FARM FINANCE 139 



much more difficult to get them together and imbue them 

 with a common purpose. The idea of pooling the total 

 value of the land in a community would be most shock- 

 ing to our rural centers. As a result, any legislation 

 looking to the establishment of such a system of banks 

 would take root but slowly. It is important, however, 

 that some such system be speedily established for eco- 

 nomic reasons to the farmer. In my opinion the es- 

 tablishment of this system would go on much more 

 rapidly if at first some guaranty could be attached, 

 either of the nation or of the States. When the system 

 is fully understood by our people and its value appre- 

 ciated, then State and national aid may be withdrawn 

 without damage. 



CONCLUSIONS OF THE COMMISSION. 



1 Without going further into the discussion of the vari- 

 ous details of the proposed banking system, I shall con- 

 tent myself with giving the conclusions of the commis- 

 sion in regard to this most interesting matter : 



Day by day we are using the power of the whole people to 

 do more cheaply or more efficiently some duty which had hith- 

 erto been performed by the individual. In agriculture we have 

 been a pioneer people, actively engaged in taking possession of 

 the surface of a great empire. Our farmers have been en- 

 gaged in the hard labor of improving their farms, building 

 school-houses and churches, and constructing bridges and roads 

 for the public welfare. Science has but recently informed us 

 that the fertility of our soils must be maintained and where 

 depleted must be restored. We all know that our herds of 

 meat-bearing animals must be increased. 



While it may be said that these duties pertain particularly 

 to the individual farmers, it can be answered in reply that farm- 

 ers have not been able to accumulate sufficient free capital to 

 meet the present situation. Our population has grown more 

 rapidly than our agriculture has been able to expand on a scien- 



