Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-12-19
EP0CHAL MEETING
OF AGRICULTURAL
INTERESTS is HELD
Continued from Page y

York City. Other Georgia, delegates
are returning direct home.
Predict New Association
Before leaving here, Mr.. Jackson
said that Aaron Sapiro, of California.
originator of the Sapiro plan for CO.
operative marketing, had agreed to
go to Albany. Georgia, in February to
discuss cooperative marketing with
the nut growers. of Georgia. A CO.
operative nut growers association
probably will come to the Albany
meeting with Mr.. Sapiro.
Mr.. Sapiro was dominant figure
! in the cooperative council here and
it's recommendations follow his ideas.
These recommendations, in brief,
contemplate the minimum of pater-
nallsm, and the maximum use of eI.
listing financial machinery, that ma
| chinery to be altered to give the
, farmers the same access to its credit
facilities that other industrial groups
possess. Indirectly, the recommends.
lions contain a slap at the Norris
) bill to stabilize agricultural prices by
use of funds in the federal treasury,
under a scheme somewhat similar
| " tiLS O1u Gill COI pO1 dLlO11 VI Wal
time.
| When the council met in Washing
ton, the statement was made. thai
the purpose of the meeting was to
take action for the protection Of
the swiftly developing cooperative
marketing associations, now that con-
gress is engaged with rural credits
as major problem.
| Recommendations Made
| AS matter of fact, the council
made protection of the interests of
: the co-operatives merely a part of
! general recommendations on the
whole question. These recommended
| lions in summary follow:
The farmers primary reliance for
credits should be upon the local
banker, who is likely to meet the
| greater part of the needs. To enable
i the local banker to do all that he
can, he should be allowed to turn
into the federal reserve system ag-
ricultural paper taken for as long
as nine months.
| Agricultural paper should include
the paper of cooperative marketing
associa tions. To supplement the To-
cal bankers, opportunity should be
made for organization of agricul-
tural credit corporations, to give ag-
ricultural paper loans of nine
months, and live stock paper loans
of as much as three years. These
corporations would unload into re-
discount corporations, which, in
| turn, would unload into the federal
reserve system.
i1I, a., ,%l oiI
and this is about the only paternal-
istic feature. of the recommendations
departments should be created in
the farm, loan banks to loan on ag-
ricultural paper.
Particular restrictions should be
placed around loans to individuals
for production purposes. Further,
the farm loan banks should be au-
thorized to loan a maximum Of $685.
600, instead of $4,000.
Must Help Credit
Barring the extension of the ex.
listing federal farm loan system TO
include rural credits, as a minor
phase of the rural credits program,
the program boils down adaptation
Of the rural fiscal system to agri-
cultural credit needs, plus the Gre
alton of privately owned loaning in
situations. The central idea of the
whole program is t if the farmers
turnover covers u | ng period, his
credit facilities in ordinary banking
must be matched to the turnover,
as is the case with other industries.
Given what he needs in the pres
ent system, plus the two supplement
tails, one privately owned institution
and one extension of the farm land
banks, the council holds that the
farmers financial machinery will be
adequate, so far as present condi-
lions go. The balance of the aer1-
cultural problem will be a problem
of management, in getting the crops
into the ground, maintaining the
farmer and his family while they
are growing, and getting them fin
ally to market on a sound basis,
| The credits system contemplates
two classes of production loans, one
for seeds and maintenance, and one
for equipment. And, of course, it
contemplates marketing 10 a n S,
whether to individuals or to coop,
erative associations, to the end that
the farmer will not be compelled to
sell his crop as soon as harvested,