Salt Lake Telegram | 1933-08-31 | Page 8 | Federal Farm Loans Started

FEDERAL FARM LOANS 81 STARTED ART ED Administration to 10 Distribute Monthly in West States SAN FRANCISCO Au Aug 31 UP UP- UP The federal farm credit tion starting today will distribute monthly as a. loans to dis du- distressed farmers in the district comprising com corn California Utah Nevada an and Arizona it was declared here toda today by Henry l Jr F F. F C. C A A. governor The new deal for western farmer farmers includes liberalization of Vie She federal loan policy said who arrived arrived arrived ar ar- ar- ar rived from irom Washington D D. D C. C for a series of conferences Loans on orchards will be granted grantee on special value crops rather than on value of the land for tor general crops said Farmers who show sho a 50 per cent or better chance of paying pay pay- ing off indebtedness oC within wilbin 30 years year ears will be bc eligible for lor loans if other requirements re re- are arc satisfied he hc declared We dont don't want to tear down th the theold theold old agencies until we have something be better tier to offer he said We We aim to tomake tomake tomake make this division of oC the thc government supporting self like the federal reserve reserve re re- re serve so that eventually it will b be owned and operated by the the- farmer borrowers Each farm will be bc studied No loans will wm be made where it i is obvious costs of operation are arc so high the farmer has no chance to succeed suc sue cled and pay the thc money back will leave for lor Fresno Fresn tomorrow and will then go to Los An An- geles