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The Banker-Farmer Volume 9-10

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1921 Excerpt: ...that this unusual government official recognizes that the time has come for the government to get out of business provided that we bankers are prepared to devise and furnish other means to lo...

Paperback: 444 pages
Publisher: (March 6, 2012)
Language: English
ISBN-10: 1130353982
ISBN-13: 978-1130353983
Product Dimensions: 7.4 x 0.9 x 9.7 inches
Format: PDF Text TXT ebook

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k after the needs of agriculture recently taken care of by this government agency. Mr. Meyer, who has always stood for "more business in government and less government in business," went even further than that, and in his report to President Harding said: "The dangers of over-centralization in banking are not to be ignored. The War Finance Corporation is a form of centralized banking power in its most extreme application, and while such a centralization of power and resources was suitable for the grave emergency that confronted the agricultural and banking interests of the country last autumn, it is in my opinion entirely unsulted to the permanent banking structure of the nation." In the meantime there is a loud cry from certain quartersI think mostly from members of Congress who are up for re-election and who desire to produce suitable literature for circulation among their constituents at home--calling for further legislation to alleviate the suffering of the agricultural section. These proposals usually come from perff-tly well intentioned friends of the r, most of whom do not realize that it is just as dangerous for the farmer to make it too easy for him to borrow as it is to deny him adequate credit facilities for the production and orderly marketing of His crops. It will avail the farmer nothing to receive an advance of from fifty to sixty per cent on his product from the cooperative marketing association if the banker or the merchant holds his note for the amount advanced on the crop, all maturing at the time of harvesting. In other words, we...