The New York herald., 1922-12-01
HARDING PERFECTS
FARM RELIEF PLAN
Twelve Senators at White
House Farley Agree to
Push the Measure.
PROVIDES WIDER CREDITS
Move May Have Incidental
Aim to Win Senate Votes
for the Subsidy Bill.
Special Dispatch 10 THE New YORK HEaALp
New York Herald Bureau,
Wasbiuyton G.. Nov 2O (

Washington, d. g., Nov 20. .
At a White House conference to-
night President Harding, Secretary OF
Agriculture Wallace and twelve lead
ing Republican Senators decided on a
tentative program of legislation for
the benefit OF the farmers and live
stock growers
The Senator's present chiefly repre-
sented the Agriculture and Banking
and Currency committees of the Sen
ate \Two hours We're devoted to dis
cussiNn of program which projects
further relief of the farmers. espe-
cially in the way of credits.
The Senators assembled we're Sem
ators Lodge, Watson, Capper, Nc
Nary, Gooding, Willis, Shortridge. Nc
Cumber. Mclean. Nicholson. Fernald
and Keyes.
IIsc Iteus or rvs ram.
rhe legislatio,i thought best suited 10
aid farmers and livestock raisers
would:
Increase the maximum loan limits OF
Federal Farm Land Banks from $4,000
to $4,000,
Provide for the voluntary creation of
livestock and agricultural credit asso-
Citations primary to deal with loans on
livestock.
Amend the Federal Farm Loan act
to provide for the rediscount of agri-
cultural production and marketing
paper. Also add two members TO the
Federal Farm Loan Board.
After the conference Secretary Wal
lace and Senator Lodge said
''The program contemplates creating
a division in the Federal Farm banks
TO deal specifically with production and
marketing credits, thus supplying a
means Of discount TO the farmer on
longer time notes tsan are eligible TO
discount by the Federal Reserve banks
Credits to che maximum period of three
years are to be provided where the
turnover covers that period.
THE conference brought out clear
determination to develop a workable
plan of dealing with the relief of farm
credits at the short session OF Congress
and will have the cordial sanction OF
the majority in Congress and the
President"
Seek New special Session,
Insurgent Republicans who are de-
termined that the Presidents merchant
marine bill shall not pass the Senate
believe the action OF the conference to-
night an open bid for the support OF
the farm bloc for the measure.
There are a number of insurgent Re
publicans and a few Democrats who
would like to compel the President 20
call an extra session OF the new Con-
rresS carly in March. II is believed the
President will not do this unless some of
the supply bills fail in passage because
OF fllibuster.
Farm bloc leaders have expressed I'M
willingness that Congress should adjourn
without passing legislation for the relief
OF farmers. If this legislation is not
passed during the short session they
would like 60 see an extra session Of the
new Congress as early as possible, when
they are convinced they will have sup
port enough TO put their rural credit
| bills through.
May App~ase Farm bloc.
President Harding y advocacy OF thN
credit bills. which means they arc almost
certain TO go through during the short
session. will probably appeasc the farm
bloc members and prevent their fili-
clustering against the appropriation bills.
just what effect the Presidents ac-
tion will have on the lineup on the
merchant marine bill Is problcmatic
Republican leaders believe they have a
small majority for the bill IN the Senate
and that IL will pass IL they can get II
TO a vote. Insurgent Republicans and
members Of the farm bloc opposed TO
the bill plan to flibuster and talk It
TO death. IL in doubtful whether any
OF these men will be won by the Pres
idcnt's action regarding the farmers
relief bills.
But Il is certain to do one thing. ii
will rob tho members of the farm bloc
OF an excuse for filibustering against
the annual supply bills with the hope
OF compelling President Harding 20 call
an extra session early in March.