The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-05-12
Senate "BIoc" "
Backing Farm
Credit Plans
By DAVID LAWRENCE
,Co?y:.-%; - The lu;eNSenceD

Washington May t.. The farm n'"'
'n no Jn.tci states ~"nNt' after q,
p. rood @; ,n:rp,rA;tN" Q"-'t mas .n:n"
.n,> 20 l:tr. Tho iirSt m"";u7S OF tAe
group ~.H,e The rcsiS"Au"" az ScnAS"t
h.,y,u has yuSt been he'd Nnd"r NhS
,.a,rruInShsp Of senator tapper. "t
Kansas. Insisting tha; their PURPOSES
NS,,rr non partisan ard So,t - - ''N'' /
i@r aSr'cu,tural interests o; '.' ,..,., GHM,,,
~. twelve i;"TU3.'sIDS ana eleven
democrats attended jhc meeting ana rA-
drAvorvd 70 reach an aErcrm'nt On a
a!i, which would r"orSan;Z" the iATm
credit avhiucry OF the nation.
The Eroup decided upon IT," appoint
rucnt u: 4 committee Of seven I" exam
IN, tn" hAlE dozen h;N> now H"ndinE II
congress With 4 View 70 "rrhI"E "u' y
satisfactory compromises Irart'''. /!
,Nrry farm interest was represented n;
the meeting There were r"prcs'h h'i-
rtlcS oI the National orange. the FNE'"-
cr, Eureau the Farmers National C"Un-
al, conservatives and radicals dIIN'
Eugene Meyer. Jr.. managing editor CT
pr"mlnrnt part IN the discussion.
Tho move Is t-aught wiki Er"at g
rtticanre. senator t1ppcr tod th!S ''r.
~"SYundrat to-day ;EHt = Conlmltt""
lvr American Bankers Association :dN-
utci the pan OF - new cre;!i system '.'F
,N" farmers and StncNmrU. and th't
President NtCdl"G Was taE0rLHIy G'S-
;.r~c4 70 the I!"H
Blow at hddleunah
R-ietly the aim q: AL he bills Is 20
enable the farmer ~ market h'N rr'Hs
without depending upon IN" m,tdI"UHn n
and without permitting the sH' .si|'o'S
and uthrr Intervening !at"r' - =" f.'He
ldyantaSe Of the taTUc"~ iinin "tiAte
ICED Tor credit 70 pay H. n!un'N d-y
,bi:Eatluu. The desire OF Ia" !!r!R h.Or
IS TO establish III America u 'I"4it SES-
'"Is with SIX months Or mnc" A. me
.vnEth OF their credit obligations. Tn"
ftlf h,FN hts =
forming In the last Two Years many g;
;hc functions which Il VIII b" expected
;hlt the farm cCedlt system would en-
brace Mr.. Meyer n hLS report TO the
rr"SiiHUt recently recommended the dis
continuance OF ;he war t.nanrc corpora
lur ur"u the substitution oS 4 plan that
would take INTO consideration the vary
uE CREDIT needs OF the farmer and Sto' r
i:I,n. SEn,lior Capper has introduced =
nill along the Lines proposed by NJ"
Rut the etcor, OF the farm bloc vii. h.
10 harmonic all the bills such aS tho~''
introduced 0y Mr. l.ruroOt in n" S..n1'''
and Mr.. Anderson IN the house o; r"N-
r-@eutAtivcS and aUrh proposals a. h''E'
been made BY senators simmons. OF
North carolina. ana NorbcCH, OF Mort"
nrnntJ and u.rGd ,hsn INTO i :;,' r';'' "a
!"E i.Lu that w:u encompass eve!
use Land Bank System
The tcCIeUC! Is 20 use tur cN.~'!i'
farm land hI"h system and "A'"ud g.
s.'.N,r>. " present tacS" twelve ''.-
= iona. banks make .OaU~ on t;IuI on,
av' he proposed ."S:N.tt."" wuH.d "r-
able them E" !>>u" .utu- IN th' BASS
rt commodities such - grain '";t"'.
aui .,yc stock and other products a.: IA"
yaaca Ir4 t,riU. TIA" g"t''""cnt woui!
~,ar; the bal. rolling w!;h an advance
~ a hundred million dollars ih"u-A
s:":r" estimates run AS high a. -" hun
Urrd millions and th-H ;.C E"N' rH:!':.i
Nr-.u :.u,tt farm bonds as = bass 90.
,'rrd!J and thus obtain ;y"r" S'u1., .u'",
tots throughout n" CuUui~! a." mon y
.,.,r"wtth 20 finance III, .rup~ "i ih
nation. Tkc farm loan hUu%S now uu
s.,.c are r,tlCaiDG u good ;%ir uf NOR
..t and ar" selling remarkably w".. No
t1r uErIru,tG-I.S;S 5cil.r" N" bonds
e., b" i,u,tt,G later would &c %u;'hI"d ur
Us u >plyrt!d investment.
The Present System
1de- the i.""S'"t s.: I'm tho thrUlcr
h"rrowS on ninety dHy basis from ta"
AaA> and must dispose "t his crop,
V"rN.T ~ ct mon"| - rIE "iS "ot''
tir dumps his wars on tn market Int
;hus drprer;Ate, has price. MrauWh''
IN" spectators LUd elevator OWN.
\ 10 t,,hr n" farmers products hU,d 90
..luc for nIGh prices and thiS Sp"rU,u.
":-h"c The farmer want, t:.r mar II
;n~ "lm>r.t and believes h" should h'
@t'"" credit on i parity wa ~" ~p" u
.,;"r "r elevator owner wu" - = y from
'., lily uauA.
~ senator Cappc- expressed I 80.
t.,.. n" present banking system N.,% 'j',
..."d 10 'GruiSn credit e." th' mru.i:.r.-
;r.rrr and merchants Hh.rh h.- It "a. -.
'..ru "yec. For thtt PURPOSE nia'i} "tE
'r'dIts are ~Util' l"u' "Ut '"r L. 'dr1. .
md rat' :.' r,tts"r q IDTG'- p'ri''U. - 'r'n
,~HarY for h" doesn't ''.rU "''~ h.- ,r''i.,
-" oU.cAGy or a. '.I>; "nu.d rr"i"r ="
u."s" his products U"r" ia hr-m""l
'''1 '.s' supply f ,r"'i',
W. shall continue q, N' 'n~. .,., =!