The Birmingham age-herald., 1923-02-21
AGRAR|AN BILL {.
 WILL COME BEFORE HOUSE THURSDAY.
Farm Bloc Stirs Republican Leaders to Action General Agricultural Measure
 Is Planned

WASHINGTON, w Feb. 20.-A com prehensive agricultural credits pro- gram based on the Capper bill passed byf the Senate will be reported by the banking committee probably Thursday and taken up for passage in the House Thursday, under plans disclosed today by republican leaders.
 The final drafting of the measure was begun today in the committee. At the same time Representative Dowell, republican, Iowa, presented to Chairman Towner of the majority conference his petition for party meeting for tomorrow night for the purpose of speeding up consideration of the legislation. Chairman Town CT returned the petition, explaining that it lacked the required number of signatures and stated that in any event he would not issue call for tomorrow, for there was not suffi- cient time to notify all members.
 Representative Dowell announced later that he had obtained the re- quired number of signatures and would present the petition again D Mir. Towner with request for q conference Friday night, if the cred it's legislation had not been reported by that time. He declared the farm bloc members would insist on a bill embodying the salient features of both the Capper bill and the Lem root-Anderson measure, also passed by the Senate.
 Strong Bill Passes.
 Meantime, the House today passed and sent to the Senate another farm aid measure It was the Strong bill, liberalizng the federal farm loan system by increasing from s10000 to s16,00o the maximum of loans to in- dividual borrowers with an addition al provision for loans up to s25,O00 in exceptional cases and subject to the approval of the federal farm loan board.
 Secretary Mellon presented his views on the two measures in letter sent today to Chairman McFad den of the banking committee. He indorsed the Capper bill which would authorize the formation under fed eral charter of agricultural credit corporations and make agricultural paper eligible for rediscount at fed eral reserve banks. Agricultural pa per would be defined as the obliga- ton of cooperative marketing as- sociations.
 DisapprOves Lenroot Bill.
 The Treasury Secretary declared the provisions of the Lenroot- -Ander- son bill to be dangerous" on the whole and its administrative provis- ion to be "unworkable,' but recom- mended that certain of its features be incorporated in the Capper bill. These include authority for the re- discount corporations to make loans direct to cooperative marketing as- sociations on warehouse receipt se- curity and making of paper factors, based on agricultural products in their raw state, eligible for redis- count at federal reserve banks. Mir. Melon also indorsed the provision for repeal of the amendment to the federal reserve act authorizing prog ressive rediscount rates.
 Outlining his reference for the Cap per bill MT. Mellon said the Lenroot- Anderson measure attempted to cre- ate a separate and independent re- discount system for agriculture. The Lenroot- Anderson bill, the secretary said. was faulty in it's earlier out lines of policy. He added that the farmer had suffered in the past from unsound banking systems"
 Mir. Mellon said that, contrary to current reports, the joint agricul- tural commission had never indorsed the Lenroot- Anderson bill in its present form. which, he asserted. differed radically from the bill which the commission indorsed.
 The greatest service to agrscul- ture would be by enacting the Cap per bill,' the latter continued, and withholding action on the Lenroot bill until the situation can be mere thoroughly investigated"