New-York tribune., 1922-01-24
Crisis in Agriculture a
Grim Reality, He Says,
in Opening National
Conference in Capital
Holds Longtime
Loans Essential
and Power De-
velopment Favored as
Features of Program

WASHINGTON, Jan. 23.-lmmediate
relief must be given farmers in the
present agricultural crisis, delegates
to che National Agricultural Confer
ence. which convened here to-day. were
told by speakers representing every
phase of this industry President
Harding, who opened the conference
with an address; Secretary Wallace.
farmers and representatives Of indus
tries dependent on agriculture, en-
phaszed the seriousness of the situa
ton and suggested remedies.
Remedial measures outlined bv the
President and subsequently indorsed
by many of the speakers included more
adequate financial facilities, especially
working capital, for the farmer on long
time loans to provide for his turnover;
extension of cooperative market
ing, buying and loan associations OF
farmers; development of waterway
transportation and power possibilities
more efficient machinery for collecting
and distributing market information.
including the demand and consump-
tion outlook; development of the St.
project and assurance to agriculture
PROJECT. and assurance Of agriculture
OF equality Of opportunity with all
other industries.
Freight Rate Cut Demanded
Demand for reduction of freight
rates was voiced generally by the
farmers and reduction IN retail prices
also was suggested as a necessary step
to start increased consumption of farm
products.
Depression in agriculture, which
was declared to be general in the
United States by speakers from five
Leading farm regions, is reflected in in
dustries intimately connected with and
dependent on a prosperous agriculture,
it was asserted by representatives of
the milling. packing, fertilizer and i'm
p!ement industries. Each of the latter
pledged full cooperation with agri-
culture in any effort looking to resto-
ration of normal conditions
Secretary Wallace, as head Of the
Department of Agriculture, outlined
the purpose Of the conference after
President Harding had delivered his
address, and Representative Anderson,
of Minnesota;r was then made perma
nent chairman, while twelve major
committees were appointed to study
various problems with the view of sub
hitting recommendations.
Development of a thorough code Of
law and business procedure with the
proper machinery of finance, to assure
the farmer IS generous q supply Of
working capital on as reasonable terms
as is granted to other industries, was
advocated by President Harding in his
address.
Declares Security Sound
"An Industry the President said,
more vital than any other, in which
near half the nations wealth is in
vested, can be relied upon for good
security and certain returns"
Declaring that in the matter of what
may be called fixed investment capital
the disadvantage of the farmer so i'm
pressed public opinion that the Fed =
eral Farm Loan Board was established
to meet the need, the President said
the farmer still needed some provision
for supplying him with working capi-
tai.
"Compared with other industries, "
he continued, "the wonder is that aeri-
culture, thus deprived Of easy access
10 both investment and accommodation
capital, has prospered even so we'll"
"The cooperative loaning associa-
tions Of Europe have been effective in
centves to united action by farmers,
he continued, "and have led them di-
rectly into cooperation in both pro-
duction and marketing which have con-
tributed greatly to the stabilization
and prosperity of agricultural
Whether these organizations arc con-
sidered as means to buying the farmers
requirements in cheaper market, the
President asserted, or to selling his
products in more remunerative one
"the conclusion in all cases is the
same. 1t is that the farmer is as good
lCantfnueh nm