The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1917-10-15
AWAIT farmers
BOND PURCHASE
Holland Says Extent Of
Rural Investment May
Be Large.

which will tell OF the resulls
campaign which has Just begun IN 10
great AGRICULTURAL regions or az
country for the purpose OF senrns ~.
erty bonds to the farmers. IN "a
80 ~ is POSSIBLE for the various
Committees that have been organiIeo
az selling agents for the government
bonds Quickly to reach individuais.
But In the Far West many OF tne
farmers live in isolation. thier farms
are remote from the commercial CEN
tiers. Long rides over the prairies are
frequently necessary IN order 10 reaen
one farrner Nevertheless, organlza
lions have been perfected with intent
to reach every farmer in the Nor.n-
west. John II. Rich, the Federal re
serve agent at Minneapolis, this morn
ing sent word to friends in this city
telling Of a larger and much mofe
eornnlete orxnnization now pertectse
than n was possible TO build up wnsh
the first liberty loan was oiterea "
the American people. FurtnSrino
the business men, bankers As
of industry in the Northwest
now the great advantage Nnich We" =,
made possible by their ehpeflene 49,.
10 nrrsuads the farmer to buy noerty
bonds. The territory Of the MIMI
FEDERAL reserve district Is very grees
ana is chiefly agricultural For tnae
rsasor a was found necessary TO worh
out the problem of how best To reacn
~. farmers The answer 10 thaI
nrohler,- which is accepted a. gooo, 10
th.t tbere IN no way Of reaching tne
FARMERS excepting for the various ser,
Jn~ agents or committeeman 10 csn
inSiyidually upon every farmer OF inc
Northwest at his home
orx.niration to Reach Farmer
7, v,.u of the highly successiul
rnethod of organizing the farne mas
noliticai association Wn 80
.sonted by those who uhoelloy ,,,,on
YEAR, ago TO carry the ststs ~ ~
in North Dakota. II snoutu ~ ons OF
very difficult to reach ever ,',,T,,ar
IN. farmers who. during the iotsly
go harvesting them. The esu-
-. q mai the farmers of the Norln.
.t viu receive for their harSes
xnsre between s6Oo.Ooo,Vo an
a. 20 80 no. II is believed tnat lh1
csmnaIzn of education anu opp
sstas 1as made in May and June last
-. n.sn Of great service, Tor II IN
1ass IN. farmers exactly what an
i.e a, sone part of their
sn..- IN a government bond means
class the farmers were not
custoned till last spring to make III
yestnent in bonds. $500. hi.
Mr. Rich furthermore lnrorns LIS
friends in the city that the new roan
bearing 4 per cent interest VIII MAJ ~.
a very strone appeal to all Glasses -
the Northwest and especially 70 lno
farmers who are now oesinnlns ~ al,
derstand. first. that the security - e. 81,
edged, second, that it can be Instantly
CONCERTED into cash should the holoer
~ the bond desire to sell II and prop
ablv al several points above par ana
IN the next place II furnishes the pest
kind of. collateral security for loan.
TIVE allotment for the Minneapolis
Federal Reserve district is SlOo.Ooo'oo'
hut the bankers and others who nave
korranized selling committees, now De-
eve that they can sell bonds Of the
xzregate value of s175.0OO,OW. Inc ap-
Aoctionment was made upon the gen
eraI basis Of the banking resources OF
that great district and the investing
ability of its people.
Returns VIII Come In Slowly.
But very likely on account OF the
great area to be covered and the
necessity for making Individual ap-
meals to every farmer at his home.
the complete result Of this selhng
campaign may not be known until the
LAST week when subscriptions can be
received. What Is true of the North
vest "a also reported to be true Of the
Middle West and Far West and Of the
southwest to a much greater extent
than was the case when the nrst
liberty loan was marketed only
few years ago it would have been i'm
possible to make a successful appeal
to the farmers to buy even as high
grade a security as government
bond. As a class the farmers were
at that time prosperous enough to do
better than to earn a living and per-
haps a little more. But within the
past three or four years the farmers
have been more prosperous than any
other class engaged in industry. The
estimate Is made that the farmers
profits that are based upon the pres
emit market values Of food commodi-
ties have been in the aggregate much
, greater than have been the great
profits obtained by the industries oc-
cupied in manufacturing munitions
and equipment of war. Moreover.
ythese gains nave been very widely dis
tiributed averaging well all over the
country and perhaps there Is no in
dustry better provided with means
whereby subscriptions to the liberty
loan can be made than the agricul-
tural industry of the United States.
Thomas W. Lamont, who has no su-
perior as a judge of values small and
great and who has been for some
years a profound student of our in
duStrial, financial and agricultural
conditions. was quoted recently as
having said that he estimated the ag-
gregate wealth of the people of the
United States at So. 0OO. COZ, 600. That
il a little larger estimate than the
one commonly accepted as correct.
Mr.. LaElont also estimates the an
nual income OF the American people
at about $4,000 600, 900; but there are
GOOD reasons for surmising. that the
wealth which. is represented by the
agricultural industry throughout the
United States has so greatly increased
within few years. as 10 make il safe
to estimate that the aggregate wealth
OF the people is considerably in excess
OF So. 000. 10000. and the annual in
come much in excess Of $50. 900, 100000.