The Union daily times. [volume] (Union, S.C.) 1918-current, 1922-01-24
McAdams Urges =.
Aid for Farmers
Bankers President Calls Agriculture
Their Great Problem-Pro-
ductiOn Is Vital


paternalistic legislation or
specious nostrums but through the
application of old fashioned, common
;ense and American banking and bus
mess principles. World movements !
Indicate gradual clearing up Of the |
foreign financial skies, and if the buy |
ing power of Europe is reestablished,
the fall Of 1922 may find America |
facing an active demand for our fun
damental commodities"
Thomas B. McAdams, president of
the American Bankers Association, in
a special message to the bankers of
the most important task before them
at this time, and the one which re-
quires their most careful attention.
and undivided support is agriculture.
The world must be fed and clothed
and Mr.. McAdams emphasizes thel
fact that Americas new era of pros
perity must rest upon the firm foun-
dation of new wealth created. The
needs of the world must be properly
supplied, he says, and it is the duty
of the American bankers to help the
American farmer by bridging the gulf
between the disheartening past and
the promising future. The message
reads:
The Day After Tomorrow
everywhere one hears the query,
What is the outlook for business q
Never before have we faced SO many
great problems clamoring for intelli-
gent solution. To America is the
world looking for far-seeing and con-
structive leadership and upon us
largely depend the conditions which
shall prevail here and abroad on the
Day After Tomorrow-the day after
we shall have passed through the
period of re-adjustment and revitali-
gagged in producing and consuming in
IN "rderly business-like way.
"Good business then depends upon
good Judgment now. With good
Judgment go individual initiative and
hard work as the essential elements
in making 1922 a stepping stone to
financial stability and industrial ac-
tivity.
What is our first step? What is
our most important task at this hour?
What needs our most careful--yes
rayerful-attention? There is real
challenge in the answer-agriculture
"The fundamental wealth of Amer
ica is the productivity of her soil.
Transportation - manufacturing -
| jobbing - banking merchandising
- labor all take on new life when the
! farmer prospers-all suffer when his
/ purchasing power is materially cur
! tailed. God in his bountry has given
us the land and the water. We have
| the man-power we have the ma
chinery = we have the gold - shall
we put them all actively to work that
! the world may be clothed and fed
and Americas new era of prosperity
! built upon the firm foundation of new
wealth created?
"a crop that can be made and is
for any reason not planted or har-
vested is an opportunity forever lost
regained. Rotation of crops is agri-
culturally sound and diversifcation is
desirable-provided-for CONNIE dity
of which there is great surplus sup
ply there be substituted something
mere sorely needed.
"World movements indicate grad
ual clearing up of the foreign finan-
cial skies. If the series of interna-
tional 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 be too late
to plant the necessary crops.
"Should the foreign situation not
improve materially then financial
America must provide the machinery
| for carrying the surplus temporarily
and prevent decentralization in values.
/ The demand cannot be long delayed
if the needs CT the world are to be
/ properly supplied. Today crops may
be both planted and financed on a
materially 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 rugged
hope in their hearts-through con-
; tlnuCd sympathy and cooperation as
siSt them over the rough places. Many
Of them are discouraged and discon-
solate as they review ne losses of the
last two years. They must be stimu-
! lated to look forward not backward
and the banker must help bridge the
gulf between the dishe artening past
and the promising future.
"They still need the bankers active
s@pport he needs their energy anC
,.Oility to create new wealth if hi
loans to merchant and lawyer, doctor
and school teacher, manufacturer and
the ia 'mer himself, are to be liqui-
dated
'As in the immediate past, display
confidence in those who have showl
their willingness to work and thei,
ability to create-once more assist
them il financingN their needs Gol
seed fertiliZer-implement If we
are to press forward successfully
agriculture must not be allowed to be
come demoralized.
''For forty years the South's crops
were financed when the average farm
cr's only collateral was his character
and his chattel mortgage. This col
lateral is still available-make use of
it. His success is national prosperity.
put the American farmer on his
feet, not through paternalistic legis
lation or specious nostrums he
neither wants nor needs charity-bu'
through the application of old-fash-
joncd common sense American bank
ing and business principles.
Again on his feet, he will stand
unsupported and as he stands will
American business be renewed ir
strength and activity and American
labor find new fields for employment
"Then shall we see the dawn of the
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