Milford chronicle. [volume] (Milford, Del.) 1878-1974, 1925-06-19


Mr.. Cunningham insists that it is
marvellous that the American farm
er can function under and still re-
main solvent in spite of the unusual
amount of misrepresentation as to
his condition.
1t is obvious that the Reserve
Board official expresses the views of
many Government men in Washing
ton on the agricultural problem
when he says, "the sum of it all is
that legislation, by itself, means
nothing to the producer unless it
can be accompanied by good bust
ness practice, intelligent production
and sound financing"
Professor David Friday, one of
the foremost economists of the coun-
try, has made an intensive study of
the agricultural situation, especially
as it relates to prices. His conclus-
ions are to the effect that prices of
farm products are relatively higher;
output of farms has increased by 40
per cent, although the actual num-
Der of farms has decreased with the
influx to large communities. No
matter where an inquiry is made
from apparent impartial sources, the
opinion prevails that the American
farmer is gradually coming into his
own, but it will require time and pa
thence on his part to bring his econ
omic condition up to a level with
other industries.
Financial leaders coming to
Washington for conferences with
the Treasury Department are dis
cussing the probability of legislation
at the next session of Congress al
lowing the extension of branch
banking. This subject is of peculiar
Importance to small towns where
bank failures have an unusually dis
astrous effect. 1t seems that the
remedy suggested is to have larger
banks which can afford to spread
their risks over variety of indus
tries and over a considerable terri
tory.
Treasury officials say that the at
tempt to provide banking facilities
to the small communities, and par
ticularly to communities where the
dominant industry is agriculture, by
means of small independent banks,
has proven a failure. It is likewise
said that the effort to safeguard the
deposits of the people in these small
by means of guarantee of de-
posits, has also proven a failure.
figures show that it is
a serious problem as 753 banks fail
ed in this country last year, nearly
all of them in agricultural States.
The transfer of the summer White
House to Swampscott, Massachus-
etts, raises an interesting question
for the State Department and the
forces. 1t is a rule of
law that wherever an
embassy or legation is located that
is to be regarded as fore
On soil where diplomatic immunity
prevails. The summer residences of
he diplomats, especially in the vi
Unity of the summer capital, will
be very popular to those
Who want alcoholic refreshment with
heir meals. This development re-
,alls story of the late Thomas R.
who as Vice-President was
he official host to the King and
Queen of the Belgians. It is custom
Try to drink a toast to royal guests
)ut inasmuch as prohibition had just
become effective, Mr.. Marshall was
obliged to apologize for the absence
If sparkling liquors at this function,
the effect of the Eigh-
eenth Amendment. King Albert
aking his cue from the good natur-
ID reference of the Vice-President,
'eplied :''Never mind, Mr.. Vice-Pres-
dent, tomorrow night you will be
ny guest and we dine technically at
east, on the soil of Belgium" They
lid-for the dinner was at the Bel
,ian Embassy.