The Dillon herald. [volume] (Dillon, S.C.) 1894-????, 1921-07-14
FOR RAILROADS;
PITTANCE FOR FARMERS.

In a speech in the Housee recently
Congressman Stoll arraigned the re-
publican administration for its liber-
allty with the railroads and its mig
gardly treatment of the farmer in
providing funds on which to operate
MIR. Stoll endeavored to impress upon
congress the necessity of providing
ample funds to help the nations only
producers of real wealth the farm
ers. He said in part:
Mr.. Speaker, the object of this
bill is to make available 25,OOO,OOO
to the farmers of the country by loans
through the farm loan banks.
There are really only three ques-
tons before us in the consideration of
this bill. First, is the condition OF
the farmers such as to demand that
the Congress provide additional funds
for the farm loan banks, SO that they
may extend further loans; second,
what amount is necessary to give the
farmers the relief that they are en-
titled to under the proper functioning
OF the farm loan bank; and, third,
to what extent can the Government,
through the farm loan banks, extend
aid at this time and keep within the
bounds of safe and sane financing
The debate on this bill discloses
that we are all agreed that the pres
ent condition Of the farms is such as
to cause gravest concern. 1t is alarm
ing, when we stop to consider, that
in the deflation of the prices of farm
products of the last crop over the
previous one that the farmers of this
country have sustained a loss of ST.
900. and this despite the fact
that the edemand throughout the
world has been greater than the sup
ply. 1t certainly is an anomalous con-
dition that with the world demand
greater than the supply that there
is no ready market for many products
OF the farm, and that the farmers
should be forced to sell their products
at price far less than what he was
able to realize a year ago. And to aid
to his discomfort, the farmer had to
produce his crop under conditions
that made it the most expensive crop
ever grown. There are several causes
that brought about this condition, but
the two most pertinent in the consId-
GRAFTON of this bill, and to which de-
sire to call attention are the failure
of the Reserve Board to extend the
necessary credits for financing the
crops by adopting unwarranted. un-
necessary, and arbitrary restrictions
CT credit. and thereby making the
farmer the victim of a financial con-
dition that was unexpected by him.
and which could have been avoided if
the Federal reserve banks, through
those who directed their policies, had
sought to help the farmer instead of
running him.
Running hand in hand with the re-
striction of credits by the Federal re-
serve bank and bringing added dis
comfort to the farmer was the litlga-
tion which held up the operation of
the farm loan banks and which caus-
ed that agency to cease functioning.
1t so happened that the two govern
mental agencies which above all 9TH
ers were capable of rendering assist
anee to the farmers of the country
failed them when most needed-the
Federal reserve bank either through
harrow and intolerant opinions of fl
nance or deliberate purpose TO lay
the farmer upon an altar of sacrifice,
for unknown selfish reasons, and the
farm loan bank, through it's inability
TO function because of being enjoined
by the courts.
In considering the present financial
condition of the farmer. if We wish
TO be fair TO him. we must take cog
nizance of the fact that many have
their entire savings of many years of
hard work invested in the land that
they cultivate. The crops raised by
our farmers are not natural products
OF the soil, but must be planted. cul-
tiVate6 and harvested antailino ,Ct
only much labor but the expenditure
OF much money 1t is estimated that
the farmers Of this country have $780,
600, 900. 600 invested on which they
get no return, The profits OF
farmer are figured on what he gets
out of the crop. stock and so forth. on
his farm. There is no business in the
world in which $80,O00,O0O,0OO rep
resents the capital invested and where
the work goes on every day in the
Year, and hard and increased labor of
10 hours or more day performed,
that the returns anywhere approx
mate the low per cent the farmers
earn on their investment and the
labor performed. And yet many do not
appreciate the farmer He is appealed
to during the election, when his vote
Is needed ,and then he is allowed to
return to his plowhandles to feed
and clothe the world. In legislating
for him 1t sometimes seems that law
makers are desirous only of giving
him the least that is possible with
safety to their political welfare. To
my mind the farmer Is the one big
thing in our American life. He makes
our commercial prosperity possible;