The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1916-10-31
Federal Land Banks.

|
to be established a Farm Loan Bank
under the terms of the Federal Farm
Loan Act. The main objects OF this act
are:
/. To provide capital for agricul-
tural developments.
2. To create a standard form of in
vestment based on farm mortgages.
3. To equalize rates of interest up
on farm loans.
4. To furnish a market for United
| States bonds and to create govern
ment depositaries.
When a few years ago under the
present national administration Fede-
raj Reserve Banks were established in
various sections Of the country, they
abolished the financial panics of the
past. The day at once passed when
the South and West went fearfully
pleading with Wall Street for money
to move their crops of cotton and
! grain. No one questions the wisdom
Of the es Enlistment of such banks d .
day, and yet with its vast brains and
frequent opportunities the Republican
party which has ruled this country
more than fourfiths of the time since
the Civil War, no such financial safe
ty valve was established.
We venture the assertion that with
in one year from the establishment of
the Federal Land Banks % aid the
| farmers and to establish homes. there
will be no argument as to the wisdom
Of their establif lment.
G. w. Norris, Chairman of the
Board. stated in Macon merely as n
prophecy and not as a fact that the
rate at which farmers with borrow
money would be no. :~oTe than I've
and one half per cent. This amount
may be paid back in five years, or
| forty years as the borrower may de.
teFmine. 1t should be understood
! that a single farmer cannot borrow,
but that APPLICATIONS must be made
through National Farm Loan Asso-
citation composed of ten or more per-
sons who are owners or are about to
| become owners OF farm land. These
| associations have been organized al
| ready in all parts of the country. and
| il the progressive farmers of this sec
| ton OF the state whether the land
bank Is established in Macon or else
where, expect to avail themselves of
the fine opportunities for improving
| their farms, or owning farms, they
should at once get together and or
ganize Farm Loan Associations SO as
to be ready when the bank IS establ
ished in January to borrow what
money they need. This Is absolutely
necessary, and would indicate the ap.
prevail and endorsement of the agri-
cultural people of this section of the
step taken by the Wilson Administra.
| ton to enable the farmers of this
country to own their homes.
In Georgia about twenty-seven per
cent of the white farmers own out
right their homes. The balance are
either rented or mortgaged. South
Carolina is in the same unfortunate
condition, and Mississippi even lit
tie worse on Surely in these states
these associations should be rapidly
organized in every section of the farm
ing country that the tenent farmer
should come into possession of his
farm and establish home for his
family. Ii is safe prediction that
once this law is in operation-and it is
already an old form of governmental
help in Europe--that the entire coun-
try will wonder why so progressive
| long failed TO establish such an institu-
ton which will so vastly tend to up
build the farmer and the agricultural
! wealth of the c.mtry
|
The Generation of a Convict