Evening star., 1921-11-29
:[0NG-TERM CREDIT
VITAL TO FARMER
Milk Producers Told Banks
! Should Be Allowed to
~ Give Aid.
By the Associated Press.

By the Associated Press.
CINCINNATi. November 29.-Adap-
tation of the banking machinery of
the country to the credit require
ments of the farmer and reduction OF
freight rates on farm products were
advocated as the most pressing needs
of the agricultural industry in an ad-
dress here today by Representative
Anderson, chairman of the joint con-
gressional commission of agricultural
inquiry, before the fifth annual meet
ing of the National Milk Producers
Federation.
Pointing to the farmers need for
credit of maturity corresponding TO
his turnover and his ability to pay,
Representative Anderson said he
favored permitting all existing imam
cial institutions dealing directly with
the public. including national and
state banks, to make loans-to farp
ers for periods of three months to six
years They should be able, he added.
To rediscount the paper with the
federal land banks or act as the
u. ect agent of those banks In max
.us the loans, the, farm notes then to
% used as basis for insurance of
,..o-. time debentures by the land
sAS&A IN turn. the federal reserve
A4AsA =. said, should be authorized
&c ss~ srS sell these debentures and
nSse - ee<S scount for the land banks.
~rekSA 50 months maturity, other
ssy~ ps9ef>
S~pss~<svs s!ethods Would Aid.
-. iar~.> ut only needs an inn
s.4hiate downward revision OF trans
sertation rates on his products. KEEP
resentative Anderson said, but also
material reduction in other elements
of the spread between the producer
and the consumers prices, whlcn. ne
stated. constituted half the latter
price The problem of distribution
costs. he added. could not be solved
by the farmer alone. but required the
cooperation and understanding OF all
who enter as factors in distributor
Development of sound, cooperative
methoas by farmers. however. he Pc
lieved. could contribute much to the
solution.
Objection to an amendment to the
pending CapperFolstead cooperative
bill by the committee on the judiciary
of the United States Senate which
provides that If the formation Of an
association results in the creation or
an attempt to create a monopoly the
organization itself is illegal. was
voiced by Representative Andrew j.
Eolstead. when addressing delegates
attending the meeting OF the Natlonal
Milk Producers Federation.
Takes What 1t Gives.
This. as 4 construc the decision OF
the court has the effect of taking
away with one hand what is supposed
to be given with the other. and would
leave the legality of these organiza-
tions in as great, If not greater.
doubt than at present" declared the
representative.
As AN example of organization he
called attention to the American Fed
Grafton of Labor, whose representa-
tives. he said. occupy seats in the
galleries, at Washington and sway
power any direction they wish
Other speakers included r. NJ. Bal
derston, Philadelphia, secretary of
the Interstate Milk Producers Asso-
citation. and Milo D. Campbell, Cold
water. Mich, president of the associa-
ton, who presided. John D. Miller,
vice president and general counsel.
Dairymen's League, Utica, N. y, who
was to have led a discussion on the
-Capper-Volstead bill, following Rep
sentatise Volstead, was unable t,
attend the convention because of ILL
ness.