| Show Disaster-Loan Plan For Farmers Grows Into Huge Business D. C. The simple relief measure started in 1949 to aid snow-bound ranchers in the west has mushroomed into a tremendous In the disaster-loan program has grown into a business and covers parts of 37 states and Puerto It is still growing by leaps and The program was born in to help ranchers In western Dakotas and Wyoming who suffered severe livestock losses in the Since then It has expanded to Include any type of production from damage in the cotton states to wind damage in New Congress put the farmers home administration in charge of the The organization reports more than loans have been made to farmers In counties in 37 states as well as to 37 municipalities in Puerto The loans are secured by real estate and chattel mortgages bearing three per cent interest with few are payable at the end of the next They average about although there Is no limit on the amount a farmer may borrow if he qualifies as a and can put up sufficient The largest loan approved to date was to a Mississippi The number of regions designated as disaster areas are with one of the most recent being the entire state of Mississippi where the cotton crop was damaged by bad weather and Loans In the state are expected to swell the total of outstanding loans by several million end Isn't In one official looks like the program Is here to stay unless the government starts taking losses like it did In the feed-and-seed-loan program of the depression |
