Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-21
TELLS
CHICAGOANSOF
HOOSlER HOPES
Informs Illinois Bankers Tax
Exempt Securities Pro
vide Dangers.


the Lasalle Hotel here last night Gov
ernor Warren T. McCray of indiana
characterized the tax exempt securities
as tone Of the most serious dangers
which is confronting the country" The
Governor advocated the return Of these
securities to the list of. taxables rather
than allow them to go untaxed.
This, he said would place the money
which is now being put into nOutaxables
into the business feld and would go
a long way IN solving the present busi-
ness depression confronting the United
States.
Speaking Of the present crisis in the
agricultural districts Governor McCray
said he would leave for washington to-
night. where he hoped that he would be
able to interest the Government in ex-
tending aid to the banks of Indiana
and Illinois so that they would relieve
re present crisis in the agricultural dis
tricts
FAYORs AID
FOR AGRICULTURE e
Agriculture is the basis of our ma
tionaI prosperity" he said when
agriculture is suffering, all other indus
tries suffer. This is particularly true
in Indiana and Illinois, where our prin-
cipaI products are corn and oats. Dur
ing the war we were urged to do all
that we could TO increase production,
and we bent every energy and made
every effort to increase production and
insure plenty Of food for our brave
boys who were fighting so valiantly for
our nations honor and security. In
response to this cali thousands of acres
Of grass lands were plOwed and put
into crops and the increased supply
continued until It commenced to over
lap from year to year. At the same
time the demand commenced to slacken
both at home and abroad with the re-
suit that today we have a large surplus
on hand.
FOR some time I have believed that
the farmer could be helped by the Gov
eminent in two ways. First, By ex-
tending additional credit to the existing
banks TO enable them to carry the
farmers over until they can sell their
corn to a market which would give them
fair and equitable price. Second,
to create a market abroad, by prodgc-
ing some method whereby the nations
which are IN need Of food products
could be supplied on a credit basis. The
banks Of most of the needy States have
taken advantage Of this offer IN the
most liberal way. Indiana and Hi
nois have not made much use Of this
form Of financing which might mean
either that the banks are able to take
care OF the situation without outside
help or that they are not willing 10
further extend credit to their already
extended debtors.
u an advised that the hsrkeIs Of
Illinois are as enthusiastically behind
the goods roSis movement as they are
in Indiana. In Indiana we are laying
out a road building program that will
eventually give Us a road system Of
about 400 miles, connecting every couR-
" seat and every town with more than
: COO inhabitants in the State It is
the policy OF the present administration
that at least 20 per cent of this mileage
shall be built Of native materlaIs-stone
and gravel.
Indiana IS singularly blessed with
an abundance Of these materials. and
there is $, rcely 4 county which does
not contain deposits Of these splen-
did material
al am not advocating rock or gravel
roads where the traffic is extraordi-
narily heavy. but out of our $500 miles
of state roads I believe that at least
+f.iUf lulAGS Gan Ht 4tAiuE "a tAAE N4cdArA
type of construction and at the same
time give US a road that, when main,
tanned properly by a patrol system, viii
be perfectly satisfactory. II this theory
IS correct the savings TO taxpayers on
; OOO miles viii be between 5000 600 and
s.. O0O. 900 annually to say nothing about
the tax which would be necessarily laid
upon this succeeding generation
HEAVY TYPE TEST
NOT COMPLETED.
There is another good reason for
the adoption Of such a program as we
have. wherever practical, and that is
the uncertainty Of the serviceable duraA
tion of the roads built at a heavy cost.
There can be no doubt but what a
rock or gravel road. properly kept up,
will he a better road at the end OF a
twenty-year period than It was at its
beginning, but what win be our expe-
rience with roads of some other type
OF construction Is yet to be determined
the Governor said
Last night was Indiana night" at the
meeting of the association and Governor
McCray was the principal speaker.