Evening star., 1922-12-12
FARM CREDITS BILL .
/ RUSHED IN SENATE
Legislation in Hands of Com.
+, mittees Urged by Agri-
= cultural Bloc.
MAY DISPLACE SUBSIDY
Borah Proposal and Lenroot-Ander-
son Measure Observation-Disclosures
tratieu's Idea Supported.

With two Senate committees giving
consideration to farm credits legisla-
ION. and the farm bloc organized be-
and the proposal. this legislation has
-eceived an impetus that promises to
bring it before the Senate in the
shape of a bill in short time.
In fact. it is believed that an effort
will be made by the supporters OF the
farm credits legislation to have the
Senate displace the administration
merchant marine bill and take up the
farm credits measure. The opponents
of the shipping bill are to be found
in the farm bloc and among the
democrats. If they should unite they
might we'll succeed i'm sidetracking g
the ship bill. which would mean its
ultimate failure.
Hearings by Two Committees.
The Senate banking and currency
riculture have undertaken hearings
on the question of farm credits. The
farm bloc met last night on the sub
ject.
Bipartisan support for major fea-
lures of administration recommends
tions to expand credit OF farmers
was Indicate Bloc Endorsement.
mea ming that of democratic as well
as republican members. for important
features of the Lenroot-Anderson bill.
which had the approval of admins
tration officials. was said to be prom
tsed. Democratic members of the
bloc said that President Harding and
the administration had come around
and given their support to the credit
.
bipartisan agricultural group.
The banking committee began
hearings today on the Lenroot-.i l.
derson and other credit bills. and the
with hearings on other credit phases.
The agriculture committee yesterday
heard Senator-elcct Frazier. repub-
iican. North Dakota. who told of the
reed of farmers for credit and other
aid. and for several days western
delegations representing agricultural
interests are to give testimony.
Bills Under Consideration.
Among the bills to be taken up
by the Senate banking committee.
possibly for incorporation in an om-
uibus credit measure. is that of Sem
ator Borah. republican. Idaho. to
limit the profits of joint stock land
banks to per cent. the committee
also has before it other bills to re-
peal tax exemption privileges of such
banks. whose continuance has been
questioned by Secretary Mellon as
of doubtful value.
While the trend at last nights meet
ing of the farm bloc was said to be
toward the Lenroot-Anderson bill
which would utilize the federal farm
loan system as a basis for extending
agricultural credits. division of opin-
ion prevented final action. and an
other meeting of the bloc will be held
tonight: Senators Lenroot. republican.
Wisconsin,: Ladd, republican, North
Dakota: Simmons. democrat, North
Carolina, and Norbeck, republican.
South Dakota. addressed the bloc in
behalf of their respective bills.
Variance Of Views.
The farm credits subcommittee of
the bloc presented a report support
ing the Lenroot-Anderson bill. Sem
etors Ladd and Simmons, however,
favored legislation to set up a dis
tinct farm credit agency. and opposed
the Lenroet- Anderson plan of estab
fishing banks under the farm loan
board. The Norbeck plan of using the
War Finance Corporation as credit
agency also had some support. A
number of democrats were said to
favor the Lenroot-Andefson plan:
Despite the differences of opinion
within the bloc. 1t was said there
were prospects for an agreement at
tonight'S meeting.