Lincoln County times. (Jerome, Idaho) 1911-1919, 1916-02-03
RURAL CREDITS.

81 'h' FARMERS and settlers
VI the northwest are DESTROYS Of a
system Of rural credits. the svsta,,
must De brought about through local
EFFORTS, and not depend upon national
legislation to bring It about Speak
ing OF rural credit legislation. the
capital News Of SUNDAY gives an
opinion Of Frank G Odel. now sec
rotary Of the American Rural Cred-
us association. Ia which he saws the
FARMERS OF the country. and especial
~ the middle west. are becoming i'm
patient because the administration
mas not done more to carry out its
promise OF rural credits legislation
tach OF the three leading parties In
the last campaign included rural
credits planks In It's platform. and
the farmers had every reason to ex-
pect some remedy regardless Of who
Was elected president Government
officials have recently made public
ngurca which show that In many To-
calitles farmers are made the vie
Tins OF usury and have paid as high
as l2o per cent interest These dis
closures. together with the activity
of those Interested In the financial
welfare Of farmers. have created d
strong demand for some measure OF
relief There are now us rural
credit bills IN congress. Offering about
az many different solutions OF the
problem Some provide for direct
lending By the goyernment-w which
should not be thought of and others
merely for government supervision
Oi all banks lending money on farm
lands There IS no reason why con-
gress should not enact d wise law
during The present session. Farmers
want 20 know why other governments
make provision for cheap loans on
valuable lands. while this country
does not 1t is question that should
have been answered good many
year. ago and would have been ans
ncrcd % the farmers had been a"ak-
cned 20 the possibilities Of Il good
plan for reducing their interest bur
den Mr. Odell rightly surmises
fha, rural credit Is almost as I'm
por,an, 10 the farmer as prepared
ness and that he will be- satisfied
with nothing short OF some definite
step which. II It does not AFFORD re-
lief a, least promises it within a
shor, time
As We stated above. judging from
what Mr Odell says. there IS very IT.
H.. TO expect from national legisla-
,ion during this session Of Congress
and any efforts IN this direction must
d. brought about either through state
or local efforts
We have heretofore called atten-
ZION 10 the system OF rural credits IN
vague M Weiser. in this state, ana
urich has now been in operation Tor
the mast year. and is meeting WIN
,re,, success Last week the busi-
,.ss mon OF Caldwell adopted the
same system which will be put INTO
practice at once.
Tho Weiser plan. which has re-
caived favorable notice at the hahus
-, ,aderal reserve bank officials Is
an. for the extension of what Is
known AZ personal credit The ranch
,.ho wishes credit in order to car
- an his operations until harvest
,,mo executes a crop or chattel mort
,..,o which runs to the trustee Oh
,ho association. In return he receives
aor,,acates with which he makes
..,..hasas Of the association mem
nors exactlv as though he were pay
,ns cash The trustee makes recon-
,,o,dat,ons as to the amount oil 'ne
,nor,eage and certificates advisaule
80 ho made out. and also keeps wa'cn
=" ,ho borrower to see that he gives
his crops careful attention.
we feel that a system of this kino
could no successfully carried out VI
,orone and we would like to see
some of our business men get inter '
os,od enough to investigate the pan
and hiring it before the other ousi,
ness men of the town with a view Oh
adopting some such a system mere