Arizona republican., 1922-03-26

through legislation and personal as
slstance. We have tried 10 do on
work helping the people to hell
referring to the work OF the cor
poration, Mr.. Meyer declared that i
- made UP Of 33 committees. com
prising the best banking and bust
ness talents of the country. men whC
nave sacrificed to serve during tn,
ton.
Success of the work of the financ,
corporation is due, largely, to thu
helpful cooperation of the various
states, Mr. Meyer declared. 1--WE be.
lieve that we have had favorable ant
tangible results" he added.
The War Finance corporation Ii
properly financed to make it's worl
effective. We have a working cap
ital of $500, 100000, appropriated by ar
act of congress, and we are empow-
cred to float bonds to the extent oil
$1,000 100000. We are not lacking in
resources
No government agency has more
complete support of the Legislative
and executive branches of the ma
tional government that has the war
finance corporation, Mr.. Meyer de-
clared in asserting that the MEM
bers would have no excuse to offer in
the event that they failed to accomp-
lish the things outlined for them.
Loans Millions
"The president has evinced a close
interest in the operations of this cor
poration, and / am making this trip
at his suggestion, to get first hand
information and report to him on
agricultural conditions"
Within the past five months, the
war finance corporation has loaned
approximately $300,000,000. Mr.. Mey-
er said. 1t has considered $3.50 ap-
plications, mostly from country
banks. sixty million dollars of the
total have been loaned to cooperative
organizations; $50,000,000 more have
been loaned to export firms and the
remaining S190,000,000 have been
loaned to banks, for the most part the
smaller banks in agricultural COM
munities, he explained. Frequently,
the board has been called upon to
consider as many as 100 applications
in a day, he said, and T5 applications
a day have been the boards average
for weeks at a time.
Happily, the acute agricultural
crisis is passed" Mr.. Meyer asserted.
Prices last fall were lower than they
have been for generation, perhaps
in the history Of the nation. The de-
preston is going to leave some scars
but out here in the West, where ev-
erything grows so quickly, the
wounds should heal rapidly and the
scars soon be covered over" he said.
"But we should not go ahead too
faA. We should save when the
profits are large. The Importance OF
thrift has never been more clearly
demonstrated than during the past
few months. Our greatest trouble
has been that we, as a nation, don't
look ahead quite enough. There Is
an abundance of pessimism now. TWO
years ago it was the lacking element.
but two years ago pessimism woulu
have been helpful The cause or
economic progress is assured In the
long run even though there be tenn
porary interruption.
..The last years experience has
not been without its BENEFITS Tor tne
neupie have an increased knowledge
OF business.
Markets Widened
snThere is a realization now as
never before of the intimate relaLion
between all sections of the country.
Markets OF the United States have
Svidened. they are national markets
now and / suppose the time IS not
far distant when you'll be seillns
your oranges and grapefruit under a
national trademark.
nWhen one big industry Is al
versely affected. all must feel II