Special Delivery

Without warning, while Congressmen were rubbing their hands and shaking in their boots because of the Teapot Dome investigation, they were suddenly confronted by a special message from the President. The message dealt with the farm situation in the Northwest, diagnosing the case and suggesting remedies.

The Diagnosis. "The distress is most acute among those wholly dependent upon one crop. . . . Great numbers of individual farmers are so involved in debt both on mortgages and to merchants and banks that they are unable to preserve the equity of their properties. They are unable to undertake the diversification of farming that is fundamentally necessary for sound agricultural reconstruction of the area; they are unable to meet their obligations, and thereby has been involved the entire mercantile and banking fabric of these regions."

The Prescription:

"1) The refunding of the pressing, past-due indebtedness of the farmer in the territory most seriously affected.

"2) Financial assistance through a federal agency to enable wheat farmers to make the change from a single-crop system to diversified farming.

"3) The restoration wherever it would be helpful of the impaired capital of banking institutions in the distressed sections.

"4) The creation by private capital of a substantial financing corporation to assist in the plan of reorganization.

"5) The extension of the time during which the War Finance Corporation can make loans."

"These," said the President's message, "are the measures which I propose."