The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1922-08-09

in banking. industry and commerce
right to the farmers, and let me tell
You bankers of Georgia that the more
I study dairy conditions in Wisconsin
the more I realize that we have just
started, in fact the 1920 census shows
that we have but 81 per cent of the
area of the state in improved lands
and that much of what is left can be
turned into dairying.
Dairy Versus Crop States
But before coming to your state,
want to show the ability of dairy
states to make payments on its mort
cages as compared TO a one crop state
In doing this / want to refer to the
remarks of Mr.. E. G. Quamme, presi-
dent of the Federal Land Bank of st.
Paul, who has loans to nearly 10000
farmers, totaling s50,000.OO0, in every
section of the four great states of
Minnesota, Michigan, the great one
crop state, North Dakota, and Wis
consin. This you will agree gives
Mr.. Quamme unusual opportunity to
observe and judge the ability of farm
ers to pay, by actual experience.
President Quamme says. "We find
that where the farmers practice crop
rotation, and live stock growing, par
ticularily dairying with a number of
good milk cows ON the farm they are
successful. Right now we have only
370 delinquent borrowers in these dis
tricts, from one to 80 days delinquent
as follows
North Dakota 304, Minnesota 80,
Michigan 81, Wisconsin 49," He goes
on, ''to those who follow agricultural
conditions closely. these figures tell
their own story. Generally speaking,
the single crop farmer in North Dako-
ia is in the worse position. When
adverse conditions over take the crop,
he has nothing left to fall back on.
Farmers here (referring to Wis
consin) are largely dairymen and have
a safe and dependable income-as safe
as anything can be made in the farm
ing line. They are able to meet the
interest, taxes and other costs in ad-
verse years like this one and last.
Their homes and investments are safe
guarded. While not making much
money now, when the critical period
IS over they will be in a good posi-
ton to go ahead as before"
These are the words of the president
of the Federal Farm Loan Bank of
st. Paul in regards to states in dairy
ing and those practicing one-crop
farming.
North Dakota Conditions
Furthermore I wish to state that
North Dakota had Sd bank failures
only 10 short of the highest state
which also is one-crop state. 1t is
to be admitted that dairying, like
other lines of business. has periods OF
prosperity, and periods, not quite sc
advantageous to produce milk. How.
ever, as I have before stated, in the
long run there is not the fiuctuatior
in dairying products and that dairy
products have brought more with less
variations than any other farm
products. Consequently we consider
an investment in dairying to be tn.
| safest and the choicest form of in
vestment. Good reason that invest
ment and securities companies whe1
selling bonds of the Bankers Join
Stock Land Bank, of Milwaukee, pic
ture on the circular letters they sen
out some dairy scenes as is shown OF
the back of an issue just put out tn,
other day.
Soil Fertility
| Now there is much more to say il
regard to the dairy COW, such as he
value to soil fertility. which is grea
need in your state, the making of 4
happier, contented farmer. who com
prise rs per cent of the population O
your state, ETC., but time does not per
NIT. But I trust in taking con
crete example like I have shown b
bankers statements and financier.
and actual figures of states in tn
same locality of highestl developemer
that dairying is the backbone of agr:
culture-that from one crop state t
the dairy state, states having sam
have felt the deflation less-have ha
the least bank failures.
Il Now, let US look to your gran
!. state. Let us look straight at tt
facts as if we were sitting in a dires
tors meeting considering the matte
, of reductions of credit of a farmt
, who has not been making good ii
! last few years, for you men have CON
to this convention to check up ar
: learn possibly some new though
r whose application will mean bett,
} conditions, more prosperous commul
T tiles. a better and more satisfied agI