OCR Text |
Show trous to the farmer and the banker as well, and would be economically unsound." Mis address was given the closest .lUentiou and was enthusiastically received. Our taxes are unpaid; the county is more than GO per cent behind on taxes now in January. And yet seed is pooled, and liquidation delayed. Were that money in circulation funds would be on hand for taxes, schools, banks, merchants' accounts and all. THE NEED OF LIQUIDATION The following address was made at the opening of the State Farm Bu reau meeting, which is particularly applicable to Delta: Joel R. Parrlsh, cashier of the Farmers' State Bank of Woods Cross, told the convention that "under present pres-ent conditions the bank represents the keystone of the arch of commerce com-merce and the farmers the sources of the stream of business which flows through the arch." He went on to point out the importance of cooperation coopera-tion and mutual confidence on tho part of farmers and bankers, characterizing charac-terizing the two as the most important impor-tant elements in the country. Mr. Parrlsh spoke of the needs for liquidation and warned the farmers that he does not expect to see prices for -atricultural commodities return 'o their war levels. He likewise spoke on the daangers of the purchase by farmers of worthless stocks and stigmatized stig-matized the banker who would lend his influence or name to "wild-cat" stock-selling schemes. "While you produce one-third of 'he wealth of the country," lr. Parrlsh Par-rlsh said, "you are most poorly organized or-ganized as compared with the industries indus-tries and with labor." And in speaking speak-ing of the need for organization, Mr. Parrish likewise emphasized the danger dan-ger of such organization as Illustrated Illustra-ted by the Nonpartisan League of North Dakota, where, he pointed out, the widespread bank failures and other troubles had resulted from unsound un-sound practices. World Markets Rule "We cannot combine," he said, "to regulate the world markets for farm oroducts." He cited the competition with American farm products of Canadian Ca-nadian wheat and Australian wool to show the international scope of the influences which determine the markets for American produce. "We might Just as well make up our minds to write off a loss and the 'sooner we do that the sooner we will reach a sound basis," Mr. Parrlsh continued. Further he said: "As you know, the farmers, went to Washington to seek relief some time ago. The federal reserve law should perhaps be amended to permit per-mit more direct extension of aid to agriculture. But most certainly I would not advocate such amendments as would lead the reserve system to extending credit to agriculture for the holding of crops from the market. mar-ket. Such ft move would be disas- |