Imperial Valley press., 1923-09-11
By 0. G.. HORNE
Vice-President ana Manager Ell
Centre Branch, Pacific Southwest
Trust and Savings Bank

When a banker, tossed upon the
sea of doubt as to the actual econo-
mic and financial conditions in the
Imperial Valley, takes his bearings
from a clear and closeup observa-
tion of things as they are, rather
than from what they have been
misrepresented to be, he will be
confronted with certain facts:
First, section comprising 600,-
600 acres of fertile land that TWEEN
ty-two years ago was part of the
great Colorado desert, a tractless
waste of sand. without vegetation
or water enough to support life. To-
day this area is under irrigation
supplied with water from the Colo
RADIO river, harnessed and controlled
by man to- divert its waters where
and when most needed.
Second, community of $4,000
people who have fought hard
battle against nature and accom-
plished the impossible by bringing
to life land that was dead, by
bringing to fertility rich soil that
lacked only water to make it the
most productive area in the world.
A Marvellous Valley
Third, an agricultural area that
has produced annually in wealth Il
sum equal to two thirds of it's as
sessed valuation; that in 1922 ship
ped to market 6,5O0,0O0 pounds of
butter, more than $4,000 bales of
cotton, 1880 cars of cantaloupes,
1920 ears of lettuce and various
other products in broken car lots;
q valley that is credited by the
Southern Pacific Railroad with hav-
ing sent cut last year 10000 car
loads of fruits, vegetables and grain
in car lot shipments, and has in
times past supplied the market with
a car load of farm stuff for every
individual of it's population.
Fourth, this banker will find
debt against this land in the I'M
perial Valley of about $26 an acre
as compared with an underlying
debt for irrigation purposes in 9th
er districts in California of $50 per
acre. He will find country that
has an enormous productivity per
acre and small underlying debt
per acre; county with a bonded
debt of oniy $1,S00,ooo, and ID
school system equal to the best in
the state built up with funds from
bonds that sell readily in all in
vestment markets.
Economically Sound
F Economically the Imperial Valley
is sound. It has felt the pinch of
agricultural depression and farm
poverty; its ranehers have broken
under financial disencouragementsI
and its banks have carried enor-
NOUS credit laods under trying con-
ditions. But these reverses are
only incidental to any farming COM
munity and they are common to all.
The farmers of the Imperial Valley.
its business men and financial sup
porters have not lost faith. Rather
they have determined to wipe out
errors of the past and to plant in
dustry upon the sure foundation of
enlightened science and sound prac.
tice.
The price of land in the Imperial
Valley, compared with other see
tions of California, soil for soil,
productivity for productivity, wa
ter rights for water rights, and in
come for income, is the cheapest in
the state. Based upon sound val
ues this land is safe foundation
for credit extension, and farm NOR
tgage loans conservatively placed
become excellent investments. Fore
closures of the past two years re-
present largely lack of information,
excessive risks, over extension of
credit, zeal for high interest rates
and careless investigation on the
part of lenders. There is no ply
steal or economic reason why farm
loans intelligently placed should
not have the confidence of banks
and individual investors.
From the bankers viewpoint
prospects in the Imperial Valley are
fine. Frankly stated, we have the
elements that will make prosper
Gus farming community. Not all of
these elements have been develope6
to completion, but they only await
the hand of science and souud ap-
plication.
Men Are Essential
First of all it needs men. 1t
needs men who want to farm with
their hands and their brains. 1t
needs men who want to develop, to
make things grow, to realize "A
vision of accomplishment. Sixty
five per cent of our lands are own
ed by non-residents who depend.
upon tenant farmers for the ap-
plication of scientific methods.
These lands should be cut up into
small farms, sold to "dirt" far
mers and developed into homes for
our own people. When this is ac-
eomplished it will replace careless
cultivation with intensive cultiva-
ton, it will place our ranches upon
a basis of permanent development
and attract a higher class Of eiti-
zenship. 1t will give the lie to the
statement that Imperial Valley is
not white mans country.
Second, the valley needs an in
~ rumanf for tha nrof ~ a blo and ~,