The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1921-06-30
FINANCIAL HELP TO FARMERS

leaders of the house appreciates the
situation in that body, there is a
decided undercurrent there of insur-
gency. The republican majority is
very. large, a condition which in it
self is always difficult in control.
The democratic minority is too small
for independent action and its MEM
bers feel uncommonly free to vote
as they please for measures which
appeal to them, regardless of their
origin.
1t is a situation ripe for revolt
against a leadership which many
republican members feel is too do
minating, too personal and too close
ly held. There is demand for
broader consideration, more inclusive
consultation and greater freedom of
action. Bills with strong backing
which it is felt the house would
quite surely approve, are held IN
committee because not approved by
the leaders who control the house
organization. This is as old as the
DAYS of TORI Reed and Uncle Joe's
youth. But it has always been the
seed of trouble and with large
majority, an occasion for upheaval.
Party insurgency is never desir-
able; it leads to disorganization; it
causes delays, and upsets pro-
gram which always centers around
certain major measures. 1t is
something to be avoided if humanely
possible. The senate and the house
now have agraian blocs. Why? For
no other reason than to force COM
mittee action and where denied, to
compel action on the floor. The
senate bloc includes nearly third
of the membership. In the house
there is reason to believe that it has
close to majority, and in each in
stance is of both parties.
One of the measures held back in
the latter body is a bill for the fin
ancial relief of farmers. 1t has
passed the senate and is tied up in
the house committee on banking. 1t
wa introduced in duplicate by Sem
ator Curtis and Representative
Adolphus P. Nelson. 1t is rather
strange situation that the senate
should have quite promptly approx
ed such a measure, while the house
should hold it back from considera
ton on the floor, when its passage is
assured in advance.
1t is simple measure to which 1t
is difficult to see objection. 1t is
not in any sense an appropriation,
but loan bill. 1t but increases the
fund now available to the federal
farm loan board for loans to farms.
1t has the endorsement of the board
and of Secretary Mellon. The
treasury is fully protected. 1t
would, in fact, relieve the treasury
by providing a sufficient quantity of
the farm loan bonds to warrant
public offering and sale. 1t would
also relieve the present somewhat
serious strain on the country banks
and TO help put them in condition
to finance the coming crop movement
These banks are now full of short
time paper, perfectly good, but it
cannot be liquidated. If this could
be changed into long-term farm
mortgage loans, the banks would
have the available cash which must
soon be supplied from somewhere.
They cannot now extend any further
accommodation to the farmers, who
are also cut off from other sources,
such as the great insurance compan-
les, that are insisting on mortgage
payments and turning to the more
profitable bond field.
Every report which comes from
farm territory, without variance
tell of very critical condition.
Here again is a danger of insur-
gency, if not wave of radicalism.
The farmers have liquidated in the
prices of their products, which are
back at prewar levels, or below. No
farmer dares make long term loan
at such prices for his products, and
q high interest rate. His revenues
having reached the bottom, his carry
ing charges, which must extend over
a considerable period of years, must
be on the same level, or he but post
pones his day of reckoning.
What the farmers most need is
this immediate financial relief. They
need financial stability and the feel
ing of financial security. The tariff
is slow acting. The regulation of
the packing industry will be of this
same kind. The farmer cannot wait.
He must eat, plant and operate his
farm now. His creditors will not
wait for future indefinite profits. He
has abundant security, but can
neither get money from the banks or