The Leader, enterprise and press. (Fitzgerald, Ga.) 1915-1921, 1916-08-16

Fog selfish political of would-be savos" of
the farmers endeavon msead you
credits passed by the administration The oppo
eo 10 some of and to President Wilson
Fishing knowingly constructions of the credits are
mot borne by the facts.
IL IS made appear you at per cent annually
including the the principal provides is no
than what you paying long loan corporations
ana the banks tor your money now in they past They fail
give you credit for understanding thus insult your
intelligence Under the Rural Credits money
at interest including the annual payment principal
not than 5000 every $4,000 borrowed and
he" the last interest date past your entire debt paid
est ard principal Under the old borrowing no matter
years you have paid your interest from
TO III per cent still the original
the government Rural Credits Act Your obligation discharged in
4u when you meet your annual interest per
rate but be other state
reference this misleading mostly in
tentonay with full knowledge OF the who makes them
congressman Parks used the following
the new law i'll Georgia:
How the act will affect Georgia According census of 1910
ere were operated by owners part and of this latter
number 1927 farms morgaged 100000 This
indicates exceedingly small percentage comparison
with those morgaged many other average rate paid
ON fnese mortgages 2 per commissions and
the total paid these on their moreaged
EARNS $0O0 Should mortgages be transferred TO
the Federal basis farmers of our state
VINO NOW nave their farms mortgaged will be saved $31
ccrest annually If lower per prevails the saving
proportion The proportion of farms mortgaged was higher
IN IOWA and Wisconsin than any other yet two states
are among the most the country agricultural
standpoint
loans are made only for the purpose purchasing land for
agricultural uses or for of providing equipment and live
S necessary for farming improve buildings or for inn
peot ON farm lands qudate the indebtedness Of
ot fano aey morgaged Loans may made only upon duly
eced hrSt mortgages lands improvements These
o are made tor 50 of the value the land and 20 Der
Cent OF the value of the Improvements The of any loan shall
not exceed $4,000
Ut farmer borrows $1,000 for trtyx years at per cent in
e h the payment of $3.50 year debt and interest
fuiy paid at the end of that period
The law will permit loans least forty wears
% borrowers reasonably long period of repayment The
~ m tarnorgage debt under conditions has been the
pressure 10 repay within short period has entaied hardshps
ON the family 1t has robbed the children education II has
prevented The taking of short trips of travel made
eo an opress and has given mortgage destructive influence
over the destnles OF the family of the debtor under former
these influences could not be avoided law does
away with these evils provides MORTGAGE contract that cannot
&c recalled No foreclosure take place except for failure on the
a OF the debtor fulfil the conditions his contract No re-
ewa charges or commissions be Every payment
u oae principal OF debt you have the assurance Of
wg that II your regular annual payments are made your debt
be dscageda the end of the contract period without anv adj
na payments part Should borrower desire to make
payments at time he do shorten the
d OF his contract He off his entire debt at anv time
W may wish to do Therefore he not lose any freedom b
MAKING longtime contract he is only insung himself AGAINST
pressure to out large deprive himself and
Sanity" ~ ~