Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1913-02-26
Rural Economics.

iNSSolu u,
published by the National Depart
ment of Agriculture, states that a
comparative test Of the Of
kerosene and gasolene in an internal
combustion traction engine proved
that with gasolene it cost 72h cents
an acre to pillow land with the trac-
tor, while when kerosene was used
the cost was reduced to 58B cents
per acre.
The Record also states that in
Prussia there is a growing practice
among farmers Of borrowing money
on mortgages on their FIRMS acd at
the same time insrIing their lives
for enough to pay OF the mortgage at
their death. The interest rate is so
low that they haze no difficulty in
keeping up the annual interest, and
the farm is left to the children, after
death, free Of REMEMBRANCE. In Den
mark the fa-,ners have for many
years successfully operated mutual
insurance companies of their own
which give them insurance at actual
cost against fire, storm, lightning,
hail, ETC., such insurance covering
live stock and crops as we'll as build
ings and their contents.
The Royal Agricultural Benevolent
Institution of England provides en-
sions for aged and disabled farmers,
their wives, widows and unmarried
daughters. Since it was founded in
1850, it has thus provided annuities
for over $500 persons at a total cost
of more than three and a half mil
lion dollars.
There has been much discussion Of
late by American public men and
public journals of the rural loan ar
engagements by which European far
mers are enabled to borrow money
at interest rates as low as those paid
by railroads and municipal corpora
tons; while the farmers Of this
country must pay rates higher than
the railroads, which will be a matter
OF surprise to Ii people, and will
i'NSis IDSll ptluS " lGdlIl
that the minor State of Rhodesia, in
far-away South Africa, and the in
significant Latin State of Uruguay,
in South America, are utilizing these
rural credit societies and borrowing
money at 4 to 5 per cent, while
American farmers, who imagine
themselves at the top of the heap,
continue to pay 6, Z, 8 and up to 10
per cent for loans.
In Uruguay, by governmental en-
actment, a rural credit section was
established in the Central Bank Of
Uruguay with an initial capital of
half a million dollars. The same law
authorized the organization Of local
cooperative rural credit banks to be
owned by the formers and supervis-
ed by the Central Bank.
In Rhodesia the land bank, estab-
lished by the government for the
purpose Of encouraging agricultural
development, makes loans for the
purchase Of lands, the improvement
Of lands, the purchase of live stock
or implements, or to pay off prior
debts on lands. Not more than $10,-
900 can be borrowed by any one
party, and no loan is made for a
longer period than ten years, and all
loans must be repaid in annual in
stallments commencing 4 with the
third year.
These associations are all pattern
cd more or less closely after the land
mortgage associations Of Germany.
Land owners arrange to borrow
money from an association which
issues it's bonds, just as a railroad
would. The farmers execute mort
cages on their lands in favor Of the
association, and the association uses
these mortgages as collateral to Sc
cure payment OF the bonds they sell,
and the money obtained by the sale
Of the bonds is loaned to the farm
ers on their mortgages.
Our quite recent utilization Of
Postal Savings Banks and tine Par
cells Post, and our coming adoption
Of rural credit associations for the