The Syracuse Journal, Volume 16, Number 33, Syracuse, Kosciusko County, 13 December 1923 — Page 6

WOULD MAKE FIRMER LOAN DEPEND ON PRACTICE OF CROP DIVERSITY ▲ in T Farmers and Bankers Are Economic Team Mates, but Obligation Rests on Farmer to Protect Soil and Balance * Cropc. Says D. H. Otis. I r i. By O. H. OTIS Director, Agricultural Commission, American Bankers Association. rE banker may properly be considered the team mate of the farmer, and an such must work in perfect harmony. Economic conditions demand It Tba work is too heavy. It requires a team. The interdependence of the

farmer and banker Is so close that self-preservation de mends that they pull together. If agriculture falls we at fall. There are no two industries that offer greater op portunitiea for mutual helpfulness, for increasing profit* and bank deposits than do banking and ‘arming. The Banker Farmer movement presents a program that > reaches down through the surface to he very roots ot things. It recognis e the truth that bank prosper.ty de • pends not upon the prosperity of a tew but upon the pros i parity of all and especially of the av age man and the ■ average woman. In the last analysis we must recognise community of tot -eat. “each for all and all for each " Periods of low farmer purchasing power are invariably

•» D. H. Otla

followed by a decided, increase In the "umber of business failures. Wlun the Income pek acre is increased from <m< to two dollars there is a direct *ffect in decreasing the number at basis*** failures and. vice var'% with a dtervas | at one to two dollars la the income per acre. business falL.<*o mount steadily , upward.

City Bankers and Country Conditions Bankers, if anybody, are afeoted more quickly and more directly than other business men. A period bf acri cultural depression Is Immediately no tieeable In the balances that the conn try bank carries with its city cor-, respondent. City banks are beginning to recognise thia Many of them arc taking an active interest in the Bank arFarmer movement ' yhore are some fundamentals in farmtag with which all business men should bo familiar. A bank would not long succeed if it should continue to use its capital stock for running ei pause*. Neither will the farm. Farm are have bebn living not upon the taturret from their iavestmenu but upon their principal. Almost every eCort by American farmers baa re suited in decreasing the fertility -of the soil. The banker who drives into the country and observes this process X mining the fertility from the land dhauM feel that to that extent the resources of hU bank are being napped Tot some of our bankers are eon tinning to loan money to the one-crop farmer. When such a farmer comes around for a loan the banker should make the loan on the condition that ba keep at least one cow. one sow and • couple of doxen hens, at least enough livestock to feed his own family. Agriculture is sick, production is unbalanced.. Farmers are paying treight and other overhead charges on

. WHY BANKS? Ij . - LESSON I. 8y J. H. PUELICHER, Chairman, Cammlttea an, Publla Education, American Banker* Aaaoclatlon. g

Why banks? To farilitatt the exchange of poods | and sendees, says the economist. FACILITATE • make easy. GOODS ■■ food, clothing, necessities, comforts, lux- I j uric*. SERVICES •> the work that goes into manufactur- » ing, irdo crop-raising, into selling, g buying, bookkeeping, financing— I into all man's wants. The FARMER sells his crop for money. The WORKMAN sells his labor for money.

4. H. Pu.<>*h„

The MANUFACTURER aalla his product for money, and the money § la used to boy what the oil r* have grown or produced—used g la the exchange pt goods aor* services which the banks facilitate, U •’sivc ?a --r- —

FARMER-RANKER MEETING NOTES A recant farmer banker coc f e. ence. Bald at Fargo. North Dakota, as one I «f * serlaa being seld under the anagloea of the Agricultural Commission. America* Bankers Association, to aid , tn developing permanently better agri•aftural ouadittone, was productive of • number of valuable and definite measures for a program of action. Reduction «f wheat acreage: It was recommended that the farmers reduce •orange >0 per cent from that of 1933 Diversified farming: The conference declared that the ultimate success of agriculture depends upon proper di versification. Orderly marketing: Financial support was approved to assist the orderly marketing of farm products. Encourage Hom sneakers: Support was pledged to all movements do*; signed to encourage homo seekers. Recommendations for immediate relief: Bankers and badness men were «rged to assist in providing storage toeilltlea,at once to meat thfi needs of their homo communities. The bank-1 ere were urged to accept storage cer ttficates for loans on the stored grain •ad If their reserves prevented them tNNB carrying the storage certificnu M was urged that the Intermediate Credit Banks be asked to discount thaeo certificates for the banka | Revolution* looking toward legists •re relief were adopted, and a special •emmlttee appointed to follow them gp. The resolutions were as follows: rolling for the establishment Os * I

