Mountain Home Republican. [volume] (Mountain Home, Idaho) 1915-1946, 1916-01-29

WEISER FARM CREDITS SYSTEM
Editor Of Weser Signal Describes the Operation Of System of Rural
Business Credits That Has Proved Highly Successful His Community

L. |. PURCELL in Gem State Rural

the system OF tagn credits adopted
by the business men OF Weiser,
wish to emphasize two or three
things ut the outset. First, the
plan villa not at first appeal to the
business man who is in position to
demand security for his merchandise
as he feels that he has all the pro-
lection he needs. But after closer
study he will see that even he eau
get some good out OF Vt. Second. 1t
will not appeal to the farmer who
| figures ON gliding through this world
without paying his debts. for It pro-
| yides for a payday. Third 1t is not
a panacea for all our financial Ills
and will not and cannot take the
place OF government rural credit
based upon cash transactions. The
Weiser plan is In reality creature
OF necessity. and briefly will detaa
its origin and scope.
About a year ago Mr' A. 5. EVER
| est came to Weiser to look after the
interts.s OF the Pittsburg, Pa. bond
holders OF the Crane Greek irrigation
project. Being u business man OF
keen insight, he considered It MS
first duty to look into the condition
OF the settlers under the great iGlga-
| ton system. rightly concluding The
| best wey to insure the stability OF the
| bonds was to devote a good measure
of his time to planning tor the sue
cess OF the farmers. 1t took but a
short time tor him to discover that
the farmers were Handicapped by q
lack OF money and consequent
| lack OF credit.
He found that in many instances
the farmers had been compelled TO
mortgage their crops or stock, and
someti both. to one business
house for the meager supplies neces-
sary to feed themselvs and their
families, or for implements to work
with, while putting in their crops.
Sometimes these mortgages were
taken TOR as little as S25 or $50.
Then ii the farmer wanted some
thing of some other merchant his
credit was impaired and either the
other merchant carried him and
took all the risk or refused him and
forced him to curtail the develop
ment of his own farm while work
ing for someone else to earn money
to live on. Instead OF farming 40
or 80 acres and being able TO get ON
hds feet he probably farmed 10 or,
20 acres and II he had big family
he found himself at the end OF the
year Just where he started, on a
little worse Off.
The merchant was not always to
blame. Many OF the men asking for
credit, particularly the home gteaders,
possessed nothing but team, wagon
and harness However honest they
were the merchant might know but
little OF them, and could not leave
his business and drive miles into the
country to see If they were thrifty
and were likely to be in position to
pay. Often the same merchant has
taken a second mortgage, and third.
In order to see his customer through,
and then II the farmer did not pro-
perly attend to his crops was COM
PEELED to take all he had to get
square while the merchant who ex-
tended credit without security found
there was nothing left for him.
Hundreds of honest farmers in south |
ern Idaho have bought land on par
tial payments while others are home |
steaders, and both classes have
found themselves handicapped by |
reason Of having nothing but few
nttu vi olOCh dIu d pIOSptClFt SIoP
to base credit upon. II one merchant
took his security the farmer found /
himself barred when desiring to pur-
chase goods handled by someone
else Or of another character.
The Welser plan provides fer an
organization headed by president,
with a secretary and treasurer, and
a committee of three to pass on the
of credit TO be granted the
applicant. 1t also provides for a
who acts as secretary, and
whose business 1t Is to look UP the
applicant IS resources, his kill as a
farmer, the amount Of his indebted
ness, to make O. recommendation TO
the credits committee on the amount
Of credit which should be extended.
and, after 1t Ia granted. to see that