Show HARRI HARRISONS HARRISON'S WS BILL fOR fARM FARM- lOA LOANS S SIS IS If Measure Is Designed to Combat McNary Plan for Relief of Agriculture IS AGAINST TARIFF Would Authorize Loan of at I Interest In- In Interest g terest Rate of 4 Per Cent Cent WASHINGTON Dec 15 AP A AR-A A contender with the tile measure meat meat- meas- meas J ure for the farm rell relief reliCt f honors in the senate appeared appeared- today appeared today in the form of a bill prep prepared red by Senator Harlson HarIson Harson Har- Har 4 Ison lson son Democrat Mississippi proposing pro pro- JO posing ing to relieve a agriculture by pet per nitting the federal Intermediate banks J tb tov lend farmers 1 1 M l Denouncing the J Jan McNary Ic bill as asan as an espousal of the principle f of t pr pro tariff the Mississippi sen sen sen ator declared the real way to re- re relieve lieve leve agriculture was was b by bIb Ib liberalizing r 5 the intermediate credit cretU system to permit any farmer to to borrow money at low ow Interest to to hold for v H better lri es The l McNary bill a revision r vISIon of the tile McNary eq equalization Uon fe fee mei measure ur designed d grain to ln wider support wIllie support while retaining the funda mental elements of ot that proposal was was introduced yesterday In tha the s n t but was was- as held out of the the house hopper pending an agreement t l X among ng g proponents on a a n name m nie for tor it ft Sli Slin and i f fon on n c certain 1 ot its Ms provisions p t Representatives Purnell JJ i can tan can Indiana and Fulmar r. r Democrat South C Carolina t who were vere selected to give ihei heil names to If It In the house hOude t to indicate fe the broad applicability applicability of ot Its Us provisions were not quite l' l ready ady to proceed ut further further fur- fur ther consideration although both 1 were In favor lavor of th time the plan a Agriculture turo ture committees of 01 both houses are expected to begin hearings on the i month kr measure next rH Under the Harrison bill the cap 1 9 Ital Ita stock of of f th tile the twelve intermediate Xv fate f- f ate credit banks would be Increased ased AV 1 from t to each X with authority for or ea each h to make mako V i loans up up- up p to ta times ten its Us capital capital- 7 f stock 4 PER PER CENT INTEREST Ti The t t would be fixed per cen cent and loans could b be made on 85 per cent n of the marke value of or the product JaW JaW- law aw requiring m the intermediate nt banks to lend Mend only to organizations would woul bo be broadened to to permit the banks to m make k loans r oan 6 r tp Individuals individual and corpora Continued on T. T s 's HARRISONS HARRISON'S DILL BIll fOR fARM lOANS IS H Continued from page 1 1 with warehouse receipts or shipping documents as security Al All agricultural products are In Included Included In- In eluded in the bill with a particular provision for cotton authorizing loans on all grades Including low grades that are now barred from loans A A great gleat emergency now exists and every ever reasonable credit should hould be extended by the government to aid and assist Senator Harrison declared in a statement I I am against the McNary-Ilau- McNary uv Ic ary Ilau- Ilau gen bill because It seeks to fo perpetuate perpetuate perpetuate per per- the protective tariff principle principle principle prin prin- ciple upon the country countr There can be no doubt that agriculture today Is la the one Industry that languishes The condition is due primarily to the protective e tariff system The purchasing power of ot the farmers farmers' dollar toda today ic is around 65 cents while that of other Industries fostered b bj by the protective tariff Is ts from 2 to 2 25 If the present tarIff tariff tariff tar tar- iff system should continue that disparity will Continue to widen Instead of the south and ind the a agricultural art agri ri- ri cultural west wanting to perpetuate It as is done in the Hau McNary-Hau- gen bill those of every section In Interested Interested interested In- In In agriculture ought to tomake tomake tomake make a common war way against the system |