Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-09-22
DRIVE TO HAVE FARMERS
OWN LAND IS UNDER WAY
Federal Farm Loan Board Organizes
Campaign to Maintain Produc-
ton OF FoodStufTs.
PLAN REASONABLY SIMPLE
Government and Private Investors
Will Aid 11andlcss Farmer in Buy
ing Property by Lending Him
Money on Second Mortgages.
Especial to Tho Times-Dispa,ch

II.
WASHINGTON. Sept. 21-The Fed
cral Farm Loan Board has organized a
nationwide campaign 70 convert ;he
andless farmer in this country to a
landowner and 20 make what has be-
come known as the tenant farmer an
indie pendent producer
IL this drive succeeds. az members
OF tho board hope. II Will go far toward
solving the problem OF keeping the
experienced farmer boys at home. and
the further problem OF maintaining
that vast productions OF eoodstuffs
which IS necessary II the high cost OF
ilvlEs IL to be reduced
IL IS agreed by ali students OF pres-
ent day economies that the outpui OF
American farms must increase i: this
country II To continue In the business
Of feeding a large part of the world
while at the same time raising cuou,,h
crops TO ration Itself. II This produc-
Living VIII become higher or the u,.r-
hets OF THIS country must be coseu to
the foreign buyer
Bonrd UNDERTAKINGS Problems
The Farm Loan Board fully under
sta nus TINS and understands further
that the best means OF increasing the
production of food products is 10 keep
the farmers on the farms. This may
De brought about effectively b. max
ing more practical agrlcu!turists land
owners instead of land renters: BY Civ
ing interest in the bus anG D.
making him proprietor instead OF d
hlrec man.
To this end the Farm Loan Board is
putting into effect with all energy II
has It's policy Of promoting sales or
property TO tenant farmers and 10 9TH
crs who are without sufficient ca pital
20 buy land outright or TO take dvan-
taGe. unaieed. of the LIBERIA terms of
the Farm Loan act
The plan Q. the board to this end is
reasonably simple. Tha; body is seek
ing in every farm loan district to in
upon land that Nigh, be sold 10 tenant
farmers by means Of loans, secured by
hrst mortgage. which the govern
der 10 make such private Investments
attractive. the nature OF the first mort
ages held by the government must be
carefully explained.
Investor. Want to Help
With the government and the private
investor thus engaged in financing
the !andless farmer, i; is easy for any
whch he ma an have b oa n vnR oP oy
years but which he was never able 10
acquire II has been found by the Farm
been shown how safe IL Is TO loan
money on second mortgages. that they
nave not only been willing but eager
IN many instances 10 go 20 the assist.
ance of the small tenant farmers of
A. T.. Lever. former chairman OF the
Agricultural Committee OF the House
and now member OF the t,arm Loan
Board. has given to The Times Dis
patch 4 series % four reasons why in
vns;ors should cooperate With the
government by accepting second mort
cages upon land after the government
has taken the first mortgae. as re-
quired by the Farm Loan act.
These reasons are:
/. The appraiscment of the land IS
made BY government official. which
Is A guarantee of its fair appraisal.
.. The title Of the land in question
is passed upon by another Federal Of
ciaI. which guarantees that title to be
good
Repayment Terms Easy.
s. The terms OF repayment Of the
hrst mortgage are SO liberal mat the
can never be any danger. unless in the
most exceptional cases. OF foreclosure
of the first mortgage.
l. The very worst that could happen
TO the taker OF a second mortgage un-
der the system would be the sorecl99-
eral Loan Bank. which would !eave Inc
second mortgage 10 stand IN place o.
the first. thereby giving the holoer tne
which GO with the first mortgage un-
der the Farm Loan act.
Mr.. Lever adds that the board is now
undertaking to ascertain the numocr
through the Federal system. Cor the
month OF October. 3he amount they VII
borrow and. as far as POSSIBLE. asce! \
tain the average rate oil interest," ahu
with a view of encouraging the use o,
the government system in the interest
OF land ownership.
Practical results have peen achieNed
.,ready in this direction. For exam
nj II is reported to Washington that IN
nar.a;p counties in TeyaS 10 per cent
Of all the loans made by me am
Loan Bank were mace 20 tehA'ie