Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1922-01-24
AGRICULTURE IN
URGENT NEED OF
FINANCIAL AID
Continued from Page onel


to sacrifice growing crops or un
finished livestock. Obviously tn
farmer needs to have provisions
adapted to his requirements, 70
extension of credit to produce hi
working capital"
Present Crisis.
The president said that econ,
corning the grim reality of tht
present crisis in agriculture there
can be no differences of opinion
among informed people"
"The depressions and discour.
agements," he continued, "are moi
peculiar to agriculture and ]
think it fair to say there could
have been no avoidance of a
great slump from war time ex-
| cesses to the hardships OF read
| justment. We can have no helpful
understanding by assuming agri-
culture alone, but we may fairly
recognize the fundamental differ
ences which accentuate the agri-
culture discouragements and men
ace the healthful life of this basic
and absolutely necessary indus
try"
The farmer, he declared, from
the very mode of his life is indi-
vidualistic and, therefore, "be-
cause he buys and sells as an In
dividual it is his fate to buy in
the dearest and sell in the cheap
est markets" He contrasted with
this the corporation, he said,
which could effect economies and
acquire power in the markets by
combinations.
The president said there was
misconception regarding the fl
nancial status of agriculture.
'If the mortgage Indebtedness
Of farms shows. over O given pc
riod, a marked tendency to in
crease. the fact becomes occasion
for concern" he said. "If. during
the same period, the railroads or
the great industries controlled by
corporations find themselves able
to increase their mortgage indebt-
edneas by dint OF bond issues the
fact is heralded as evidence of
better business conditions and of
capitals increased willingness to
engage In these industries and
thus inspire larger production and
increase employment of labor. Both
the mechanism of finance and the
pre- conceptions of the commu-
nifty are united in creating the
impression that easy access to
ample capital is a disadvantage
to the farmer, and an evidence |
Of his decay in prosperity; while
precisely the same circumstances |
are construed, in other industries, |
as evidence of prosperity and Of
desirable business expansion"
Must Help Himself.
at cannot be too strongly
urged that the farmer must be
ready to help himself" he added
This conference would do most
lasting good if it would find ways
to impress the greatest mass of
farmers to avail themselves of
The best methods. BY this | mean
hat, in the last analysis, legisla-
lion can do little more than give
he farmer the choice to organize
and help himself"
He then referred to cooperative
1t should be possible |
to afford to the farmers, he said.
ample provision Of law under
which they may carry on in CO.
operative fashion those business
operations which lend themselves
o that method, and which, thus
landed would bring advantages to
10Th the farmer and the consum-
ng public"
"The farmers" he continued.
must be responsible for doing
he rest and must themselves
earn organization and the prac-
ical proceedings of cooperation.
Lack of essential informa ion,
dr, Harding asserted, was one OF
he most serious obstacles to
roper balancing of agriculture
All too frequently. he
aid, such information is gathered
" private interests, whose con-
:ern is to profit rather than the
General good.
proper financial support for
and with instrumental
ties for the collection and dissem-
nation of useful information" he
.dded, "a group of cooperative
organizations would be
bile to advise their members as 10
he probable demand for staples,
nd to propose measures for prop
r limitation of acreages In partic-
liar crops. The certainty that
UGH scientific distribution OF pro-
Iuction was to be observed, would |
trengthen the credit of agricul-
ure and increase the security on
which financial advances could be
made to 1t. The disastrous effects
which arise from overproduction
re notorious. -
Interest of Consumer.
at Is apparent that the interest
4 the consumer, quite equally with
hat of the producer. demands
measures to prevent these violent
which result from I'M
and haphazard produce
ion. Indeed the statistics Of this
ntire subject clearly demonstrate
hat the consumers concern for
letter stabilized conditions is quite
quail to that of the producer. The
armer does not demand special
to the disadvantage
f any other class; he asks only
or that consideration which shall
lace his vital industry on par
ty of opportunity with others and
nable 1t to serve the broadest in
crest"
Turning TO the subject of trans
'ortation, the president said that II
road visioned craftsmanship shall
stablish fundamentally sound
olicies toward transportation, the
resent crisis will one day be re-
arded as a piece of good fortune
0 the nation.
ITO this time railroad construc-
lon, financing and operation" he
dded. "have been unscientific and
evoid of proper consideration for
he wider concerns of the COM
lunity. To say this ia simply to
Omit fact which applies to prac-
ically every railroad system in the
yorld."
Waterways Neglected.
Waterways have been too long
eglected in America, he declared,
dding that 1--WE need practical
o |