The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-01-22
MAGIC MISSING
AS FARM ENJOYS
MEET TO PARLEY
coNrfNrEp rRoM MaE ONE

,pNrNrEp FROM rAGE ONE
cent Ut tho pre-war normal are pay
lng rent ON land vamos $50 por cent
of the prc-w1r normal and even
ainre the late reductions arc paving
freight rates 100 per cent of the pre-
war normal Practically everything
the farmer buys ia VOL above tho
pre-VRr normal at tho point NJ PRO
ductlou and TO these higher prices
must also bc added tho higher rates
10 farms " IL this condition which
makes tho present state ~ ngrioul-
tufo Ho serious. In times past wc
have sorn lower prices for farm
crops. but in those tlmCs tho cost ~
things the farmer bought we're low
In proportion Tho trouble now lv
that whereas tho prices the farmer
receives for hla crops nro lowrr than
befpro tho war. tNc pr.cc hc paws
for tho things ho needs aro from 20
20 a. per cent above Tho pro-var
prices Hence tho purchasing mower
~ The major farm crops is probably
lower than at any tiWo I'm our his
tory and THE has very much 10 do
with the nation wide industrial ana
buainess deprcssion
Early arrivals today were care
fully studying the rsport Of the joint
oommission on agriculture. made
puhlic SATURDAY. morning.
one conclusion ~ the coumi''iou
which attracted much attention was
The Credit Problem
"Gt IL evident that thorc ls q rap
between tho short and long time
credit furnished bv banking ago7cic1
which should bo Mod In somo way.
Tho commission believes that the
credit problem ~ the farmer can
best be met nv adapting existing
banking agencies TO his credit rc-
qulrcmcuts. In meeting those re-
guiromCn's thoTe is no reason why,
without DESTROYING their utility for
/ tho purposes for which they we're
originally created all OF tho banking
1 agencies Of tho country cannot he
/ used by adapting them TO the farm
! ers' requirements These require
/ ments are for crcdi, of sufficient
/ maturity to make payments pussI hle
/ out of the proceeds Of the farm. This
means credit running from ak
months To three years, depending
/ upon the character OF the commodi- To-
| ties to be produced and marketed
In the case of crops siN months may
he I'm some Instances sufficient, hut
/
NAV be required
"Thc commission proposes 10
meot these requirements by author
izna any federal land bank through
n separate department created In n
under restrictions, limitations, 60"
ditions and regulations adopted 10y
the farm loan board to rediscount
paper on which money has been ad-
vanced 10 or used by tho farmer
for agricultural purposes having u
maturity Of not ,leas than six months
or moro than three years at rates ol
discount to he fixed hy the farm loan
board for any national bank. state
bank, trust company, savings iusti
tuition, or live stock loan company
In addition the commission deems II
desirable to permit the federal land
banks To make loana direct to co.
, operative associations Of farmers or
, ganlzed under state laws for the pur
! pose Of marketing staple agriculture
products when such loans are se
cured by warehouse receipts upoi
such products.
"Thc notes or obligations repre-
senting loans or discounts by the fed
! eral land banks are to be converted
into short time debentures and solt
TO the public In the same way al
farm loan bonds are now sold
at is proposed further that notes
taken or discounted 10y q fedora
:, land bank shall he eligible for re
discount with any federal reserve
bank, when such loans have reached
maturity of less than six months
In addition. any federal reserve
!. bank IL authorized to buy and sel
10 the debcntures issued by the farm
r loan board to the same eNtont and II
the same way az they now buy an,
a soil farm-loan bonds"
- This is a matter that win attraC
% much discussion at the conference.