The Washington herald., 1920-02-22
SEC. MEREDITH
BANKERS
Assistance to Farmer
Foundation of Agricul-
tural Prosperity.
AID IN STRESS PERIODS
Bankers Association an
Important Progressive
Unit.
AID IN STRESS PERIODS
Banking
Investments

So long as the farmer must con-
tend in his business with the ele-
ments of chance. he must be sup
ported by the confidence that back
of him is his banker. ready and will
ing to come to his aid in time of
drought, flood, storm and other mis-
fortune. This is the opinion of z. T.
Meredith, the newly elected Secre-
tary of Agriculture, expressed to
the American Bankers Association.
Being one of his first authorized
statements since assuming the
duties of his new office, the signi-
ficance of his emphasizing the rela-
tion of farmer and banker as one
Of the keynotes of his administra-
tion of the office is fully apparent.
Meredith opens his statement.
which is addressed to the American
bankers, by stating that no class of
business men have a more vital rela-
tion to the prosperity and stability
of the farming industry than do the
bankers.
The more important high lights
of Meredith's statement are as fol-
lows:
"The foresight and sympathetic
Interest of the bankers have played
an important part in the advance
of agriculture in this country, and
they are in position to render even
more helpful cooperation in the
future. So long as the farmer must
contend in his business with the
elements of chance. he must be sup
ported by the confidence that back
of him in his banker, ready and
willing to come to his aid in time
/ of drought, flood, storm, insect Visi-
tation, or other misfortune.
Help from the banker in such
times OF stress is seldom par
ticularly hazardous for the banker.
Droughts may come in two or more
successive years, and army worms
may follow a 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 a
point that should be more gener-
ally appreciated by bankers. Rank
ers should also have constantly in
mind that whatever is done for bet
ter farming inevitably must react
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 am
pie marketing facilities. better
rural living and social conditions.
more labor-saving machinery. bet
ter supplies of farm labor. These
things mean prosperous and con-
tented farmers, whose production
year after year is the basis of pros
perity in the individual community
and in the nation at large.
"The farmers are ready to do their
part in what must be cooperative
| effort to reduce the cost OF getting
| farm products from the producer
| to the consumer. No business men
| should realize better than the bank
ers that any reduction that may oc-
cur in the farmers returns should
be preceded, or at least accompa-
MED, by CORRESPONDING reductions
in the prices of the things the farm
er must buy.
Bankers. and all other business
| men as well, should interest them
selves in the problems of the farm
er and aid him in securing facili-
ties needed in his business. They
should not countenance the assault
now being made on the farm loan
| farmer to secure money on favor
able terms without commissions or
renewal charges; finances him to
carry on the fundamental activity
| of our country. and makes provision
| for longtime payments that he may
/ plan ahead where necessary. The
| withdrawal of this aid to farmer,
would. in my Judgment, be a blow
to agriculture in America, and be
harmful to the country as a whole
There Is common interest OF
bankers and farmers in this system
Federal farm loans encourage a
land-owning, prosperous farm citi-
zenry in this country. That is the
| kind of farmers the banks, whose
chief business it is to provide the
personal credit and working capital,
desire for their customers.
'The Department of Agriculture
is doing all In its power to improve
agriculture. to make 1t profitable
and to bring about a more satisfac-
tory rural life in all it's phases. In
the prosecution of it's activities il
seeks and earnestly desires the cor
dial and sympathetic corporation
and support of the bankers ano
other business men of the nation,
as well as of the farmers, agricul-
tural institutions and farm organi-
cations.
1T is very gratifying to know
that In this 1t has the active assist
ance and cooperation of the Ameri-
can Bankers Association"
/