The herald and news. [volume] (Newberry S.C.) 1903-1937, 1922-01-27
FARMERS NEED
IMMEDIATE RELIEF
PRESIDENT OFFERS PROGRAM
FOR RELIEF OF AGRICULTURE
About 325 Leaders Gather at Wash.
ington for Consideration of
Farmers Problems

|
ment of a thorough code of law and
business procedure, with the proper
machinery of finance, to assure the
farmer as generous supply Of work
ling capital on as reasonable terms as
| is granted to other industries was ad-
vocated here today by President
Harding in opening the national agri-
cultural conference.
"An industry" the presidet said,
more vital than any other, in which
nearly half the nations wealth is in
lvested, can be relied upon for good
security and certain returns"
! Declaring that in the matter OF
what may be called fixed investment
capital. the disadvantage of the farm
ers so impressed public opinion that
the federal farm loan board was es-
tablished to meet the need, the pres
ident said the farm still needed some
provision for supplying him with
! working capital.
! Compared with other industries"
ne continued, "the wonder is that ag-
riculture, thus deprived of easy access
to both investment and accommoda-
ton capital has prospered even so
we'll"
Lines on what financial support for
agriculture may be organized, Mr..
Harding said, are suggested in the
plan of the federal farm loan board
and in those rural finance societies
waich have been so effective in some
European countries.
"The cooperative loaning associa-
tions of Europe have been effective
incentives to united action by farm
ers," he continued, "and have led
them directly into cooperation in both
production and marketing, which con-
tributed greatly to the stabilization
and prosperity of agriculture"
The president told the conference
that concerning the grim reality OF
/ the present crisis in agriculture there
can be no differences Of opinion among
Informed people"
"The depressions and discourage
ments," he continued, "are not Pc
culiar to agriculture and / think it
fair to say there could have been no
avoidance of a great slump from
wartime excesses to the hardships
of readjustment. We can have no
helpful understanding by assuming
that agriculture suffers alone, but we
may fairly recognize the fundamental
difficulties which accentuate the agri-
cultural discouragements and menace
the healthful life Of this basic aud abb
solately necessary industry."
The farmer, the president docAar-
ed. from the very mode Of bio Me 10
individualstic and therefore A1e.
cause he buys and sells as an individ-
ual it is his fate to buy in the near
est and sell in the cheapest market"
He contrasted with this the corpor-
alton which, he said, could effect &C.
onomics and acquire for itself a pow
er in the markets by combinations.
The president said there WIS
misconception regarding the financial
status of agriculture.
SIT can not be too strongly urged
that the farmer must be ready to
help himself" he added. "This con-
ference would do most lasting good
If it would find ways to impress the
great mass of farmers to avail them
selves of the best methods. By this
I mean that, in the last analysis leg
islation can do little more than give
the farmer the chance to organize
and help himself"
The president then referred to CO.
operative marketing.
"With financial support for agr:-
culture and with instrumentalities
for the collection and dissemination
of useful information" he said, "a
Igroup of cooperative marketing or
ganizations would be able to advise
their members as to the probable de-
mand or staples, and to propose
measures for proper limitation Of
acreage in particular crops. The
certainty that such scientific distrib-
ution of production was to be OBJ
served, would strengthen the credit
of agriculture and increase security
on which financial advances could be
made to II The disastrous effects