CHAPTER XI 



PASSING many other legislative acts, we come to 

 that of establishing the Federal Land Banks, the al- 

 leged purpose of which is also the " Betterment of 

 Agriculture." 



When the question of establishing a new national 

 banking system was before Congress, the best bankers 

 throughout the country were taken into the councils, 

 as well as into the confidence, of our law-makers. 

 Congressional committees seemed always glad to re- 

 ceive suggestions, called in bankers of experience, 

 great and small, from all quarters of the country. 

 The counsel of these practical business men of expe- 

 rience in that particular line did more to bring about 

 a better banking system one which seems to re- 

 spond to every emergency than any Congressional 

 Committee, without such efficient aid, could have ever 

 secured. When the system was established from 

 among these bankers, and following their counsel, and 

 in keeping with the consensus of opinion of all bank- 

 ers, men were selected to organize, supervise and con- 

 trol it. 



In the creation of the Federal Land Bank system, 

 none of these steps were followed to any perceptible 

 extent. I have never heard of a man of high stand- 

 ing, large and long experience in the farm mortgage 

 business, who was called before the Congressional 



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