Carroll County democrat. (Huntingdon, Tenn.) 188?-1971, 1912-12-20
THE QUESTION OF CHEAP MONEY
FOR THE FARMER.

think talk this week on the CUES
ton of cheap money for the farmer
would cause many OF them to prick up
their ears and read carefully what is to
be said on this subject. President Taft,
few weeks ago, made some sugges-
tiOns looking to the formation of line
of credit to farmers at a low rate of in.
terest by banks, modelled after the plan
now in practice in some OF the European
countries.
The farmer is certainly entitled to as
low rate of interest as any class OF
borrowers and if the wide-awake, ener.
getic, saving farmer could secure credit
at low rate of interest it would be Of
great assistance to him in adopting and
keeping up better system of farming
While that is true l have known a few
farmers to go broke simply because of
having too good credit and finding it
too easy to get into debt.
l was talking to the president of one
of the best banks in Nashville few
days ago and in discussing this question
he said that the banks recognized the
security of the farmer as being more
substantial than the security offered by
the merchant on &is stock. In the first
case the value of the security was APP
preciating all the time, while in the lat
ter, in many cases, it was depreciating.
He said that the banks would prefer,
with the right kind of safeguard, loans
to farmers but oSe of the troubles that
he had experienced, was as "a rule, the
farmers were lax about meeting their
obligations. They feel that they are good
for the amount and could suit their con-
venience in paying off their note or in
having it renewed; that the business
man had learned that on the date the
note fell due it should be paid or renewed
promptly. Another thing that has been
against the farmer is his one-crop sys-
tenn that would only bring him in money
once in the twelve months while the bus
mess man would have money coming in
all the time and loans could be made to
the business man for short periods while
If a loan was made to farmer it muse
be carried throughout the year. One
remedy for this is being worked out in
the diversifcation of crops, giving the
farmer something to sell throughout the
entire year and in this respect putting
him on a basis equal to that of the bus.
mess man.
l am very much in favor of the farmer
getting every advantage possible.
We must learn one thing, and it is
one that we cannot get away from;
money is worth what it will bring and
those who have it to dispose of are 60.
ing to place it on the most profitable
terms for themselves. No doubt our
banking systems could be improved in
some respects, but it is within the power
OF the farmers to do great deal towards
improving his credit and the rate of in
terest he will have to pay, by his prompt.
ness in attending to all obligations that
he makes. As the farmer becomes more
thoroughly recognized as the shrewd bus
mess man, in that proportion will the
objections be eliminated. We have farm
ers all over this state today who are in
position to secure money at as low a
rate of interest as business men in any
other lines can secure it, and when the
whole matter is sifted down, the only
material difference that will be found is
in the long time the farmers paper has
to run because of his system of farming,
and in some cases his inattention to
meeting his obligations when they fall
due. That, more than anything else, is
placing him at disadvantage as against
the business man. The things most nee
essary with the farmer is to be more
thorough in his work, to have a greater
regard for economizing time, meeting his
obligations promptly and adopting strict .
business methods in his matters. AS he
becomes such he will find the inconveni-
ence he now encounters out of his way,
and finds himself on the same plane with
the business men in other lines There
should be more cohesion among the farm.
ers in unity of action. They should
specialize more in planting their crops
and in the live stock they raise.
1t matters not what vocation in life
we follow we are not going to find any
regulation that will insure prosperity to
us without true effort, energy and in.
telligence on our part. The man who i'm,
AGNES this possible viii be doomed to
disappointment, and the sooner he,real.
lies it the sooner he will be one the road
a. ,,~o,,.nr;4x,