Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1917-03-28
FARMLOAN ASSOCIATIONS
Federal Loan Bank of Columbia Issues Instructions
as to ORGANIZATION, General Management,
Officers, Charters, Etc.

J. K. Earle, Esq, Secretary-treasu-
rer Of the Oconee National Farm
Loan Association, Of Walhalla, has
received the following instructions
from the Federal Land Bank Of Co
lumbia
In beginning the work in cOnnec-
ton with the inauguration Of the
farm loan system in the Third Dis
trict it seems advisable to issue at
this time q circular of greeting to the
members Of the farm loan aSsocia-
iions which are to he affiliated with
this bank, to point out some Of the
things which are necessary that each
member of the system should do in
order to insure the degree OF ulti-
mate success which is absolutely es-
Sential, and to provide in a general
way some Of the information which
is being constantly asked for ut this
time by the associations.
In the first place, the farmer MEM
bers Of farm loan associations should
understand clearly that no degree of
without the intelligent cooperation
Of the farm loan association MEM
bers. One of the most essential
things. and the one thing which it is
necessary that members Of farm loan
associations should bear in mind con-
stantly, is that the very foundation
Of the entire system demands c0nser-
vatsm. The fact that a system has
been established to enable operating
farmers to secure money for the pur-
pose Of improving their methods and
increasing their yields should not be
taken to mean that there Is available
an unlimited supply Of money for
any and all purposes. Farmers who
are now applicants for loans should
confine their borrowing requirements
to minimum; avoid, If possible,
making application for the full so
per cent Of the valuation Of the
property; avoid. also, the very con-
siderable danger Of planning too
much at one time. Possible improve
ments to be made through the use OF
this system should be made gradu-
ally. If as a borrowing farmer you
have in mind a number Of changes
or improvements in your property.
make them one at n time. With the
money that will he available from
this bank complete a certain improve
ment on your property and demon
Il I
increase your earning capacity, and
then If desirable, undertake the next
1t is just as important that amy
money available from this bank shall
be intelligcntly and wisely invested
in your property as it is that proper
appraisemcnts shall be ma de in the
beginning. Money borrowed for
nnwiSc purposes or for making
changes or improvements which arc
not carefully thought out and which
will not justify themselves in the fu-
ure, thereby causing the borrowing
farmer to lose that which he has
borrowed, will bring about as dis
tinct financial loss to the borrower
HS II iHt IlOlcy 20 DOItO"cu naQ
been wantonly wasted. 1t Is we'll in
all cases to take counsel with neigh
hors and friends before undertaking
changes or improvements which will
involve financial loss If mistakes
have been made
Appraising committees must bear
in mind that they are charged with a
double duty: The first to their asso-
citation; the second to this bank.
They must understand distinctly that
they have to deal only with the value
OF land based on its earning capacity
-alnder present methods Of farming.
In other words appraising commit
tees should value land either as if
they were lending on it themselves
or as If they were placing value on
1t with purpose Of purchasing 1t for
themselves for farming purposes. If
appraising committees will give us as
the value Of piece OF land what
they as farmers would be willing to
pay for it as an addition to their own