Sacramento daily record-union., 1890-03-31
SENATOR STANF0RD'S BILL.
THE PROPOSITION TO LOAN MONEY TO
THE FARMERS.
A Correspondent Tells What They Think
About 1t in His Section of
the Country.

EDS. RECORD UNION: l am not farmer
myself, but l am interested in a farm in
another county. Ny business is keeping
store-what is commonly known as coun-
try store. l have good run of custom.
and some days of the week number of
farmers from all around the neighborhood
gather at the store and discuss the weather.
crops, politics, and pretty much everything
that's going. This winter has all along
been of most common remark, on account
of its severity. The oldest settlers all
agree that no such winter was ever before
known in the country, and the rain records
bear them out in this. For time things
looked very blue. The fall-sown crops all
rotted. The way the rain kept on made
farmers fear that no chance would be given
to sow in the spring. A good many de-
SPARED of making any crop at all, and, 1
tell you, things began to look desperate. 1
had about as much on my books as l could
well stand. They were all good men, and
sure pay when it was possible But unless
they could make crops, they couldn't pay,
and to me the consequences would be that
| would have to quit business or go under.
The San Francisco merchants are indulgent.
but they must have their money to meet
their own obligations, and so it goes all the
way up and down the line of business.
Some of our farmers who lost their fall
sowing, tired to get accommodation at the
county banks where they usually deal, to
enable them to get on and put in another
crop. There was no money to loan; the
banks shut down. Then they tried in San
-
in Halifax. A man had to have the best
of collaterals TO get money from the San
francisco bankers, and farmers where the
seed has rotted and no outlook for a crop
the whole year, are not gilt.edged. As
tell you, things looked very blue for
while; yes, black.
Since the opening of this month things
have looked up very encouragingly. Farm
ers begin to see their way out and through.
Flowing has been going on, and some have
put in seed. Ground that it was thought
couldn't be plowed until too late, has since
dried up enough to take the plow, and
make the best they can of the season. with
good hopes. For the last week or two
they don't gather at my store like thev
did IN the winter. But they come in Sat
urday afternoons. When word came
in the papers about that bill Senator
Stanford has introduced in Congress
to have the Government loan money
on farms at low interest and allow some
thing like fair valuation on the land,
the talk has been mostly about that. 1t
has been debated and considered in every
shape, as farmers naturally look at things
the same as bankers do-from their own
standpoint. They are all to man in favor
of the plan. haven't heard of one that is
against it. They say that it looks like Con-
gress would do something for the farmers
at last; count them in on legislation and
pay attention to their wants. The bank.
ers don't need any assistance really to get
on. but the Government leans them money
to establish National Banks at a rate that
practically counts for nothing Now, whv
not treat farmers the same way? Land is
certainly better security than paper. 1t
won't burn up. 1t can't be DESTROYED. 1t
Is there all the time, where it can be found
when wanted. 1t is the best security in
the world.
Just consider. 1 take up a quarter Sec
ton of Government land and make it mine
by complying with everything the Govern
ment requires. After a few years of good
harvests and have just about got clear of
all debt incurred in making the farm val
liable, there follows year of poor haryests
and run behind. / need money to go on
the following year. l must have it or sac.
riiice my farm. / go to the banker. He
says, Yes, you can have the money, but
you must pay me per cent per annum for
It,. Nine per cent Why, might last as
well give over the farm to him at once.
But this is not all. l have in five or six
years brought that land from uncultivated
condition and little value up to first.rate
condition and good value. 1t is worth not
less than $1,000 at the very lowest. 1t is
assessed at that. The banker tells me that
he will loan me $1,000 on it. That's the
best he will do. Now, per cent. on 81 900
can stand for one year to pull through.
A good crop will see me out. But sun.
pose L don't get good CROP ]
suppose | have another season of bad luck.
cant lift the mortgage. l can't pay the |
The bank refuses TO allow me |
more Time. | can't raise another dollar on /
the farm. Everybody knows it is worth |
more than $1,000. They know it is worth |
five times that sum. But they also know
that the bank has got the mortgage on il. |
The bank pushes and go to the wall. Me
and my family are driven from the home |
we hoped 10 hold all our lives. Bankrupt |
and destitute, we have 10 look out another
place. My wife gives up dispirited. and |
our children go ragged and without school /
ing Unless have the grit to battle on |
go 10 the dogs.
Now, as We all, farmers and everybody
about here, understand Senator Stanford's |
bill, If we wanted money on our farms. in
case Of necessity, we could get it from the |
Government at from one to two per cent. |
per annum, and if the farm was worth or
at 5000 we could get a loan
OF $500 or $4,000 upon it, if that |
much were needed. But we would get no /
more than was needed and we could mil |
through easy with that light load upon the /
farm, even if two years of poor crops should /
happen together. Better still, would be |
the encouraging knowledge that, if some
thing should happen to make it impossible
for US to pay the interest, there would be /
no danger of foreclosure; no sacrifice of the
farm. One or two years of good harvests
would lift us out, and in time we could get |
so far ahead that in another year of poor /
crops we would be full handed enough TO |
stand the squeeze ourselves, and would not |
have to go 10 the Government or to any,
body to help US out.
Now, this is about the way the Stanford |
bill is looked at here; the farmers are
it, and the more thev study the
stronger they are for it. Some say it is
like the gateway to the farmers salvation /
in this world, and will keep him in better
frame of mind for salvation in the world to
come. But have written myself out and |
will stop. 1t occurred to me that it wouldn't |
be out of place in your paper to let farmers
in other parts of the State know the senti- |
ment here. We first got word of the STAN
ford bill IN the RECORD UNIoN, and it is
only fair that We send you the first fruits. |
II. B. n.
Yolo county, March 90, 1890.