Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-11-20
The HQskm Letter
DATA ON A r ALUES

/. Washington, p. c., Nov. 17.-The
Importance of information concerning
investments to the people who are put
tlng 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
lrankhn's wise sayings was: IF you
would know the value of money, go out
and try to borrow some" DIR. Frank
Inns insight into the great economic
fact was clear, as will be learned by
any investigator who inquiries concern
ing 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 Wash
lngton the most detailed information
concerning the farm lands of this coun-
try 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 safeguard
these loans. An elaborate organization
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 associ-
atoms. Under the law, these voluntary
association Of farmers may obtain
lnun ne for +haip TY,n,,Ia,- Ill Sc -rL-~~
must be farmers, through this govern
mental system.
When an application for a loan is
passed on by the Farm Loan associa-
ton, it goes to the nearest federal
land bank and that institution sends
out an appraiser who is selected from
persons residing in the neighborhood
from which the application for the loan
comes. He must be q man familiar
with land values. The farm offered as
security is carefully examined to deter
mine its value and the information
filed with the federal land bank and
finally forwarded to the farm loan
board at Washington.
The country is so vast that the exam
nation Is gradual, but it proceeds
steadily. Applications for loans con-
stantly are coming in and practically
Etfl J NbhhiJ la lIC ShitSn k'IdltS INV
has at least one of these loans This
means that the farm loan organization
has a report on at least one farm in
every county in the country. In many
counties reports are on file concerning
almost every farm.
How Reports Are Made
The reports show what kinds OF soils
are found on the farm involved. They
show whether the land is adaptable to
grain, pasture, fruit growing, truck
gardening or other agricultural use.
Frequently the expert appraiser will
be able to learn more about the land
IN the course of his inspection thar
The ~inexpert farmer who has lived there
i his life. 4 farmer may think his
land is excellent for a number Of pur-
oses and the appraiser will discover
it has been orerworked without fertili-
cation and that it's productiyeness is
about at an end. In such a case, the
loan approved will be low. On the
other hand, the expert may find a farm
If which the farmer has a relatively
low opinion and on the security Of
! which he asks little. 1t may develop
that the farmer has been planting the
| wrong kind Of crops to suit the land
nd that if some other produce were
| put in, the same soil would bring
| greater Yields. All these elements
enter into the examination and bring
INTO the files OF the federal farm loan
system n wealth of information which
ultimately will cover most of the oun
try. if not every farm.
When that is accomplished, it will
be possible, by consulting these rec