Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1916-05-23
BANKERS SHOULD
ASSIST FARMERS
DEAN CURTIss OF AMES THINKS
RELATIONSHIP COULD BE
HELPFUL.

Ames, May 20.-"Iowa bankers and
Iowa farmers should come more close
" together in mutually helpful re-
lationship.' said Dean Charles y.
Curtiss Of Iowa State college, in an
address to the district bankers in con-
vention in Ames. He declared that 1t
would mean a larger banking business,
because 1t would increase the success
and prosperity Of the farmer and that
1t would, in addition, mean more
highly prosperous state. Particularly
did Dean Curtiss urge the cooperation
factory system of rural credits through
which the farmer might secure long
time loans at low rates of interest.
There are 1900 banks in Iowa
which places Iowa third in the ranks
of states from the standpoint of bank
deposits" said Dean Curtiss, In en-
phasizing the importance of close re-
lationship between the farmer and the
banker.
There are, in round number. 215,-
600 farms in Iowa producing one bill
lion dollars worth of farm products
annually. Practically all OF the pro-
ceeds of this billion dollars worth Of
farm produce goes Immediately into
the banks, and It ID needless to say
that considerable Of Il stays there. 1t
is natural and proper that it should, az
the banks help to finance the farming
operations. The relationship between
the bankers and the farmers may be
increased to the advantage of both
parties. The most successful bankers
have ever known, in both large and
small banks. have almost invariably
been men who have kept in closest
touch with farming operations. In
deed, some of them have themselves
as large or larger interests in farm
ing operations need the resources of
a good bank to insure their success.
This sis sometimes true of other farms
as well as bankers farms. At any
rate, the Iowa farms need the help
and cooperation Of the Iowa banks,
and most Of the Iowa banks would go
out Of existence If it were not for the
resources of the Iowa farms.
1.-THE farmers have greater need of
the bankers help and support today
than ever before. In township sur.
veyed in eastern Iowa, the seventy
farms in that township represented,
with the land, stock and equipment, an
average investment of over $4,000
each. The farmers OF Iowa are spend.
Ing $40,00O,000 annually for farm build.
ings and Improvements. They are
spending about $3OO00,000 annually
for farm machinery, and $4,000, 900
for farm drainage. The largest and
best equipped farms in nearly every
community represent a larger capital
investment than the leading banks.
"Some vital changes must necessar-
lily come about in farm financing. In.
stead of short loans at high rates,
there will be more long time loans at
lower rates on the amortization plan
Of liquidating of the Indebtedness.
This may be called farm financing or a
rural credit system but 1t will increase
the efficiency and resources OF the
farms, and both the farmer and the
banker will profit thereby. believe
that the local banks can and will
solve the local credit problem in Iowa.
Iowa farm securities are good enough
to command long loans at low rates.
This system will secure longer tenure
and better farmer on every farm, In
general; and this will insure greater
output Of products and greater re-
sources from the farms of Iowa, and
consequently more money in the banks
Of Iowa."