Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-06-25
Message Of Cheer
to Kansas Farmer

Hutchinson, Kansas, June 23.-Pres-
ident Harding brought to the agricul-
tural Middle West today a message of
optimism with prediction that the
worst of the postwar depression had
passed and that gradual Improvement
could be reasonably expected.
In an address devoted to discussion
OF the agricultural situation, tho Chief
Executive reviewed the measures TAX
en- by the government to aid the farm
ers. placing at the forefront the farm
credits legislation enacted by the last
Congress. This legislation when car
ried out, he declared will be capable
of furnishing the American farmers.
for the first time in the history of
agriculture in any country. adequate
investment and working capital on
terms as favorable as those accorded
to commerce and industry" Further
more. he said. it will tend to restore
fair prices for farm products and aid
the farmer in lifting debts incurred
during the period Of depression.
Il confess frank pride in the gov
ernment's part in lettering a situation
against which you justly complained
and which all the people of the nation
deplored," the President told his audi
ence in this agricultural state. THE
cooperation of all the governmental
agencies, and with them the co-opera-
ton Of the fine forces of leadership
which the great national farm organ-
cations have developed. made it posi-
BILE to secure measure Of helpful
results in this department of our en-
deavors. which has been especially
gratifying. Moreover, it has found
prompt reflection 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 $4,000. 100000 more than they
were in 1921. Clearly. we are through
the worst of the depression and can
reasonably expect gradual improve
ment.
THE balance within the industry as
between livestock and grain produce
ton. has been restored. While the war
lasted there was no possibility of over
production of such staples as wheat
and cotton, for example,; and when
peace suddenly burst upon the world.
the farmer had plans for 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 less precipitate policy in re-
moving the war time restrictions and
guidance in dealing with some aspects
Of production and distribution.
"When the present administration
came into responsibility, agriculture
was in the lowest ebb Of depression.
The immediate need was for measure
to meet an emergency. There was ur-
gent call to keep open and so far as
possible enlarge our foreign markets.
and this was accomplished by prompt
policy Of placing necessary credits at
the disposal of those engaged in find
ing foreign markets for our foodstuffs:
by arresting and reversing the drastic
deflation which had the seeming. under
the former administration. of being
aimed especially at the destruction of
agricultures prosperity: by recalling
the War Finance Corporation from it's
state Of suspended animation. giving
1t credit of s1.OO0,000. 900 in govern
ment funds. and recommissioning it to
afford relief to the American farmer.
The wisdom of this action was demon
strated by results.
-Four hundred million dollars have
been loaned by this institution. three.