The watchman and southron. (Sumter, S.C.) 1881-1930, March 18, 1916, Image 3
?
Hjlll IUI IMC PAtfKIi DKCLA?
ftM MMmoo nmaciLTo
PARS Or tTAVfi.
RseonUy Emm tod tnto Lew
Decide to Bring Teet
It of Me OmmUI
Colembes. March 1?.?A permaacat
tosses*lift it* to obtain tht sentiment
Of tha people of South Carolina In
gerd la the Insurance situation wee
et?a|Sa fcseerday at a call od mooting
a? represeatatlves from various com
ajsntal orgaala%Uoaa in tho Bute.
Which la a resolution dsclartd that
fjm Vaeog free? aaetumro "Is Inimical
to the buslaoos and farming Interests
It was rocommended
Haag Haasaa eonosrtod action
at once, looking to
?sat thai "?
Che issssUirstion of the same."
To the* end. William M. Otis of
Calagaasa, ahalrman of the meeting,
woo selblMb)** to appoint one per
sea ha each county who shall arrange
for a JatJrt meeting of the business In
ootamerical bodies, farmers
?n for the
las; the present alt-.
appropriate
Matt waa vested
to Institute a suit to teat
ssootleoUsnsllty and validity all
saw.
I of the meat hag was
unanimous ha oppoeiUon
to tha Lenay-Qdom haw. Tha sug
for tha formation of mutual
lea to cere for tha shortage
of hmorance was elasse a sevsaoosnr;
M Was hold asm that tha dearth of
I lawseejueee would cause some -cities tn
* bankrupt; thai U
fitting and loa*
awl ol business; that the
of the & S u. a wpui4 not
raise., that the failure to
attain hasarooVs would miliute
ptsmnlnsll/ against tho farming and
mttessuu ^jfiiojic
Tht meeting, however, which was
hp It] registered delegates
It of the 44 counties, was not
aat aided. F. H. McMas
comntioslonsr, was
I
hoard at length In out wing his posl
Ham towards tho measure. R. B.
mt wMftar. a member of tht
who fought for tha bill
la aha hopes,
tho resolution and
itst^taiaed^th the general aasem
stsp judgment"
tho measure. All the other speak
l however, with one exception
of tho seriousness of the sit
throagh the withdrawal of the
and went mto various
of the results of "no
I
mooting y ester day was felt hol
to bo premature and for that
_ sa tha resolution did not take
tho form of di fart to action, but sug
a plan ua order to reach a
km at the latest possible mo
Tho snggwetlosV to call an ax*
of the legislature In the
future was also discountenanced,
so It was hold that steh an action
shoo Id come only after mature* con
afdwmtion snd after the demand far
M had come from the people ol tho.
very small percentage of the
-tee at the meeting wire 1 neur?
onen or underwriters, as it
hoped by Columbia agents that any
agitation that nught rtsult In the
modification or repeal oJ the statue
would come from tho commercial and
The mooting was called to order at
aeon. Tho chairman told of the move
by the Union Chamber of Commerce
la getting tho meeting together.
William M. Otis of Columbia, presi?
dent of tho Columbia Lumber A Man?
ufacturing company, was elected
choirraan. The vice chairman and
secretary elected were B. P. McLeod
of Charleston and A. O. Kennedy of
Unit?, respectively.
A. V. Snell. secretary of the Char
lestoa Chamber of Commerce, sug?
gested thai representstlvee from Verl?
ane sections state their views on the
business situation created by the antl
compact saw. He also said that the
speeches should be limited to ten mtn>
utes. The suggestions were put In I
tha foim of e motion, which was
carried without opposition. Cards
were distributed to secure the names
of ail oeleaates present.
Mr. Otis said that the meeting was
for the purpooe of hearing from the
commercial Interests In regard to tht
Ingeraace situation
Julius H Well, a wholesale mer?
chant, shearman of the Charleston del?
egation, said that many of tho small?
est Interests of dally life are affected
by |he low. "We have bom almost j
papje stricken at the withdrawal of
the coot pen lee," he deelsred. He said
that unleee satisfactory Insurance col
!*mral could be srranged bankers
would be forced to call In loans that
tend to put now solvent firms In
see said that the same
applied to other money lenders. He
I argued that the law should be amend?
ed to, pejeodt tta comnaMtt to ntur*.
