Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-11-20
Washington, d. C., Nov. 17,-rhe

| ~ 6ko1ly - ~ " T
Importance Of information c~opserning
Investments to the people who ARE
putting UP the money Is resulting ar
the gradual compilation of a sei les
Of repoa,ts ON the soil and other con-
dltions OF Americana farms. One OF
Benjamin ,Franklin's wise sayings was:
IF you would know the value of
money go out and try to- borrow
aome.' Dr. Fanklin's insight into
this great economic fact was clear. as
win be learned by any investigator
who inquiries concerning he patience
with which money lenders, whether
individual, corporate or governmental,
study the character Of security Of
fered.
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 ait Wash.
ington the most detailed information
concerning the farm lands of. this
country which probably ever has been
made concerning any region IN the
world. z.
Under the farm rcan 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
LIlc5t lOdtl6.b All SNhDOIl0 tulm1AS1oal
lis maintained by the dozen fedora!
land banks and the score Of joint
stock land banks scattered over the
for desired loans. The foundation Of
country to Determine the precise char
acter Of the land. offered as security
for desired loans. The foundation Of
Ithe federal farm loan system rests
on some four thousand national farm
lean associations. Under Che law,
these voluntary Associations of farm
ers may obtain, loans for their menu
bers, all of whom must be farmers,
Through this governmental system.
When an application for a loan is
passed on by the farm loan astoria
ton, it goes to the nearest. federal land
bank and that Institution sends out an
appraiser who is selected from per-
sons residing in the neighborhood
from which the application for the
loan conles. He must be a man fanlt-
HARLAN with land values. The farm
offered as security is carefully KAN
lined to determine dts value and the
information filed with the federal land
bank and finally forwarded to the
farm loan board at washington.
The country IL SO vast that the ex-
animation Is gradual but At proceeds
steadily. Apphcationa for loans con-
stantlY are coming in and practically
every county in the United States now
has at least ONE of>these loans. This
means that the farm le0n2 organization
every county In the country. In many
counties reports are on file concerning
almost every farm.
How Rebortsl Are Made.
The reports show what kinds of
tsofls are found 5on8the farm involved.
They show whether the landSts adapt
liable to grain, pasture, fruit growing,
truck g%ardeptng OF 1othes: agricultural
use. Frequsntiy the expert appraiser
will be ablkto arnnm0re about tho
Hand in the course of his inspection
THAN the inexpert, farmer who Shas
flived there ell his life "A farmer may
his land IS excellent fer q NUM-
Der OF purposes and the appraiser will
discover ii has been pterworked with
tout fertilization and that Its produc-
Itiveness is about at an end IN such q
case, dhc loan approved will be low.
Ion the other baud, the expert may
find a, farm of which tho farmer has
relatively low opinion 98td lonSthe So
curity OF which he asks 1.-THE. II may
develop that The faallaar5 has been
planting the wfoDg lhtd 0fs crops. 1o
suit the land-and that Il some other
produce were put II m sans SOL
these elements xr4erjato tbs examine
[tion and bring into the fiIss off the
federal farm loan eystean wealth
|0f information which ultimately Will
c0ves. most of thu couhtry.s Af MOI =
when fhat 6 acconplsshsd; h wali
|she possible, ~ consAlttstg there rec