The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-12-31
CONGRESS READY
TO AID FARMERS
Solons Accept Visit of
Producers as Demand
for Better Laws
LEGISLATION ASSURED
Lenroot Bill VIII Provide
That American Farmer Can
Get Money to Garry On"
By BASCOM ~ TIMMONs.
worlds Warrington Correspondent.


WASHINGTON. Dec. 3o.--Mcm
bcrs OF congress Who make 10 their
business 70 find what Is back OF ,cach
movements brought 20 their attention
today had reHched tho conclusion
that the conference of the National
Council OF Farmers CO-OpcratVo
Marketing association here last
week was about the most important
grange meeting over held.
The reason for this Is that this
council represent marketing assoc
Citations with a million membcrs--
n million men who are In aRreemen!
TO hold their products until they
can get a fair price TOR them.
The National Council Of Farmers
Cooperative associations represent
organization and organization can
always command the attention Of
congress or OF any one else.
The result Is that all og the coun-
cil's demands the priucipal one Of
which was the LonroOt bill proyld-
ing for farm credits departments IN
farm loan hanks, win with some
slight changes, be written into law
within the next ycnr--the Lenrout
bill win probably bc In time for
farmers 20 take advantage OF Il
during planting time next spring.
Eight SoOners Ia Delegation.
Oklahoma delegates who attended
the council included
Walter Colbert. Ardmorc, Okla
hnma Cotton Growers association;
s X, 9. Kennedy, American Cotton
Growers exchange. Pauls Valley, H..
a. McCauley. president 3apuipa
state bank, Sapulpa. =. n. McQuis-
ton, county farm agent. Livestock as
socintion OF oklahoma, Pawhuska;
G. l.. Stoaley, general manager
oklahoma Cotton Growers nssocia-
ton, Oklahoma CITY. w, +. Walker,
Wheat Growers association, Hollis
ton; Carl'Williams, president Amer
Jean Cotton Growers exchange Okla
homa city; Fred Wilmarth, director
of publicity oklahoma Cotton Grow
ers association. Oklahoma City.
The principal legislative demands
OF the co-operatlves were:
/. That this national council an
naunces n general policy that the
primary reliance of tho farmer for
credits for production, or for mar
koting. should be upon the local
banker and that under normal con-
ditions the local banker ia likely
TO meet the greater part OF such
needs.
?. That the federal reserve sys-
TEN should be modified so as to
meet the special requirements OF
farm credits and TO permit the r.
nancing of farmers and farmers
cooperative marketing associations
conveniently ana efficiently through
normal banking clT%-nela.
Maximum Extension of Farm Credit.
That such notifications involve
primarily the extension Of the ma
fturity OF agricultural paper To
maximum limit OF nine months, with
the fixing OF cooperative market
ing for loans on such agricultural
paper to any one cooperative mar
keting association TO be fixed as 80
per cont OF the capital ana surplus
OF banks. members OF the federal
reserve system, subject TO the state
laws wherever applicable, and that
encouragement and inducement bc
made TO hGve more state banks exer-
else the privilege OF momhership IN
the federal reserve system
3. That adequate opportunity he
presented for tho creation OF agrl4
cultural credit corporations with
sufficient minimum capital TO pur-
chase or discount ordinary agricul-
ltural paper with a maximum ma
turity paper OF nine months and
livestock paper with a maturity OF
not more than three years, with re-
discount corporations adequately
capitalized to purchase such paper
from agricultural credit corpora
tions with the privilege OF redls-
counting any such paper, with its
Endorsement, through federal re-
serve system.
Increase Total Sum To he Loaned.
t. That the maximum basis OF
loans from farl9 land hasnks be
raised from $4,000 to $4,000.
s. That a farm credit department
in tho federal land banks be set up
in each OF the land banks with a