The Parisian. (Paris, Tenn.) 1907-1962, 1915-04-09
FINANCING THE FARMER
Captain Peck Tells Some Inter.
esting Facts.

WlillC CultlNdtlIiS anu lldI NSSliiiS
his crops, and in many cases to
enable him to hold his crop until
a profitable market is found, no
one questions just as the -mer-
chant and the..manufacturer have
to borrow money to meet their
bills as they mature, while wait
ing for their bills receivable to
be paid. When the. business man,
whether he is a manufacturer or
merchant, prepares to engage in
business, one of the first things
he does is to establish line of
credit.
If you investigate the person
mel of the stock holders of the
banking institutions of the coun-
try you will find that they are
composed of merchants, manu-
facturers, retired business men
and a few farmers; and in every
case, where farmers are stock
holders, they are progressive be-
cause they realize that farmers
should lbe business men, that
they can use cash at times with
great profit in taking advantage
of best markets for products.
Any sane man must realize
that when the capital in banking
institutions is provided by mer-
chants, manufacturers and pro-
fessional men that it is natural
for them to secure accOmmoda-
tons in the way of loans at best
interest rates.
Farmers as a rule, when they
have surplus, either keep it on
open account or on time deposit
at a low rate of inserest.
I am glad to see this question
of Rural Credits agitated, be-
cause solution will not be any of
the European plans that have
been agitated; neither will it be
s-s:S prUv.stUI c. S--rital by the
National Government, but it will
be the farmers themselves work.
ing out the solution.
You remember the story of the
farmer who had a field of wheat
that was ripening and he and his
sons waited from day to day for
their neighbors to come in and
help harvest it. After many
disappointments they realized
that if they depended on their
neighbors they would loose their
crop. So they went to work
themselves and saved it. Just
so with the farmer of this coun-
try. They know, or should know,
that with our present banks, fl
nanced by people other than far
mers, that those who have fur
nished the capital.will and should
get first accommodations. Like
|. the farmer and his boys with the
field of grain, the farmers must
| realize that to be successful one
must practice modern business
methods; that if we want money
to hold our crops for good mar
kets and take care of labor, ex-
penses of cultivation, and har-
vesting, the most practical thing
is for the farmers to get their
surplus money together, if ithey
have a surplus: if not, then do
like many merchants and manu-
facturers do-borrow money to
buy bank stock. ! know of sew
eral manufacturers who have
large blocks of bank stock that
at the same time are large bro
rowers. Their bank stock brings
them in a steady income all the
time. 1t insures them accommo-
dations when they need it. They
only borrow for the time they
need the money. They are
prompt in taking care of their
obligations.
!; Farmers have not appreciated
the Importance at all times of at
tending promptly ano in a bust
ness way to their obligations at
the bank. They thought in too
many cases, because their paper
was safe that next week or next
month would do as we'll as today,
| hono,co - x,,aa eafo ar1 dro min, NJ