1316 New York State Agkicultueai. Society 



exactly on the Avay to become paupers. I am a farmer because 

 I like the business, because I enjoy tlic situation and the oppor- 

 tunity, and I believe that as a class the farmers are as good as 

 any class, perhaps a little better. If yon want citizens in an 

 emergency, soldiers in a war, you will go to the famiers to get 

 them. Forty-eight per cent, of the Civil War soldiers were 

 farmers'* sons. Wo do not want any class banks. I do not believe 

 there is any dearth of opportunity for tlie man who has assets and 

 collateral to borrow monev. I believe there is no condition that 

 can be devised or improved that will allow a man who has no 

 assets of any kind that are valuable to borrow money. No one 

 is going to get something for nothing. I do not believe there is 

 any demand on the part of the farmers, at least I have not heard 

 of any. It seems to be an infectioUi, a verita«ble contagion, to go 

 in for farmers' banks and for the heJping of the farmer. Now, 

 I believe that the American farmer is abundantly able to help 

 himself. He has an individuality, an independence and a sense 

 of proprietorship that is not experienced in many other occupations 

 or kinds of business. 



I am diametrically opposed to the suggestion of having banks 

 specifically for farmers. We have all the baidvs we ought to 

 have, even if thev do in fortv vears make eiglitv million on a 

 capital of five hundred thousand dollars. I am opposed to the 

 proposition because I do not think the farmers want it, they have 

 not been consulted about it. 



Mr, Palen : I think ]\rr. Schrivcr did not understand the reso- 

 lution exactly as it is put here. The proposition is: " Whereas 

 every business in this country, except the lousiness of the farmer, 

 adapted to its financial needs — " Now, it is a fact that Mr. 

 Sehriver must know that the national banking system absolutely 

 prohibits loaning farmers anv monev on a morta'aae on the farm. 

 Furthermore, the savings banks during the period of agricultural 

 depression in this state — nearly every board of directors of 

 savings banks in New York passed resolutions not to loan money 

 on fanns. I had a friend who sold a farm within four miles of 

 the Court House in the City of Poughkcepsie, of ninety-seven 

 acres splendid land, for $7,000 with more than that buildings on 

 it. Ho took as a part of the purchase price a mortgage from a 



