UP AGAINST IT
AMERICAN WHEAT-GROWERS
PRESIDENT PROMISES HELP,
(UNITED PRES3 ASSOCIATION. COPIBIQHT.) (AUSIBAUAN-NftV ZEALAND CABLB ASSOCIATION.) , • .WASHINGTON, 23rd Jan. President Calvin Coolidge has sent a special message to Congress stating that economic conditions in certain wheatgrowing sections of the North-west, where' a considerable number of banks have failed recently, due to frozen credits (credits which are not immediately available),, arc rapidly approaching a state where the grower can see his farm being wiped out. The grower's greatest need was to diversify his work, but he was so badly sunk in debt that he could not secure adequate funds to reorganise himself for general farming. The President has asked Congress to pass • legislation authorising the Federal authorities to cooperate with ■ banks, railways, and mercantile establishments, to remedy the situation, which seriously threatens the very life of an important' agricultural industry. • The President, however, emphasised the fact that the Government cannot undertake to mak« large agricultural loans, but believes that a scientific, economic plan under which the growers' old debts can be funded, will make possible his recovery.
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https://paperspast.natlib.govt.nz/newspapers/EP19240125.2.59
Bibliographic details
Evening Post, Volume CVII, Issue 21, 25 January 1924, Page 7
Word Count
176UP AGAINST IT Evening Post, Volume CVII, Issue 21, 25 January 1924, Page 7
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