Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-02-27
FINANCE 1I,c lIarmcr

NE agricultural frontier of America to-
i day is in Virginia. Between the Blue
Ridge Mountains and the Atlantic Ocean are
thousands OF acres OF idle farm lands. While
there are poorly nourished bodies in America
or hungry mouths in Europe it is Il crime
for these lands to remain idle and unpro-
ductive. Virginia is an agricultural State.
Its possibilities as such are practically un-
limited. Upon its agricultural development
depend the prosperity of its merchants, the
success of its industries, the growth of its
cities and the stability OF its banks. pros
porous agricultural community means pros
perity for all classes, and especially for the
merchant and the banker.
Aside from and more important than the
Decuniary rewards which will come from in
creased agricultural production Virginia
owes duty to the nation and to tho world.
The surplus food supply has been exhausted
and America is on short rations, while mil
lions abroad are starving. One crop failure
in America will plunge the world into 4
famine and civilization into unarchy--for
hunger has no conscience and knows no law
Ihc two institutions specifically designed
TO meet the requirements of the farmer have
ceased to function. The constitutionality OF
the Farm Loan Bank is being assuiled in the
Federal courts by hostile interests and the
very existence of the Joint Stock Land Bank
is threatened by it's enemies in Congress.
Under these circumstances the national and
state banks not only have an exceptional
opportunity TO serve their patrons. but owo
Il duty TO society which is both important
an imperative.
II there is to be an increase of food pro-
ductlon during the coming year tho financial
requirements Of the farmer must be met
promptly Ninety days delay will be too
late. Not only should the banks and trust
companies gladly extend accommodation 10
the farmer, but they should make it known
TO the public that they stand ready to help
all who are willing to engage in agricultural
pursuits, IN trucking, poultry raising. stock
growing aud general Turning. The most
serious obstacle i'll their way seems to be the
attitude OF the Reserve Board in combining
It's member banks to the discount of COM
mercial paper. This might be advisable if
the Farm Loan and the Joint Stock Land
Banks were able TO supply the farmers
needs, but they arc handicapped by red tape
and hostile litigation at n time when every
resource OF the government should be en-
p!oyed to increase food production.
Iherc may be other solutions to the twin
problems OF social unrest and high cost of
living, but there is none so practical effec-
tive or Immediately available as employment.
nome ownership and increased food produc-
'oh. The Secretary OF the Treasury can
render the nation and the world no greater
service at this particular time than immedia-
teIy 10 promulSate Il financial policy that will
enable the national banks as we'll as State
pahks which are members OF the reserve
system, TO supply every legitimate demand
OF the farmer and those wishing TO engage
IN agricultural or other productive enter
prises. The American business man is en-
tit!ec TO financial system that will supply
ms every legitimate demand for capital with
"hich 10 help rebuild world and feed IFS
starving millions. In this gigantic under
taking the Virginia banker and farmer
should join hands with those of other States
TO feed and finance disconsolate humanity
through It's period of convalescence and re-
form.