The Delta independent., 1923-10-26
AGRICULTURE LEFT IN
BANKRUPTCY BY ACTS
OF DEMOCRATIC PARTY

BANKRUPTCY BY ACTS
OF DEMOCRATIC PARTY
(By John T. Adams. Chairman Of the
Republican National Committee in
The National Republican):
With the exception Of the wheat
farmer, all agricultural interests are
in much better condition than at any
time during the last three years, and
their prospects are brighter.
It was three years ago this fall that
agriculture suddenly found itself in
distress. Practically without any
warning credits were restricted at the
very time the 1920 harvest came into
the market This harvest had been
produced at peak cost.
During the war and following, the
Democratic administration urged the
farmer to put forth every energy and
use every resource to produce the
maximum. 1t was in response to this
call of the government that agricul-
tural interests had made large invest
ments and purchased extensive equip
ment, often incurring tremendous liza
b1lities in doing so.
The sudden restriction Of agricultur-
al credits doubly embarrassed ths
farmer because the restriction of Gre
dit in other lines Immediately lessened
the demand for farm products, with
the result the farmers had no market
for their high-priced crops and faced
a demand for payment Of their debts.
At the same time depression over
took the industrial world, which dir
ectly affected the prosperity Of mill
lions and their purchase of farm
products. Moreover, imports Of farm
and dairy products under the Under
wood tariff. then in effect, were caus-
ing a break in prices at the primary
markets.
These conditions all existed at the
time the Republican party came into
power in March, 1921. They were
brought about by policies of the Demo-
cratic administration. American ag-
riculture has seldom experienced
worse conditions than 1t faced in the
spring and summer of 1921.
The first concern of the Republican
administration was relief from those
conditions. To supply the need for
ready money and temporary credit,
the War Finance corporations pow
ers were extended to make emergency
loans, and 1t loaned to agricultural and
livestock interests at the rate Of over
a million dollars a day for over q
year.
To stop the importation Of farm and
dairy products and protect the home
market Of the American producer, the
farmers emergency tariff was enacted.
Relief due to this legislation was inn
mediate.
Under this Republican administra-
tion more fundamental, constructive
Legislation has been enacted in behalf
Of farming interests than ever before
in the history OF the United States.
The federal banking system has
been rerganized 30 that today the
farmer and livestock man can obtain
needed credits on terms even more
liberal than mercantile interests are
granted. Supplemental to the agri-
cultural credits acts was the amend
ment Of the warehohsing act. These
two pieces of legislation enable the
grain farmer to market his products
in an orderly manner instead of being
compelled to dispose of them immedi-
4tely after harvest at sacrifice.
Another important piece of legisla-
tion designed to assist the farmer in
profitably marketing his products was
the cooperative marketing act. Other
outstanding agricultural legislation
was the packers and stockyards act,
the filled milk bill and uae butter
standards act.
It should be emphasized that the
Republican administration enacted all
legislation requested and recommend
cd by representatives of reliable farm
organizations. Further readjustments
to relieve some phases of agriculture
seem necessary. They are now being
worked out by President Coolidge and
his cabinet. Representatives of the
agricultural sections needing relief
are being called into conference with
the President for the purpose Of
formulating a practical helpful pro-
graz. AS soon as It is agreed upon it
will receive the support of the Re-
publican party. The agricultural IN
terests realize that in every crisis
conditions have been Strengthened out
by the sound. progressive policies of
the Republican party.