The Big Sandy news. [volume] (Louisa, Ky.) 1885-1929, 1921-12-09

4 Written for the Big andy News,
In norma times IL has been the prac-
tice OF the farmer to sell his products
within short time after the harvest
He was then in position to put the
returns into meeting his financial
obligations and buying his supplies
and equipment for the next operation.
But when he has to carry his output,
or a large part Of 1t, on the farm or
In the warehouse, as has been the case
this last season. his capital is tied up
and he " not only faced with the diff
ficulty OF meeting his obligations but
ne cannot go ahead properly with his
regular farming business. He hasn't
the money for seeds, labor. and equip
ment and he is brought TO stand
still.
When the agricultural population is
affected In this way the whole nation
cells the pinch. THE FARMER Is
THE GREATEST BUYER IN THE
COUNTRY as well as the greatest
producer But his potential purchas-
! ing power cannot make itself felt In
an effective manner so long as he is
compelled to play the role Of keeper
! Of the national storage. so to speak.
He may have done his part in produc-
ing food and other commodities He
may want to continue operations and
be willing to make the necessary ex-
penditnre. but unless he can find a
market for his products his hands are
tied.
The way out OF this situation is to
unite the farmers hands-to PRO-
70 HIM WITH THE MEANS Of
spreading the marketing OF his prod
ucts over a longer period and at the
same time OF carrying on the regular
far moperations, II, in this way, we
can help the farmer TO help himself,
the good effect will extend gradually
through our whole business structure.
The War Finance Corporation is
now making every effort to supply Just
this help. To assist In the orderly
marketing OF agricultural products,
the Corporation Is making advances
on adequate security and on a sound
business basis to properly qualified
associations of producers to financial
Institutions. and to exporters of agri-
cultural products. Good results have
already been obtained For instance,
the cotton belt used to make so per
ent OF it's exports Of cotton within six
,onths OF the harvest Last year II
forwarded only 81 per cent in the same
period This has necessitated the
carrying OF from a million and half
TO two million bales OF cotton into the
hieny on the original producers and
the country banks which do their
financing. The War Finance Corpora
tien has authorized advances of near
ly s6o000,ooo on cotton. and the i'm
proyement in the situation in the
South Ia undoubtedly due in no small
degree to this assistance.
Steps have been taken by the or
ration TO meet the financial needs
OF the LIVESTOCK INDUSTRY. so as
TO eliminate the necessity for sending
immature stock to market and to save
the breeding herds; and assistance is
being given also TO CORN GROWERS.
WHEAT GROWERS. AND MANY
OTHER BRANCHES OF OUR AGRI-
CULTURAL INDUSTRY. There Is
still much to be done but what has
already been accomplished indicates
clearly that we are on the right road.
The restoration In a marked degree
OF confidence In business circles in the
South as n result Of the improvement
In the cotton situation has been felt in
other parts OF the country, The pur-
chasing power OF the cotton planter,
having been greatly Increased, HE
HAS GONE INTO NORTHERN AND
WESTERN MARKETS FOR PRO
DUCTS THAT, HE NEEDS to carry on
his business and TO support the labor
that works his plantations.
Somewhat similar results may be ex-
ptcted in other regions and with 9TH
er lines of agricultural commodities.
because the loans made by the War
Finance Corporation will help to sta
bilize the market and thus to engender
the confidence necessary for more
equal distribution OF stocks among pro
ducers. jobbers, wholesalers. and re-
tailers on the basis Of the probable
needs OF consumers NO OTHER
SINGLE THING WOULD DO MOREl
THAN SUCH A DISTRIBUTION TO
RESTORE BUSINESS IN A SOUND
AND CONSERVATIVE MANNER
The Corporation has no authority
under the law to make direct loans to
Individual farmers. Along with other
methods. II is seeking TO reach the
farmer or stocl1nan through his local
financing institutfon-the institutibn
with which he is accustomed TO do
business and which is in close touch
with conditions In his community. BY
advances to such Institutions. not on
ly will the pressure for forced liquida-
ton be relieved but the BANKS WILL
BE PUT IN BETTER POSITION TO
TAKE CARE OF THE CURRENT
NEEDS OF THE FARMERS to the
extent that their Individual credit may
warrant.
Any bank desiring to secure an ad-
vance from the War Finance Corpora
ton should make application through
the Agricultural Loan Agency OF the
that has been established
In It's territory. The address OF the
Agency may be obtained from the