Every evening, Wilmington daily commercial., 1922-11-20

Washington, Nov. 2O.-The impor-
tance OF information concerning in
yestments to the people who are put
ting UP the money is resulting in the
gradual compilation Of a series OF re-
ports on the soil and other conditions
OF American farms. One OF Benjamin
Franklin's wise sayings was: II you
would know the value CT money, go
out and try TO borrow some. DR..
Frankln's insight into this great eco
1omic fact was clear, as will ne learned
by any Investigator who inquiries con-
cernlng the patience with which
money lenders. whether individual,
corporate or governmental, study the
character of security offered.
This care to protect investments is
responsible for the studies now being
made which Will place in the hands
OF the Federal Farm Loan Board at
Washington the most detailed informa-
tion concerning the farm lands of this
( country which probably ever has been
made concerning any region in the
world.
Under the farm loan act farmers
may borrow money from Federal Land
Banks and from Joint Stock Land
/ Banks on the security of their farms.
| The law takes particular care to safe
! guard these loans. An elaborate or
! ganization is maintained by the dozen
Federal Land Banks and the score
OF Joint Stock Land Banks scattered
/ over the country to determine the
! precise character of the land offered
as security for desired loans. The
foundation of the Federal Farm Loan
System rests on some four thousand
| National Farm Loan Associations. I'm
der the law, these voluntary associa-
tions of farmers may obtain loans for
their members. all of whom must be
farmers, through this governmental
system.
When an application for a loan is
passed on by the Farm Loan Asso-
ciation 1t goes to the nearest Federal
Land Bank and that institution sends
out an appraiser who is selected from
persons residing ip the neighborhoot
from which the application for the
loan comes. He must be a man fanlil-
lar with land values. The farm Offered
as security is carefully examined t
determine its value and the informa
ton filed with the Federal Land Banl
and finally forwarded to the Farm
Loan Board at Washington.
The country is so vast that the eX
animation is gradual but it proceed
steadily. Applications for loans con
stantly are coming in and practical!
every county in the United States nov
has at least one CT these loans. Th;,
means that the Farm Loan organiza
tlon has a report on at least one farm
in every county in the country. Il
many counties reports are on file con
cerning almcst every farm.
Row Reports Are Made.
The reports shoW what kinds .
soils are found on the farm involves
They show whether the land is adapt
, able to grain. pasture, fruit growing
truck gardening or other agriculture
use. Frequently the expert appraise
viii be able to learn more about tn
land in the course 81 his INSPECTION
than the inexpert farmer who ha
lived there all his life. A farmer ma
think his land excellent for a numbe
of purposes and the appraiser wi
discover 1t has been overworked with
out fertilization and that its produc
[ tiveness is about at an end In sue
G a case, the loan approved will be loy
G On the other hand, the expert ma
Q find farm on which the farmer has
c relatively low opinion and on the 81
v curity of which he asks little. 1t ma
$ develop that tine farmer has bee
planting the wrong kind of crops |
suit the land and that II some othS
produce were put in, the same so
!, would bring reater yields. All thes
elements enter into the examinat tio