The New York herald., 1922-02-14

| faster than the expenditures of the Gov
\ ernment are decreasing
THAT is literally true. The sources OF
taxation are becoming dry. From
whence are we to draw the increase in
| the taxes? Our expenditures In Gov
ernment affairs increased faster than
the sources of taxation increased. Said
the Secretary further:
1.-The bonus bill would impose an ad-
ditional burden of from $3,330, 1000 to
S. 535o. 100000 and 1t is impossible to meet
the bonus bill without providing for ad-
ditional taxes with which to meet it.
"I quote now his exact language:
1T would be dangerous in the ex-
treme to attempt to finance the expendi-
lures involved in the bonus through
new borrowings The position of the
Treasury remains unchanged
$50 far. therefore, as the Treasury Is
concerned. the barometer by which to
test the situation, the Secretary advises
us that it remains unchanged from the
18th day Of July, 1921. 1t would seem
that ordinary prudence upon the part of
Congress would require a presentation
OF new set Of circumstances and con-
dtions upon which to found the legisla-
tion, Congress having at one time re-
fused it because of conditions which
we're less menacing then than they are
at the present time.
Taxpayer Reaches Limit.
"I think, that the taxpayer of the
country is carrying about all he can
carry and what Is of more significance
to me than the mere fact that economi-
cally and financially his resources are
being exhausted. I suggest that his
patience is being exhausted. 1t Is
very dangerous situation when the pa
tience of people with its government
has reached its limit.
Let us look at the agriculturalf con-
dition of the country as compared with
the time when the President spoke in
July. 1921. I think there is nothing
more serious In this country than the
agricultural condition. It Is a condi-
tion which has been growing toward It's
present situation for years, but 1t has
been tremendously accumulated ny what
has happened during the last several
years. particularly since the close of war.
I'VE have known for years that there
was hegira going on from the farm
tc the city, that vast acreages through
out the country were being abandoned,
that farms were being abandoned, that
large portion of the agricultural popu-
lation had given up the struggle upon
the farm and gone to the city to work
for wages. that congested centers have
received those who ought to be out pro-
ducing. That is a notorious fact In the
history of our country. It has been
noticeable to all who have investigated
IL for the last twenty or twenty-five
years. But that condition has been, as
have said, accentuated very much in
the last few years.
THE farm mortgages of owners Of
farms in 1910 amounted to s1,726,172.-
S51. Ten years afterward. IN 1920,
that Indebtedness had increased to $4,-
01S,711,213. This figure does not include
the rented farms or the Indebtedness
of those who are living upon ror-0d
farms. AS nearly as can now be ,s.'-
mated the indebtedness of the agricul-
tural interests of the country, of the
farmers of the country. owners and
tenant farmers is now $500, 100000.
"An average interest upon that OF z
or IN per cent. equals $500, 100000 a
year. That is the basic condition with
reference to the farming interests Of the
country. That Is the condition which
existed in 1920. That is the burden and
the debt which they were then carrying.
"I have q letter written by farmer
well known to all Northwestern men,
presume, a man very active In the agri-
cultural life of the Northwest, and
whose statement I think Is not at all
exaggerated.
Letter From n rarmer.
Speaking specifically of the condl-
tions in his portion of the country he
said
There are thousands of farmers In
Montana, washington and southern
Idaho who are unable to send their chill
dren to school on account of not having
| A 80 Al ltt,fxR
mostly on bread and milk A good
many OF them have to go to their banker
and beg for money enough to buy sack
of flour. A great many OF the farmers
even In our best districts have not been
able to pay their last summers store
bill Therefore they cannot take in
these people who are hungry and out OF
work and give them work. Farmers will
be able TO hire but very few men In the
| spring. In consequence poor farming
will be done and acreage will be cut
"That is the condition which prevails
not only In the territory which is COW
cred by the gentleman's letter but that
Is the condition which prevails through
out the agricultural region In the middle
West and Far West very generally.
When the time comes to plant the crop,
II must be planted then or not at all.
When the time comes to gather the crop
~ HluSI pe EulncTeu tHtH UT nOt at all
We are going to face a condition inside
of the next ninety days in which hum
dreds of thousands of farmers through
out the country viii not be able to plant
their crops.
"They win not be able TO put In their
acreage. They are not in a position to
hire the help to do so. ! submit that
before the Congress OF the United States
advises the farming interests of the
country that Notwithstanding the seri-
Gus condition which prevails they pro-
pose TO put upon them their proportion
of from $4,000. .000, 900 TO $3.50, 900 900
OF additional indebtedness we ought to
take counsel among ourselves as TO what
will be the probable effect.
"rhe young men throughout the coun-
try who came back unimpaired In body
and mind cannot recover until the coun-
try RECEIVERS. They cannot come back
economically and financially until the