He said. that tka, "people are not yet
?roused.' but that they will soon be?
gin to aak questions of those responsi?
ble for the enaotroent of the law. He
also pointed out the loea of tftati and
municipal revenue.
I J. D. Evans of Florence said that
la couuoll meeting Information had
been gl von that a ItO.ouo loar. had
bean withdrawn; ha also oited other
smaller instances, ail resulting from
tho withdrawal of the companion. He
believed that the people of Floj<ence
are in doubt aa to the couree 1o be
pursued but felt that the criaia hat not
yet been reached. Mr, Evans aug
, footed th > circulation of petitioni tor
aa extra session if the sentiment, of
the ?Ute warranted it.
"York oounty favors the abolition
of the 8. E. U. A., hut a less strin?
gent law," said W. B. Moore, who
said that he thought a great deU of
tho present situation la "stage fright"
and that Ue himself had no fears He
did not want an extra, session of the
legislature called hut wanted to see
a liberal Interpretation of the la<*.
George H. Edwards of Darlinirton
pointed out that tho large, risks and
special Interests would have little
trouble In getting Insurance but that
the small Insurers would feel the ef?
fect of tho law most He called at?
tention to the building and loan as?
sociations, before whom a small in?
surer can only place hit moral char?
acter, his brain and brawn, as col?
lateral. He was applauded as he
touched on the ways tho law afflict?
ed the small Insurer who owns a
small home. The mutuals can not
handle one-hundredth of the insur?
ance," he declared; 'that view la
visionary." Mr. Edwards said that
the meeting would show the senti?
ment of tho business interests.
Charles O Hearon of Spartanbu rg,
editor of the Spart&nburg Herald,
said that the directors of his Cham?
ber of Commerce had taken no ac?
tion, first wanting "light." "There la
a division of sentiment," he declar?
ed, "and there am two sides." :tie
told of tho many views heard by
newspaper men. He elao aald that
mutual companies could not handle
the business and that the experience
with such companies la ftpartanburg
county hod heap unsatisfactory.
r. D. Blaght of Hartavllle aald that
he felt a number of people are
pleased with the abolition of tile
a E. U. A. He suggested the a.p
potatment ef a committee to oonfwr
with the companies.
Joel a Moree of Abbeville aald
that his section Is "awakening and
aroused." "If the companies cancel
their risks the town of Abbeville will
be bankrupt;" said Mr. Morse, who
pointed out that three agencies he
knew of had been put out of business.
He aald that aia building and loan
association would have to go out of
business if it could get no insurance.
Legare Walker of Summerville, a n
attorney, spoke of the farmer, "who
always suffers when the legialatura,
goes wild on some scheme." He said
that this meeting Is somewhat prema ?
ture and pre*Noted that when tho
measure touched the ?'armor no tue
ceedlng iegi??i t ? juld enact such
drastio legU
"What arc 16 aces of land and
several buildings without Insurance
worth?" Mr. Walker asked, as he
told of his experience In refusing a
loan of $1,000.
"If those Insurance companies
thought they could continue businesi
they would not have withdrawn," he
asserted. "It speaks well for the in?
telligence of the State that no appli?
cations have been made by South
Carolinians to form companies. The
old line companies have lost money
and it stands to reason that we people
can not make money."
"I do not think that Mr. McMaster
and the governor should attempt to
construe the law; the courts ars here
for that purpotie.
Mr. Walker said that the agents'
commissions Irom those companies
that have already withdrawn amount
to 9100,000 s year.'
"Unless something la 'done the
farmer will'suffer," he declared.
B. F. McLeod of Charleston said
that the margin of profit of Insurance
companies in South Carolina was so
amall aa not to Induce Investments.
Mr. McLeod said that he waa assured
of the withdrawal of 68 companies,
which in 1914 wrote about $158.000,
000 of insurance.
Mr. McLeod sttd that sn extra ses?
sion would coot about 940.000 and
that the repeal of the anti-compact
'law would offaet thla expenditure. He
'pointed out the loases to municipali?
ties.
"Ws need all the credit we can
get," aald Mr. McLeod. "and we need
Insurance protection." He said that
Without Inaurance, credit would be
greatly restricted.
j A. T. Smythe. an attorney of Char?
leston, took up the brokerage featuro
of Inauranco, pointing out the legal
procedure of auiag a company not
licensed In thla ?t?te, whenever the
company disputes a olaim. He aald
also that after April 1 the Inaurance
la forow would not be under the au
pervlalon of any one In tbla State; he
said that the companies might cancel.
