The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-02-26
Financier Sees Error
In Letting Farm Bloc
Succeed in Its Policy

wants 20 do anything, let II put
minimum price on the formers prod
ucts. II that price be high enough
40 that the farmer who In n good
manager can live. pay his interest
and reduce his principal each year,
but not 80 high that II will work
hardship on tho consumer
The agricultural bloc and this in
dividual. while divided as TO methods
are after all In agreement that spo-
Cial laws should be enacted In tho
interest OF farmers as n class The
error In each case lH fundamental ana
lies IN this. That the funds of every
other class are expected 10 be drawn
on especially to prosper one single
class.
Running to Congress.
ut Is this error which ought to
stand In the way OF the enactment
OF anv laws which prefer the claim
OF special class over the clalmA of
all others. This statement Of course
does not apply solely to agriculture;
the readiness with which legislators
at Washington have rallied To over
come, by enactment, the plight of
agriculture, has not failed In its of.
feet on other Industries. and pro-
duCers OF coal and other raw mate
rails suffering from low prices and
narrow markets, manufacturers I'm
fear OF foreign competition, export
ers with their trade opportunities
paralyzcd, ship opoUptors with idle
boats. oN-soldiers o6t OF work--all
are now making out strong cases Tor
government assistance.
THE war left many evils in It's
wake, and we are finding that not
the least of them is m inclination to
call for special legislative help. In
every emergency, which stands Ia
sharp contrast TO the rugged Amori-
can independence OF other years.
Legislation for the benefit of certain
essential Industries was considered
Imperative during the war. II vlolnt-
ed foundntional economic laws and
its defense was solely that II met an
emergency IN which tho llfo OF the
nation was AT stake. Tho life of tho
nation IN not threatened now, but
because n great number OF people
see In congress a possible miraculous
power to overcome their present dis
trcss. whatever It's cause, legislation
is s-dcmanded, and the demands are
powerfully supported. to reinjcct the
government into business.
Every student Of political history
will agree that n renewal on n large
scale of the wartime Interference
with economic forces would only
postpone the restoration OF "a normal
condition In agriculture. industry.
trade and finance. draw out the
period OF rcadJustmcnt and intensity
the pain that IL an inevitable part OF
readjustment IL In not only that
IRf fala In laH n, i,.a M tRl
vldual class for special privileges
while denying them to other classes
IN unsound az an economic principle,
bat II IL dangerous politically as well
For II the policy were to be adopted
that any special class should now
be singled out for special privileges,
II would only follow In time that the
principle would have to 10 adopted
for other classes.
Basic Economic Laws.
mo solutions for economic trou-
bles VIII over permanently succeed
that are not In agreement with basic
economic laws. Help for present
conditions. In respect TO the farmer
and every other worker lies In
speedy alignment OF the wages and
prices which are now out Of line
with the general level. in reduction
of taxation and In restoration OF
sound conditions OF finance.
For the farmer in particular. the
schemes for cooperative marketing
and for facilitating the Investment OF
capital on the farm, together with
better transportation. Will contribute
immensely TO improve conditions
The thought needs to bo kept con
stantly Ia mind that underlying
every disturbance at home is the dis
turhed state OF the world at large.
II Is only as we view tho plight OF
the American farmer, manufacture
or, merchant and workman In It's
largest aspect. as part OF world
condition. that we keep our true
sense of relation; II is only thus
that we find n starting point for
wording toward the proper remedies.
"If the problem Is thought out 60
Its logical conclusion, long time in
ternational credit will be seen To be
basically more necessary today than
longtime farmers credit. Long
time international credit would help
chiefly to move the crops, while
farmers credit might for n time, at
least. help chiefly to hold them. No
matter how far our home mechanism
may be perfected in production,
transportation and marketing, Il still
remains that until we find way 20
sell our surplus products, we shall
miss the big factor leading to re-
stored prosperity"
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