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Show USE CREDIT WISELY Now is a good time to re-finance farming. Farmers should pay their aebts rather than extend their operations. oper-ations. Now, as always, farmers should remember the following principles: prin-ciples: Credit, except in cases of great emergency, em-ergency, should be used for productive produc-tive purposes and farmers should be sure not to borrow heavily for nonproductive non-productive ones. Farmers must not think of borrowed borrow-ed money solely as additional capital, capi-tal, but must remember that there is a day of payment. When money Is cheap farmers should not speculate because of its abundance but should settle their obligations ob-ligations with cheap money. Loans made to farmers should he able to repay themselves with all the costs and leave the farmers something some-thing as profit fo-r their working with this additional responsibility. The use of credit with higher interest in-terest and for a shorter time than it can be repaid should be avoided, no I matter from whom the money may : he borrowed.: E. B. Brossard, Economist. Econ-omist. Utah Agricultural Experiment j station. ' . |