, 1922-01-26
Put the Farmer on His Feet

"Everywhere one hears the query
what is the outlook for business
Never before have we faced 80 many
problems clamoring for inteIli-
gent solution To America = the
looking for fEr-seeing and CON
attractive leadership and upon US large
rs depend the conditions which shall.
Prevail here and abroad on the day
after torncTrow-the day after we
shall have passed through the pes1od
of re-adjustment md rehabilitation
and be once more actively engaged In
producing and consuming ia an or
'cerly buslness-iike why
Good business then depends upon
COOL Judgment now With good
judgment go individual Initiative and
nard work az the essentia, elements
I'm making 1922 a stepping stone 20
financial stability and Industrial ac-
tivity.
"yyhAt is our first step? What is
our most important task at this hour?
What needs our most careful-ycs
prayerful-attentlony There is a real
challenge in the answer-agriculture.
1.-THE fundamental wealth of Amer
lea is the productivity OF her soil.
Transportation = manufacturing -
jobbing-banldng - merchandising
labor all take on new life when the
farmer prospers-aii suffer when his
purchasing power IS materially cur
tailed God In his bounty has given
us the land and the water. We have
the man.power-we have tho machin-
ery-we hav the gold-shaii we put
them all actively TO work hat the
world may be clothed and fed and
Americas new era Of prosperity built
upon the firm foundation OF new
wealth created7
"A crop that can be mado and Is
for any reason rot planted or har.
vested is an opportunity forever lost
time and money hat can never be
regained. Rotation of crops is agri-
c~urturally oun and diversification, is
desirable-provided-for a commodity
of which there is a great surplus sup.
ply there DO substituted something
more sorely needed.
World movements Indicate a grad.
ual clearing up OF the foreign finan-
cial skies. II the series OF ihterna-
tlcnal conferences being held result in
re-establishing the buying power of
Europe the fall may find us facing
an active demand for our fundamental
commodities. 1t will then he too late
to plant tho necessary crops.
Should the foreign situation not
improve materially then financial
America must provide the machinery
for carrying the surplus temporarily
and prevent Generalization in values.
The demand cannot be long delayed II
the needs of the world are to be prop.
orly supplied. Today crops may be
both planted and financed on n materl
ally different basis of risk than was
incurred during the period of high cost
of production. What shall the banker
do?
Help the farmers of his neighbor
hood to approach this planting sea
son with cheerfulness and a rugged
determination TO succeed. Put new
hope in their hearts-through con
tinued sympathy and cooperation as
sist them over the rough places.
Many of them are discouraged and
disconHolate as they review the losses
of the last two years. They must be
stimulated to look forward not back
ward and the banker must help bridge
the gulf between the disheartenins
past and the promising future.
'They still need the bankers active
support-he needs their energy and
ability to create new wealth If his
loans to merchant and lawyer. doc
tor and school teacher, manufacturer
and the farmer himself. are to be
liquidated.
A in the immediate past. display
cor .dence in those who have shown
their willingness TO work and their
ability to create-once more assist
them in financing their needs for
observation-disclosures II we are
TO press forward successfully. agricul-
ture must not be allowed to become
dornoralized.
For 40 years the south's crops were
financed when the average farmers
only collateral was his character and
his chattel mortgage. This collateral