The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1927-12-06

information published by the De-
partment Of Agriculture. and es-
pccially through banks and others
who supply credit refusing to IL
nance all acreage maDifestly too
large.
Government Can Help
ut is impossible TO provide by
law for an assured success and pros-
pcrity for all those who engage in
farming. II acreage becomes over
extended, the government can not
assume responsibility for it. The
government can. however. assist CO.
operative associations nnd other or
CARNATIONS In orderly marketing and
handling surplus clearly due to
weather and seasonal conditions. in
order 10 save the producer from pre-
ventAble loss. While il Is probably
impossible to secure this -esuIt at a
single step, and much will have TO
be worked out by trial and rejection,
4 beginning could be made bv set
ting up q federal board or commits
sion Of able and experienced men IN
marketing, granting e. uai advant-
ages under this board to he various
agricultural commodities anu Sec
tiOns Of the country, giving encaur-
agcment IN the cooperative m0ve-
mcnt in agriculture and providing
q revolving loan fund az nodera :.
rate of interest for she necessary
financing. s Oh Legislation would
lay the foundation for permanent
solution Of the surplus pr, hlem.
"This is not a proposal to lend
more money TO the farmer. who is
already fairly Eell named, but to
lend moIey temporarily to expert
mental marketing associations which
will no doubt ultimately be financed
by the regularly established banks.
as were the temporary operations Of
the war finance corporation. Coop
crativc marketing especially would
be provided with means Of buying or
building physical properties.
"Thc national government has
almost entirely relieved the farmer
f1om income taxes by successive tax
reductions. but state and local taxes
have increased, putting o. him a
grievous burden. A -olicy Of rigid
economy shout be applied to state
and local expenditures. This = clear
~ within the legislative domain Of
the states. Tie federal z vernment
has also improved our banking st :
ture and system Of agricultural cred
It's. The farmer will be greatl'' / :
Gifted by similar -ction in many
states. The department Of apricul-
ture is undergoing changes in Or
ganization in order more completely
to separate the research and regu-
latory divisions, that each may be
better administered. Moro emphisis
is being placed on the research pro-
gram, not only by enla: ing the APP
Preparations for state experiment
stations but by providing DIS for
expanding the research work of the
department. It is in this direction
that much future progress can be
expected"
Farm Loan System
In referring to the farm loan sys-
tenn, Mr.. Coolidge said:
ut is exceedingly important that
the Federal land and joint-stock
land banks have fallen into improper
and unsound practices, resulting in
the indictment of the officials of
three Of the. More money has
been provided for examinations, and
at the instance Of the treasury rules
and regulations of the Federal Farm
Board have been revised. Early last
May three Of it's members resigned.
Their places were filled VIII men
connected with the War Finance Cor
poration, Eugene Meyer being desig-
mated as farm loan commissioner.
The new members have demonstrate
ed their ability in the field of agri-
cultural finance in the extensive OPP
erations Of the War Finance Corpor-
alton. Three joint-stock banks have
gone into receivership. It is nec-
essary to preserve the public con-
fidence in this system in order to
find a market for their bonds. A
recent flotation was made at rec
ord low rate of 4 per cent. Careful
supervision is absolutely necessary
to protect the investor and enable
these banks to exercise their chief
function in serving agriculture"