The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1921-08-04
Taking the Case of the New Senator from New
Mexico, One Finds ar Exception to the General
Rule That the Senate Permits Its New Members
to Do as Little as Possible, in View of Their
Senatorial lnexperience
lnexpericnce
By J. q. BENNETT


but possibly bankruptcy which wouid
rIVOrOsNis FOR RELIEF
what. In your opinion. should be
done to relieve his condition ?" Mr.,
Bursum was asked.
Every energy should he exercised
towards securing relief through lcgis.
iation and through the cooperation
Of the government authorities and n.
~nancial Interests. 30 that the pro-
duccrs Of my state, n other states
similarly situated may carry on their
activities and be enabled In the
,ourac u two or three years to re-
cover their losses. repay their loans
and get on their fcct again financially.
it Il Also necessary during this pc,
riod Of adjustment TO protect and
maintain the integrity OF u bank
Ina Institutions. In order to accom-
plish this greatest need Just now a
more liberal system OF credit whereof,
an extension OF time may be given Ia
the producer, an extension that will
conform 10 hts natural t%urnovers.
In keeping with this policy Sccro-
tary OF Treasury Mellon has just com
picted a wonderful piece OF work In
securing the cooperation OF New York
and western bankers in forming n
pool to raise $4,000, goo. to be used
reiieve the livestock situation. This
iunu ~ coilplcted anu tnt hh'nineth
Tor its handling about TO function. |
have strong hopes that the %organixa-
tion will he such MS to extend all nee
cssary credit TO the several western
states affected and win constitute n
potent factor toward the rehabi.ita
ton OF the stricken industries OF those
states. The problems Will not all he
settled even II this fund functions ~
fnlly and a. mttsthctoriy as every
hopes II will. but there Will be
substantial encouragement Tor the
prod%icer 70 exert every ettort 10
carry on"
In your opinion. senator Is he er-
ENLISTMENT ~ a liberal credit system
all that Is necessary to relieve the
situation existing IN your section OF
the country"
Not all. The fundamental trouble
seems to he lack Of trade activity and
the absence Of profitable markets.
Their Ia no actual shortage of money
In the country. We have more gold
than ever before In our history. W
are The creditor nation Of the world
We are the only nation Whose guar
anty ia worth 100 per cent throughout
the world. The relation OF gold re-
serve to outstanding guaranty never
was 30 high ~ at present Some
method must be devised by which an
extended loan of credits may be given
TO foreign countries who are wholly
In need OF some OF our surplus com
moditics 30 as to restore a profitable
balance between supply u demand.
tIANACING EXPORT TRADE
For example. the republic uf Mex
leo IN In a position To- absorb a great
deal OF our surplus. u IN addition Ia
friendly trade relations there was ne
gotinted and ratified a treaty between
the two countries based upon mutual
welfare which would open ~ n won.
derful market for essential commodi.
ues aud manufactured goods from
this country. II this were brought
about We would probably furnish
NoNico with 90 per cent Of her i'm
ports. I have the utmost confidence