Wausau pilot. [volume] (Wausau, Wis.) 1896-1940, 1922-01-26
PRESIDENT BACKS
WATERWAY PLAN
Harding Tells Farm Meeting
Great Lakes Project Is
Feasible.
SAYS FARMER MUST Be AIDED
Points Need to Machinery to Furnish
Working Capital to Farmer Easily
and Quickly--u. S. Must
Meet Present Crisis.


Meet Present Crisis.
j Washington, Jan. 24.-Feasibility Of
the st. Lawrence-Great Lakes water
ways project lis unquestioned," Presi-
dent Harding declared before the ma
tional agricultural conference.
II have spoken" the President said,
"of the advantage which Europe en-
boys because of its easy access to the
sea, the cheapest and surest trans
portation facility. In our own coun-
try is presented one of the worlds
most attractive opportunities for ex-
tension of the seaways many hundreds
miles inland
.The heart of the continent, with its
vast resources in both agriculture and
industry, would be brought in COM
munication with all the ocean routes
! by the execution of the ST. Lawrence
waterways project. To enable ocean
going vessels to have access to all the
ports of the Great Lakes would have
a most stimulating effect upon the in
dustrial life of the continents interior.
Feasibility of Plan unquestioned.
1.-THE feasibility of the project is I'M
questioned and its costs, compared
with some other great engineering
works, would be small. Disorganized
and PROSTATE, the nations of central
Europe are even now setting their
hands to the development of a great
continental waterway, which, connect
ing the Rhine and Danube, will bring
water transportation from the Black to
the North sea, from Mediterranean to
Baltic.
IF nationalistic prejudice and eco
monte difficulties can be overcome by
/ Europe they certainly should not be
formidable obstacles to an achievement
less expensive and giving promise of
vet greater advantages to the peoples
of North America. Not only would the
cost of transportation be greatly re-
duced, bat vast population would be
brought overnight in immediate touch
with the markets of the entire world"
Delegates from all sections of the
country representing agriculture and
industries dependent on it assembled
here today for the opening of the ma
tionaI conference called to consider
the present situation confronting the
farmer. and to lay down permanent
agricultural policy.
Must Finance the Farmer.
Development of thorough code OF
law and business procedure. with the
proper machinery of finance to assure
1.-THE farmer as generous a supply of
working capital on as reasonable terms
as is granted to other industries, was
advocated by President Harding in his
address.
IAN industry" the President said
"more vital than any other, in which
nearly half the nations wealth is in
vested can be relied upon for good Sc
curity and certain returns"
Declaring that in the matter of
what may be called fixed investment
capital the disadvantage of the farm
er so impressed public opinion that the
federal farm loan board was estab.
lished to meet the need. the President
said the farmer needed some pro-
vision for supplying him with working
capital.
EASY Access to Capital" Barred.
Compared with other industries" he
continued, "the wonder Is that agri
i culture, thus deprived of easy access
to both investment and accommodation
capital has prospered even so well"
| trb fir,a ;aI
of agriculture may be organized. Mr.
Harding said, are suggested in the
plan OF the federal farm LOAF hoard
and in the rural finance societies which
have been so effective in some Euro
pean countries.
Il 'sThe cooperative loaning associa.
tions of Europe have been effective
Incentives to united action by farmers >
he continued land have led them
directly into cooperation in both pro
duction and marketing which have con.
tributed greatly to the sterilization
and prosperity of agriculture"
\ Whether these organizations are con.
sidered as means to buying the farm.
ers' requirements in a cheaper market
the President asserted, or to selling his
products in a more remunerative one
"the conclusion In all cases Is the
same; 1t is that the farmer is as good
q business man as any other II he has
the chance"
i The manufacturer. Mr. Harding said
whose turnover is rapid. finds he can
borrow money from the bank on short.
time notes when he needs working cap
ital, and his money will come back to
him in time to meet his short-term OBJ.
legation. On the other hand. he con.
tinued, the farmers turnover Is long
one; from year in most crops to
sometimes three years in the cattle In.
dustry.
Eaunre Millerta C0nfirra