Every evening, Wilmington daily commercial., 1922-06-07
SHALL FINANCE CORPORATION STAY
BY Frederic J. Haskin

tion was revived by Congressional
action. and proceeded 20 mako loans
to stimulate exports n had been
urged that IL exports of farm products
could be stimulated. prices ~ these
goods would rise and tho American
farmer would DO revived
Then in August, 1921, fns corpora
TONS organic act again was amended
TO permit 1t 10 mako advances on agfi-
cultural products. whether or not they
were for export. The corporation Gro
ated an elaborate system of committees
ramifying tho entire country. Zach
committee wss. IN effect. n local agent
| Tor the great government bank az
Washington. a farmer. needing credit,
would borrow from his local bank. Tho
local bank would turn tho note over
| TO the COMMITTEES which would for
ward u 20 Washington 90 the cor.
poration. The corporation would ad-
vance money against n. r course,
not every note made by n farmer would
NJ tho requirements Of tho Jaw and
regulations The farmer actually got
his money from his local bank, bat a..
In many oases. would not lend ~ it
did not know Il could pass tho note
on to the corporation. In this way
large sum Of money has been al.
vanced to rellevs tho farmers during
the last 10 months
Another use the Corporation male ~
Its funds was 10 purchase. through tho
Director General Of Railroads, securi.
ties Of American railroads which haf
been pledged with the Director generhr
? on account Of additions and better.
2 ments made by the government during
; Federal control. When 70 appeared
! that the railroads were IN dire need
. OF funds, following their return - ths's
r owners, the War Finance Corporation
Y arranged to sell these securities % tha
- public. thus raising funds N afvancs .
- 70 the railroads
J a brief summary wifi show hov~
1 Imuch money this great govsrnmsn.
T bank has advanced 20 different groups
o Of tho American people. Advances
L made 70 May II 70 finance exporf g
= have amounted 70 tsO.250.t .t2O. Of this
!. sum i33 572 .273 has gone 70 ala cotton
:, exports. and 81 200 $40 for grain Ofher
n commodities exported under this a--
d sistance include tobacco. canned fruits,
meat products. condensed mix. ter-
, tiles. sheet steel. copper. srznr rnschin-
hht t'hAAMffA iilNf 'ftNN"fVs NffNFfNHN'
:, equipment and lumber
Advances for the relief - art
- cultural and livestock interests from
u August %. 1921. when thi- activity
WAS authorized. N May "a. the latest
. date for which figures have boon oorn-
" piled. aggregate 1927 s7sss1ss. This n-
e' nancing includes cotton. grain, Iive-
le stock. sugar beets rice. canned fruits
u dried fruits. peanuts. tobacco and ren-
r oral agricultural purposes Much oi
n this assistance was advanced through
cooperative farming associations ~.
.. vances made 70 banking and nnsncin,
he Institutions amounted 20 l23o isf o. I
ch and that portion made through The co
ne operatives 70 $50 522.219.
ly OF all These advs nca., whether 2.
an banks. cooperatives. or exports, ss47.
re 934.255 has been IN aid Of the asricul
a. turaI industry. and this vast sum IA
rs been lent IN period when farmer
rs. found difficulties in getting bank cred'
An through other sources. In cnnse0uencs
as the farmers OF the country are stronzl
rr opposed tn a Curtsilnent % The funo
ar tons Of tho Corporation.