F. H. McMaster, insurance commis?
sioner, was requested to address the
meeting. He said that he was not a
politician and was without political
ambition; he said that he was not per?
sonally interested financially in Insu?
rance.
He said that in 1909 he was present?
ed with a bill to drive out the 8. E.
U. A., but was undecided; similar
measures were presented to him in fol?
lowing years, but these, too, he put
aside. He said that the 1912 bills
."killed by the Insurance companies,"
'provided for competition. He told of
the bills Introduced through him in
1915, the bill of the National conven?
tion of insurance commissioners.
"I had absolutely nothing to do with
Mr. Laney's bill." he declared. "His
bill and my bill were considered at tho
same time; my bill was reported fa?
vorably and was not, I think, opposed
by the agents. The Laney bill con?
tained a provision contradictory to my
own, to which I had become con?
verted only after mature thought I
was accused of fa\oring the S. E. U. A.
by my bill; who fought that bill?
Senator McLaurin, the independent
companies of Greensboro and others
fought that bill. It provided that
I every company licensed in thla State
oln a rating bureau,
j "The Laney bill, much to my sur?
prise, passed the senate almost with?
out opposition; It had been reported
without recommendation. The house
by an unprecedented action referred
the Laney bill to the committee on
agriculture and took it away from the
committee on banking and Insurance.
"There has been a continual effort
to put the 8. E. U. A. out of the
State," Mr. Mc Master said. "The
companies did not withdraw before,
why do they do so now? If the bill,
I told the governor, did away with t he
irritation against the S. E. U. A. It
I would serve a good purpose."
Mr. MoMaater told of the matter A
insurance In the courts. Mr. McMas?
ter went into a discussion of the pro*
\1slons of the bill, reiterating his state?
ment of Friday in construing the act.
"I do not pretend to make insur?
ance rates," said Mr. MoMaater, who
pointed out that no company could be
forced to Insure a risk. He went into
the difference in rates given by the
F. I. A. and the 6. E. U. A. "No In?
surance commissioner can declare a
rate unjust without comparing II with
rates on similar hazards," he said. He
defended the anti-rebate feature, com?
paring it with the similar provisions,
I section 898, of the criminal code, re?
garding life Insurance.
Mr. McMaster said that local ageuts
could get together to determine lhe
method of payment of premiums on
essentially the same hazards. Thla
construction of tho law was question?
ed by Mr. Walker. Mr. McMaster said
that many companies took the moral
hazard into consideration.
Mr. McMaster said that it is "too
early in the game to know where we
are."
j Mr. McMaster denied having any?
thing to do with the provision ax?
le mp ting thf warehouse commission
from the act.
j He pointed out that hie under?
standing Is that the companies will
be allowed to adjust losses without
I embarrassment in the performance of
(their legal contracts after April 1.
He said that he had taken up the
matter with the attorney general.
"Mr. McLaurin will have to spea.lt
for himself," said Mr. McMaster? on
I being asked about tho warehouse
commissioner's promise to care for
all insurance ...
"Mutual insurance properly man?
aged, is about the cheapest kind,"
said Mr. McMaster, who said, how?
ever, that he did not know what all
Insurers are going to do.
E. H. Poulnot of Charleston, a
merchant, brought up the question
of mercantile risks. U was pointed
out that mutuals take only certain
selected risks. '
Mr. McLeod moved the appoint?
ment of. a committee of five.to pre.-,
paro a resolution to represent the
sentiment of the meeting.
Chairman Otis asked for. nomina?
tions to the committee. The follow?
ing were nominated: A T. Smythe,
Legare Walker, W. B. Moore, of York,
George H. Edwards of Durhngton and
Mr. Otis.
The meeting ordered a recess at
2:50 o'clock until 3:45 o'olock.
On convening in the afternoon the
resolution quoted elsewhere in this
connection was presented.
R. B. Holser of Sumter, a member
of the legislature, spoke agalst the
resolution, saying that he objected to
ths phrase designating the bill as
inimical to the business and farming
Interests. He said that the legisla?
ture did not pass "snap Julgment"
on the measure. He maintained that
the resolution should not be passed
without further consideration.
