Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1921-06-14
LOANS To FARMERS
GET ENDORSEMENT
FROM MANY BODIES
By HERBERT QUICK

WASHINGTON, June Ill have
received letter from one man who
insists that the breaking of the
log-jam of unso1d farm products
and the saving of our farmers from
bankruptcy-as contemplated by the
Norris bill pending in the United
States senate-wiN not help labor or
other Industries.
I think there are few who agree
with this, since most intelligent
men know that business is a chain,
and it's strength is that of it's
weakest link. But there may be
others equally short-sighted. For
their benefit let me quote Commits
sioner A. w. Gilbert of Massachu-
sets.
Something should be done" says
he, writing of the Farmers Export
Financing corporation which it is
proposed to have organized under
the Norris bill, Ito open foreign
market for agricultural products.
THE SURPRISES which are causing
so much bankruptcy among our
farmers are proving to be serious,
not only from their standpoint, but
from the standpoint of business in
general.
1T presume that a considerable
amount of the stagnation Of bust
ness among our New England fac
tories is due to the fact that the
farmers of the United States have
lost their buying power and are not
purchasing our Il. GOODS S9l5 nro,-das for
the loan by the government OF some
of the profits it made on the farm
ers' grain through the grain cor
poration to start the Farmers Ex-
port Financing corporation.
Farmers union, National Bureau of
Farm organizations, Farmers Ma
tiona1 council. National Grange, the
American Farm Bureau federation,
'and so far as I know all the farm
organizations.
chamber Of commerce of Des Moines,
Iowa, has Endorsed the measure,
and addressed Iowa congressman
and senators in it's favor Unless
the Iowa farmers bread is butter
ed Des Moines will eat hers dry:
1t is the same with cities and
towns generally.
Governor McRae, of Arkansas, is
SO impressed with the plan that he
asks to be called on if there is any
specific act which he can perform
to further this salutary project"
NONGIuOI IluSS6IlJ VI
offers his cooperation to the peo-
pie back of the bill.
Governor Allen, of Kansas, wrote
Carl Vrooman that Vrooman's man
ifesto for the bill is full of san
ity and constructive suggestion"
railway. Fairfax Harrison, writing
of the same thing, says, 81 may
say that L agree with you entire
Says N. D. Maher, president of
the Norfolk & Western railway.
portance of the scheme you have
on foot. The lack of foreign trade
today is one Of our greatest trou-
bles, and until we get our surplus
products going abroad, as they were
going few years ago, with large
fresh money coming in, we shall
not have the prosperity we had at
that time. Doubtless the question
now is one of long credits and the
carry on this trade. Your. plan or
some similar plan, I think, will
have to be adopted before we can
\ expect a revival of business"
Yes, credits! But Herbert Hoover
says that the European countries
sufficient property of undisputed
value to provide adequate and safe
securities for the business of financ-
ing the export of our farm sur
pluses.
Governor Thorp. of Colorado,
thinks I'll the proposal t5 an saanp is
promptly taken 1t should be posi-
BILE to perfect the organization to
the practical operation by midsum-
mer or early fali so that the stored
staple crops could be partly dis
posed of before the new crops be-
None of the men quoted as favor
ing the plan have seen the bill.
they wrote of the general plan
This is a local issue everywhere.
Europe is hungry and naked. Ou%
barns. sheds, lofts, elevators and
warehouses are bursting. SO Tar as
we are concerned hundreds OF mill
lions of dollars worth would en-
barass us less if thrown in the sea.
All that is needed is credits.
Nothing but a purely agricultural
products plan will work. The best
thing the man interested can DO is
to interest his farm organization
his chamber Of commerce, his labor
union, or other local bo1y. to study
the matter, and let his representa-
tives know what he thinks about
it.
SAYS Vrooman, UNLESS we act
now, nine-tenths of the tenant farm.
by fall, and that will mean bank
rIptcy to thousands of little banks,
which in their turn would drag
down some of the larger. banks Of
the big financial centers."
To avoid further destruction of
crisis. -