Evening star., 1920-02-22
Mr.. MEREDITH
URGES BANKERS
TO AID FARMERS
Secretary Thinks Man Who
TiIIs Soil Deserves Conf
dence of Financiers.

That so long as the farmer must
contend in his business with the ele-
! ments of chance he must be support
ed by the confidence of his banker
| ready aud willing to come to his aid
in time of drought. flood. storm and
other misfortune, is the opinion ex-
pressed by T.. r. Meredith, the newly
elected Secretary of Agriculture in a
statement just issued to the Ameri-
can Bankers Association.
Being one of the first authorized
statements since assuming the duties
of his new office. the significance of
his emphasizing the relation of farm
er and banker as one of the keynot es
of his administration of office is fully
apparent.
Secretary Meredith opens his state
ment by stating that no class of bust
ness men have a more vital relation
to the prosperity and stability of the
farming industry than do the bankers.
Topics Discussed by Secretary.
The more important high lights of
Secretary Meredith's statement are as
follows
Help from the banker in such
times of stress is seldom particularly
VIA zardous for the banker. Drouehts
may come in two or more successive
years. and army worms may follow
cyclone. but the land will always be
there and continue to produce. There
is no greater certainty of permanency
or ultimate return in any industry
This is point that should be more
generally appreciated by. bankers
Bankers should also have constantly
in mind that whatever is done for
better farming inevitably must re-
act to the benefit of the banker and
all business. The banker as well as
the farmer will draw dividends from
good roads, better schools. more ample
marketing facilities. better rural Hv-
inG, and social conditions. more labor
saving machinery. better supplies of
farm labor. These things mean pros
porous and contented farmers. whose
production year after year is the basis
OF prosperity in the individual COM
munlty and in the nation at large.
The farmers are ready to do their
part in what must be a cooperative
effort to reduce the cost of getting
farm products from the producer TO
the consumer. No business men should
real!Ee better than the bankers that
any reduction that may occur in the
farmers S returns should be preceded,
or at least accompanied. by corre-
spending reductions in the prices OF
the things the farmer nAust buy
Bankers and the Farmers Problems,
Bankers and all other business
men as well should interest them
selves in the problems of the farmer
and aid him in securing facilities
needed in his business. They should
not countenance the assault now
being made on the farm loan bark
system, which enables the farmer to
secure money on favorable terms
without commissions or renewal
charges: finances MIN to carry on the
fundamental activity of our country
and makes provision for long time
payments that he may plan ahead
where necessary. The withdrawal Of
this aid to. farmers would, in my
Judgment. be Il blow to agriculture
in America and be harmful to the
country as whole. There is COM
mon interest of bankers and farmers
in this system Federal farm loans
encourage a land-owning. prosperous
farm citiZenry in this country. That
is the kind of farmers the banks.
whose chief business it is to provide
the personal credit and working cap
ital. desire for their customers.
The Department of Agriculture is
doing all in its power to improve ag-
riculture. to make it profitable and
to bring about u more satiStacto Dry
rural life in all its phases. In the
and earnestly desires the cordial and
sympathetic cooperation and sup
port of the bankers and other busi-
ness men of the nation. as well as
of the farmers. agricultural institu-
tions and farm organizations.
1T is very gratifying to know that
in this it has the active assistance
and cooperation of the American
Bankers Association"