Emmons County record. [volume] (Williamsport, D.T. [i.e. N.D.]) 1884-current, 1918-08-22
DRAFT FOR THE DIS
TRIBUTION OF SPECIAL
FUND.TO AID FARMERS
IN DROUGHT STRICK-
EN- AREAS.

The money will be, advanced as a
loan in cases of necessity upon the
crop of wheat or substitute grains
planted. No loan will be made in ex-
cess Of 80 90 per acre, and no appli-
cant will be financed beyond one hum
dred acres. Therefore, no loan will
be made in excess of $500. Notes
given will bear per cent interest pay
abla in the southern districts October
LIST and in the northern districts
November LIST, 1919.
The Federal Land Banks Of the dis
tricts embracing areas will be desig-
mated as the financial agents of the
Government to make and collect the
loans. They will expect the cooper
alton of local banks in the taking of
applications, forms of which will be
supplied on request as soon as they
can be printed.
Banks and other local agencies as
sisting will be asked to contribute
their services for the good of their
several communities.
The determination of the question
of making each loan will, in the first
instance, rest with the Department of
Agriculture, which, through it's vari-
Gus agencies, assisted by Farm Loan
Associations and other local farmers
organizations will investigate each ap-
plication.
Applicants must agree to use seed
and methods approved by the Depart
ment of Agriculture, and the money
will not be advanced until the crop is
planted and a repres entative of that
department certifies to the Federal
Land Bank that the applicant has
completed his planting, in pr per man
ner and with proper seed. Upon the
receipt by the Federal Land Bank of
such certificate, applicant will be re-
i
I'D to give note and chattel mort
gage on the crop plnated.
In order to give applicants basis
for temporary credit, to assist in OBJ
tanning the seed, the Department of
Agriculture will promptly investigate
all applications, and as soon as an
proved the Federal Land Bank will
issue statement of approval to the
effect that the money will be advanced
when the crop is planted and tho nee
essary certificate and note and mort
gage are executed and delivered. The
machinery of the Treasury Depart
ment and the Department of Agricul-
ture for this work is already in ex-
istence and will be put in motion at
once, and no substantial delays will
result if the interested communities
DO their own part promptly.
Banks wishing to assist their COM
munities in this matter should at once
communicate with the proper Federal
Land Bank.
/ The plan is to assist only those who
have exhausted their resources. No
loan will be made to any farmer who
has unincumbered real or personal
property sufficient to secur loan
of $500. In such cases country banks
are urged, as matter of public SER
vice, to render assistance and avail
themselves of the facilities Of the Fed
eral Reserve Banks and the War
Finance Corporation which are pre-
pared TO render support to such eff
forts.
Each borrower will be required. 20
q part of his contract, to agree that,
if his yield is seven bushels per acre,
or more, he will pay into Guaranty
Fund a sum equal to Is per cent of
the amount loaned him to cover any
losses that may occur. If the amounts
so contributed exceed the actual loss
by the Government, the excess will be
returned pro rata to the contributors.