Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1922-01-17
Dr.. Chambers World Wide View.

l. Still another angle or considering this
question is presented by DR.. Chandler
economist of the National Bank OF
Commerce Of New York city, who ties
the question Of agricultural credits
with our foreign trade thus:
"It Is necessary to keep in mind that
our whole intricate web Of American
industry is attached on all sides to the
buying capacity of the more than TO-
600 900 persons engaged in agriculture,
who represent possibly 5o,0oG,ooO per-.
sons living on the farms. Neither large
crops nor opportunity to, sell at a
price is sufficient. If profits are re-
duced or wiped out by an unforeseen
change, of price, the farmer must re-
duce his purchases of farm machinery
and automobiles, as well as those. Of
clothing, furniture and other things" z
DR.. Chandler bases the foregoing on
the assertion that our trade is also
linked up with our: foreign economic
relations. and no better case can be
cited than the present condition Of the
American farmer. Estimates as to the
total buying capacity that the farmer
possesses vary, but In recent joint con-
ferences of business men, bankers and
economists, 1t was generally agreed
that the maintenance Of his buying ca
pacity Is Of outstanding Importance in
our trade relations"
F, The inseparable connection between
the status Of our agriculturists as to
credits and buying power. and their
relationship to, foreign trade are thus
established by DR.. Chandler.
Troubles and Remedies.
| A summary Of these facts shows
that: 49,.
|. THE bulk of agricultural products
is dumped on the markets In too short
time, straintng capacities (a) Of credit
facilities,' and (b) transport facilities
causing (c) unscientific marketing not
employed in any other industry; that
i(d) this too quick marketing does not
give the public cheaper food prices, be-
ceuse the middleman absorbs the ad-
vance iii price over that paid to pro-.
|ducer, and (e) the producer gets less
than he would under normal, scientific
marketing; while CD the whole finan-
ciai side OF operation antt selling the
farm production is hampered by the
lack of,credits Of character suited to
the longer period in which agricultural
paper may be regarded as liquid; and
(g) it is possible thus to provide credit
facilities to cure the wrong marketing
methods without imposing on the ex-
cellent and necessary liqhidity Of the
Federal reserve, or modifying the long
time land mortgage loan system Of the
Federal farm loan board, but using
each in the finally completed credit na-
tional organization.
sII-That governmentally supervised, 1,
privately financed warehouses and e1e-
vators storing and certifying to pro-
ducts, non -perishabIe, store therein,
would (a)' cure the too rapid dumping
OF products, (b) improve the foreign
marketing of our surplus agricultural
products by adjusting to the changed
fiscai status in other countries, 'tc) cre-
ate new mobilization Of private cred
it's for agriculturalists. without lessen-
ing, but rather strengthening, existing
credit facilities, and finally, and by all
means one Of the most valuable fea-
lures of the proposals, {d) remove the
question OF rural credits from the field
of politics and move it to that sphere
Of calm, scientific consideration where
and only wherein it might be worked
out to a wise and permanent conclu-
sion.--New York World.