The Bridgeport times and evening farmer. (Bridgeport, Conn.) 1918-1924, 1918-02-05
LOANS
SYSTEM A BOON
TO ALL FARMERS
Fairfield County Agricul-
turists May Get Aid From
Government.

to be congratulated on having in
their midst "a Federal Farm associa-
ton, whose secretary treasurer, Paul
Pierce, is in Hanover Springs, New
town.
Leonard G. Robinson, president of
the Federal Farm Land Bank, at
Springfield, Mass, has already accom-
plished splendid work in the propa-
ganda and information that has been
spread throughout New England.
Unfortunately, historic New Eng
land is known everywhere as the only
locality where the land does not feed
its own! Our ground is fertile, pro
ductive. We have abundant streams
and are within committing distance
Of thriving cities which offer nat
ural market for farm produce. Not
far from Newtown are Bridgeport,
Hartford, Stamford, Norwalk, Green
which,-the mighty New York is al
most at our door. Yet, we have the
largest percentage of abandoned
farms in America!
Fasteners traverse the country TAX
ing the expensive trip to the Pacific
slope, in order to buy Oregon farm
land at $500 an acre; shipping the
fruit back east, across the continent
at great expense. Yet, the New Eng
land Unconstitutional as they are
can produce a fruit of far better
flavor.
What is the matter with our farms,
or our farmers? Sometimes we think
it is the false social standards that
have come to regard farmers as
menials, so that their children are
ashamed to till the soil. The big
reason. undoubtedly, is the cramped
financial situation in which farmers
always have found themselves. No
class of business men has been so
unfairly treated. They are charged
an exorbitant rate, find it difficult to
borrow money; and usually have to
seek short time loans and live in a
species of terror under the burden
of heavy mortgages.
At least all this used to be the case,
until Uncle Sam stepped in and took
up the White Mans Burden, offering
to do the loaning himself.
Have you enough money to run
your farm profitably? Are you wor-
ried about the old mortgages? Is
your money secured on terms which
make it possible for you to build and
plan ahead?
If not, our local Federal Loan As
ISOLATION is needed by you, and by our
county. A steady flow of outside
money will make for prosperity. This
is the time for live, wide-awake ac-
ton in our community. The auto
mobile has spanned the distance be-
tween farm and city, Bringing our
markets to our very fields. This To-
cality offers land at remarkably low
rates, and the government is f1nanc-
ing the farmer.
If you do not believe it, take the
word Of the government itself, when
it tells you about killing off mort
cages.
''The farmer who can borrow
money and so use it that he will be in
easier circumstances on account of
the debt, ought to borrow it. If he
can borrow and make the money pro-
duce more for him than it costs him
to carry the debt, it is good business
for him to borrow,-provided that the
time of payment is far enough in ad-
vance that that he can be certain he
will never be cramped by the demands
of the lender The Federal Farm Loan
Act is a law, the intention of which
is to make it possible for the farmers
to make money by borrowing money.
Its intention is to place money within
reach of the farmer, on such terms as
to convert the farm mortgage into a
source of profit
No human creditor cares anything
about easing up the farmers burdens.
| or decreasing his debt; but the gov
amortization, which merely means
killing off mortgages. Our govern
| ment has vital interest in the farm
ers because they produce the real
wealth of the country In war times,
| especially, people at last understand
| that the farmer is the one important
producer, for food is life, and food
cannot be bought by any amount
| Of gold. until it is produced by hui
man labor. The government there
| fore, is attempting, by means OF
scientific schemes, quite as mathemat-
| ical as an insurance table, to help the
farmer and put him financially on his
feet. He cannot work efficiently if
he is bowed under a yoke of a hope
| less mortgage. The U. S. govern
ment has arranged a plan of killing
off his MORTGAGES. To amortize a
mortgage, is to put it to death.
The law provides that the borrow
er may take out his loan for as short
a time as five years. but for most
farmers this would be burdensome
and foolish. Very few farmers are
borrowing for as short time even as
ten years, because the farmer has the
privilege of paying. in whole or in
part, at any interest date, and it is an
advantage to him to have the mort
gage run for a long time. The Fed
eral Farm Loan Board is advising all
farmers to take out their mortgage
for a period of sc years, because ii
makes the amount required to kill
the debt only about 1 per cent. year
in addition to the interest rate.
How does it work as a matter OF
actual payment? This is perfectly
easy to understand. Suppose that you
Mr.. Farmer. desire to take out q
mortgage under this system. You
need $4,000 let us say. with which to
pay off an old mortgage; to buy 9
farm, to buy more land if you have
not enough: or to purchase equip
) ment, fertilizers. or live stock neces-
sary for the proper and reasonable
operation of the mortgaged farm; tc
put up buildings or for improvements
upon the land; to take care of debts
which have been accommodating. or te