The chronicle=news., 1913-01-06

tenants were abb - give good security
or indorScd note I"r a loan, Oi these!
IN some communities. over a third were
ui,able to secure ,hor,-tinie loans and
10 per cert. were unable to secure long.
time loaus. Mortgages appeared to be
,hc main ,ecnrity. Local banks are the
pr'u.'pal source OF agricultural loans
,upp'yi's; iuily hall the credit. country
tore are u hiH actor. and neighsOrS
AVID individual lenders also figure
In some cases indns;ricS which nave
close relation. with the farmer have been
compelled TO take me, ,urc> To help HIM
with hi, burden oi l,iIli credits. In the
west tie sugar beer iac'oric, cooperate
by gatire II easy for the farmer to buy
rci and they contract ior his, product
IN advance AZ 4 fixed price. Some Ut
tile factories, III order 4" gr, the iarmcn
interested in sugar bee: growing. pur-
chase land and WORK j, 10 demonstrate
the great possibilities Of the crop and
then sell the land On easy terms ~
purchasers.
In Europe system. of agricultural
credit have been thoroughly worked out.
IL Germany the credit machinery
include :: system oi popular agricultural
banks. most oi them based on the prin-
'iple ct cooperation among farmers. and
cultural associations formed III various
localities. tic members oi which pledge
their united rcsourccS to the credit OF
il'e ASSOCIATION which is thus able -
borrow nOucy st u low rate and rc-ien1
to individual mcmbers .i practically the
same rate fiiiv farmers form the
average membership Of such 'psnrcrs,iye
organizations.
iu France tile famous system of mort
gage bauks known a, the Crcdit Fonci-r-
Is the fountain head o' iarm credits.
THIS organization loans money Tor long
icsnS "n farm mortgages at ~ per
cent. and i.,uc. bonds againS, the mort
gage at J per cent. The bonds are
readily negotiable. even n, tho low rate,
hscau,- n' . lottery feature attached TO
;hc system hy which certain numbers
draw libcral prize. The mortgage
banks enable the farmer to buy hi, land
and give him long tine to pay. Mort
gage ma, frn twenty-five or even tifty ,
yraf.. while IN this country five years is
nearly the limit and renewals are es-
pcn.iyc iDr the farmer
While these systems are instructive
ore. Tor American study. i; will require
more than ye;ntneniai or stale iiat to
cut the intcrcs, rates charged In farmers,
III i'li. The mortgage charges TO tho
Cofuriu farmer are hall those levied on
the Imcrican farmer. hut the German
farm lands are twice A. productive. As
an iuyc, ,tmcnt tlicy are 100 pei cent.
better. So i, i apparent that the American
farmer mu.t get better results from his
Land aud Maic the farm 4 better risk
before hr can secure credit on term ap-
proachimc those enjoyed by Fres,eh and
German farmer.
In Northern Europe the big increase
In farm Yields. aS i pointed OFT in =
rcpor, in>, issued BY the Department Of
agriculture. has come during the pas:
hall century largely through, the ex-
tension oi sugar Lect culture in rotation
with crops ol staple grains on the same
land Tie culture OF the beet. from,
which Northern Europe now derives all
IT. own sugar. rcpuirc, deep plowing and
thorough working of ,lic soil. 1t has
become. ia Europe. tho basis of system
OF scientific agriculture which has re
iuycnn,cd lands formerly supposed To
he worn o.it While beet culture in the
United States is still III its infancy the
highest agricultural authorities. including
Secretary Wilson and DIR. Harvey w.
Wiley. agree that its encouragement will
result IN restoring this country TO the
commanding position among food pro-
ducing nations which wastciul farming
methods have lost to us Similarly. hy
making the american farm twice as pro-
iuctivr as at present. 1t will help !"
sccur. far better terms OF credit f0r the