Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-06-26
BRIGHT DAY HERE
FOR ACR|CULTUR|ST,
HARDING DECLARES
Worst Of Postwar Depres-
sion Past and Ample Credit
for Farmers Assured, He
Tells Kansans

| HUTCHINSON, KANSAS, June
23.-President Harding brought tc
the agricultural middle west today
a message of optimism with a pre-
diction that the worst of the post
war depression had passed and that
gradual Improvement could be rea
sonably expected.
81 confess a frank pride in the
governments part in lettering q
situation against which you justly
complained and which all the peo
pie of the nation deplored," the
president told his audience in this
agricultural state. "The co-opera.
ton of all the governmental
agencies, and with them the CO
operation of the fine forces oil
leadership which the great national
farm organizations have developed
made it possible to secure a meas
ure of helpful results in this de.
partment of our endeavors, which
has been especially gratifying.
! Moreover, it has found prompt re
| Election in the improved status OF
| every agricultural concern. We
have been officially informed that
| owing to improved conditions the
farm products of the country for
1922 were worth $2,000,0O0,0 900
more than they were in 1921. Clear.
ly, we are through the worst of
the depression and can reasonably
expect gradual improvement.
1.-The balance within the indus
try, as betwee nlive stock and grain
| production, has been restored
| While the war lasted there was NO
| possibility of production OF
such staples as wheat and cotton, for
example,; and when peace suddenly
| burst upon the world, the farmer
had plans for a long future which
he could not readjust instantly. No
| human wisdom could possibly have
| foretold the course that would be
| taken by supplies and demand and
it is as futile as it is obvious to us
now to say that wisdom would have
dictated at least a less precipitate
policy in removing the wartime re.
strictions and guidance in dealing
with some aspects of production and
distribution.
Foreign Markets Opened
| "When the present administration
came INTO responsibility, agriculture
was in the lowest ebb of depression.
The immediate need was for meas
ures to meet an emergency. There
was urgent call to keep open and
so far as possible enlarge our for
eign markets, and this was accom-
plished by a prompt policy of plac-
ing necessary credits at the disposal
of those engaged in finding foreign
markets for our foodstuffs; by ar
resting and reversing the drastic de-
f1ation which had the seeming, under
the former administration, of being
aimed especially at the destruction
of agriculture's prosperity; by re-
calling the War Finance corpora
ton from its state of suspended ami
nation, giving it a credit of $l,006!-
600, 900 in government funds, and
commissioning it to afford relief
to the American farmer. The wisdom
of this action was demonstrated by
results.
-Four hundred million dollars have
been loaned by this institution,
thfce-fourths of it to the farming
and livestock interests. At the same
time the emergency tariff measure
was passed, by which to secure the
farmers home market against the
flood of competing articles from dis
tant corners of the earth. The new
tariff schedules saved for the Amer
lean farmer a vitality important and
graveIy menaced home market. The
resumption of the War Finance oper-
ations, backed by the resources or
the only government on earth that
was able to summon such credit
enabled the American farmer to COM
pete for sales abroad"
The president enumerated other
measures taken by the government
to aid the farmer including re-estab-
lishment of an active basis OF the
federal farm loan board, reduction
of freight rates on farm products
and legislation to facilitate co-opera-
tive marketing Of farm products; to
prevent harmful gambling III asri'
cultural futures, to regulate and con-
troll the packing industry; to remove
restrictions upon the operation or
the Joint stock-land banks; to au-
thorize formation of irrigation dis
tricts whereby the water-using set
tiers are brought together in asso-
Citations to conduct their relations
with the federal government, and to
extend the time on payments due
from irrigation farmers to the gov
eminent.
eff the recital of this long list of
accomplishments in the farmers be-
half shall have seemed to suggest
that Washington has been devotlng
itself with a special and perhaps a
partial assiduity to the agricultural
interests" Mr. Harding asserted, Il
shall reply that the farmer has re-
ceived nothing more than was COM
ing to him; nothing more than he
needed; nothing more than was good
for him and nothing that was not
also good for all of our national in
terests, bound ups as they are in the
nation-reaching mutually of de-
pendence and interdependence. [ tell
you frankly that I am proud to be
able to come to you today and tell
you of what has been done, because
in doing it we have served not only
the farmer but everybody else in this
land.
Ample Credit Forthcoming
but that is not all. [ have re-
served till the last what we may well
appraise the browning achievement
of the entire list refer to the code
of agricultural credit legislation
known as the agricultural credit act
of 1928, which became law in the
closing days of the last congress. IL
has not been possible yet to perfect
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