Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1918-01-09
Maine Farm Loans Act and
How To Secure Its Benefits

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The Maine Farm Lands Loan Com
mission, which went into operation on
Jan /, 1918, is composed of the follow.
ing members:
/ Governor Carl +. Miliken; John A.
Roberts, commissioner of agriculture;
Augustus Q. Thomas. State superin-
tendent of schools; Forrest H. Colby.
land agent and forest commissioner;
Roy L. Wardwell, State auditor, secre-
tary Of the commission
The act which created this commits
sion is chapter 303. Public Laws Of 1871
and entitled An Act to Establish the
Farm Lands Loan Commissioners Of
Maine and to Authorize the Investment
of Certain Moneys now on deposit in
the State Treasury known as<the Re-
served Land Fund"
Secretary Wardwell, in anticipation
IF the taking effect, on Jan. /, 1915, of
the act, some weeks ago began an in
( vestisation Of the administration and
effect of similar laws in other states.
He las prepared q statement concern
| ing the act and its purposes. from
which we present the following cX
tracts:
Aiit ltiiOSItN vi LIZ tlihSS - " NJ
the farmer in placing his affairs upon
a business basis. Tic land banks of
Europe and their methods. so ably adj
yocated for the United States by such
men as David I.ubin and Myron 4. Her
rick, The latter a former ambassa dor to
France, have been closely studied in
recent years by bankers as we'll as
other business men and the farmers are
tancn Of placing their affairs upon
modern business basis and SO take
earning out of the domain of what has
heeE described as q monotonous ad
venture with the seasons" end in
which all will admit that as a general
! proposition business methods have had
but little part.
Indeed even before the calamity Of
the world war, there We're unmistak
, able eigns that the production of food
stutfs was not keeping pace with con-
sumption and with the growth Of popu
! lation. And this was true even in the
! United States. From 1900 to 1910 our
population increased II per cent: in this
same period the number Of our farms
, increased only 10i:, Per can't. In 1909
the per capita production of cereals was
only 40 LILO bushels: in 1899 it had been
IS 4-10 bushels, decrease Of 9 bushels
per person in ter years. Likewise be-
tween those years the aggregate pro-
duction Of cereals increased only 40
per cent. but their market value was
higher by 20 $40 per cent.
The imports Of crude food -stuffs into
the United States increased from s6s,-
100000 in 1900 to slSo.oo0.0oo in 1912.
People arc becoming uneasy over the
increase Of prices and the standard of
living is. in many instances, being low
cred. These matters have caused the
national government. the various states
and many societies 20 undertake the
promotion of scientific farming in or
der that the production Of food -stufYs
may he raised to the maximum but
with the end in view that the soil, from
which these food-stuffs are produced,
may retain its vital qualities.
THAT the farmers Of this country are
sadly in need of n system of rur3l cred
it's there can be no doubt, They are
obliged to wait on tho seasons for their
crops to mature. be gathered, and find
tho market. This takes q series of
months extending from early spring to
late fall They c3nnOt speed the earth
upon its axis or hasten il upon its
course around the sun. If he has good
security for his paper the farmer may
POSSIBLY secure a loan at the bank but
this rarely happens. He cannot pay as
quickly as the merchant whose goods
are rapidly turned and for this reason
he is looked at askance by the aver
age bank cashier. The rule of the bank
is short time loans and quick payment
and this the farmer cannot do as can
he merchant. The rural credits Sys-
tenn. when properly administered meets
all these conditions, but it has never
been extensively tried in this country.
Several of the states have attachen
the problem, Of loans to farmers. We
have been in correspondence with the
following states and officers as to their
methods and results. Then follows alb
stracts Of those statements.
Story of Names Trust Funds
A brief history of the origin of our
trust funds in this State seems to be
necessary here.
In Maine the law provides that in
each township sold there shall be re
tanned public lot of 1000 acres, the
TUE 10 lnP SOL OF WHICH SDall TeIIld III
in the State, as trustee This lot may
be leased, but not sold. When the
township IS organized as a plantation,
Ihe lease expires and the public lot
comes under the control Of the land
agent. The proceeds of the sale e the
lease hold as we'll as all accretions to
the fund by the land agent who has
the right to sell stumpage, are added to
the fund in the State treasury and be-
come q fund on which. after organila
ton. interest at four per cent is paid
for the support Of schools therein.
When town is Incorporated the
principal fund IS pad over 10 such
town This fund, called the Reserved
Land Fund now amounts to S4I4, $50 33.
Its true standing was long III doubt. on
account cf crude and Inaccurate book
keeping q legacy from tho period of -
to 81 wears ago. when this fund was
started. Under resolve of 1913 this
fund was subjected to al exhaustive
Investigation by the auditors and
treasurers offices. with the result that
the accounts were entirely rewritten.
q report was submitted TO the Legis-
Iature Of 1915 and some obscure ana
doubtful entries gifted by that body.
However, this fund w3s q mere book
liz ability. The State had collected this