The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1924-02-04
COOLIDGE LAYS
FARM AID PLAN
BEFORE PARLEY'
Program Presented by Pres
( ident Includes Coulter Plan
L For Diversifying
OTHER FINANCIAL AID
Agencies of Government Must
Protect Farmer in the Mat
ter of Aid, He Says

Washington, Feb. A. (By
the A. P.)-President Coo
Nidge, in an address prepared
for the opening today OF the
special conference on North
western agriculture, outlined
definite proposals for govern
ment assistance of wheat
farmers.
Direct extension of the
Federal funds as proposed IN
the pending Norbeck-Burt-
ness bill to finance wheat
growers in attempting diver
sification of their crops ana
Continuance Of advances
through the War Finance Cor
poration to cooperative enter
nrises and financial institu-
tim,,s in the farming regions
were the methods suggested.
Without cooperation between state,
Hocal and federal governments, ne
-t.,rred. helm could not be made ef-
fect,ye. Likewise. he added, creditors
Of Northwestern farming communi-
tias must take concerted action for
rbe refunding and eXtenson of exist
mo indebtedness to make the federal
aid effective. The conference, which
is being attended by representatives
Of industry, finance and transporta,
tim. as we'll as agriculture, included
MANY leaders, he said, who coulc
cork out the program necessary
+ The President outlining "the steps
I which in my opinion the federal gov
crnment can properly take in cooper
alton with you as it's share OF th'
work to be done" said: FIRST the
enactment Of the Norbeck- burtnes'
bill providing an appropriation 10 p'
administered by the, Secretary o
Agriculture and two additional com
missioners for the purpose of pro
noting the diversification OF agrlcul
ture in certain sections of the coun
trv which heretofore have been de
voted primarily to the problem o
wheat"
Must Protect Farmer
"Such Il fund can be used to max
loans to wheat farmers to enabl
them to purchase livestock and poul
trv and thus equip their farms 10
dairying and general farming. Tn
funds should be used in manne
that is sound and will accomplls
effective betterment in direction
approved by those most expert
the agricultural problems involved.
6S ut should not be loaned to me
- who have not the temperament, tn
experience of the industry necessar
to successful farming. Moreover GOV
ernment aid in this connection mus
be predicated on full cooperate
along certain we'll defined lines {
existing creditors Of the farmer VIII
is in such a position that at any mt
. ment mortgage holders and gener'
" creditors can fall upon him, sell nj
lands and seize his property. Exls
q. ing creditors, particularly the NOR
!, 4 gage companies, the insurance con
= panies and the commercial and banI
y ing interests to whom the farmer
- of the Northwest are so>generally il
debted will readily see that as
condition of any advance funds fro
the federal treasury arrangement
must be made for the funding ar
extension of the existing indebtedne!
for such time and upon such re-
sonable terms as will give promi:
that the farmer may work out h
future with the help of the funt
u, advanced by the government.
4 Continue War Finance
= = "Seeor ', it is proposed that IL
time during which the War Finan
Corporation makes advances for
ricultural purposes be extended
the end of the present calendar yea
The policy has been to make loa,
where they would be helpful to Il
agricultural and livestock interes
but to make them on sound bus
o. ness basis and upon adequate secu
Jity> These policies must be adher
to in the future. The corporate
cannot and should not make loa
directly to individual farmers, n
should it purchase paper without
course from banks or other financ
institutions. Its ability to functi
effectively has been due in lar
measure to the faet that it has
sisted upon responsible interme'
aries and that policy must not
abandoned.
"There have been severe losses
banking and commercial interests
account of the serious conditio
prevailing in the northwestern ban
Some of those losses doubtless c
be repaired and further losses avo
ed if the program action herein o.
lined is adhered to. But we m,
take no action that will make pos
ble ,the transfer Of losses from p
.yate interests to the public tre
ury. The object should be rec'
struction, not charity, whether it
charity for the weak or the stro
1t should be repeated, therefore, Il
the government should not be asl
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