—BBtg- .!.<"■"■WWWIW 1 11! 1 . 1 .-J.' !..U'jmiaeggy ' Send the Journal to your relatives and friends as a CHRISTMAS PRESENT ' -

food products they ought to be raising at home. Less Time for Agitators More diversified farming may mean less automobile riding; it ought to Our economic problems cannot be ■ solve! unless we are willing to work. | The one-crop farmer is not performing; his share of work. He nee<& profit ( able employment ihroughout the year t . Loafing os’ the far?' ought to be made unpopular. Business , men work throughout the year. Why shouldn't the farmer? If he did. there would be less yme to listen to the agitator The latter only increases discontent, makes men less capable and prolongs the time of recovery. The farmer j must work bls way out and not look In vain for the Government to legls late high prices. But If we get our farmers to work-1 ing full time will we not have over-production? This over-production I cry blinds us to the real issue. There may be times when certain crops, be cause of climatic or economic condi- ' tions. are unprofitable and yet there are other crops that are profitable in a well worked out system of diverslfl cation. In the livestock sections we seldom hear of an over-produtioa of alfalfa or clover. In all sections of the country we are Importing either | food or feed that we ought to be rale j Ing at home. Our cropping systems nWI to be readjusted to meet present needs. We need to do just a little more constructive thinking.

some governmental agency as an J emergency measure for orderly mar- . keting and selling separately the exportable wheat surplus; Protesting against the drawback J provision In the Fordney McCumber law and urging the enactment of that In the Dingley law. the Paine law and the Underwood law; Opposing the reduction of th' tariff on fiax seed of flax products or feeder cattle. . ~ MERCHANT CREDIT EXPENSIVE I I Investigations Indicate that farm*: ere may be materially benefited by demonstrating to them the losses they incnr through the use of mer chant credit instead of bank credit In conferences arranged by the Agricultural Commission, American Bankers Association. It has frequently developed that farmers in many tn-; stances are thoughtlessly carrying heavy burdens of mercantile credit. The cost to farmers of merchant ; credit often runs as high as 50 per | cent annually. The United States Department of Agriculture has made surveys of credit and Insurance eon ditloaa in North Carolina, la which eight hundred tanners were inter viewed, and which showed that 433 were relying on merchant credit. The average cost was 3fi.fi per cent, fig . nred annually. The average rate paid by white farmers was 31.fi per cent,; while that for the colored was 33 2 j per cent This difference Is attrfbnted to the smaller average amount of i credit used by the colored farmers, the greater risk Involved In credit to them and to an Inclination to take advantage of the less fortunate class.

Is It a Satisfaction? „ -—To kno-vyou are doing your binkiag business with Bn institution that is managed by REAL BANKERS, who understand how to conduct a bank, especially in times such as we are now passing through, and where your DEPOSITS ARE IN SAFE HANDS By Banti g ztiiA Mur State Bank you get this Satisfaction MIER STATE BANK ~ LIGONIER, INDIANA j A MILLION DOLLAR BANK I

I Horses On the Decrease. j Man’s chief beast of burden, the I horse, has decreased In numbers in ■ the world at large about 11 per cent In the last ten year*. Figures just | made public by the Vnlted States Department of Agriculture show a falling : nff in the total head in 83 countries* front 119,500.000, to 103,550.000. The decrease, however, occurred largely in Russia, where the decline was nearlv I 50 per cent, and the United States, where the total has dropped from 23,-1 145,000 in 1914 to 20,559,000. Russia’s | total in that year of 34.700,000 has ' dwindled to 18.507.000. giving the United States the greatest number. * Gains were shown in Argentina, Can- \ ada, Spain and the Scandinavian countries. ’ Pension Money Worth While. Soldiers of the Civil war now resld-, Ing tn Germany have been made multi- i ! millionaires by the receipt of pensions from the United States. During the • World war their accounts were sus- ' pended and the recent payments of ac-; I cumulated dues have-mounted as hicTi [ j as $2,800 for one person. That sum . amounts to more than 50.000,000 marks ■! at the current rate of exchange. i There are 229 persons in Germany and ; | ten in Austria drawing regular Civil ( war pensions from the United States ' and consequently they now rank I among the envied rich.—Pathfinder. Work Under Difficulties. Workmen are carrying out repairs , to the masonry at the very summit of ; Rig Ren. the great Westminster clock j tower in London, which is more than |, 800 feet’ high. A large Tudor rose re-1 i cently fell from the highest point of , the spire, and to reach the spot It was necessary to erect a scaffold 100 feet above the highest gallery. It was then found that five other roses were loose, and these have been taken down, re-1 paired and refixed. When there is a strong wind the work has to be sus- . pended.

