, 1925-02-08

chairman Of the presidents agricul.
turai commission. w hope before
long he may be our secretary OF
agriculture. take great pleasure
In introducing TO you our former
governor, Robert Carey"
Governor Carey spoke as follows;
"Mr. Speaker. Governor Ross.
members OF the legislature, ladies'
and gentlemen: This reception Is a
great deal OF a surprise to me. I ap-
preciate having this opportunity to
speak to you. but ! am rorry / had
so little time 10 prepare. Mr.. Under.
wood called mo this morning Ind
asked ME Il ! would come here and
make a few ismarks, and / 1otted
down a few things that I thought
might be of interest to you along
agricultural lines.
IT thought that you might be ia.
terested In hearing OF the work OF
the agricultural commission. Of which
I happen to be chairman at this
time. When President Coolidge was
elected he promised that he would
appoint a commission, which com.
mission would study tho problems
VI agriculture and report TO him.
In keeping with this promise, after
the election he chose a commission
OF nine members. Three OF tho mem
bers OF this board represent the lead
ing farm organizations in the United
States-we have the president Of the
Farmers Union. the head of the
Farm Bureau and the head Of the
National Grain association. There
arc three members who represent
the agricultural colleges-the presi-
lent OF the Kansas Agricultural col.
iece. the dean Of the University Of
Minnesota and the man in charge Of
tho New York agricultural station.
Another Is the president OF the
American National Livestock 1850
;iation. and another the head Of the
3un.Made Raisin association, which
is a cooperative association OF far.
mers In California. ] suppose, after
getting all these brains together, the
president thought It might be we'll to
ever the brains, 30 he chose me as
chairman Of this body.
1.-THE first occasion we went to
Washington, we discovered we would
have to get q lot OF data together
and information on the present agri'
cultural situation. also we wanted
10 avoid. IL possible, suggesting new
avs TO the legislature, as there were
so many laws on the statutes at the
present time which would cover the
matter. After receiving this intorma'
Lon we returned to Warrington anc
were in session there for something
over thirty dsys.
We took up as our first problem
the cattle industry. We did this fol
he reason that there was u reai
emergency in the cattle industry
perhaps more so than any other linz
Of agriculture. We determined &c
make q thorough study OF the prob
lem. and the result OF our finding,
was that the cattle industry toda,
was in its present critical condition
due TO the var period, the higf
values placed upon livestock at thai
time and the Debated prices and d
mished production that nscessaril,
occurred after the war. We dlscov
cred that there was a shortage o
breeding cattle in the country caus
ed by financial conditions, and or
account Of forced liquidation the peo
pie had put their stock on the mar
ket and unfortunately there was ne
capital to buy these cattle and tax,
them back on tho farms. This is thu
real reason that the cattle industr,
is suffering today. We thought II TIT
business could be financed that ther'
would be an increase IN cattle ans
the business would be put on !,
sound foundation again.
AT n time We felt that
might be necessary for tho Govern
ment TO loan money direct to tn,
cattlemen, but on investigation. WI
found there was q law In tho Stat
utcs covering this In the form o
the intermediate Credit Bank. which
provided ample funds for this pur
pose. We also found that the Fed
erai Land Board. under the Inter
mediate Credit Bank. had not beef
making the effort to give relief I,
the people and there had been lacl
Of Interest taken In making the mos
needed loans. ! suppose you ar
most OF you acquainted with tn
intermediate Credit Bank. but 70
| those who are not. I will say tina
| this organization Is for the purpos'
OF making long time loans to the az
l -l-.-l rrhA l.ors ,vhlrt, tAo,
arc now able to obtain from loanini
agencies are for a period Of thirty
sixty. ninety days. or perhaps 81,
months. Under this Act. It IL pos
sible to borrow for q period Of three
years. Loan companies can be 90
up and tho intermediate Credit Banl
| will furnish them money ten tim~
their capital. which money can b
loaned to farmers. For instance
suppose we have In Cheyenne n liv'
stock company with one million dol
lars capital. they could obtain from
the intermediate Credit Bank tel
million dollars on II. and In turi
/ re.loan II to the farmers.
I'VE had a conferences with tn
Federal Farm Board In Washington
and also had 4 conference with tn
president Of the twelve reBona
banks. It has been arranged b.
the Federal Farm Board I
make a trip yer tho west to max
an effort 70 organize the discoun
agencies. and they will DO what the.
can to help out With the present 81,
uation.
We also found that the cost 0