The Bourbon news. [volume] (Paris, Ky.) 1895-19??, 1918-11-29
MIR. WATERMAN TO ADDRESS
FARMERS ON FEDERAL
LAND BANK.

Mr.. Myron A Waterman. specia
representative of the Federal Farm
Loan Bureau of Washington, D. C..
Will address the farmers of Bourbon
county at the court house in this city
tomorrow Saturday afternoon, al
two o'clock, in the interest of the
proposition. In talk with THE
NEWS recently Mr.. Waterman said
There is nothing more important
to the farmer than the utilization OF
his credit to increase his earning
power by the application of intensi-
fied methods of farming, pedigrsed
stock and grain. The Federal Land
Bank of Louisville provides means
whereby he can do so. Heretofore
generally speaking, his credit has
been of such character that the
more he used it, the worse he was off,
and in consequence of which farm
mortgages have piled up and tenant
farmers have increased to an alarm
ing degree. E&<
Il found over 80 per cent. of ten
ant farmers in Alabama and 80 Ter
cent. in Texas. There are more ten
0AAS AeSA hASA III VIC tWOltC
States than land owners, and in Ger
tain sections of Northern Illinois
found 30 per cent, As per cent. and
as high as 80 per cent. wisconsin
has approximately 20 per cent. and
Kentucky "a per cent.
1.-THE Federal Land Bank provides
a way whereby the landless man can
get onto the land. The salvation Of
our country is in making the tenant
farmer and hundreds of thousands of
struggling toilers, who are eking out
miserable existence in our great
congested commercial centers, land
owners, and thus make them out
only self-sustaining happy, contented
and prosperous, but producers of the
necessities of life, which are so need
ed by millions of people throughout
the world.
'It is especially important at this
time that food products be increased
to the maximum in order that the
peoples of the world might not face
a food famine and anything that
tends toward this end is not only Of
immediate benefit to the communities
themselves, but is likewise wonder
full service to the world at large.
Imagine what prosperous cities we
would have If there was a family on
every forty and eighty acres within
Duh trade territory All these people
would need groceries, dry goods,
boots and shoes, clothing, the. doctor,
and probably the lawyer. The news
papers would have more subscribers,
the banks more depositors and the
taxable wealth would be 80 incBessed
that schools and community build
ings would abound and the good
roads problem would be a thing of
the past. The Federal Land Bank
makes all this possible and in time it
will come about, but we can hasten it
if the interest in our villages and cit
les would extend a more helpful hand
and cooperate more generally and
closely with those who till the soil.
Nations are great and powerful when
agriculture fourishes and when it de-
Gays, nations fall.
1.-THE farmers can borrow so per
cent of the value of their farms to
the extent of from 500 toS10,000,
for from five to forty years time. at
5k per cent. interest, semf-annual
which are amortized. Bor-
rowers, under the old plan, owe the
principal when the obligation falls
due, but by borrowing from the Fed
eral Loan. Bank, by small semi-an-
nual payments, the borrower liqui-
dates his entire indebtedness and in
34h years, he owes absolutely moth
ing. Then. too, the borrower has the
privilege of paying any or. all Of bis
off after hve years. Thus
it will be seen that this Federal insti-
tuition has not only provided means
for the farmer borrower to secure the
money he needs to carry on his bus
mess, but means by which he can gay
it back without taking any chances
on renewals, paying commissions or
possibly a higher rate of interest"