.-J4* ELECTRIC ENGINE CONQUERS “* STEAM IN HEAD-ON TILT *4wsL ■ >% -• w ft A ’ *-W ' / I

Seattle, Wash.—Steam as a motive | power was forced to take second place ! to the more modern method of rail- ; • way transportation, electricity, tn an | Interesting test of strength recently , staged near Kent, this state. The struggle was staged by design ; and not by accident. and was arranged by the Chicago, Milwaukee and Bt. Paul Railway as a graphic illustration of the supremacy of the new electric locomotive over the best that standard steam operation could produce. Roth locomotives were taken from the servj Ice of the Milwaukee road; one was a giant 278-ton oil-burning compound ; engine, its opponent a 2<»-ton gen r I ess electric monster of the type used by [this railroad over ha mountain dlvlI slon*. No conventional tug-of-war was j possible since the drawbars are not I ntgde that could hold these two titans I pulling In opposite directions. Furthermore, the steam engine could not •tart directly and quickly ar almost maximum power, while its adversary starts on the simple throwing of a switch. So the engines were placed nose to nose. The steam engine began to push and with gathering power shoved the unresisting electric backward. But its easy progress was short lived, for as soon as the engineer of the electric let the “Juice" Into the copper coils of his powerful motor, unseen, unheard. resistless power came down through the wires from some far-off mountain river, set up first an Immovable barrier against the panting steam, ami then Just as easily silently, and surely it : pushed the battling steamer back until $

THE SYRACUSE JOURNAL

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lit was forced to acknowledge defeat, i Greater power, more suiouthiy ap plied. Is tlUe secret of the electricity * advantage over steam for motive purposes, and the only obstacle to practically uisiversai electrification of American railways appears to be that of first nst of installation. It takes f-VuOb to string a mile of transmission uriresi. and electric locomotives o<st five times as much as steam engines. While transformation from steam to electricity may not be Justified where railroads operate through comparatively level country and where traffic I* only fair In volume, electricity has economic advantages added to its desired generabillty in citleg where smoke, cinders and gases are objectionable, or where tremendous tractive power Is necessary such as mountain running. Because «r western mountain areas also attract thousands of tourists every summer, the railroad that operates electrically through the mountains has special attractions for these travelers. Its trains move silently. smooth and swiftly through the veritable itanorama, the full beauty of which i« unotacured by smoke, cinders or gases, and the open observation car Is entirely feasible. Eight years ago, when the **Mllwßu- ! kee" determined to do away with steam power on its mountain route, | electrification had flaw' adherents among the transportation engineers. 1 Today, however, the completed project is the subject of special and personal, study by engineers from all over the world. Edison has called It “the very last word iin transportation.*

: j — Interesting Experiment* Hava Show* v That Light Paint I* Beat for Ship** Bottom*. Some interesting results have been obtained by J. Paul Vlsscher in his study- of the fouling of ships* bottoms. These results Indicate that the color of . the paint used Is an important factor; in determining the amount of fouling. * Plates painted with different colors were exposed in sea water at the Beaufort laboratory and the development of the growths was observed over a period of several months. The plates were identical, except for the color used, and since all factors Infiuencing them were the same, it may be concluded that any difference in the amount or the nature of fouling was dependent on color. These colors Include white, black, yellow, red, green and blue. Tlie results show clearly that there was much more fouling on the dark plates than on those with lighter colors. The contrast between the white and black plates was especially marked. Barnacles, which constitute a large percentage of the total amount of fouling, yere especially affected by color. They were found only on the blue and black plates and were more abundant on the black. Hydroids were also practically confined yo the dark plates. The results are apparently explained by the fact that at the time of attachment of the larvae to these forms the organisms are negatively photographic, that Is, they tend to go away from the source of light. This experiment is in accord with observations made on the growth on ships’ bottoms where the densest growths are found tn regions least exposed to light. The notes and tentative conclusions are at present based on a limited amount of evidence, and it is expected that the problem will be more thoroughly Investlrated through experiments in which many of the less-known factors may be more definitely controlled. Fisheries Service Bulletin. |COAU MOW.!? st **Tha idea! I’U !<iy where I please!” • Cjrtoam »>«•* IFB® I

FgaBMBBBMMMBMMWBF ■ T iNTRGRXTYfyj Q s 1 * v 1 c 1 New Low Prices on Studebaker < Closed Cars Light-Six two-pass. Coupe-Roaaster $1195 Light-Six five-passenger Coupe $1395 Light-Six five-passenger Sedan $ 1485 Special-Six five-passenger Coupe $1895 Special-Six five-passenger Sedan $1985 Big-Six five-passenger Coupe $2495 i Big-Six seven-passenger Sedan $2685 All prices f. o. b. factory r! ■ ’ - Only the prices have been reduced. The quality remains the same. It is a Studebaker policy to share manufacturing savings with its customers. With the addition of another enormous unit to its $8,000,000 , Closed Car plants at South Bend, Studebaker costs are reduced and the purchaser benefits accordingly. In justice tayourself, you should come in and see what Studebaker has to offer before you decide qn any car. * | FLOYD HEDGES I I In SYRACUSE, INDIANA H . ■THIS IS A STUDEBAKER YEA R |

""" 11 111 1 " 1 111 Jeel I thisntWerm A Give yourself a treat! Get into an Overland Sedan and “step on it”! The sensation of power is wonder* fuL The bigger new engine makes you master of traffic and hills! And the Triplex springs (Patented) give the road comfort of a long, » heavy car. Before buying any car, find out how much better you will \ f | like an Overland. The price has just been reduced. Ask us for a demonstration. A. A- PFINGST I / Syracuse, Indiana Advertise in The Journal I ■ I .