Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1912-09-13
Currency Legislation Be-
fore Association is a
CLOSED Incident"
TALK PROBLEM OF FARM
Land and Agricultural Credit Is
Discussed by Charles A.
Conant.

Detroit, Mich. Sept. 3.-The Ameri-
can Bankers association today plung-
ed into a discussion Of agricultural
problems, and outward indications
pointed to the fact tnat the currency
legislation matter would be closed
incident" so far as the present con-
vention is concerned.
The advisability OF forming a Co
operative democracy OF state mortgage
loan banks, united into powerful cen
tral organism, for strengthening com
merclal banking credit" was recon-
mended for consideration OF the asso-
citation by Charles A. Conant The
subject Of Mr. Conant's address was
Land and Agricultural Credit"
Mr.. Conaut began by referring 10
the pressure OF population upon FOOD
supply and the necessity Of increasing
the area Of cultivated land by improv-
ga methods Of extending credit 10 the
farmer lie pointed out that bitter ex-
perience had proved projects for issu-
ing money upon land 10 be unsound,
but that Europe had solved the prob
lem Of the ready transferability of
mortgage loans and low rates OF in
tercst 10 the borrower by taking leaf
from the experience Of the limited liza
biity company in the issue of bonds
and shares
PLAN ~ EUROPE.
IN Europe he said the man who
has money 20 lend upon mortgage is
no longer obliged 10 make personal eX-
animation OF the property. nor to risk
his capital upon a single investment
lu a uon-transferable form. He has
only 20 buy a negotiable bond coupon
or registered. according 10 his prefer
euce-which he can sell as readily as
the bond Of the government and with
even less risk OF fuctuatiOn In its price.
lie has behind the bond not merely the
land. the source Of all wealth. but he
has the pledge of a stock company that
they have examined the properties
upon which loans have been made. that
all such properties are held in the ag-
Eregate as assets against the outstand-
ing bonds. and that the company has
in addition an adequate capital to cover
any unexpected shrinkage in the value
Of the property behind its bonds
The bonds issued by the credit fon-
cier OF France under this system are
made attractive to the borrower by the
system Of amortization by which they
are paid off and by the long terms over
which the amortization extends In the
loans made by the credit foncier OF
France, more than three-quarters are
for periods OF so years or more, so that
the amortization charge involves only
n small addition to the annual interest.
The rate OF interest charged upon loans
during the last few years by the credit
foucier OF France has been 40 per
cent"
EXTENSION TEACHING NEEDED.
The need OF extension teaching in
agriculture. what such instruction
should include, plans for organizing the
work involved IN a campaign OF
agricultural education and what has
been accomplished already, were dis
cussed today by Andrew NJ. Soule,
president Of the Georgia State College
OF Agriculture. Mr.. soule's address,
IN part. follows:
The subject matter considered un.
der this caption may be divided into
four sections. First, is there need OF
extension teaching in AGRICULTURE Sec,
old. what should extension teaching
include7 Third. suggestions for the
organization Of the work along efficient
lines. Fourth, some data with refer
euce 20 the progress and results at.
tained ty this method OF instruction.
The present condition OF our agri
culture is unsatisfactory. II is evident
20 the most casual observer that q
great depletion in soil fertility has
taken place IN recent years; nor has
the malpractice IN this direction beer
arrested. The yields per acre OF ouI
farm crops have fallen to sn alarming
degree, and this in spite OF the spor
adic efforts made here and there tC
maintain or Increase yields on the part
OF the farmer by the use Of various
soil amendments The situation is
therefore. one OF national concern. anc
the importance Of the case cannot cas-
lly be overstated
There is much talk az the present
time OF the movement back 10 the
land. The great need Is to point out
70 the land owner. and 10 the boy and
girl living in the country. the possibi
tiles OF farming where scientific poll
cies are inaugurated. and when this /.
done the urban movement will have
been checkmated.
Farmers obviously need help II