The Bottineau courant. (Bottineau, Bottineau County, N.D.) 1895-1929, 1922-12-07
DIR. LADD'S WEEKLY LETTER

DIR. LADD'S WEEKLY LETTER
Continued from page y
70 the front in the enactment of the
Federal Reserve Act, and who trans
lated on to paper and defended, the
Ideas promulgated by Paul M. War
burg.
There are a few others on this COM
mlttee about whom I have no special
information.
1t seems to me, Nh. President, that
anyone who had given any serious
study to economic conditions in this
country would find no hesitancy in
reaching the conclusion that this Com
mlttee on Program and Arrangements
with the possible exception Of a few
who might be mingled in for trim
mlngs") is constituted of minds en-
tlrely in accordance with the banking
interests. Any program arranged bv
tAls committee for the discussion of
"lhe Money Problem" would natur-
ally be arranged with a viewpoint of
developing the ideas of the big bank
ers. liner is one satisfactory and in
terestlng observation, however, and
that is that the bankers themselves
realize that there is a money problem
up Tor discussion In this country. They
are not dilatory in their preparation
TO meet it, but seem to be feverishlv
trying to direct it into channels of
which they approve. In view of the
statement of the bankers upon the
conclusion of the recent meeting of
the American Bankers Association.
held in New York City, the bankers
were ready to lead the people, it is
not improper to presume that this
conference to be held this week is but
n of their bids for leadership.
There is, however, Mr.. President,
one particular phase of this proposed
conference that is of particular inter-
est at this time, and it is for that rea-
son that am taking this opportunity
to discuss it. | refer to the Third Ses-
Sion of the conference, to be held Fri
day afternoon at 2:3O P. M. in the
North Ball Room of Hotel Astor, and
the topic for discussion will be: "The
Agricultural Credit Problem" One
would not expect to hear much of the
language of the real dirt farmer amid
the splendors of the North Ball Room,
especially when those who gather
around the board possess such illus
trlous financial antecedents and con-
hectlons. 1t is, of course, not contend
ed that the big banking interests of
the country do not have a right to
gather in such a discussion, but those
who have the real interests of the
farmer at heart also have the right
to warn him against accepting such
advocates for their leadership.
Saving the Farmer for the Banks
Let US notice for a moment the pro-
gram for this third session: 1t is to be
presided over by Edwin R. A. Selig-
man, already referred to. The program
is as follows:
l. Introductory address of the pre-
siding officer.
z. Agricultural Financing, Eugene
Meyer, Jr. Managing Director, Wal
Finance Corporation, Washington, D.
C..
Sydney Anderson, public business
permitting, Congressman from Mime
sofa, Chairman, Joint Commission on
Agricultural Inquiry.
z Foil in q rr;o,1+.~1 D.zz- 1-
and Remedies.
George E. Roberts, Vice-president,
National City Bank, New York City.
4. Should the Farmer have Addi-
tional Credits to Enable Him to Hold
His Crops for Better Prices Jesse
E Pope, Washington, D. C.
5. Discussion.
Thomas P Gore, Former United
States Senator from Oklahoma. Every
cloud has a silver lining and in this
connection we are heartened that the
name of former Senator Gore appears
among the galaxy of i~ntellectuals on
the program. W. are glad to learn
that the farmers will have a friend in
court and that their cause will be bet
ter and ore favorably known because
of his presence at the conference.
Warburg, Seligman and Farmers
Mr.. President, according to that
eminent authority on big financiers,
Mr.. B. c. Forbes, in his book, "Men
Who are Making America" at page
403, it was in the home of Edwin r.
A. Seligman where the decision was
made that Paul M. Warburg should
publish his views Oh the GENITAL Bank
idea and that the propaganda should
be started for the purpose of writing
INTO our laws a financial system based
upon the Central Bank idea as the
ideal corner stone. This decision was
made at a time when the country was
IN the thrses of the financial strin-
gency of 1907, and when the people
were declaiming against the money
power centralized in Wall Strickland
whose ideas were to be pdt forth as
the basis for the new currency sys-
tenn? Those of Paul M. Warburg, a
descendent of International bankers,
schooled and trained for an interna-
tional banker, imported from Germany
for the purpose of giving expression
to the evolution of the international
bankers idea of "a currency system,
and a man who having come here in
1902 and become a member of that
powerful firm of International bank
ers-Kuhn, Loeb & Co.-did not file