The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1922-12-21
FARM LOAN CREDITS

That congress will pass rural credit
legislation TO alleviate existing credit
| limitations is assured, but as TO the
manner of the administration and in
what manner the job shall be handled
| is not yet clear. The Lenroot bill,
now under discussion. is admittedly o
/ workable rural credits scheme but
/ Charles E. Lobdell chairman of the
! farm loan board, told the senate COM
| mittee that he would prefer that the
new system be attached to the federal
4 reserve banks, instead of to the fed
! eraI land banks He contends that a
more scientific system would be pro-
1 vide6 by the reserve banks, as the
| new farm loan department would deal
! with personal credits, as is its pres
/ ent business, while the officers of the
/ federal land banks SIRE more expert.
/ enced in the question of farm lani
/ credits.
Be this as it may the farmer is soou
/ to find a way of increasing his loans
and to be able to borrow on commodi-
ties, in order to be able to hold them
out of glutted markets. This will help
in the sterilization of prices ond more
orderly marketing.
There are men who want to see the
control and management of the fed
eral land banks turned over to the
! stockholders in these banks, or rathe-
to the borrowing stockholders. The
American farm bureau does not adj
vocate such measure and believes
that if this were done the present
conservative policies of the federal
land banks will be practically aban-
doned in some districts" On this
i feature the News Letter gives a reason
for this belief by citing the following
happening, and says:
Dangerous Policy
For example, in one of the districts
anticipating this reorganization an in
dividual has announced his candidacy
for membership on. the federal land
: bank board of his district, announcing
as one of the planks of his platform
that if elected he would oppose the
foreclosing of any mortgage within
that district. Complete domination oil
the federal land bank of a particular
district by those elected because of q
campaign for more liberal loans anC
{ less stringent enforc ament of borrow
/ ers' liabilities, would most certainly
impair the bond market, which woulc
|
/ bond rate and a higher interest rate
| Institute at Whitewater
The farmers of Franklin TOWNSHIP
are to devote two days of holiday weeE
: to their second annual institute. a.
: Whitewater. 1t will be held in NJ E
{ church on Tuesday and Wednesday
t December 1921, and an interesting
> program will be offered. The first ses
eli I.,r-
ed by community song, led by Dor
Jennings, followed by an invocation
t by Rev. Ulmer, after which o. c. Hun
will deliver an address of welcome
Winter management of the laying
flock, by Ernest Newman will be th'
, subject of the first business talk o
the meeting. An address by Hon
: James X. Knapp, THE Legislature
and the Farmer" will complete thu
l morning session, except committee
announcements.
While there will be no evening SEES
sions of the institute IN entertainment
, program will be put on at the Chris
! tan church on Tuesday evening
: Prizes will be awarded on grain ant
: seeds and also on the products of tn,
household economics class, and Of
bread and pastry to any who may wisl
to compete.
Farmers On the Subsidy
: Senator Brookhart of Iowa made hi
: first speech in the senate in oppos
= tion to the ship subsidy bill H
: wanted it sidetracked in favor of tn
i Norris bill, which would create a GOV
/ eminent corporation with 800, 90
capital to buy and sell farm products.
What the friends of the subsidy
|. asking congress to do is to authoriz
t government aid to an American me
V chant marine. A Chicago editor say
V that Farmers Would have reason t
/ protest a measure which would fore
the carrying of their farm products t
Y foreign markets in slow and obsolet
:, freighters which would handica
A m prican farm arC in anhincy unrl