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Show 1J( flY -MTSON ' ; iuGH THE COMMERCIAL W BANK OF UTAH ' Hint I , ih BY WES DICKERSON Because farming is a highly v: lttive business and be-'i be-'i emergencies can happen I Of 5tem seems as though farm ; 50 i. should have their finan-5t finan-5t ' reserves in the safest pos-:t pos-:t ciJ form and where they will tv sible Irn' readily available 'alway needed iwb4De three types of reserves Sh best fill these qualrfica-i qualrfica-i wh are savings accounts, Unit- -.-''''""""""":' ed States Savings Bonds, and i postal savings accounts. Other types of reserves which hav-' more specialized uses are real I estate or a mortgage on real j estate, life insurance, commer-1 cial stocks and bonds and live- j stock. The average capital invest-! ment per worker in agriculture ! is about the same as in industry, j The financial problem of farm-! ers, however, is quite different; from that of industrial workers because -in agriculture a person has to finance his job as well as his home. The capital required re-quired for plant and equipment used by the industrial workers is largely supplied by outside ' investors while the investment in land, livestock and equio-ment equio-ment is usually financed by the farmer who uses them. So, farm families have the double problem of protecting their investment in-vestment in a business as well as in a home. f With farming a combination I of a home and a business, I see five important business and personal per-sonal reasons why the farmer of today and of the future should have a finanoial reserve.. 1. As protection against emergencies emer-gencies crop failure, disease in herd or flock, or sickness or accident ac-cident in .the family. 2. To pay for new machinery and equipment when the old wears out. 3. To have something to fall back on in case of lower farm income. 4. For education of children or to help them get started on their own. 5. To have some money when the time comes to retire or to take life a little easier. Financial reserves are considered con-sidered so important in banking that all the banks are required : by law to carry a certain amount of reserves. Many banks j always maintain reserves considerably con-siderably in excess of what the ' law requires. There is no law that requires farmers to carry financial reserves. But. every individual and every business needs them. |