The Lexington intelligencer. [volume] (Lexington, Mo.) 1901-1949, 1916-11-03
A TRICK OF THE SELFISH MONEY SHARKS.

The big life insurance companies which are finding a profitable
market for their money among the farmers of Missouri at SIX to
Hshed in this State
They dare not come out in the open in opposition to it. but,
according to information received by this paper they have adopted
Scattered in every section of the State are men representing
ndu themselves as insurance agents, making a specially OF soliciting
ar table and literature, usually carried by an insurance agent They
are glib takers and put up the insurance argument in an eloquent
h ii They are satisfied to be permitted to ask how things are politically
and as a confidential; parting shot to express the hope that the
settle things and place all the burden Of taxation on landl
are Having planted this poison they joyously depart.
t Missouri farmer The farmer puts two and two together. and it
p I surance and then he remembers bat most Of the money the farmer
~ borows comes through these greaS companies.
NM re And then he understands the real Importance OF every farmer
Nml voting for COL Gardner for Governor, and the Land Bank con-
shtutonal amendment.
COS Because under the provisions Of the Land Bank Act the farmer
IT. can borrow for five or twenty-five years or any intermediate period.
Under the Gardner Land Bank plan, the payment Of 6H per cent
=" az covers interest OF "A per cent, all expenses and part OF the principal
tet To illustrate: Smith seeks to borrow s1O and wants rs years
ING In which to pay it off, principal interest and all charges Of every
Land Bank and the manager immediately figures up all the mathe-
GO NAUTICAL problems connected with it and same will show that the
d t borrower must pay $3.50 annually, that is, 6H per cent OF the orig
r Total total debt debt At the Jbe end Of the he loan on' period erp OF course. the Same prn-
m riple will apply for $1,000 or $4,000 as borrowed. 1t is a very
VI easy and simple plan and meets the unavoidable necessities of the
ar The merchant in the transaction of his daily business turns
81 over his capital many times and often borrows from Peter to pay
Paul If he has borrowed 500 or $1,000 from the bank on six
81 months time he can always meet it from the resources Of his bust
ARIA ness. But the farmer relies upon his crop returns and the crops
So may tan, once, twice three times ana even otener mere may De
nv a succession of bad seasons, of excessive rains, of droughts, Of over
Ss nows, o. POI weevns M o. o otner tmnes ma happen 10 me farms
ton All OF wncn OF course VIII make II Impossible lot MN 10 meet us
CO. note ana n mas not ue resources OF te mercham 10 IAN PACK upon
les Inc PrWClpie o amoIllatlon, ma Is, paying, inc PiWcPdl lodh
20 along with the interest and other charges, has been developed to
nm the highest degree in European countries, especially in Germany,
* Belgium and Ireland. 1t was found in those countries that the
NJ system Of small payments for a long term met the conditions and
70 requirements of the farmers and the system was put into effect
,s many years ago.
D Our system of three or FIVE year loans is a burden instead of a
na relief to the farmer. 1t simply brings him into great difficulty and
~ offers him up as a lamb to be sheared by the money shepherds, who
L~ are always looking for renewals at an extravagant rate of interest
Wv and at oppressive bonuses. 1t might be mentioned here that loans
to farmers in Germany and Sweden generally run 56H years, in
20 Switzerland 81 years, in Denmark 60 years and they run as high
and as long as 6SH years in Ireland and rs years in France
mo The plan and principle of amortization cultvates thrift in the
. mind of the farmer and gives him the opportunity to work out his
pc own salvation without excessive burdens and along lines of his
own choice and suited to his situation.