Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1922-01-26
HARDING BACKS Up
WATERWAY PLANS
Tells Farmers Lakes-St. Law
renee Channel Is Feasible.
SEES CRISIS IN AGRICULTURE
President Points Out Need Of Machin-
cry to Furnish Working Capital
to Tilier of Soil Easily and
Quickly.


the st. Lawrence Great Lakes water
ways project lis unquestioned," Presi-
dent Harding declared before the ma
tiOnai agricultural conference.
Il have spoken" the President said,
"Of the advantage which Europe en-
joys because of it's easy access to the
sea, the cheapest and surest trans
portation facility. In our own coun-
try is presented one of the worlds
most attractive opportunities for ex-
tension Of the seaways many hundreds
of miles inland.
/ ''The heart of the continent, with its
vast resources in both agriculture and
industry, would be brought in COM
munication with all the ocean routes
by the execution Of the st. Lawrence
waterways project. To enable ocean
going vessels to have access to all the
ports of the Great Lakes would have
most stimulating effect upon the in
dustrial life Of the continents interior.
Feasibility of Plan Unqestioned.
'"The feasibility of the project is un-
questioned, and it's costs, compared
with some other great engineering
works, would be small. Disorganized
and PROSTATE, the nations of central
Europe are even now setting their
hands to the development Of a great
!; continental waterway, which, connect
| ing the Rhine and Danube, will bring
water transportation from the Black
! to the North sea, from Mediterranean
to the Baltic.
IF natiOnalistic prejudice and eco
nomic difficulties can be overcome by
Europe they certainly should not be
formidable obstacles to an achievement
less expensive and giving promise of
yet greater advantages to the peoples
of North America Not only would the
, cost of transportation be greatly re-
| duced, but vast population would be
brought overnight in immediate touch
, with the markets of the entire world"
Delegates from all sections Of the
country representing agriculture and
industries dependent on it assembled
here for the opening of the national
conference called to consider the pres
ent situation confronting the farmer,
and to lay down a permanent agricul-
tural policy.
Must Finance the Farmer.
! Development of a thorough code Of
law and business procedure, with the
proper machinery of finance to assure
the farmer as generous a supply OF
working capital on as reasonable terms
as is granted to other industries, was
advocated by President Harding in his
address.
! can industry" the President said,
more vital than any other, in which
nearly half the nations wealth is In
vested, can be relied upon for good Sc
curity and certain returns"
Declaring that in the matter OF
what may be called fixed investment
capital the disadvantage of TIE farm
er so impressed public opinion that the
federal farm loan board was estab.
lished to meet the need, the President
said the farmer needed some pro-
vision for supplying hiru with working
capital.
"Easy Access to Capita" Barred.
COMPARED with other industries"
he continued, "the wonder is that agri-
! culture, thus deprived Of easy access
to both investment and accommodation
capital, has prospered even SO well"
Lines on which financial support
of agriculture may be organized, Mr..
Harding said, are suggested in the
plan Of the federal farm loan board
and in the rural finance societies which
have been so effective in some Euro
| pean countries.
! "The cooperative lOaning aSsOcia-
tons of Europe have been effective
incentives to united action by farmers"
| he continued, land have led them
| directly into cooperation in both pro-
duction and marketing which have con-
tributed greatly to the sterilization
and prosperity of agriculture"
| Whether these organizations are con-
sidered as means to buying the farm
ers' requirements in a cheaper market,
the President asserted, or to selling his
! products in a more remunerative one,
1.-The conclusion in all cases is the
same; it is that the farmer is as good
a business man as any other if he has
the chance"
The manufacturer, Mr.. Harding said.
whose turnover is rapid, finds he can
borrow money from the bank on short
time notes when he needs working cap
IL rx,s1l hnn tn
him in time to meet his short-tfne OBJ
legations. On the other hand, he con-
tinued, the farmers turnover is long
one; from a year in most cases to
| sometimes three wears in the cattle In.