There are great numbers of people
If the. cities who need to have access
osthe land. But they cannot ge
and and they cannot get credit.
The private banking monopoly
,tnds between these Industrious work
ers and their chance to make Twin
in the production Of the food that l.:
necessary to us all.
The Moss Bill for so-called Rural
Credits is a bankers bill. 1t is to
benefit investors, like Insurance.. trus!
companies, ETC., who want the gov
.rnment to guarantee their invest
nents and exempt them from taxa
ZION, as this proposed fake bill does
The National City Bank Of New
York, the immense Rockefeller f1nan
cial institution, indorses this bill aat
urges its passage. In its February
bulletin the National City Bank de-
tends the private, bankers control Of
ali .loans and credits. But it is candid
enough. to let the cat out of the bag
in the closing paragraphs of its re-
view on the bill. 1t says:
"The plan is, for the most part, an
ingenious adaptation of the Federal
Reserve system = Probably the
most frequent comment made upon it
will I've that a man who is able to own
farm subject to no greater encun-
berance than this plan allows will be
able to get along without the system.
Certainly this is true in many parts
of the country, but there is testimony
that in many other localities 1t will
reduce rates. Certainly, this general
plan will facilitate the movement OF
capital into and out of mortgage IT.
vestmentS.
"As to the tenant farmer, now Il
nanced by the landlord and local mer
chant, whose needs have been the
text for most of the appeals for sys
TEN of rural credits, he is outside the
provisions of this measure"
This Is a conservative enough al
mission of the deformities of the bill
But it lets the cat out of the bag just
the same.
The very prosperous farmer who
owns a productive farm. with very
little or no mortgage against it may
get a somewhat smaller mite of inter
est by the terms of this bill. Land
may go up in value through a lanC
monopoly that the bankers monopoly
is trying to increase by this Joker
legislation, thus making it all the
more difficult for the poor man tt
make alliving from the land.
But the average farmer who need:
chattel loan, who wants loans on it!
crops, ETC., the tenant farmer and city
worker, who wants a chance to pu
unproductive and unused land int
production and use, these tillers ant
toilers who get no benefit whatever
from this law if it becomes law. Oh
! the contrary, they VIII be denied fc
another generation the relief they ar
entitled to. They viii be denied rea
rural credits legislation which woult
give them real borrowers rights, ant
set their industry and enterprise free
This Moss bill. pepared by Sen
ate Commission Of six lawyers ant
one newspaper man, and not one farm
er or working man-this fake rura
credits, bin creates another gigantl
and expensive banking monopoly.
lis, as the National City Banks bulle
Etin admits. ian ingenious adaptation
Of the Federal Reserve System"
establishes II great banks Throughout
the country with an army Of en-
Eployes. 1t puts so many different az
lpraisals and appraisers between til
borrower and his loan that he is like
lly to die of old age, If he is not sol
out before It gets the money.
Il IF the farmers and other worker!
1.-THE plain people. compel their repr,