Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1922-01-17
RELIEF FOR FARMERS
An ImpOfient Problem no Receive
Honest Consideration.
AGRICULTURE MUST HAVE FAIR DEAL
Barueh Thinks Warehouse Is Key to
the Situatior-Eugene Meyer Wants
Better System of Foreign credits-
President Wants Results.
BY John Lathrop.

p BY John Lathrop.
, To remove the discussion of agricul
. tural credits from the field Of politica
controversy;
To consider them purely as a con
structive proposal, not antagonistic to
Q but sympathetic with, the admitted!
: excellent existing Federal reserve sys
3 tenn and Federal farm loan board (long
= time, amortizable land loan) system
| and to develop such rural credits in CO.
! ordination with those existing credi
; facilities;
To perfect the previous proposals b!
| the addition Of provision for scientific
marketing credits, and for scientifical'
IL, officially supervised warehouses, tt
make possible the gradual marketing
of the $4,000 0O0, 900 TO $15,00O,O0O, O,OO'
| of annual products, now dumped on the
. markets each year in the space OF O
few weeks,
To accomplish this by private capt.
tai, perhaps by cooperative devices
asking government, state or Federal
merely to supervise the weighing and
grading Of n-perishab.e agricultural
products deposited in the warehouses
and to issue official certificates there
Of;
To utilize these certificates of the
deposit OF these -perishable pro-
ducts as the basis OF credit system
which will finance the marketing oi
products in a scientific manner; and
thus
To organize these extensions OF the
country's credit facilities and the
handling Of the enormous annual pro-
duct of our farms, plantations, sheep
and cattle ranges, or financial princi'
ples, which lie at the base of The per-
manent developments thus far achieV'
cd. CO. ordlnatlng the urban and rural
credits, operating them harmoniously
the one inter working with the other,
The representatives of the severa
interests involved are gradually draw
ing closer together, with genuine
promise of success.
Certain Specific Propositions viii be
Laid Before Agricultural Conference.
This optirnistioz zasoertion is justified
when one gathers and arranges. logi-
cally the several proposals now under
consideration; so that, when tfe Ma
tional Agricultural Economic Confer
ence ASSEMBLIES soon in answer tc
President Harding's call, through Sec
Iretary Wallace of the Department ol
Agriculture, there will be laid before il
certain specific propositions, the whole
enabling the realization of the needs
for the complete financial credit sys-
TEN, including the more rational mar
ketng of products, and relieve the an
inual abnormal strain on the credit IA
cllities OF the country by the enforced
quick financing of crop-moving in q
few weeks, and on the transport Ia
ciities by the same quick necessity.
1t is recognized that, if the discus
sion remains within the field OF bitter
political bloc antagonism, there viii
be less than financial science applied
t the solving of the admittedly acute
prob en-. Therefore, those who think
first, In such financial principle terms
and second, in full realization Of the
economic urgency Of the needs of the
day, and third, OF the problem in its
foreign trade relations as we'll as in
It's domestic production and trade
relations, may be taken as represent
ed competently by these authorities
hereinafter quoted:
Eugene Meyers, Managing Director
of the Federal War Finance Corpora
tion Herbert Quick, an acknowledged
national authority on agricultural
} economics; Bernard NJ. Baruch, framei
of the financing plan for the agricul-
tural associations, and Dr. Henry A. L
Chandler, economist for the Nationa
Bank of Commerce Of New York city.
Mr.. Meyers on Farm cerdits.
: Mr.. Meyer, quoted first, because hi
= o-ordnates the matter with the for
eign trade problems of the United
States, dealing especially with farm
credits in relation to marketing ant
the benefits to society TO be derived
thercfrom, says:
"If we provide financing to hold ou'
commodities for more gradual market
ing over longer period we will be do
ing only what any sensible merchant
/ should do to handle his business. 1t /!
not n question OF holding for specula
tive purposes; conditions compel US tt
hold for gradual marketing if we do no.
want TO cause disaster to ourselves ant
, TO those who buy in foreign countrie!
, from us.
Merchants and manufacturers wan
e q reasonably stabilized market-ant
> we as producers must control our good:
, in a way to meet the financial needs o
= the foreign buying market. They can
not longer buy as they did before th'
! war, almost whole years supply il
? the six months following the maturing
/. of our crops. American producers ant
= dealers must carry our commodities TO
1 more gradual marketing through thei
hanks