The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1922-11-23
.PROGRESSIVES IN
CONGRESS UNITE
Leaders Plan National Confer
ence TO Adopt Legislative
Program for 1924.


Washington. Following are the
principal demands which will be made
In the next Congress by the independ-
ent group which came into strength In
the election and is prepared to dictate
and control. IL possible, all legisla-
ton
Defeat OF the ship subsidy measure.
Revision OF che Fordney -McCumber
tariff act
Repeal OF the seh-Cummins trans.
portation act
Amendments 10 the Federal reserve
act. 70 make II easier for money to
reach the farmers.
A liberal foreign policy. including
the recognition Of Soviet Russia.
Occupying commanding position
as a result OF the nationwide Progress
iye.Democratic sweep. the farm bloc
in the house Of representatives will
demand early enactment of definite
program Of Legislation An outline OF
the blocs plans was given In an In
terview with Representative l. J.
Dickinson, Republican, Of Iowa. chair
man OF the farm bloc Declaring that
the result of the election means that
the progressive forces must be accord
ed greater consideration. Chairman
Dickinson said the legislative pro
gram of the bloc will rest on four
cornerstones
/. Establishment Of a commodity
financing plan"
2. Increase in the limit on loans by
farm banks from $4,000 to S25 900,
8. Prohibition OF further issuances
OF taxexempt securities
4. Readjustment OF the railroad
rate and transportation system
Establishment OF commodity
financing plan" will mean conversion
OF the War Finance Corporation into
permanent third banking depart
ment OF the government 50 that To-
cal bank IN a rural district will have
an additional reservoir into which II
may put securities based on crop pro
duction, cattle, etc.
For example. said the chairman,
notes given on crop production would
run twelve months Cattle loans
would run much longer, probably three
years.
The local banks would take these
securities fer loans 70 farmers and
cattle raisers and place them IN the
government bank Until maturity at a
satisfactory rediscount rate The Fed
eral reserve banks now handle only
commercial paper, running fror sixty
TO ninety days which IS OF practically
no value 10 the farmer
Increasing the limit on loans by
farm land banks would enable an addi-
tional number of farmers TO refnance
themselves during the present period
OF depression and extend payment OF
the loan over a period Of thirtythre<
years
An effort will be made 70 get all the
progressive leaders IN every state TO
send representatives TO conference
al which a definite platform OF princi-
pies can be agreed upon.
Among measures already discussed.
some OF which II is said are likely 10
be adopted IN the progressive plat
form, are:
/. Revision Of the tariff Law with a
view to removing burdensome rates
on necessities.
2. Redrafting OF the Federal Re-
serve law 70 destroy what agricul-
tural interests declare Is a power over
credits
3. Recognition Of Russia and Mex
leo and the establishment Of complete
friendly relations with those govern
ments
I. General amnesty for al political
prisoners who were interned during
the var.
s. Extension 81 the direct primary
system 10 tie selection 81 candidates
for president aHd vice pre- ident so
that delegates - the conventions from
an states shall b. chosen BY vote Of
the people