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Show BANKERS OPPOSE ATTACKS ON MONEY CENTERS I cniTiciai by U. S. 0FFICIM. IS KITED JH Comptroller Williams1 Sta'e- g mcnts Brinci Report Con- ?T1 demning Attacks FINANCING FARMERS $Bi SUBJECT OF ADDRESS ad Cankers Tn!d o Channe Atti- tude Toward Cooperation Bfli Marketing WASHINGTON'. Oct. 22. DISCUS Kions by the American Bankers' bsjjo- H elation of criticisms levellid it rer-tain rer-tain Now Yori: bonks iv of Currency Wll'tnms culminated o- UJ daj In I he adoptlo H association's resolutions committee H condemning "dangerous attacko" by fl unnamed Individuals on the credit H (Structure of the co a n t r . jSH HEATED Dlfik i BSION. H Presentation of the report brought j H on u healed discussion. beverUl mom-1 bars maintained thut the convention H itself was not Interested in the coh-l H trovsny which has grown nut of: H Comptrolle r Williams' charge thai H tain bankers had received inordinate rates of Interest on cull lonnn. H The resolutions committee n pori es H pressed complete approval Of the fled- H eral reserve system; condemned any I H effort to use the government funds orj H forces to aibltiariiy hold up or to force H - down prices or otherwise "to Interfere H wiili normal li.flu". ces"; H recommended the elimination Jt ihej H excefcs profits tax as unequitable and, 1 of the surplus tax because "it nets na H .i brs ke on product 1. the efforts; of the members toward the HH opnlng of foreign marketa through I H extension of long term credits or other ' H means." HH REPORT N RAIIiROAJIS, H The report condemned "Speculative I HM hoarding" in agilcultur or other In- H lus! rles, renewed the recommendation! H for a national budget system, and ex-1 B pressed the association's complete dis-approval dis-approval of nationalization of Indus- H try, particularly SS contcmilated by 1 the I'lumb plan. 1 The a si .Delation, through adoption of W resolutions, went on record as oppos-' B ing "further participation of the gov- M;; ernment In business enterprises." and i H referred to the alleged extravagant Hl losses resulting from government oo- erutlon of railroads, bgfl IMMIGRATION REPORT. B While favoring Immigration as means of preventing labor shortage 1 and enabling the development of re- sources, the committee report as B adopted recommended caution in the admittance of aliens In order that the country's welfare and its ideals might bo Safeguarded A five J ear program for construc tion of national highways was ir.dorsi d H The report in conclusion expressed the j opinion that the United Btates faced Hj 1 ' world lead p H V . perlty which could only be lost "by in-teinal in-teinal strife or failure- ot national Ic.uJ- J WASHINGTON, Oct. 22. Financing1 H the farme rs of the country in the niar- j ketlng of their crops demands new ifH methods of extending credit so as to prevent unjust price depreciation, and iJJfJfJfjn to lower the cost of financing him, jBH Henry M. Roblnaon, a banker of Los BjBjBU Angeles, declared today in addressing BjBjBjJJ he convent Ion of the American Bai k- BjBjBJI era' association. Banking machine j BjBjBjn establishment by producers of cooper-1 atlVe agencies were suggested as at- BjBjBH iH "TheSh are many evidences," declar- BjBjBJ ed Mr. Kobluson, "of growing dlt BjBjBJ faction on the pan ul the ,,, BjBjBjJ or many commodities who claim that BjBjBJ they aie bt ing descrlininaied against BjBjBjJ by banker or tbuc In control of credit BIBB facilities ud there is constant aglLa- BBB tlon by such producers for an i xten- BH sion of the principle of cooperative BBB marketing to remedy or at least re-1 BJ lleve th situation MVSn 11KE7I PROR I M BH "Hankers must meet this pioMetn BB There must be a modification of the BH old attitude. Whether this should be: BB done through hanking machinery or. BBj through proper cooperative marketing, BBB remains to be decided. However; some BY. method must he davUssd for rdduclng the pressure on the producer which forces him to dispose of his crop. Hbm BBv completed, or while Its movement la under way as this has been too often used ,is a means for price depreciation j Methods also must be discovered for lowering the cost of financing him." J The tendency of the cooperative or- BKBJ ganiui t Ions of producers toward use J ot th.ir great power to the dls.nl ,. BBjB tape of other producers. Mr Robinson BBV suid. Regarding current practices in the1 H' movement of grain and cotton. Mr. Koblnson said: "For ma&y years it has been uccept-BBEj uccept-BBEj ed as a part of the bbllgation of the BBB banks of the country to finance the BBli movement and storage of grain, but BBU no commodity, considering its lmport- BH4 aaoe, has shared as little In the finan- BBU cuil resources of the country as has BB otton this principally due tp the' PHi i-ck of an adequate warehouse rii LaBBj in the production area and lack ol an I open market for paper issued against BBl the product. i "In tho present emergency, reijuir- BB lug the rationing of credits, q meaa- BBft ure of flnanclul support proportionate BBj to cotton's contribution to the credit j LVgVM resources of the country mid with! NBB proper consideration for the delays In! lJH moving exportable Kurplus because of I we low ebb oC European credit should I jfT jbegAtn." BaaBii |