New Britain herald., 1916-10-02
INTEREST RATES IN
 NEW ENGLAND LOW
Banks Loan Farmers Money Here
 at Reasonable Cost
Especial to the Herald.)

Washington, Oct. 2.-Interest rates charged by New England banks to
 farmers in that section are reason able, according to official authorities
 here who have been Investigating the
 subject in connection with the or
 ganization of the farm loan banks that were authorized under the so- called rural credits system created by act of the recent session of congress.
 New Hampshire was found to have the lowest rate of interest charged on farmers loans in any state of the union. The New Hampshire rate of
 interest on such loans is said to be less than per cent. So that, it is
 believed, the new law, which author izes loans at per cent, is not ex- pected to greatly help the farmers of New Hampshire.
 New Hampshire was found to have
 the lowest rate of interest charged oil farmers loans in any state of the
 union. The New Hampshire rate of interest on such loans is said to be less than per cent. So that, it is believed, the new law which author
 izes loans at 5 per cent, is not ex- pected to greatly help the farmers of New Hampshire.
 Rhode Island, Connecticut and Massa chusetts also have prevailing low rates of interest on loans to far mers, 1t is stated by Secretary Elan nagan of the national farm loan board. In those states, it is said, the rate is about per cent.
 The average rate of interest pre- vailing throughout New England, it is stated, by MT. Flanagan, so far as loans to farmers are concerned, is only six and a fraction per cent
 Contrast this with the rates of in- terest which the farm loan board has found to be charged in some parts of the west and south. In the middle west. for ins' 'ance it is declared that banks not infrequently charge as much as per cent. per months in- terest on loans to farmers. Annual interest rates in some parts of the west and south often range around 60 or 70 per cent it Is said.
 1t is believed that the spread of Knowledge among farmers that they can obtain money from the farm loan banks at per cent. will go far to- wards remedying the conditions of usury which are painted by the farm loan board in gloomy colors. Incl dentally democratic politicians hope that the announcement that farmers Tn some sections may be able to re- duce their interest payments very largely will help the democratic party, which now claims credit for enacting the rural credits law
 The bureau of labor statistics of the United States department of labor has Just issued a bulletin on unem- ployment in the United States Not a great deal of unemployment was round, it appears, but some exists. The bulletin says that "the lowest 1 percentage of unemployment in the / cities studied was found in Bridgeport, l where only 4.3 per cent. were unem- | ployed, although 19.9 per cent. were | reported as working only part time." Other cities also showed a high per- l centage or work. The highest per | centage of unemployment found in l any of the 16 cities was found in Du- | luth, Minn., where 20. 3 per cent of all l wage earners were reported without 1 work of any kind, and 17.S per cent. 1 were working part time.
 In what will probably be the last number of the Congressional Record for the last session of congress there as an extension of the re- marks of Representative Foster of IT. l1no1s, one of the democratic leaders Of the house, a full report of the ad- dress delivered by Homer S. Cummings of Stamford, vice chairman of the democratic national committee and i member of that committee for the state of Connecticut, upon the occa- sion of his assuming the chairmanship of the dem ocratic state convention held at New Haven, May g, 1916 The Cummings speech fills six pages of the Congressional Record, which was re- gently published long after congress adjourned. It is accompanied by l headlines, subheads parenthetic re- marks indicating the applause MT. Cummings received, etc.
 Several Connecticut veterans are going on the special medal of honor roll that has been estab ablished under authority of an act of the recent ses- sion of congress. Only persons who have been awarded medals of honor | by reason of gallant or specially meri- torious conduct during wars of this country are entitled to go on tho roll. The enrolment entitled the veteran to a special pension of s1O per month.
 The adjutant general of the army has announced that Wallace A. Beck with of New London and Samuel E, Homer of Winsted, Conn, have been ] placed on the roll