Show UTAH BANKS SU SUPPORT PORT INCREASED OUTPUT OF FARMS OF STATE One of the most effective ways to fight Inflation Is to Increase In crease production of basic commodities commodities com such ns as food feed and amI fiber according to Glen M. M T. T Carlson Carison of the First National Nation Nation- al Bank Dank of Moab Moah who represents the Utah Bankers Asso elation ns as Grand county key banker I An accurate gauge of production tion levels Is n a comparison of farm arm and ranch marketing In come During the five years ears ending December 31 1950 1050 Mr Carlson noted cash Income of Utah ranches and farms advanced ad 18 per cent from to 1496 This substantial Increase In tn agricultural Income is indicative indica tive of the greater farm and ranch production vital to the nations nation's defense effort he said The Increase was made however how ever within the framework of sound farming practice practice better better operating methods diversified production of crops and livestock live stock and a n high degree of mechanization The rural banks of the state have worked closely close ly Iy with their farm tarm and ranch customers and have given wholehearted support to pro pro- grams of ot soil conservation pasture pas ture Improvement and other programs program benefiting our rural communities Bank flank loans which Increase production and farm efficiency are one of our greatest great great- est weapons against runaway Inflation In carrying out their Individual ual projects of mechanization and better land use our farmers farm ers and ranchers have found bank credit an nn Increasingly useful use ful tool The Improvement programs pro grams have placed the states state's agriculture in such a strong financial position that farmers and found it necessary to borrow less money from banks In 1950 than In the preceding pre pro ceding year dc despite rising costs of production Quoting from the tenth national na survey of farm lending by the Agricultural Commission Commis sion slon of the American Bankers Dankers Association Mr Carlson Carison noted that In 1950 the last full year of operation the Utah banks serving agricultural communities loaned to farmers and ranchers to meet all nIl types of financial needs Of at the total amount loaned was borrowed by farmers and ranchers to finance production and opera requirements This com corn pares with 12 3 production loans totaling during dur ing 1949 The rapid repayment of production loans is shown by the fact that on January 1 1951 1931 only oOOO remained out out- standing On January 1 I 1950 farmers and ranchers had a total of held bank mortgage debt of ot During the year I banks made 1337 additional agricultural real estate loans In an aggregate amount of 5 5 Yet at the end of the year only of this long term debt was outstanding In In that this type of debt Is being held to a minimum The average production loan increased from 2539 In 1949 to In 1950 The average real estate loan In 1950 was The total of held bank farm farmand farmand farmand and ranch debt outstanding In Utah on January 1 of ot this year was excluding loans Mr Carlson Carison said |