The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1917-12-14
Great Factors Is Assertion of
Herbert Quick
MONEY IN THAT ACTIVITY
Seven Hundred Million Dollars
Of Polio holders Cash Is
Now Used
ASSOCIATED Press Dispatch.l

liASSoCldleu fTeSS blSpdtCn.l
From Thursdays Daily.
New York, December 6.-Declaring
that the life insurance companies
have become the largest distinguish
able factor in the farm loan business,
Herbert Quick Of the Federal Farm
Loan board, before the eleventh an
ual convention of the Association OF
Life Insurance Presidents here today
urgd the national need for the ap-
p~ortionment of still more of their
funds for the financing of agricultural
production. At present, he said,
about $1,000, 000,0 900 Of policyholders'
reserves are employed in this activi-
ty. mo greater problem ever con-
fronted the American people than the
necessity of increasing production
and the maintenance of permanent
soil fertility" said Mr.. Quick. For
the economic pinch is now upon us.
1t has come upon US almost with
the suddenness of a thunderbolt.
Reached The Danger Point.
Just at the time when the popula-
ton of the United States has reach
ed the point Of absorbing almost to
the danger point our agricultural
products, there is thrown upon us by
the terrors of an unparalleled wal the
task of not only supplying ourselves
but for caring as best we may for
the wants of an equal number of peo-
pie who are fighting our battles on
the sanguinary fields of Europe and
Asia. Just when production in the
other agricultural countries of the
world has been reduced to it's lowest
ebb, just when the transportation
system of the world has been re-
Questioned for the transport and sup
ply of armies and is put daily in jeo-
pardy by the barbarous methods of a
powerful and INSCRIPTIONS enemy,
the farms of the United States are
called upon to increase their produc-
ton with a decreased labor supply.
Hundreds of thousands, nay mil
lions Of men, are withdrawn from
peaceful pursuits and enlisted not
only in the army itself, but in that
marvellous complex of industrial and
transportation activities which con-
stitute the enginery of war. The
farms, shorthanded, are called upon
for double duty. After the war mil
lions of men will be returned to the
pursuits of pecae at a time of radical
industrial and financial readjust-
ments. The world will then have
to be reconstructed and the healing
of the wounds of civilization must be
very largely brought about through
progressive land and agricultural
policy. "The world calls upon US for
a new and better agriculture now.
-- 49, A. z4,.-. ILL l.
mand the most enlightened, far
sighted and broad-minded statesman
ship.
Requirements of Agriculture.
"The requirement of agriculture
after the war will be only partially
financial problems. They will be
predominantly land problems. The
bringing of unused land into use; the
bringing of partially used lands into
full and complete use; the abolition
of ou- terrible system Of la%ndlordism;
the reconstruction of rural life; the
building up of a new kind of rural
school; the conversion Of the bust
ness of farming into one in which a
man of intellect and enterprise may
be proud to labor with his own
hands; the solution of our marketing
questions; the building up of a vast
system of cooperative enterprises
among farmers by means of which
they shall be able to solve their pro-
blems.
There are financial problems of
the greatest magnitude which ought
to be carefully studied to the end
that vigorous and ~far-reaching mea-
sures may be adopted in order to
meet the needs of American agricul-
ture after the war. The fact may
be noted here that the life insurance
companies of the United States
commanding as they do the largest
volume of loana lie funds in existence
have loaned on real estate about
one-third of their funds. l am ad-
vised that 40 per cent of those rea
estate loans are On farm property
In amount, these farm mortgage
loans of the life insurance companies
total about $500, 00O, 900. The insur-
ance companies have thus recently
become the largest distinguishable
factor in the farm loan business. In
entering this field, the insurance
companies have been true of the in
terests of their policyholders. l ali
of the opinion that more and pore
nom of the life insurance compan'
les ought to be loaned to the farm
ers in the interests of the companiei
themselves, of their policyholder:
and of the nation.
The war is slowing down municipal
improvements throughout the coun'
try, declared Mayor John MacVicar
of Des Moines, Iowa, before thu
eleventh annual convention. He urge
that life insurance companies Civ
special consideration to the financia
needs of American cities when peac'
comes.
"The entry of the United States in
TO the war has had a marked effec
upon our Cities" said Mayor Ma
vicar. 'Our. national. government
through its responsible heads, is con
stantly sounding warnings to stop un
necessary improvements. Municipa
projects under contract and unde
way will be completed at least to
point where they car economically b.
discontinued, and only such publit
works as are of immediate and press
ing necessity will be undertaken.
Without a doubt there will newt
ably be an increase in the deman
for funds by American municipalities