The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-10-21
ASK BANKS .
10 RENDER
.AIOTOFARM|
Chairman Hirsch Urges
Warehousing and Sell
ing Organizations.

Washington, Oct. 2f.-Bankers
can and should aid farmers by as
sisting in the establishment of CO
operative warehousing and selling
Chairman Joseph
Hirsch. of the agricultural COM
mission Of the American Bankers
association, declared TO-DAY, In pre-
senting the report fthe commits
sion to the convention.
MANY of US have been fearful
Of entering the field of marketing
because In doing this we have been
afraid we would come In conflict
with our own customers, the mid
dlemen who are buying the farmers
product" the report said. But 1t
Is high time for the bankers Of the
country to realize that more
economical method of distributing
our food products is absolutely es-
sential to the success of American
agriculture; that unless farmers
can produce and sell their crops
with some reasonable assurance Of
a fair profit there will be an in
creasipg tide of men drifting from
the farms ito the cities.
we beliete in cooperation for
ourselves. The federal reserve sys-
tenn is cooperative enterprise. In
like manner cooperation among
farmers in apportioning what they
produce to meet the demands Of
ue cyGilyy is. economically sound
lie iSfMer needs your help In this
work, because you can supply him
with that essential which he chiefly
lacks-a knowledge Of business or
ganixation and business method"
The report urged bankers to sup
port appropriations for larger pay
to experts employed by the depart.
ment Of agriculture, and suggested
that state conferences of bankers
and farmers be held, to enlist CO.
operation in agricultural develop
ments.
Discuss McFadden Bill.
The McFadden bill proposing Q
tax on gold used in industry and
the arts to be paid in turn to thu
mining. companies to stimuaate pro.
duction was attackedFand defended
today before the American Bankers
association.
A special committee appointed BY
the association to study the meas
ure submitted q report vigorously
opposihg the bill as an attack OF
q basic element Of the gold stand
ard" while Representative McFad
den, author Of the bill, defended
the proposed law, declaring tina
the addition Of new gold to the ma
tion's reserve would assist defla
tion and stimulate = healthy return
to normal.
A motion that Mr.. McFadden'
remarks be received with thank
and filed with the reports of tn
convention, we defeated.
The special committee, in its re
port, scontended that gold miner
were only one. of the many indus
trial sufferers from the war an
might we'll look forward to q returl
OF an Industrial situation whicl
would more than compensate 70
their present stringency.
! Average Cost IAereased.
Mr.. McFadden declared that tn
average cost Of raw materials i
all industries during the war per
tod had increased 112 per cen
while the users Of gold in the in
dustrfes continued to obtain thei
raw material ct the pre-war pric
fixed by the government.
This, the speaker added, mad
gold unique in that it was the .pnl
material which was prevented b
the government from being infir
eaced by the natural law of suppl
and demand.
Mr.. McFldden denied the CON
mittee1 contention that the prt
posed bill was q blow at the gol
standard, maintaining that its el
actment would be accepted abroa
- evidence of the determinatio
Of the United States to strengthe
its gold reserve.