Financing Agriculture

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Excerpt from Financing Agriculture: Address of Eugene Meyer, Jr. Before the State Bank Division of the American Bankers Association, New York, October 2, 1922 The acute phases of the agricultural crisis of 1920-21 are now happily passed. The aftermath, in the form of a burden of debt on the farmers and stockmen, still remains, and some thousands of banking institutions in the country districts are still in an over-extended condition. But probably at no time in our history has there been so rapid and extensive an improvement in our economic condition as during the past eighteen months. The present is an opportune moment to study our recent experience - to analyze the facts and the forces involved. Now is the time to determine the features which may properly be classified as unique and therefore unlikely to recur, and those which may be attributed to definite changes in our economic position, internally as well as internationally. With exact knowledge of the facts and with a thorough understanding of the complex forces that have been of chief influence in the recent crisis, we may hope to arrive at sound conclusions as to what modifications are necessary to adapt our banking methods and machinery to the needs of agricultural finance. It is unnecessary, before this audience, to emphasize the importance of agriculture as our basic national activity, fundamental to all commercial, industrial, and financial operations. It has been demonstrated, amply though painfully, during the past two years that in America the stability of commerce and industry is inextricably interwoven with a prosperous agriculture. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.