"We do not know how far the in?
fluence of the 8. B. U. A. extends/'
said Mr. Heiser, "and if WO gjvo in to
them now wo will forever be in tbe.r
grip." He argued that the action of
the legislature followed the actlors
of the 8. E. U. A.
"We would be tho laughing stock
of the United State"*" declared Mr.
Belser, "if we cante back here in the
near future to repeal what we re?
cently enacted."
Mr. Belser was continually inter?
rupted; several efforts were made to
call for the resolution, but on motion
Mr. Belser was given his full time.
The resolution was passed on a di?
vision vote, Mr. Belser alone oppos?
ing It
Conference to Be Permanent.
The resolution passed was as fol?
lows;
Representative* of commercial
bodies In South Carolina, at a confer?
ence yesterday In Columbia, adopted
almost unanimously resolutions, as
follows, drafted by a committee con?
sisting of William M. Otis of Colum?
bia, chairman; A. T. Smytho of Char?
leston, Legare Walker of Summer*
ville, W. B. Moore of York and Qeo.
H. Edwards of Darlington:
"Resolved, That the temporary of?
ficers of this meeting be made per?
manent, and that they shall be ex
offlclo members of a permanent com
Imlttoe of five, the two other members
to be appointed by the chair, and that
I this committee be, and is hereby
charged with the duty of carrying
into effect the plan contemplated by
I these resolutions :
"Resolved, further, That it is the
sense of this meeting that the act
passed at the last session of the legis?
lature In reference to insurance,
known as the Laney-Odom bill, is Ini?
mical to the business and farming in?
terests of this State and to the proper
development thereof, and that some
I concerted action should be taken at
once, looking to the consideration of
the same.
"Resolved, further, That the chair
appoint one person In each county In
this State and the person appointed
be charged with the duty of providing
for a Joint meeting of the business In?
terests, commercial bodies, farmers
and legislative delegation at his coun?
ty seat at fhe earliest date possible,
with a view of having such joint meet?
ing carefully discuss the present sit
! uation and suggest some appropriate
remedy therefor.
Readlved, further, That the said
committee in their discretion shall
have the right and is hereby Invested
with authority to confer with such
State officers as they may deem
proper, In the exercise of their duties
under these resolutions, and further to
I submit/ the question to such attorneys
as they may see fit to pass upon end
advise them as to the legality of the
said act and the propriety of lnstitut
ina; such action as may be advisable
to test?he constitutionality and vali?
dity of 1me same."
I MA YES VILLE ELECTION NEAR.
No Candidate* Are Forthcoming,
However?Baptist Charge Growing
?Coiisiderabie Fertilizer Coming in
Mayesville, March 14.?The annual
town election is fast approaching, the
I date being set for Monday, April 3.
The books of registration have been
I open for several weeks and most of
the qualified electors have enrolled. So
far, thcro have been no announce?
ments by candidates for any of the
places on council but there will prob?
ably be a number of candidates out
before the lists are closed on March
27, one week before the election.
This year there will be no nominating
convention as has been customary in
the past for this old form of nominat?
ing was abandoned last year. The
candidates will now come out them?
selves and run in a primary. While
Mayor Womble has made no state?
ments, it is thought that he will offer
for reelection. He is a most popular
citisen and will be hard to beat if he
decides to ask for another term.
The Baptist congregation which is
{growing under the pastorate of its
popular minister, the Rev. J. W. Guy,
will hold an Interesting service on
next Thursday evening in connection
with the regular prayer meeting when
the newly-elected deacons will be In?
stalled. The pastor will be assisted
on this occasion by Dr. John A.
Brunson and the Rev. W. E. Thayei
of Sumter, which will add much in?
terest to the services. The deacons
to be installed are: S. W. Wheeler, F.
J. Bass, T. B. Fort, S. W. Pringle.
Quite a lot of fertiliser Is being
shipped here and hauled out by the
larger planters although at one time
It was said that there would be little
or none used. However, the quantity
used hereabouts will be considerably
reduced. The farmers are steadily
at work getting ready for planting.
The usual large acreage In grain will
be sowed and about the same acreage
In cotton as was put in last season.
The lumber nldustry is flourishing
ip this section at present. A larger
amount Is being shipped from here
than In a number of years. Two ex?
tensive tracts of timber, the Mc
Hrlde and tho Witherspoon tracts, are
being cut now.
