131 



lion from th: 1 financial side because I feel that it is to 

 this side of the question which attrition must he di- 

 rected in order to appreciate how far- reaching \\ouhl 

 be the beneficial effects of an adequate elevator sy>iem. 

 issuing warrants. 



I must insist that all attempts to stimulate agricul- 

 tural credit will prove futile without the previous es- 

 tablishment of a safe, sound storage protected against 

 insects, rodents, fires, floods, etc. 



If the cereal crop is to constitute the guarantee 

 for credit that might be obtained from a banking in- 

 stitution, of whatever form or character, then the 

 sound preservation, easy disposal and sure identity 

 of the grain must constitute the indispensable condi- 

 tions for that guarantee, and consequently itv elevators 

 that will provide this will form the essential basis for a 

 sufficiently ample agricultural credit. 



There is no kind of guarantee superior to that ob- 

 tained by storing in elevators, nor any system of stor- 

 age that will meet the case at a lower cost than a well 

 equipped elevator. This is a matter of experience and 

 is proved in any case by simple demonstration and cal- 

 culation. And if with the establishing of elevators the 

 land owners benefit, the banks and "consignatarios", 

 are permitted to extend their system of credits on safer 

 grounds, and "acopiadors", grain buyers, 'almacene- 

 ros" and others are freed from the obligation to buy 

 where they have advanced money, it follows logically 

 that the coolnist and farmer, liberated from one of his 

 most constant preoccupations, would be in a position to 

 respond to the calls for improvement which are shower- 

 ed on him, which would bring about the longed-for 

 progress in agriculture. 



To dwell on the brilliant prospects of tlie future is 

 useless. Unless tli3 farmer gets a sound return for what 

 he does at present the future is not likely to create much 

 enthusiasm, and he never will get a solid remuneration 

 for his labours until elevators are as common over the 

 land as are windmills to-day. 



Of course I do not pretend that the construction of 

 grain elevators in any form will constitute a panacea 

 for all financial ills, but obviously they will improve the 

 situation of the farmers in many ways, chiefly by fa- 

 cilitating him suitable credit, (for which safe storage 

 places are more essential than banks ) besides giving the 

 cereal farmer the opportunity to sell his produce when 

 the price suits him, instead of being obliged to undergo 

 the spoliation of which he is now a victim, saving him 



