970 \Dl.\cs IN RURAL l.c ( >\()MICS 



must, however, be attained gradually, and adapted to the peculiar 

 conditions of this country. European methods must be used 

 with caution. It is exceedingly doubtful, for example, whether 

 the debenture-bond system is feasible for any considerable part 

 of the country. If European experience has anything to tell us 

 about state aid, it is " Beware." 



While there is need of federal legislation, the bills thus far 

 introduced have provided for too much centralization and too 

 much federal interference in a country as large as this and with 

 such varied conditions. A general plan of organization for the 

 entire country is requisite ; but it should be left to the individual 

 states to determine the practical details of administration and 

 control. The conditions of agriculture in this country do not 

 warrant special legislation, such as has been proposed, limiting 

 the operations to agricultural land ; nor are the farmers asking 

 for it. Not only does such legislation do violence to our political 

 sense, but in this particular case it would defeat its own end. 



In the final analysis, the solution of the problem of rural credit 

 is in the hands of the farmers themselves. They must put their 

 business on a more efficient basis and must learn to work to- 

 gether for their mutual interest. The former is a problem of 

 farm management, the latter, one of rural organization. That the 

 shortcomings of the American farmer in both these fields have 

 at last been forced on the attention of the nation is evidenced 

 by the many praiseworthy efforts which are now being put forth 

 by so many agencies to remove these obstacles in the way of 

 agricultural progress. 



