The Birmingham age-herald., 1924-02-05
PROPOSES PLAN
 TO AID FARMER
President FavOrs Direct Exten- sion Of Agricultural
 Funds

WASHINGTON, Feb. 4.-President Coolidge in an address prepared for the opening today of the special conference on northwestern agriculture outlined definite proposals for government as- sistance of wheat farmers.
 Direct extension of federal funds as proposed in the pending NOrbeck-Burt- ness bill, to finance wheat growers in attempting diversification of their crops, and continuance of advances through the war finance corporation to cooper ative enterprises and financial institu- tions in the farming regions were the methods suggested.
 Without cooperation between state, local and federal governments, he warned. help could not be made effec- tive. Likewise, he added, creditors of northwestern farming communities must take concerted action for the refunding and extension of existing indebtedness to make the federal aid effective. The conference which is being attended by representatives of industry, finance and transportation, as well as agriculture, included many hearers, he said, who could work out the program necessary.
 Outlines Steps
 The President, outlining 'the steps which in my opinion the federal govern ment can properly take in cooperation with you as its share of the work to be done," said:
 "First-The enactment of the Nor back-Burtness bill, providing an appro- priation to be administered by the Sec retary of Agriculture and two addi- tional commissioners for the purpose of promoting the diversification of agri- culture in certain sections of the coun- try which heretofore have been devoted primarily to the production of wheat.
 Such a fund can be used to make loans to wheat farmers to enable them to purchase live stock and poultry, and thus equip their farms for dairying and general farming.
 Moreover, government aid in this connection must be predicated upon full cooperation along certain well defined lines of existing creditors of the farm CTS.
 Existing creditors, particularly the mortgage companies, the insurance com panies, the commercial and banking in terests will readily see that as a con- d1tion of any advance of funds from the federal treasury arrangements must be made for the funding and extension of existing indebtedness.
 "Second-It is proposed that the time during which the war finance corpor- ation may make advances for agricul- tural purposes be extended to the end of the present calendar year.
 Tn my message to Congress I stated that there are distinct limits to the scope of the assistance which the fed eral government can render. These lim- its must not be overstepped. It was pointed out that government agencies cannot properly make loans upon in- secure collateral or to banking insti- tutions whose capital is seriously inn paired.
 Must Cooperate
 If the government acting through the department of agriculture is to make its assistance effective in promot- ing diversification of agriculture in the wheat sections, large degree of CO., operation from the local interests and specifically from the state and county farm and banking organizations must be secured.
 The principal purpose of this con- ference is to secure cooperation. Agri- culture cannot stand alone. The banks cannot stand alone. A great amount has been spent in the area affected. It represents elements of our citizenship. In this day of distress and adversity 1t ought to be saved because it is worth saving. It can be saved if all of you who are interested are willing to do what you can do. Without you, the government can do practically nothing, With you the government can save the situation"