| Show f METHODS IN LV FARM FAR I It t LOANS LOAiS r. r Fa Fain m financing came camo to the front with the announcement by Secretary i Wallace Vallace that he would lay before the nl national agricultural conference next week charges that certain companies con com loaning money on farm mort mort- were gages were taking advantage of the present crisis to charge Extortionate extortion extortionate ate Interest rates The agricultural department also made public information it had gathered gathered gathered gath gath- ered showing that the banns banks of the United States States' had outstanding approximately approximately approximately ap ap- proximately 1 personal and collateral loans to and in farm mortgage loans at the end of 1920 In all lines of business the secretary sec sec- secretary declared we find predatory predator individuals who seek opportunities to take advantage of at the misfortunes of oU others ers We Ve expect that from men IDen of a certain type but It Is a real shock to note that the same sort of thing is now being done by some in insurance insurance insurance in- in companies and farm mortgage mortgage mortgage mort mort- gage loan companies of whom we have a It right to expect a higher code cede of or ethics These dirges he added did not apply Ito to o all aU companies making loans to farmers for tor some he said were doing the he le right thing and helping I the farmers all they could Others Other i however r he asserted are taking I advantage of at the farmers' farmers distress to heartlessly ext extort rt a rate of interest and in terms of loan which cannot j be Justified Charles S S. S Barrett president of the N National Board Doud of Farm Organ mij Mid nd pre t t r r-f r t of or the he Nati-m- Nati al Farmers' Farmers union also issued a statement in which he declared the government had ditched lh the farmer farmer because through the federal federal federal fed fed- eral reserve board and other agencies agencies agencies agen agen- cies it allowed a ruinous artificial deflation n to bring agriculture to It its present presen deplorable straits Real success for Cor the conference he asserted would be possible only If it a plan Is evolved through which speedy aid will be given the farmers armel's so that they can continue as producers ers of of food and clothing for this country and for a large part of ot the world a 0 o |
