Mountain Home Republican. [volume] (Mountain Home, Idaho) 1915-1946, 1916-01-29
nm sT,'ss11 vi

credit given him. In short he is a
sort of field man for the association
J When the amount of credit is
agreed upon the farmer executes a
crop mortgage which bears seven
per cent interest per annum, and is
given credit certificate which is
used in making purchases from any
OF the member merchants. The Ger.
tificate is signed by the trustee and
Is in fact a letter OF credit which
sets forth the amount and conditions
OF the credit given. Blank drafts
are also issued, reading ION or be-
fore Novem ber lst," and drawn on
the trustee of the association. When
the farmer makes a purchase one of
these drafts is filled out for the
amount and given in exchange for the
goods, the seller making an endorse
ment of the amount on the credit
certificate. When drafts have been
drawn for the full amount of the
credit certificate the last seller takes
up and delivers 1t to the trustee. As
the drafts are issued the merchants
pres mt them to the trustee for registra
ton thus keeping the trustee informed
OF the credit issued and OF the bal.
ance due the farmer.
Now, some reader will say the
merchant has looked after himself
pretty we'll and he can see no par
ticular benefit in the plan for the
farmer, but do not be so hasty. In
the first place you will be surprised
at the increase in the credit the
farmer is able to obtain. Men have
applied to the Weiser Credit ABso-
citation for let US say $3.50 credit.
and before might of the same day
the trustee has found they already
owed the merchants about that
amount. This meant their credit
was gone. and they were at the end
of their string. but after the trus-
tee had looked after their affairs he
found that they were honest, thrifty
and willing and he recommended that
they be extended 5000 credit and
they issue drafts to clean up their
| back indebte edness. This counts
which were worrying them, and the
merchants knowing a payday was
fixed and the trustee was looking
after their interests, did not hesitate
to extend double the credit they had
already granted.
One farmer in the vicinity of
Weiser applied for $4,000 cr,d.t, but
1t was found that he owei more
than $1,000. He was given S4500
credit instead of the $4,000 he asked
for and instead of having a dozen
creditors on his heels all summer
he was enabled to shift the respon-
sibhlity to the credit association, and
go about his work as he had done
for years. 1t made a new creature
OF him. and on November 1st he
wiped out al of the original $4,000
OF debts and to within $500 of the
additional $4,000 which had been grant
ed him.
A poor fellow on homestead came
to the trustee and said all he had
was his team, wagon, farming imple-
ments and a willing pair of hands;
that ID he put up his crop and re-
manned with the farm he must have
something for his family to live on.
He had no credit among the mar-
chants as his team was already
mortgaged. His case was investigated
and he was extended the necessary
credit with the result that he not
only paid the association, but he paid
off the mortgage on his team and hadl
enough left this fall to build an addi- |
tion to his home and make his family
comfortable for the winter Before do
ing this he asked if he built the
house and needed credit to carry him
through next season If 1t would be
granted and he was assured 1t would |
and that gladly. The day he settled
UP he informed the trustee that the
association had not only saved him
his crop, but that 1t had enabled
to walk into store with his book |
of drafts and pay his way the same
as though he had an account in the
bank, and that he felt Like man in
stead OF a beggar.
Another point which should not
be over looked Is that the farmer |
Is not obliged to single merchant
and forced to buy Of him because he
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