Pullman herald. [volume] (Pullman, W.T. [Wash.]) 1888-1989, 1919-08-29
A PLAN WHICH MAY
REDUCE TENANCY
CONTINUED from page SKI

(Con'ihued from page SKI
POND applying the interest on the
tcnds, as it cones due, to other
bonds, will in ten years ave money
enough to make so per cent paw
ment on a good fern Of his own or
her own. Federal farm loan bonds
should De made tie foundation
stones Of saving, We should like to
see federal farm loan bond
household word, representing the
thing to be bought whenever posi-
bic, by people who are accumulating
money for any purpose.
DO not let go Of your Liberty
bonds. Whenever you set hold Of a
good bond, keep it, Drive from your
door every person, no meter how
good a friend, Who tries to wheedle
you out Of your Liberty bonds by
trading you any other hiud of secur-
ity for it. Buy more bonds, and
when you do this you will find no
bond more attractive than federal
farm loan bonds For the man who
does not work his farm these bonds
are better property than the farm
better for the man and better Tor
the farm.
Tenancy II National Evil
If you are interested in the fed
eral farm loan system, in the reduc-
ton of land tenancy, in the prosper
ity of your association, look about
you for customers for federal farm
lean bonds, and write to your fed
eral land bank for the bonds and
information about them.
The whole country is injured by
the vast number of farms which are
passing into the hands of tenants.
Have you done any figuring on plans
by which these farms may be sold
to the benefit of your neighborhood,
of your association, and of the land
itself? Tenants who have plenty of
equipment and can find an owner
willing to sell, may often work
themselves into an ownership of
farm in this manner: Let the owner
sell the tenant the farm, taking as
payment whatever cash the tenant
can raise; let the tenant then make
federal farm loan mortgage for as
much as the bank is willing to loan
so per cent of the appraised value
OF the land; let him pay this money
over to the owner of the land, who
can then invest it in federal farm
lean bonds and get an income from
| If of four and one-half per cent per
annum, free Of all taxation; let the
owner then take second mortgage
for the unpaid balance, giving the
tenant plenty of time to work out
ri the deal. The tenant having 30
wears on his first mortgage at a rea-
sonable rate of interest, Will be able
IN handle both it and the second
mortgage II the selling price Is fair
Sc far as the first mortgage is con-
cerned the former landowner need
not be uneasy about that, because
under the amortization plan OF the
federal farm loan system 1t grows
smaller wear by year; and If misfor-
tune should come upon the purchaser
NJ the land the former owner OF the
land may then choose between TWO
courses: He may take the land UNI
der his second mortgage and assume
the first mortgage, or he may sell
his federal farm loan bonds, pay OH
the first mortgage, and have the
farm clear again. The whole trans
action is perfectly safe, and with
good management the tenant gradu-
Tallv works himself into the position
Of an independent farmer who owns
his farm.
The farming population OF 'he
limited States, counting in owners Oh
land who might profitably sell, might
absorb with benefit to itself every
form loan bond issued by the II fed
eral land banks in the United States
and if this subject be taken up anu
discussed and worked out consistent
|, this condition of affairs may even
tua1lv be brought about.-The BOT
rowers Bulletin.