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Show Rural Credits A Boon to the Farmer Did you read the four column synopsis of the Federal Farm Loan Act on the third page of the Chronicle last week? If you didn't you better get busy and do so right away and then cut out the article and save it. This act has been a long time brewing and a special commission was sent to Europe to study and look thoroly into the Farm Credit System, which has been working in some parts of that county successfully suc-cessfully for some time. The act after being under discussion and revisement for a long time has but recently passed both houses and been signed by the president. It is bound to play a very important part in the making mak-ing of farms in the United States from now on. It will become, we might say, the third most important im-portant feature of the farming industry and will be superseded only by the growing and marketing market-ing of the crops which are raised thereon. Banking, like all other industries, indust-ries, is now reaching a stage of perfection after traveling thru hundreds of years of mere money changing and wildcatting and all branches of the business are now being slowly but surely based on thoro scientific and economic systems. In banking the former has been looked to to pay the freight, thro systems of banking, trust companies, local and general gen-eral agents he has been forced to pay an interest on the money which he is to do business on, equivalent to that of the more hazardous callings. Yet he puts up a security second to none. Conditions have been slowly changing, however, for some years and now, with the Federal Land Banks established, the farmer far-mer is going to have an inning at cheap money on long time loans. He is going to be given an opportunity to borrow money on his land for the purpose of stocking it up, building fences, and comfortable and economic farm buildings and adopting other modern means for making mak-ing the farm pay and that at small interest payments and the principal running over periods up to 35 years. We consider it very essential that the farmers of Millard county coun-ty make a close study of the Federal Fed-eral Land Bank Law and as soon as this is done begin to think of the organization of an association associa-tion thru which to work in order to obtain loans thru the most desired de-sired system. By the time you have looked into the matter thor-1 oly and have perfected the organizations organ-izations for working in cooperation coopera-tion with the District Land Banks these banks will have been established and you will be in a position to receive your loans. When that time comes and you will begin to get money which you can, by investing and working with, make it pay its own interest to you, also you will have begun to get your heads above water, see the silvery sil-very lining to the clouds and. beyond be-yond that a competance for a restful old" age. |