The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1921-06-10

bank officers. Bankers gave Judge
Ramsey and AIR. SAMPSON nrst hand
information AZ 20 the general sltua-
tion IN the state and stockmer told
their personal experiences and diffl-
cullic5 In obtaining adequate credit
and IN finding buyers for their stuff
Confirming the general information al
ready In their possession. these con-
f~crenccs. Judge Ramsey said. merely
served 80 further convince him Of the
imperative need for some hroeder
plan OF assistance and that the time
has come when the nation. In the In
tcrcst Of one Of It's principal produce
ing industries should come to the
relief 81 the livestock srowers with a
assistance IL the way OF liberal cred
rtamacy speaks 81 ~Inncheon
At no0E local bankcnH WIRE hosts
a . luncheon a the Alvnmdo hotel.
IN honor OF the Visiting offictals
NJ which some fifty prominent bank
erB and livestock growers were guests
Al this luncheon Judge Rarsey
spoke briefly. outlining the situa-
ton and the measures Of relief tina
are In contemplation facts which
he proposes 10 state In greater detail
at the general meeting which opened
lat 3 o'clock this afternoon In the
Chamher Of Commerce.
Fosiowing Judge Ramsey's address
"A. u. McMillcn Of Albuquerque pre-
seated the resolutions. eivcn In an
other column. which were adopted
unanimously and recommended for
abe consideration Of the larger meet
inR during the afternoon. These res
ln%lutiona. u d expected. will be placed
EN- the hands Of Governor Harding.
land also with members OF congress
from the states most Interested, az
we'll a. with h secretaries OF the
treasury and % the interior.
Time FOR Acsion. Ramsey says.
Speaking al the Don luncheon.
| Judge Ramsey said that he must not
be misunderstood as prescribing the
i views Of Governor HnrdinE. but
rather hls " personal conclusions
A. 10 the ~noccsEltics OF The situation.
/ He said, however. that al his last
/ conference with Governor Harding
Iin Oklahoma CITY on May -. the lat
Ter had then had In mind a plan
proposing TO make available a min.
i lmum of sIoo. 600 600 which could
BE- used By the reserve hanks IN the
form Of u revolving crcdi fund
which would serve Immediately 10
I rtllfvc the iccsl banks throughout
the livestock iealons 81 their over
burden Of livestock loans and which
| would oporate 10 provide long term
credits. the fundamental need OF the
Industry.
Governor ~ILarding's wresent trip.
the speaker said. was 10 further study
tbs practical working out Of hts pan
u foId GONerno- Harding, judgu
I,amsry said. that " he could wori
lout his plan and put u into pructicaI
operation Il would stand as a mon
ument t. him and to hiE children
ana would be a boon Of iuesimabl,
Yahuc 20 the livestock Industry OF
the nation.'
Rsalisr Need foe Help.
The eleventh reserve district
Judge Ramsey said. is the great
breeding ground 81 the nation. w
have been In a position 10 know IN
serious conditions u tho livestock
Industry. aud ] think the hankeri
present will agree that everything
possible to be done to relieve n hai
been done by the Federal ReserN'
hank ~ this district n We have
erred in ans way II has been In tina
~ have loaned money too freely.
IAN our industrleH have hcon M
hy the unprecedented decline II
pnces. but whereas the farmer may
with a recovery 81 prices aud one %
two ~successfui growlng seasons, re-
COUP MS iNnnfHi TIT WhfHNN'N NN'N'A
with hlH breeding stock impaired
cannot make such "a recovery wtthii
double the time. or more. In our as
lfrict ve have realized Tot some tim
tho necessity Tor action % relieve "a
livestock srowcra The industry can
not be financed on short term crediti
Thr industry IL one upon which ~
nation depends Tor n principal SQUIRE
% the food supply. The rhortag
nov existing u definite and wei
known. There Is no outlet for ~
cattle o. the breeding grounds IN ~
normal market OF tho northwest be
cause OF the stockmen there, IN thoi
turn. are not able "a buy u rcstocl
their depleted ranges
Therefore IA has seemed 20 me q
be necessary tnat the nation ar
whole come 10 the relief Of the live
stock Industry and aid actively IN put
ting n on is feet.
Warus Against Speculation.
ia u. unfortunately, the trndencl
Of some livestock growers 20 borrow
too freely when credits are easy, an
20 complain bitterly when nnancia
conditions are tight There II a mid
die rround % conservation. based OF
hard work and close etientien % dc