Evening Republican, Volume 18, Number 14, Rensselaer, Jasper County, 16 January 1914 — Bureau Establishes Credits [ARTICLE+ILLUSTRATION]

Bureau Establishes Credits

Seed Grain, Silos, Pedigreed Lire Stook and other Permanent «, Improvements are Recognized by Bankers When Undertaken by a Group of Responsible Farmers

FARM CREDIT BASIS Bank* Willing to Treat Farmer* th* Jam* a* Merchant* In Loan Rates. [Natlon&l Crop ImproT#m«nt Sarvlca.l Geeorge M. Reynolds, president of the Continental and Commercial National Bank, Chicago: “The average American farmer is too independent to accept the community scheme which is now being introduced into Canada upon European models. As for the government making loans direct upon farm land, I can see no teason why the government should"thr this for the farmer any more than for another Individual or business man. .“I believe that any plan which will enable the farmer to obtain loans easily on proper security, and which will provide for some amortisation period of twenty-five or thirty years, trill be a benefit if the idea is properly safeguarded. There is a great deal of politics mixed up with the constant demand for a loan or credit

scheme for the farmer. The farmer, especially in the middle West is now in an excellent financial oonditlon. There are some communities, no doubt, where aid Is needed, but the condition of the American farmer is vastly different from that of the Enropean farmer." Many other hankers have /stated that the farmers, when character and security are both considered, are able to obtain money on the same terms as an equal transaction In any other business. Low rate loans are- being made to -clubs of farmers-for permanent improvement such as silos, cattle, etc., when {recommended by the County Agent" and his Advisory Council. This Is one of the greatest branches of developing the community spirit. While the community does not stand sponsor for a man’s yet, application for loans from a nhmber of persons at the tame time,! makes bankers willing to handle the whole proposition at a--lower rate.

Auctioa of Holstein’s et Stevens County, Minnesota