Show ull U S government GREATEST BANKER runs fifty two financing institution institutions with investment of two billion dollars thir ty nine agricultural A biggest banker today li Is A the federal government which Is I 1 now operating fifty two financing institutions tut ions says professor john hanna ot of columbia university in the american bankers association journal forty ot f these are owned entirely by the government he says in twelve more the government has already a two thirds interest thirty seven are intended to be permanent ot of the permanent on ones es and fourteen ot of the temporary ones are agricultural the capital stock held by the united states state in these banks has a par value of 0 the governments Govern menta total investment Is nearly resources resource ot of these institutions exceed in addition the th government has detailed supervision over fifty one mortgage banks operating under federal charter the government also supervises local agricultural loan associations eions with federal charters charter all this takes no account ot at the relations ot of the tb government to the twelve federal reserve banks nor of 0 the authority recently given to the reconstruction finance corporation to buy preferred stock in national and state commercial banks the president has ordered the consolidation soli dation of the agricultural credit agencies into the new farm credit administration says professor hanoa hanna lie ile expresses the opinion that beton before the consolidation of the agricultural financing agencies too much machinery had been created to administer the financing institutions which the government either owns or supervises existing institutions represent a considerable differentiation of 0 function and any consolidations should be preceded by a careful survey of the actual activities of the various institutions he continues the only consolidation soli dation the administration has an bounced is that of the agricultural credit agencies in the farm credit administration As a permanent solution this arrangement Is too closely bound up with politics A better scheme would be to create a finance corporation under federal charter to take over either the agricultural fin finance slice activities of at the govern mentor all its lending agencies the governments financing and banking activities should be kept severely seve iely apart from subsidy and other schemes tor for raising the prices of farm products one Is business busl nesi the other Is 1 major political policy the advantages advantage ot of the corporation over bureau con control tr tor for the business functions are real and significant |