Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1916-10-24

-IASHINGTON D. c. oct 14.-One of the busiest
Wv places in the United States is the headquarters
w of the new federal farm loan board AS soon
work of organization be completed the pro-
visions recently enacted farm loan act will be-
come operative millions of dollars will be distrib-
uted by the government There is naturally great in
terest in such important matter securing long
time a cheaper rate than that which has pre-
vailed heretofore.
over hundred thousand inquiries have already been
received asking for full information and instructions
about securing these loans. While the will be
loaned land there almost inquiries from
city people from farmers. This is explained by the
people who live in the city want to get
back the SOIL and all who now own farm mortgages
how the law will affect their interests
The members of the board have just returned from
five-weeks' Of the country Twenty-Five hearings
were twentysix states to ascertain where the
twelve federal land banks may advantageousy
located members the board heard the opinions
of farmers, bankers and other business
men, this way they gathered data which could not
otherwise obtained. concerning the condition
credit in the United States and brought away
the conviction loan act is to have great
permanent place in the agricultural and financial
life of the country
Mr.. Herbert Quick, the well-known author and stu
dent agricultural problems, who is member of the
board, summarizes the and prospects
of the rural credit measure as follows
THE federal farm is going work. and
work large scale, because it viii enable any
farmer anywhere the United States at time to
all the money his security will justify
BY borrowing a COST borrowing money which is
not loaned the profit of but the borrower
THE act means that money can be borrowed
on terms fixed by and for his benefit in
stead option and for the profit of the lender
said Quick 'It is to the farmers, and there
is evidence they going to neglect their OPP
portunities In Oklahoma, Texas, and other
Loan associations have already been tenta
lively organized will millions of dollars
as soon as is in operation. estimate that
thousand National Farm Loan associations already
formed in Farmers in this country
clIstomed to cooperation Oranges Farmers unions,
farm bureaus cooperative marketing associations
are all agencies which be in forming farm loan
associations and many them preparing to do
THE attitude of the bankers toward the farm loan
act equally encouraging. Mr.. p W. Goebe of Kansas
CITY president the American Bankers association,
told us at Kansas City the greatest possible devel
opment of this federal bank will provide
enough of its bonds to the demand for them He
said that these will be the first ideal investment
the American people possessed-that they will
constitute investment such safe basis that the
chances for will be nil Denver banker presented
the other side case by saying that the demand
for money part of the farmers will be equal to
the greatest possible supply These statements reflect
the concensus good business opinion everywhere
Thinking business recognize in this measure new
and field for investors and great stimulus to
agricultural development.
Mr. Quick contrased the present condition Of rural
credit in this country with the facilities that will be
offered by the new system.
Suppose that today wants to borrow