Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-06-23
JOHNSON OUTLINES PLAN
FOR LOANS TO FARMERS
Up Pool to Garry on
Work.
WRITES PRESIDENT SPENCER
Details OF Council Of Defense's
Scheme Laid Before State Bank
ers' Association, Now in Session at
Old Point.

Special efforts strengthened by an
urgent appeal from President L. E.
Johnson. of the Norfolk and Western
Railway. will be made before the Vir-
Einia Bankers Association, now in ses-
sion at Old Point to secure pool OF
S25".ooo. made up by the banks OF the
STATE. from which deserving farmers
who need financial assistance may oh
tain loans without the necessity Of Civ
ing collateral.
MIR. Johnson himself was named by
the state Council of Defense. of which
he is Il member. to present the plan
to the bankers, but was commandments
INTO service as general chairman of
Red Cross Week in Roanoke. and will
he forced to present his views by proxy.
rms he viii do in Il letter to -. B.
Spencer. president of the association
The matter of making these loans
possible is deemed by the Council of
i'"fenss and Mr.. Johnson TO he of vital
appearances To the part Virginia farm
ers have been called upon to play in
the Increased production Of food COR
the war emergency. Mr.. johnson calls
upon the bankers. in his letter 70 the
eSsociaton'S president. to lay aside the
stand 50 often taken by them tina. they
are handling other peoples money. and
remember that other peoples money.
IN this case. will tie lent as much for
INC benefit of the deposi;ors ~ fo-
that ot those who negotiate tho loans.
JOHNSON OUTLINES
PLANS roR LOANS
The plan by whic. Nj Johnson
need financial help is. briefly. as COL
lows:
The County Councils of safety.
which are composed of TN" county Gem
"nStration agent, tie division sup"rin-
tcndcnt of schools. Il banker. u bust
Loo, CO.,
They are usually familiar With the
character of each farmer. uud would
he charged with the duty %" locating
deserving farmers needing financial as
SiSt'nc", OF irving approximate ~.
sources and liabilities OF Eating tie
mount of each loan. Of directing tho
'runty demonstration (" supervise or
govern the expenditure. or aDU' cation
- same and Of preparin: brief .u,-
I'ne giving location. dcs,rin,ion and
size Of farm. NalCc of luuI. buildings
and the amount Of live stock
These facts would be forwarded
7" the county Council Of Defense.
which would file il and mail a iupli-
'ate TO the proper officer of in.. State
Bankers Association
Mr.. .Johnson's letter to Mr. Spencer
is in fun. as follows
There is an unqucStiona neces-
SHY for assistance TO certain classes of
nishinS small sums OF money that they
cannot under ordinary banking methods
obtain or they are unfamiliar with The
methods Of obtaining money. and the
Council of Defense Of Virginia mas
taken this matter under adviScmcut
and have been especially charged
with presenting the matter to the
banhS OF this Sta;c--nationai and State
banks and trust companies
II beg TO ncloSe a copy Of "A letter
that Is addressed to all the bankers
Of tho state by the executive secretary
Of the Virginia Council of Defense
Colonel w Nj. Hunlcy. which was not
received with any d gree Of co-opera-
ton by large majority OF those adj
dressed. The general statement being
made in reply to this letter WAS mat
IN" banks are already ioaninc morry
/" farmers upon proper collateral anl
securities. We have fun Information
reach the class OF farmers wlirh We
are cnd.avoring to reach.
SUGGESTS RAISING
FUND or S.':o.unn
1T has been suggested that Il fund
NJ about 100000 bc raised by tn. b;,uHs
&" =" placed In the hands Of som" o.
sanitation 20 he hercafto. iuruy. ihat
viii L." empowered by methods TO Ice
adopted L. make loans. if found ncrcs-
S.sry. without collateral and ! can see
no good business reason why the banks
should not form this fund. which. Il
Is believed. Is so necessary to help the
farmers OF the State who are unable
1" otherwise secure money. and who
are entitled to receive this considera-
ZION upon the recommendation of the
county councils. These county coun-
ellis. who | am sure can get TO act,
would he all OF the guarantee neces-
Snry
l.,
ing and the necessity for all of us to
d" oui bit think we could lay aside
tn" stand SO often taken--that the
banks are handling their people
money. True they are. but other peo-
pie money III this case is as much
FOR the benefit of the depositors Of the
banks. in the broad sense. as for the
individual who obtains the loan.
AS a tentative outline of how this
matter can he handled. the following
covers my views in connection there
With:
Nearly every county in Virginia. in
response to directions from Governor
stuart. Is organizing Il county council
o! safety. The personnel OF this body
. Is TO include the county demonstrate. % n
agent. county superintendent Of school Is.
banker, business man. "A leading
farmer and others. These men should
and usually DO. know the existing con-
ditions throughout the county and are
able To reach the man who is hanGi-
capped on account OF insufficient funds
{ Any concessions accorded this class
through the instrumentality of this
council could. believe. largely be
/ based on character The county coun-
! ell Is supposed to appoint committees,
| including finance. labor. production.
/ conservation. publicity. ct" The labor
committee IL directed to make Il sum-
/ mary and report the results TO the
county council; the finance committee
/ Is instructed to render special service
i NYI' WI