ee THE AGRICULTURAL BLOC 



render the excellent service that it has since 

 given to farmers. 



Through the prompt organization effected by 

 Mr. Meyer, money was immediately made avail- 

 able to farmers in amounts that are substantial 

 in themselves and were the means of releasing 

 even greater sums into general circulation. 



Another important bill in the Farm Credit 

 Series which was supported by the Agricultural 

 Bloc was that which increased the interest rate 

 on Federal Farm Loan bonds from 5 per cent 

 to 5% per cent without increasing the rate to 

 farmers on loans. This made it possible for 

 farm loan bonds to sell promptly in competi- 

 tion with other securities. Supplemented by 

 the Curtis Bill supported by the Bloc, which 

 provided for increasing Federal Farm Loan 

 Bank capital by $25,000,000 for use as a revolv- 

 ing fund, the Bond-Selling bill became even 

 more effective. 



The proposal by the Farm Bloc that agricul- 

 ture should have representation on the Federal 

 Eeserve Board was approved by leaders 

 familiar with farm finance in all its phases. 

 One authority in discussing the reason why a 

 special representative of agriculture should be 

 upon the Board pointed out that the credit needs 



