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Show Farmer as a Banker Farmers themselvs become the owners and directors of the nat-' nat-' ional farm loan associations. They become investors as well as borrowers. The Government Govern-ment has not only made the way easy, but it helps the farmers to reap the benefits derived from their own united efforts of borrowing. bor-rowing. But more than this. By becoming be-coming subscribers to the capital capi-tal stock of the Federal land bank of their district, which the associations have to do when applications ap-plications for loans are made, the farmer members of the national nat-ional farm loan associations will ultimately become the owners of the land banks also, for the Government will gradually withdraw with-draw its stock holdings from the Federal land banks and leave their ownership with all their profits entirely in the hands of the farmers themselves. Here, then, is a great opportunity oppor-tunity open to all farm owners in the United States. The power lies within their hands to extend the benefits of this system into every rural community at practically practi-cally no loss of time and at little expense. There is no reason why a national farm loan association associ-ation should not be established in every rural district. The Government has placed its money and its moral support at the command of our farmers. But they must get behind this system sys-tem and take advantage of it if they would reap all its benefits. The Federal farm mortgage credit system thus becomes a field of unlimited promise to American agriculture. Let it be plainly understood that farmers can form their preliminary pre-liminary organization at once. They can have their directors chosen, as well as their president, presi-dent, vice president, loan committee, com-mittee, and secretary -treasurer. But they cannot receive their charter, nor can they borrow money of the land banks until these have been located and organized. or-ganized. They may take several months. But, if the farmers have all the preliminary work done ahead, they can make their applications ap-plications to the land bank as soon as it is organized. This will help them to get their loans quicker than if they put off organizing or-ganizing until the land ' banks are located. Let 10 or more farmers in every community go ahead at once and form a temporary tem-porary organization. It will - help them and it will facilitate the work of organization. |
