Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1889-01-08
Don't Mortgage the Farm.

bsns. discussing rates ofinteresi sni the
banking business generally. Said one, .
banker In q farming county In Northern
OHIO, "Oar best loans are made 20 farm.
sr-, or In di.couatiag farmers notes. :"
Farmers noiesf' "Ycs, notes given
10 Implement men. There are stacks OF
them offered as every year and We can
generally make twelve per cent on them"
down our way" said the Other visitor.
II don't believe you eau noi = farm that
IL not mortgsged. or N there are any such
they will not remaln 90 long" They are
sending . great deal OF money iuto our
coauiy from Michigan" said The first
speaker. ''snd losuing II on farms ~ seven
per cent think Sc. 600 has been placed
there this summer. There are very few
! farm. that are not mortgaeed"
In general way all b,nkers know that
farmers are money borrowers. and much
sympathy IL given them because OF this
burden of deot they carry, but u IL not
surr that this sympathy IL we'll plscsd, or
called for. Ca the contrary. u Is q plala
Indication OF The lsek of good bnsincs.
Judgment among fsrmerr. They are per.
petuslly discOuniiug the future; they ATE
working to-day on the strength they sx
| pect from tomorrow. baked meat They
are spending In the spring the money they
sxpect 20 receive from the sutamn's crops.
Everybody l. wiliing 10 give credit IN the
Owner of land. whyi No, because he IL
more honest than other men not because
his crops are safe, not because he desires
% pay more than others dos bat becsu.e
The sheriff can lad bis land mOtr easily
When the creditor desires ~ levy on 10
II II ssii that only nys per cent ofths msu
wbO enter basiness sacceei In IL. If they
AL vent into debt a. reckle.sly q. farmers
DO not one would succeed. The I've per
csut that succeed learn to make money be-
fore they spend 10 And therein lies success
Take an average farmer In the Middle
States. Beginning In spring be goes in
debt fOf al be eats and al be wears, on
the pfonlse OF The harvest 10 March be
gets trusted Tor plow, In April fot
h,ffow, In May for = moving machine
10 Jaly for threshlns m,chlnsI 10 Sep.
tsm0sr f0f ooru.shsller, and q, almost
any time for lighinlug.roi and . wind.
mill. When harvest comes the crops rare
~ meet his expectations III not sc.niy
b,cause of Too much or TOO little rain, the
price IL too lor because of boanisous
crops everywhere. In either case be rare
" sells when the crops are really. Some
0ue Ia that nslghborhooi, once upon q
time, sold bis wheat al ulasiy cents when
lfae hai waited ten days lohger he could
have sold for ninety Que. and thereafter
no one woali rau ihs risk OF sslllng early
and losing that cent
The merchant 4. .hxi0as Tor hls &C.
cogni be receives note and the note
gvts iatO The bank SO also The notes
giytn lor maehlns- dad their way - TIE
b,nk. sni TIE farmer walks In with his
Interest 10 slI months more there !.
more la,sresi. and some renewing OF
notes. Another IN moHth. sui soms OF
the note. ate picsssd upon bis a,tsuliou.
M1Fv notes arc out The gr0. an0uni
of these l. = large sun. lie IL afraid |
be will be sued. AMI IL even threatened |
wlih The lss How easy - borrow
snOaEh 10 take 40 those noes By giy.ng |
= mortgage on The farmi The bank !.
glad 20 Accommodate HIN al seven per /
cent pr Annam, payable seml.snnually.
IL Il sol.asy that be adds 4 couple OF hun.
dfei 10 The sm)uni 10 cover some ma.
ehlnss he tainss Of buying. ani the loan
L. made.
II made . gil,-edgei loan" aid one OF
my visitors. $500 on 81 eighty acre farm /
a. sisht per cent" "DO ,oa get eight per |
cent ofsni' I Asksi. ''iy.. oitsner than
less bot eastern money IL oomlns In from /
Insurance and Investment companies and /
reiaelng The rate. They are satisfied /
With seven or even slK per eeni down
there"
The farmer who has ,hir,y.,uo dollar.
inisrtsi 10 pay ever slt months on this /
gilt edged loan has sssamed . eOmpar-
Giivsly hghi bafdsn, yet u l. harden
Which. all things considered, . shrsui /
basinsss nan wogli avoid with fear. II
oosts him more than eight per cent.
Amoug = community where all farms are /
morigsgei II may mot be q disgrace 20 be
10 this condition, bat the men wao give
hlm credit thereafter will take Into &C.
ooant The fact that his secafliy Is no long.
sr what IL Was. A the years 20 on be
will scarcely see the Tins when 10 IL coz
s,bieni % pay any part OF The pfineipIi /
bot machines will wear oai. bGlliluss will /
need repairs, misiOftuues come 20 the 1
family, OF - the stock, aud The mortgage /
recorded la Vol so-ani 50. Page so-ani. /
80, Ia the recorders Ori -, will rise like q
ghost 10 irightsn away those who would /
nov lend but fOr this.
fOf many years | Travelled. regularly
over good part 90 Oaio aud iniisus DO.
ing baslness with tbs hardware dealers.
These men we're usually local agents FOR /
m,chlues, plows, wagons, etc. They |
would talk 10 mc freely OF their sales aud /
thslr prOn.s ~ we'll ~ Of taslr uou1les
Ia collecting their bills l used % think /
then. aud think nov. thus m,J Iriiy of /
our farmer. ssrc working 365 days 10 .
year fof the s)l. ben,n. o, tie Implement |
mvn. The absurd desire OF eycfy man 10 |
own ever machine that bis nelghbor hal,
and tue facility with which be could Buy |
u. 90 years tins, by giving hi. uo,e. led |
the e)mmunliy ~ "a waole inio Purchases |
that we're positively Ao.art. ani Kept ey-
cry farmers nose 10 the gflIdstoac ior The |
beDsns OF The Implement maker and the |
money lender. Asa business man l see
The same oondltiOn OF sniirs to-day. and
a. director ofs bank l haf these con.
plants At DIST hands. A mortgage on .
mans hon steal, excsp, parchise.
money mortgage. oggh, To bs avoided by
every mAD ual,s- he can shOs excellent
reasons Zoe IL. Teach yJafsslf sai yJlr
family - keep ths hon stead fres from
mortgages -TILLiiN II MEnkR 10 Amer.
lean Azflculiuglsl.