The Caucasian. (Clinton, N.C.) 188?-1913, 1912-09-26

aud sorty-three million dollars.
Practically. the interest account OF
the farmers ate up The total wheat
crop Of the entire country.
Manufacturer Borrows Against HI.
Goods
The manufacturer borro~a against
his piles OF textile goods, Of copper
ingots. Of steel bars. Of lumber stored
st the sag-mlIIs. and almost any sort
OF manufactured products. >, 4 rate
not much more than half the rate
charged against the farmer, with his
best Of collateral In the shape OF
wheat. corn. cotton and other prod
ucts.
No thinking man. looking the
facts clearly In the face. believes that
the rate TO the farmers il a just and
reasonable interest rate. He pays
far too much, both for the money he
gets on mortgage and for the money
he borrows 10 make his crop. He
has the finest security for current
loans there is In the world. namely.
products that go into immediate con-
sumption and that sell, in all the
markets OF the world, every hour OF
the day; yet he pays a rate double
the rate paid By the manufacturers
OF industrial products that have 10
be marketed with great skill. often
on a treacherous and delicate mar
ket No one contends that a thou
sand dollars worth OF women's dress
goods is as good collateral, from
standpoint OF marketability, solidity
of value. or freedom from deprecia-
ton, as an equal value in wheat or
cotton"
In discussing the conditions under
which the German and French farm
er, in fact, the European farmer, OBJ
tains his loans, at a much less rate,
he gives us this information
| ''These German farmers obtain the
money that they need on mortgage
at rate never exceeding per cent
gross and averaging around 4.40 per
cent. This includes all charges and
cost, and is the gross rate that CORE
spends with our gross rate in this
country of about S1a per cent
I'm Paris there is a great institu-
ton called the Credit Foncier, which
really makes the rate on farm mort
gage loans in France. This company
was established in 1852, and from
that time to the present has carried
on it's work without interruption from
panic, war, or any other cause. At
the time of the foundation of the So
ciety, the nation was at war and the
system of titles in the country was
so weak as to seem to make it i'm
possible to carry on, with any de-
gree of success, a large central lend
ing society. The society started
j with Government support, but has
not since needed Government help
and up to the present time, the loans
to the people have totaled more thar
two billion dollars.
THE amount loaned by this so
ciety is generally one-half of the ap
; praised valuation. The interest rate
; varies, but is always less than PEI
, cent. At the present time it is 43(
= per cent. In other words, the French
) farmers are getting money at one
= half the rate of interest the American
farmer pays. The loans, moreover
, are made from ten to seventy-fiv,
5 years, and are retired in very small
/ installments from year to year. l
farmer prefers, however, he ma,
borrow on short time loans runnin,
l from one to nine years without pay
r ing off any of the principal year b,
year. If farmer wishes to build OF
his land, he can obtain through tn
Y Credit Foncier a mortgage credi
J., based on the value of the land an,
= the building to be put up. This
D temporary accommodation, and whel
4 the building is completed, its cos
4 can be added to the loan"
Caused New Order of Things i'm
Germany.
e I cannot refrain from quoting fur
t Their from this article which appear
s in the Worlds Work for August, 70
it contains call to action by tn