Evening Republican, Volume 22, Number 294, Rensselaer, Jasper County, 8 December 1919 — FARMERS FRIEND ON RESERVEBOARD [ARTICLE+ILLUSTRATION]

FARMERS FRIEND ON RESERVEBOARD

H. A. Moehlenpah New Appointee, Long Interested in . - Agriculture. REPRESENTSCOUNTRY BANKS Has Been Active In Encouraging Rural Development and Introduction of Better Farming Methods— Self-Made Man. Appointment of H. A. Moehlenpah of Wisconsin to the federal reserve board establishes a link in the banking system of America which connects the great commercial and agricultural interests and serves to create a sympathetic understanding between the various factors in the financial organization of the nation. For Mr. Moehlenpah was essentially a country banker —a big one and an influential one, to be sure —but nevertheless a farmer’s banker and a banker representing and understanding the needs and problems of agriculture and of the smalT bank. He takes to the feleral reserve board, which of course, stands at the head of our financial system, a profound knowledge of what Is required in the way of financing for the agricultural interests of this country. Since 1893 he has been connected, first as cashier and later as president, with the Citizen’s Bank of Clinton, Wis., an Institution of $50,000 capital. Within the last ten years he has organized and operated two large institutions for the handling of farm

loans. The first of these is known as the Wisconsin Mortgage and Securities company and has a capital stock of $200,000. It was organized in 1914 and during the first five years of its existence it made loans to sixteen hundred farmers aggregating five millions of dollars. The second of these institutions is known as the Bankers’ Joint Stock Land Bank of Milwaukee, organized In 1918 under the federal farm loan act, with a capital of $250,000. This institution now has.* about seven hundred loans Ineffect totalling . Understands Farmer's Needs. While these facts show the financial gelation of Mr. Moehlenpah to agricultural interests, they barely hint at his great activity in behalf of the farmers for he was active in Wisconsin and at Washington, D. C., in behalf of the legislation which resulted In the passage of the farm loan act. His last work in Wisconsin before going to Washington was that of getting under way the organization of a cattle loan company for the purpose of financing the movement of pure bred stock from southern Wisconsin to northern districts of that state. He had been active for many years encouragingbetter fanning and has been Identified with many movements like grain contests, exhibitions in rural schools, formation of country development associations and educational excursions made for the purpose of introducing pure bred stock and pure bred seeds. Many times he has been chairman of the committee for such work in charge. Knows Big Policies. However, Mr. Moehlenpah is not merely a country banker. He is one who understands the larger aspects of finance and is able to think of, financial problems in large units. He was a considerable factor in the discussions of the federal reserve act before it became a law and perhaps more than any single individual was responsible for the endorsement of this act by the Americr .Bankers’ association. When the federal reserve act was before congress, the American Bankers’ association called a conference tn Chicago of the bankers of the country forthe purpose of securing suggestions for amendments it was felt would be needed. > Represents Country Bankers. As a result of that conference, Mr Moehlenpah was appointed a member of a committee of fifteen representing the. bankers of the United States. He represented, the country banks, all the other members being large city bankers: A. P. Hepburn, New York; W. AMaddoXr Atlanta, Ga.; j. B. Forgan and G. M. Reynolds, Chicago, and

H. A. Moehlenpah.