Show RURAL CREDITS RIDER CHANGED HOUSE FRAMES substitute FOR FARM LOAN PLAN ACCEPTED BY SENATE aou would I 1 d provide system of farm loan associations to make loans on farm mortgages at t 6 per 1 cent interest inhere t washington A farm loan plan was IV written ritten into the agricultural bill by the house monday night after a long and vigorous light fight the rural credits amendment reported by the agricultural committee and generally accepted as having the sanction 0 of the adain admin was waa revised by a series of amendments which revolutionized the proposal As framed in the house the plan would provide for a system of farm loan associations formed in individual comma communities gitles to make loans on farm mortgage notes at not more than C per cent interest these associations would form federal land banks in districts district corresponding to tho the present federal reserve districts for the purpose of 0 f dealing in the mortgages held by t the he association and loaning to the afi upon these mortgages in these banks the government would havo have a supervising and under certain circumstances a stockholding interest they would be ba authorized to issue bonds based on their farm mortgage securities the tha crux of the fight in the house came on an amendment to authorize the secretary of the treasury to issue panama canal or other government bonds to the ilia amount of a year yei irto to take over the bonds of these cheso land banks the amendment was adopted in committee of the whole by a vote of to 41 44 tho the administration proposal was a substitute for the mccumber direct loan joan credits plan incorporated in the bill ta in the senate it proposed a of farm loan associations with a system of lend land banks under private ownership and control to handle the loans through the sale of bonds to the public dy by a vote of to 89 the house housa rejected i toe the mccumber proposition and then tho the perfected duckley amendment was agreed to without a roll call the tha bill was sent to conference ON THE GERMAN EMPERORS BIRTHDAY 5 4 this photograph of hundreds of germans lying dead on the battlefield between Sol and herry derry au bac france was vaa taken on the laisers kaisers kai sers birth day |