Pine Bluff daily graphic., 1915-12-12
MOVEMENT FOR FARM CREDITS
 PROGRESSING
Seventeen States .Hav Q Adopted Laws to Help
 Owner of Farm Land.

In an address before the National conference on Marketing and Farm | credits at Chicago recently, Myron T. Herrlck, former governor of Ohio. cited laws of r. states to show rb ba , amazing headway that has been made Ill the use of cash and credit of gov ernment for the aid of farmers, He points out that
 ARIZONA has permitted the pro- eeeds ct state lands to be invested in tarm mort gages.
 CALIFORNIA adopted a resolution to amend the constitution so as to permit the stale 10 use public funds and credit for farmers. This was beaten at the polls.
 COLORADO has permitted funds derlved from certain public lands to | pe invested in farm mortgages | FLoRlDA has exempted all farm l ana grove products from the license tax wren offered for sale by growers INDIANA has given to rural loan ] ala-saVlnSs associations the priyi- l iege ef requiring the auditor of state to serve as trustee of the, farm mort sages securing their bonds. l GEORGIA adopted q resolution to ann nd the constitution so as to ex- ehpt from taxation all farm plso- ducts, including baled cotton in inc iiahds or the producer, This was ap- prcFsd at the polls and a law has l neen passed accordingly. Georgia alSo memerlalized congress to mass ona of the state-aid bills pending for rural credits.
 KANSAS now permits the holder of l lafm nor gage, deposited with the st"u5 treasurer, to issue bonds certi- l iled by that official to the effect tha, ne security is ample and is title perfect.
 LOUISIANA adopted q constitu- 1lonal arendment authorizing ex- empticn from taxation of lands inn proved tor hom9steads by Or for immi- grants. Louisiana also has enabled Ehe owner of rural real estate to is sue bonds up to 60 per cent of the value as appraised by a. Commission or three bank cashiers of the parish 1 two or whom shall be appointed by the district court. The mortgages must be made in the name of the sheriff as trustee. The bonds may Ina registered with the county clerk and hiaae payable to bearer, without inn posing any personal liability on the maker for their payment.
 l MINNESOTA adopted resolution to amend the constitution so as t, permit permanent school and mi Yerslty funds to be invested in farm mcrtgages. l M!SSISSIppT
 gress to pass One of the bills pend- ing Ter rural credits that provides for the creation of public land credit banks with power to issue bonda guaran. ed by the U. s. government Ter raising money for farm mortgas- ing.
 MISSOURI passed a special act creating a public land-credit hank to be managed by the Governor and other state officials with power to issue t3x-exempted state-guaranteed bonds for raising money for farm mortgaging.
 MONTANA has created a depart- ment of farm loans with the state treasurer as commissioner and the county dreasurers as local represen- tatives to issue bonds and make tax exempted loans on farm lands.
 NEW YORK has created a highly privileged tax-exempted land-credit bank with power to issue bonds upon Ehe security of farm mortgages trus- teed with the state comptroller.
 NORTH DAKOTA adopted a reso lution to amend the constitution SD as to permit the use of funds and credit of the state in forming agri- cultural credit associations.
 SOUTH DAKOTA adopted a reso. lutlon to amend the constitution so as to permit the state or contiguous counties o create and maintain rural loans.
 UTAH passed a law on co-opera- tive land-credit banks with power to issue bonds upon the security of farm mcrtgage: trusteed with the state treasurer.
 WISCONSIN requires the assessor UT incomes to certify the value of 1arm %tgages taken by land-mort- gsge associations, and the state treasurer to serve as trustee of the securitiag for the bonds issued by such associations.
 In the Philippine Islands the government agricultural bank has been creatsd by special act.
 In Porto Rico the semi-public 1nsular bank has been created by a special act for extending credit on farm land and to agricultural enter