Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1913-10-18
Farm CREDITS lLN
CERTAIN D C.,kE
LEGISLATION BY CONGRESS IN
NEAR FUTURE FoREsEEN IN
WASHINGTON.
WOULD GIVE nooR MAN
CHANCE TO OWN LANDS
Loans az Low Fate of Interest Need
Of s-reeent Because ef Rapid Advance
in Farm Vatues-System Might 30
Extended to Include Livestock and
Machinery.
Especial correspondence

Washington, Oct. 1S.-Indications are
that it viii not be long until this coun-
try has legislation providing for an
agricultural credits system. Enactment
i such legislation is probable at the
l-ext session of congress.
Efforts have been made to get a pro-
vision in the pending currency bill for
rural credits. They failed in the house
because the president did not want the
matter handled in connection with the
currency bill Most of the house lead
e1s took the same view. So the expec-
tation is that subject will have to be
treated as separate piece of legisla-
ton 1t will be SO treated unless the
senate, which is going to give the cur
rency bill thorough overhauling, de-
cides to make provision for It, Should
it do so, the house could not well turn
it down.
Committee Investigating.
In any event, the house committee
on banking and curren y has decided
to explore the field of rural credits and
subcommittee has been named to
make Investigations and prepare bill.
This will be submitted to the coming
session Of congress. Enactment of leg
station on the subject may be looked
FOR at that time.
Pressure for the legislation is strong.
Both the old parties as well as the bull
nluuse, are fer <. Demand for 1t from
the agricultural sections is growing.
People in this country, especially in
the farming states, and the agricultur-
al sections, are approaching more than
ever the fact that interest rates de-
handed for farm loans here are much
higher than they are abroad.
This is great handicap to farmers
and is no small element in the present
cost of living.
Advancing Prices Demand Il.
Furthermore, the price CT land Is
steadily advancing In the United
S ates. An Iowa man came to town
the other day and told OF selling land
at 5000 an acre for farm purposes and
that. However, with the high prices Of
man of small means getting landed
property are getting more and more
serious.
In France, where interest rates on
ia m mortgages are In the reg on OF
-. -
are much h CHER, it is possible for the
man Of small means to buy farm prop
erty cause he is allowed long time
to pay for it with low interest rate.
s. it is in Germany. Supporters OF
he idea of a system Of rural credits
believe a system can be put into eff
{ ct here, containing good features OF
the French system and perhaps OF the
German and save vastly in interest
payments made by the farmer.
Won't Stop at Land.
The system If established will not
sop with merely application Of an
improved credit system to loans on
farm lands. 1t will be broader than
that. It is likely to reach out to loans
on livestock, on crops. on homes in the
towns and cities, on small busine SO
stocks and on comparatively wned
Properties and businesses If 1t brings
he relief expected, that relief will ex-
nd not only to farmers and buye RS
# farms but to various other elements
f the population.