South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-01-24

To la an cCaEiOu OF the kIfaNhHA
sstisfaction 20 me that confess the
G-m belief that in the public lie OF
a people 80 intelligent as the Amer
Ican nation most problems may be
-egarded as well on the way 20 solu-
zion when they are once reduced 20
their simplest terms and generally
understood. This conference was
called with the aim 90 bring about
such a general understanding Of the
critical situation now confronting
American agriculture
Concerning the grim reality Of
the present crisis ia agriculture.
there can De no differences Of op-
inion among informed peoples The
derrcsslons and discouragements
are not peculiar 20 agriculture. and
think it fair 20 say there has
been no avoidance o. a great stump
from war time excuses 90 the hard
shine ~ adjustment.
War Reaction.
Now iu his Cthe farmers) hour
of disaster. consequent on the re-
action from tho feverish conditions
of war. he comes 10 us asking that
DO be- given support and assistance
which shall testify our appreciation
Of his service To this ne is entitled.
NOT only for the service he has done
but because IL we fail him, we will
precipitate a disaster that viii af-
feet every Industrial and CONNER
cial activity OF the nation
Quantity production Of agricul-
tural products has ON the whole
about kept pace with the popula-
ton he said. "but has Jagged far
behind the quantity production Of
mines and factories. II seems safe
TO conclude therefore that the
prices received by producers OF ag-
ricultura! products have not been
efficient 20 induce an increase in
quantity production comparable
with the increase that has occurred
in the production Of either mines
or factories. Perhaps the best test
OF the well being OF an industry is
found in the comparison OF rewards
for capital invested and labor en-
pjoyed i'm other Industries
Producers Must Solve.
II am sure he added, chat
there is no governmental panacea.
that there is no magic word OF leg
islation and no magic wand Of ad-
ministrative action that can bring
about the desired results. I am per-
suaded that they can only be accom-
pIished through n more efficient or
sanitation Of the producers.
The government must remove OBJ
stables which now retard and in
some instances prevent. combina-
tiOns OF farmers and the states must
give legal status to organizations of
farmers. Harding said.
The administration has been
keenly open to the situation and has
Civen Encouragement and support TO
every measure which it believed cal
culated 10 amelorate the condition
OF agriculture. In the effort 10 fl
nance crop movements. TO expand
foreign markets. 10 expand credits
at home and abroad. much has been
accomplished"
These nave been. 10 is true. large
~ in the nature Of emergency meas
ures. So long as the emergency must
continue. IL must deal with such; but
at the same time there IL every rea-
son for us 10 consider those per-
manent notifications OF policy
which may make relief permanent.
Needs Financial Aid.
Commerce and manufacturing
have been afforded ample financial
facilities for their encouragement
and expansion. while agriculture on
the whole has Jagged behind.
obviously the farmer needs "a
have provisions adapted to his work
ing capital.
Both the mechanism OF finance
and the pre-conceptions Of the
country are united in creating the
impression that easy access 10 am
ple carital ia disadvantage TO the
farmer. and an evidence OF his de-
cay i'm prosperity. while precisely
the same circumstances are con
Strued. in other industries. as evil
dence Of prosperity and OF desirable
business expansion.
'Tn the matter OF what may be
called fixed investment capital the
disadvantage OF tho farmer SO
strongly impressed public opinion
that q few years ago. the fedora
farm loan board was established &C
afford better supplies Of capital for
plant investment and to insure mod
crate interest rates.
Capital j. Deprived.
Eut while unQuestionably farm
finance ia benefited. the hoard has
thus far not extended its operation
10 the provision or working capacity
for the farmer as distinguished from
permanent investment in the plant
There should be developed
thorough code of law and bushes.
procedure. with the proper machin
or1 Of finance. through some agenCy
20 insure that turnover capital shall
be as generousi- supplied 10 the
farmer and on as reasonable term,
~ 20 other industries.
I'm tho aggregate. the capital in
dehtcdness Of the country's agricul
tural plant IS small. not large. com
pared with other Industries. tn,
wonder Is that agriculture. thus de
nrived OF easy access TO both invest
meut and accommodation capital
has prosrered even 80 we'll
The lines on which hnancia
support ~ agriculture may be or
sanized. are suggested in the plar
90 the federal farm loan board anc
Fro those rural finance societies which
have been so effective in some Eu
rOUean countries
Must Also Help self.
TO cannot be too strongly urge,
tlat the farmer must be ready {,
help himself. This conference would
io most lasting good II IL would fuC
ways 20 impress the great or farm
ers 90 avail themselves OF the bes
methods BY this 7 mean. that in n,