Trains from the Seaboard Air Line
main line passed through Sumter to?
day, being detoured by here between
Hamlet and Columbia because of the
burning of u trestle over Lynches
river,
SMIIH INTRODUCES BILL.
TO AUTHORIZE THE WITHDRAW?
AL OP WATER POWER
PLANTS.
Would Allow Manufacture of Nitrate*
and Other Fertilizers?Measure
Brought Before Senate is Consider?
ed as One of Prime ksiportanoc.
Washington, March 12.?Senator E.
P. Smith introduced the following bill
to authorize the designation and with?
drawal of water power sites and the
j construction of water power and other
plants by the United States for the
manufacture of nitrates, and other
products useful in the composition of
fertilizers and munitions of war:
"lie it enacted by the senate and
houae of representatives of the
United States in congress assembled, j
That the president, at any time, in
his discretion, may, by executive or?
der, designate, for the exclusive use
of the United States, any site upon a
navigable river, the improvement of
which for purposes of navigation will
make available at such site surplus
water power over and above the needs
for navigation. After being so desig?
nated, and until the designation is
modified or revoked, and for the pur?
poses authorized by this act.
"Section 2. The president may also,
at any time, in his discretion, with?
draw from settlement, location, sale
or entry; and reserve for the exclusive
use of the United States, including
the " territory of Alaska, whether
within- national forests or other re?
servations or withdrawals, which are
valuable as water power sites for the
purposes of this act or which contain
limestone, phosphate, coal, or other
minerals or materials needed for the
production of nitrates, or other pro?
ducts, * as contemplated in this act
"Section 3. The secretary of agri?
culture is authorized and directed to
investigate, and to recommend for
designation, or withdrawal, such dam
sites, water power sites, and mineral
or other lands, as in his opinion will
be necessary for carrying out the
purposes of this act and is further
authorized to construct maintain, and
operate; at or on any site so designat?
ed Or withdrawn, dams, locke, other
improvements to navigtation, power
houses, and other plants and equip?
ment necessary or convenient for the
generation of electrical or other pow?
er and for the production of nitrates
or other products useful in the manu?
facture of fertilizers and; munitions
of war: Provided, That all plans
and specifications for dams in navi?
gable rivers shall be Submitted to and
approved by the secretary of war,
"Section 4. The secretary of agri?
culture is authorized to lease, pur?
chase, or acquire by condemnation,
gift or device, such lands and rights
of way as may be necessary for the
construction and operation of such
plants and to take from any lands of
the United States or to purchase or
acquire by condemnation, materials
and minerals necessary for the con?
struction or operation of such plants
and for the manufacture of such pro?
ducts.
"Section 5. The products of such
plants shall be subject to requisition
by the secretary of war or tho secre?
tary of the navy for military or naval
purposes, and any surplus not so re?
quisitioned may be sold and disposed
of by the secretary of agriculture un?
der such regulations as he may pre?
scribe.
"Section 6. The sum of fifteen mil?
lion dollars is hereby appropriated,
out of any moneys In the treasury not
otherwise appropriated, available un?
til expended, to enable the secretary
of agriculture to carry out the pur?
poses of this act."
Explaining his bill, Senator Smith
said:
"One of the objects of my bill is to
give the government the power to be
absolutely Independent of private cor?
porations in time of need for the mu?
nitions of war. It takes away from
private corporations the temptations
to use their influence to instigate war,
if by war the commodities which they
manufacture will be in great demand
and at high prices. On the other hand,
it will enable the government to sup?
ply the elemental need of the farm,
the prime essential to all successful
agriculture, fertilizer for the soil.
"There is nothing that the govern?
ment can do which will give as imme?
diate return as furnishing an adequate
supply of fertilizer ingredients at the
lowest possible cost. It will not only
tend to lower the cost of living, but it
will tend to liberate the farmers of
the country from absolute dependence
upon certain organized fertilizer com?
panies. I do not believe that all of
the government's aid to agriculture
approximates the possibilities of this
bill.
"Of course, I do not intend to min?
imize the benefits that would accrue
to the government and through the
government to all of the people, by
furnishing, as my bill contemplates,
an adequate supply of materials for
the munitions of war. I am heartily
in favor of the government having its
own factories for the manufacture of
armor plate f^r the protection of her
NITROGEN FROM ATMOSPHERE.
Big Fixation Plant at Odda, Norway.
Reveals Process on Large Scale.
