The daily times., 1922-01-24
NATIONS farmers
RECOGN|zED.AS AN
IMPORTANT FACTOR
HAVE POLITICAL POWER
HAVE POLITICAL POWER
Everybody in Congress Realizes
the Importance of Pleasing
the Farmer, and President
Harding Says Government
Must Give Them Financial
Assistance.
(By David Lawrence.)
Copyright, 1922, by The Daily
Times

\Dy OdNlu La WI CACC.J
Copyright, 1922, by The Daily
Times.)
Washington, Jan. 23.-The farmer
came into his own today. He heard
the President of the United States
avow that the farmer must have
longtime credits to finance his crops
and that agriculture has a right to
as much consideration by the bank
ers of the country as any other in
dustry or business. The Presidents
address was a significant climax to
the movement which the agricultural
elements of the nation have started
in the last year for better treatment
of farming interests by the govern
ment. The farmers applauded again
and again as Mr.. Harding expressed
not merely sympathy with their suf-
ferings but a conviction that the
agriculture must be put on a business
basis with the aid of the banking
facilities of the government.
Back of the Presidents speech was
consciousness of the immense poll
tical power which the so-called agri-
cultural blOc-a group of Republican
as well as Democratic members of
Congress-have begun to WELD as a
consequence of the active demands
of the farmers in the agricultural
voting districts of the country. And
while Mr.. Harding sought to impress
his hearers that the issue was not
one of a class or a bloc, it was plain
that the farmer at last had made
his point and that the summOning
of the conference itself was notable
victory. For it is an answer to the
protesting voices of farmers for the
last three years, it is an effort to
placate the rebellious elements in the
Republican party which has always
drawn it's major support from the
farming communities, and it is, last
ly, an effort to harmonic the peace
time machinery of the government s
banking system with the admitted
emergency of an after-the-war dis
turbance.
Behind the discomfort of the far.
mer that he has to borrow money on
lshOrt-time paper is the knowledge
now, too, that the Federal Reserve
System can hurt him immeasurably
by passing word along to the banks
not to lend any more money. The
revival of the War Finance COrpor-
alton in spite of a presidential vote
is but temporary affair. The present
conference looks toward something
more permanent than an emergency
corporation. Most of the members OF
the agricultural bloc in Congress
think the answer is to be found in
Extending the Federal Reserve Sys-
TENS advantages to the farmer
President Harding has promised to
put a farmer on the Board but thai
will not suffice. The agricultural in
lterests want a. definite understanding
on fiscal policy hereafter. They, want
assurance of longer credits. This, the
president gave them today insofar
as it was in his power to promise
Upon Congress in the last analysis
depends the shaping of plans but il
Congress is to direct the Federal Re-
serve Board, then another contro-
versy7 will arise as to whether the
Board can operate effectually at all.
Farmers of the academic type, dirt
farmers, editors of agricultural jour
malls, members of Congress from the
farming districts crowded the hal
where. the President spoke. It was by
far the most interesting conference
Washington has seen in many day
For inathe faces of the audience was
evident tenseness and an alertness
which indicated that mere words
would in the end not avail much Mt
Harding did not hesitatetto point out
to the farmers that the burden is not
+ altogether the governments and thai
| Continued on Page Sikh