The Washington times., 1924-04-28
BANKERS FAVOR
/. j. S. AID FOR
FARMERS
Urge Government Corpora
tion in Selling Surplus Farm
Y Products Abroad.
BY w. 8. COUSINS.
Copyright, 1894. By cosmopolitan
News Serviee.l


NEW YORK, April 20.--Practical
cooperation rather than parentalistic
Government aid is the best antidote
Tor farmers ills, in the opinion OF
representative bankers today, at.
tending the annual meeting Of the
executive committee Of the Ameri.
can Bankers Association, at At.
lanta, Ga.
Expand Foreign Markets.
The most practical aid the Govern.
ment can give to agriculture is to
expand the foreign market for
surplus agricultural products and ia
assist farmers in transferring
activity from production of nnValue,
able commodities to those which
VIII readily return a fair profit
above cost Of production, according
to President Walter w. Head, of the
bankers association, himself a
prominent Nebraska farmer.
THE foreign markets for agri
cultural products will be extended
to q material degree by settlement
OF european political and economic
difficulties" Mr.. Head declared
The Government should assist in
this necessary transition, insofar
as assistance can be granted on a
sound economic basis. The Govern,
ment should not and cannot success.
fully engage in efforts to fix prices
or otherwise provide an artificial
stimulus which will not bear the
test OF sound economic policy"
The interest Of the farmer will
not be served in a permanent way
~ granting any special Govern
ment favOrs or class legislation. y
said Burton NJ. Smith, of Wisconsin,
chairman of the agricultural com
mission OF the bankers association
What the farmer wants" he said
lis a square deal. He is not look
ing for charity. The large majority
OF farmers ills are economic in
character, and must be solved by
improving economic conditions. On
general principles, the one crop sys.
tenn is agriculturally and economical
ly unspund, and farmers must learn
to diversity"
Situation Improving.
The Government cannot leeislate
an Improvement in the agricultural
situation" said T. r. Preston. OF
Tennessee, president Of the associa.
situation 10 already improving; and
VIII continue to DO 30. II the Gov.
eminent would reduce the burden
OF taxation and get away from pa.
ternalism, and let the agricultural
situation alone. it would soon work
out its own salvation"
Oliver G. Fuller, of Milwaukee
chairman of the committee, on fed
eral legislation. has a good round
denunciation for Government regu.
lation of prices and Government
marketing oe farm products.
The Government can best furnish
aid to farmers by using its efforts
to open up foreign markets." said
Mr.. Fuller .'sThe Government
snould also encourage cooperative
organization among farmers where
1t promises to bring about genuine
economics in marketing of farm
products. The farmers, if they only
knew 1t, can do much better than
the Government can"
The consensus Of opinion Of bank.
ers is that Washington investiga.
tons have had no. material i'll
effects on the country's business
conditions, that Congressional de-
lay In tax revision Is hampering
business progress and industrial
initiative; that the most important
political question today is the solu.
ton of the reparation problem; that
Federal Reserve Bank rediscount
rates should not be lowered, row or
in the immediate future; that inter
est rates may continue below pre-.
vatling rates Of recent years.