South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-03-09
SEN. GAPPER CITES
BENEFITS SOLONS
WIN FOR FARMERS
Agricultural Bloc Leader Tells
What Congress Has Done
for Relief.

WASHINGTON. March S. The
outstanding achievement in this
congress i'm constructive legislation
has been its great work for agri-
culture il has laid a new and firm
foundation for national prosperity.
No doubt mistakes have been made
and there is a great deal yet to be
done. hut no like amount of i'm
portant legislation beneficial to the
farming industry and therefore to
the national welfare. has. i'm my es-
timation, ever been accomplished
by any preceding congress in such
"a short time.
Pres't Harding : sympathetic at
titude toward the farmer and stock
man has been of great help When
the new president and the new con
ton last March the farming industry
was on the verge of collapse While
the crisis has not been passed the
emergency could scarcely have been
more promptly met by legislation
As "A result we have these new laws
for the rehabilitation of the farming
industry. several OF them epochaI
and others yet 10 come. They are:
The billion-dollar farm export
credit measure.
Grain Exchanges Regulated.
The Cappcr-Tincher Future Trad
ing bill for the regulation of the
thirteen great grain exchanges by a
board comprising the secretary OF
agriculture, the secretary of COM
merce and the attorney general
The act placing the control Of the
packing industry and stockyards un-
der supervision of the secretary Of
agriculture.
The agricultural emergency tariff
bill, which undoubtedly is helping
farmers at this moment
The Kenyon bill, increasing the
interest rates ON bonds of the Farm
Loan banks from TO ID per cent.
with no increase IN the loan rate to
farmers. making il possible 10 sell
these bonds i'm competition with
other securities.
The Curtis bill appropriating
S25.O0O.OOO as a revolving fund for
the Federal Farm Loan banks.
Some Taxation Removed.
Some Of the burdens OF taxation
have been removed from the shout
ders Of farmers by the new revenue
law. The exemption for a married
man has been raised from $4,000
20 $4,000 and the exemption for a
dependent has been increased from
$500 10 $500 The wealthy corpora
tons and individuals. who sought TO
shift still more OF the burden OF war
taxes 20 the shoulders Of those least
able TO pay did not succeed con.
gress refused TO cut radically the
rate on big incomes. holding that the
greater the income the more able the
recipient is 10 pay bigger lax.
Under the new tax law 100000
little homes in the United States will
Immediately be relieved from further
payment Of any income taxes. Thou
sands OF other families OF small
means viii receive a reduction OF 30
per cent in their income tax rate.
instead OF reducing the maximum
surtax on big incomes from SIS 10 81
per cent as demanded by big bust
ness. Congress set the high limit at
IS
Savings from Armament.
Out of the conference on disarm-
ament. called 10y Pres't Harding. viii
come saving Of billions OF dol
lars. which Will help every nation 10
climb bac6-from the financial and
economic depths into which 10 fell
during the World war
This program for lettering the &C.
Cnomic condition OF the farming in
dustry and putting il on an equal
footing with organized industry and
business. and reducing the burdens
OF taxation. has met with bitter op-
position from Wall street business
men and eastern newspapers.
But. I believe that the administra-
ton fully realizes that the farmer
has been made the goat and that he
must be given a square deal If he is
90 come back and make his vital
contribution TO the prosperity OF the
nation.
Swank Dyes Clothes Main 591