The news and herald. (Winnsboro, S.C.) 1877-1900, 1899-04-08
AGRICULTURAL CREDITS.
THE REMARKABLE SYSTEM IN VOGUE
AMONG FRENCH FARMERS.

There Are Certain Products Upon Which
They May Borrow Money - Property
Remains in the Possession of the
Owner How Creditors Are Paid.
Advance sheet of consular reports
No contains the following transla-
tion Of the French agricultural wal
rauts act:
Any farmer may borrow upon
the results Of his agricultural or III
dustriaI products hereafter classified,
at the same time retaining possessions
Of the same in his own buildings OF in
those upon the ground cultivated. The
products upon which warrants may
be issued are as follows: Cereals,
either in bundles or thrashed; fodder
and dried feed; dried pharmaceutical
plants; dried vegetables; dried fruits
and seeds or roots; textile materials.
animal, OF vegetable; oil seeds and
seeds for sowing; wines, elders, spirits
of alcohol of different natures; dried
exteriors Of grain; cut wood, resin,
and tanbark; cheeses, honey and wax;
vegetable oils; sea salt. The agEl-
cultural warrant remains in the hands
of the bearer of the warrant until the
! sums advanced are reimbursed. The
farmer or producer is responsible for
the merchandise which remains II his
custody and care without any in
demnity whatsoever.
The farmer or cultivator, IN cases
where he is rot the proprietor OF re-
ceiver of the income from his work,
shall, before making any loan, notify
the proprietor Of the property leased
of tie nature, the value and the guam
tity OF produce Or merchandise which
is to form the guaranty for the loan,
also the amount of the loan to be de-
manded. Such notice should be given
to the proprietor. the person entitled
to the income, or his legal representa-
tive designated, through the Offices o.
the clerk OF the justice OF the peace OF
the canton in which the residence Of
the borrower is located. The notiii-
cation letter should be deposited with
the clerk, who should wise, register
and send the same under form Of reg
istered letter, at the same time ac-
knowledging receipt CT the same. The
proprietor or person entitled 10 the III
come, OF his legal representative, IL
case payments become due and not
paid, should within a delay of twelve
full days, counting from the date Of
the registered letter, make opposition
to the loan on the said products by
letter addressed to the clerk (gre!fierj
Of ;ls jtis;:ce of the peace, which letter
should be registered.
The clerk of the justice of the
pc zee will write on the two parts OF 4
register with stub, specially drawn up
fol this purpose, and in accordance
with The declaration Of the borrower.
the nature, the quantity and value OF
the products which are to serve as
guaranteeing his loan, also indicating
the amount of the loan requested. In
c:sethe borrower shall not be the ! -
p?ietor OF the person entitled to tie
income of the ground worked, the
justice OF the peace should, beside the
conditions above mentioned, indicate
tie date the notice was sent to the
proprietor (or usufructierl, the che
entitled to the income, as also the alb
sence of any opposition on his part
after delay of twelve full days from
the date Of the posting OF the regis
tered letter. The sheet detached from
this registe: becomes the warrant
which will permit the cultivator to OBJ
tain his loan.
The borrower may, even before
! payment is due, pay such amount on
account Of the warrant IN case the
lender refuses his offer, the borrower
may, in order 10 free himself, deposit
the sum offered, observing the for
malities as prescribed by article 1859
OF the civil code. Upon sight Of the
regular and sufficient receipt OF de-
rosit. the justice Of the peace shall
issue an order indicating that the sum
shall be placed to his the borrower'sl
credit against the debt consigned.
II default of payment when due,
and after proper notice transmitted by
registered letter to the borrower, III
which request for acknowledgment
of the same should be made, the holder
Of the warrant, without further notice
and without any judicial formality, but
in such forms of publication as pro-
| vided for by articles GIT and the fol-
lowing Of the code cf procedure, may,
eight days after the first notice, pro
ceed through ministerial officer to
the public sale at auction Of the
merchandise deposited as security.
The creditor is directly paid the
amount Of his advance from tie sell
ing price, by privilege and in prefer
ence to all other creditors, without
any deduction beyond those Of the
regular direct contribution tax of the
locality and the expenses OF the sale,
and also without other formalities
tEan the order of the justice of the
peace.
The holder OF the warrant loses his
right to proceed against the indorsers
cf the same should ne not cause the
sale to be made within the month fol-
loving the original notice to the bor-
ROVER. The holder has no recourse
as regards the borrower or his in
dorsers, except after having exercised
his right upon the products or mer-
chandise placed as security. In case
the amount realized is insufficient
| delay of a month is accorded to him
from the date that the sale Of the
merchandise took place in order to
have recourse against the indorsers.