Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-09-10
BY JAMES B. MORROW.

BY JAMES b. MOHhOW.
= 7ERBERT QUICK, yellow haired
I'LL except on his bald spot
I( and gray-eyed, is writer. He
. & is the author of nine books
Some are stories and some are not
His articles alone. political, agricul-
tural, educational, poetical and social.
If brought together, would bulk large
enough to fill a fve-foot shelf
But just now Herbert Quick is an
item of news. personally and poter-
tally. He has become a member of
the new federal farm loan board at a
salary OF $4,000 a year When he
travels-and he will journey much
self. The President, as the law pro-
vides, gave him the place. Mr.. McAdoo
of the Treasury, however, saw him
first. Loans to farmers. under the wing
of the national government, are an I'M
tried adventure in this country.
Elucidation viii be necessary. Per-
haps defense will be required Agri-
culturists, no matter how worthy or
solid. cannot singly obtain money from
the twelve federal land banks that are
to be located east and west, north and
south. new spout has been run into
the Treasury, but the flow therefrom
is to be regulated trickle instead of a
food
Mr.. McAdoo. who is the fifth member
of the federal farm loan board because
Of his position in the Presidents cabi-
net, realized the need of lucid, ex-
planatory and gifted writer of letters
and bulletins. "WiN you send it to US,
or must we come after it? asked one
Of Mr.. Bryan's free silver auditors in
1898. Mr.. McAdoo feared that the same
inquiry might lead to some misunder-
standings in 1915
So he chose Herbert Quick to teach
the nation the money-lending business,
in which, at the command of Congress,
II must. as soon as practicable. engage.
Nor were the other talents and attain
ments OF Mr.. Quick overlooked. He is
a lawyer and farmer and politician,
who. just to fill the ticket and save his
party from Embarrassment, has run
for small offices and large ones. includ-
ing judgeship in the supreme court
of Iowa, his native state.
Tell me how farmer can borrow
money l asked Mr.. Quick. under tho
law passed a few weeks ago by Con-
gress. Can he walk up to the Treasury
in Washington and get any sum that
he wants."
mo. he must unite with at least nine
OF his neighbors or residents of his dis
trict and organize a national farm loan
association. These men. all wanting to
borrow money. at least $4,000 in the
aEgregate-must be owners or about to
become owners of farm lands.
The loan desired by each cannot be
mr.
the money borrowed must be used in
the purchase Of land for agricultural
purposes. or for the purchase Of equip
ment, fertilizers and live stock. or to
erect buildings for the Improvement Of
his farm. or, finally, to pay his debts
What security will be required Of
borrowers?"
own and on the buildings situated on
tho land" Mr.. Quick replied. mo
loan. however. can exceed half the val
ue of the land nor more than one NTH
of the value Of the permanent improve
ments, which must be insured against
fire. and SO on"
Does the law help a tenant who is
ambitious to obtain farm of his own %
"It opens the way for him to become
the owner Of the land on which he
lives, provided he can make a bargain
with his landlord. For instance: John
Smith, a tenant. buys 100 acres OF Will
liam Jones and agrees to pay $50 an
acre for 1t, or a total Of $1,000. Smith
has no money, but he Is an honest and
industrious man.
There is a national farm loan asso-
citation In his county. He applies for
membership, and inquiries by officers OF
the association are made as to his char
acter and the value Of the land he de-
sires to purchase, together with the
terms offered by his landlord. A gov
eminent appraiser says that tho farm
is worth 5000. His report Is examined
by other officials outside the county or
community and is approved.
"'In course of time John Smith re-
ceiyeS $4,000, or sum equal to half
the value Of the land, and gives hrst
mortgage for that amount. Then he
may sign a second mortgage Of $500,
payable to William Brown. the land
lord. and thus gain possession OF the
farm.
''The first mortgage may run for ave
or forty years. 1t Is paid of by INSTALL
ments. The interest cannot be more
than 6 per cent; 1t will be less, prob