Chrl8tiania. March 13 (Correspond
ence of The Associated Press).?The
process of withdrawing nitrogen from
the air for use in manufacturing arti?
ficial fertilizers and high explosives
may be seen in operation at the new
?0,000 horsepower plant at Odda, in
the Hardanger Fiord.
The separation of the nitrogen
from the oxygen In the air Is accom?
plished by compressing the air into
liquid form. The nitrogen, which
boils first at about 320 degrees below '
zero (Fahrenheit), Is led away by
specially constructed mains, and the
oxygen, which boils at about 295 be?
low, is utilized on account of Its In?
tensely low temperature, to assist In
the liquefaction process. Ultimately
it escapes into the air again.
The nitrogen gathered in this man?
ner is put into form for use by com?
bining it with calcium carbide, a sub?
stance known to practically every
automobillst owing to its offensive
odor. Carbide is mad* by fusing
limestone and coal In the intense heat
of an electric furns.ce. The operation
can only be performed where elec?
tricity is very cheap. ^v~hen carbide
Is heated In an atmosphere of nitro- "
gen it absorbs the nitrogen, forming
a compound known as nitrollm. This
is the new fertilising product which
Norway is now producing- on a whole?
sale scale.
The power for the gigantic Odda
plant is furnished by the nearby
waterfalls. The lime end coal are
fused together in a serien of furnaces
each employing 3,000 horsepower. All
the pyrotechnics of a steel furnace are
eclipsed when one of the great Odda .
crucibles is tapped, for the molten
carbide pours forth with a glare that
no man dare face with unprotected
eyes.
Meanwhile the production of the ni?
trogen is being pursued in another de?
partment. Air for the purpose is
drawn in great inlet pipes from the
mountain tops. Thie was found nec?
essary because the air in the valley (
around the great works was found to
contain traces of acetylene gaa from
the carbide. Acetylene gas under
presure is dangerously explosive, and
even a trace of it in the liquefaction
plant would be likely to cause the
destruction of the entire plant.
The nitrogen from the liquefaction
plant is turned into cylinders filled
with powdered carbide, which are
heated from the centre by the passage
of an electric current through a piece
of carbon, and as the temperature
rises the carbide absorbs the nitro*
gen and glows with the heat el
chemical action. The result Is nitro?
llm, the artificial substitute for nit?
rates and natural fertilizers, and the
starting point of another process for
ths production of nitric acid and cer?
tain high explosives.
The Newe From Egypt.
Egypt, March 14.?Everything has
been extremely quiet in Egypt for
some time. Lagrippe has been keep?
ing the doctors busy almost ever since
Xmae. Nearly everybody In this
community has had it, or has it now.
Most of the farmers have about
finished breaking their lands for an?
other crop. Very little fertilizer has
been hauled yet. The Indications are
that there will be but very little used.
Nearly all the farmers here have de?
cided that they have been working for
guano factories long enough. I nev?
er have seen the people here at?
tempting to make so much home?
made fertilizers before.
Mr. and Mrs. Sam Folk of Provi?
dence visited Mr. and Mrs. M. W.
McCaskill, the latter's parents, last
week.
Mr. J. W. Weldon has gone to Blsh
opvllle to attend court today.
Misses Luclle and Wylepe Brltton
of Camden visited Mrs. F. G. Peeblee
yesterday.
Messrs. J. K. Richbourg, W. T. Mc
Leod and L. H. White spent Saturday
In Camden.
Mr. M. W. Seebrook and Dr. Lee of
Sumter were in this vicinity recently.
Miss Maud Attaway of the Ionia
school spent the week-end with her
parents at Spring Hill.
Mr. Arthur Nettles of Lugoff spent
the week-end with friends here.
Supt. J. T. r.I'innerlyn, of Blshop
vllk, accompanied by his mother,
spent yesterday with friends here.
Marriage License Record.
A license to marry has been issued
to A. C. Cooper, Sumter. and Mattle
Montgomery, St. Charles, colored.
battleshlpH and other necessary ves?
sels. My bill simply completes the
operation by seeking to furnish the
nocessary munitions to put these ships
into the proper action.
"The amendment which I secured
to the present federal reserve act
largely solves the problem of credit,
or ready money, as a loan to the
farmer. This bill now will help in?
crease his bank account by reducing
the cost of the prime essential In
farming and increasing the products
of the farm."