Show U S government GREATEST BANKER runs fifty two financing institutions with investment of two billion dollars thir ty nine agricultural A AMERICAS biggest binfor today la 18 the tha federal government which Is now operating fatty two financing ansti tut tona ions says proffesor profesor sor john hanna of columbia university in the american bankers association JD joninas forty of these are aie owned entirely by the government go eminent he says in twelve more the government has at al ready a two thirds interest thirty seven are arc intended to bo be permanent twenty five ne of the permanent pei manent ones and fourteen lou iteen of the temporary tempo iary ones are aie agricultural tile the capital stock held by the united states in fir these bulks has a par pai value ot of 1 SO the governments total investment is neaily resources of these institutions ox ex ceca in addition the government gov goi has detailed supervision over ruty fifty one mortgage hanks banks operating under tinder federal chiller charter the government also supervises 4 COO local agricultural loan associations eions with federal chillers charters all tills this takes no account LIE 0 the relations of tile the government to the twelve federal 11 RP serve binks banks nor of tile alia authority re centhy given to 16 the reconstruction Firta finance ned corporation Corpor coi position atlon to buy preferred stock in commercial com menial banks r the president his ordered the con lation of 0 th the e a agricultural gri cultural credit agencies into tile the ii new w farni cred lt administration says professor olessor Pi hanna lie ile expresses epi esses the opinion that before the consolidation of the agricultural agencies too much machinery W adan t the ile financing institutions which aich ill the gov erin eminent nent either owns or 01 supervises Exi existing stin institutions represent sent a I 1 considerable ot of tune tion and any ani consolidations be preceded prece led ed hy by a careful survey ot of the ac anal activities of tic the varl argolis ar lolis eions lie he continues the tha only con coll sall dation the administration has an all is that ot of the agricultural credit in fit the farni credit administration As asa a permanent solution tills this arrangement anan gement I 1 too closely bound up with politics A better scheme would be to create creat e it a finance filid nt o corporation under tinder federal charter to take over nel either the abric agric u I 1 tural finance activities ot of the govern ment or all Us its leading agencies the governments financing and banking activities should be kept severely seve iely apart front subsidy and other schemes for raising the prices of tarm farm products pio ducts one is business the other I 1 is s major political policy the tha advantages of the corporation over bureau control tor for the business functions are real and |