Newspapers / The Franklin Times (Louisburg, … / Dec. 6, 1935, edition 1 / Page 10
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Credit Situation Is Improved All Over The Nation . ? <r . ?' it Country Banks Have Ample Sup ply Of Loanable Fund*? Short It Term Credit Needed. y Continued Improvement in the farmer edit tttuatlon during the coming year is In proe fcect. uyi the bureau of agricultural eco nomic* in lt? annual outlook report. The need for abort-term credit will prob Ey be eomewhat larger than in 1035. Un i there la a rapid turn-over in farm l&nd need for new long-term credit* will be gtantlally smaller than ixx. 1935. The eup of both ahort and long-term credit avail - fpr farmers will be larger relative to the b than for several yeara. In most areas farmera are in an easier fi lial poaltlon. increased income in 1030 enabled more farmers to pay off their pent debt* and to make some reduction old obligations. More farmers, it la etat l have been able to accumulate a little aur eus to take care of expenses of the follow seaeon than has been possible in reoent No Urge Losses Wo large areas have suffered complete loss {f crops and, although crops have been smaQ fe some states, higher prltes and paymenu pr the Agricultural Adjuetment Admlnlstra Bm have offsst theee loeees to some extent, pus the amount of dlstreaa borrowing should lb leas than in recent yeara. The bureau points out, however, that farm Pmay have great?/ need for working eapl funds. Higher wages for farm labor and alble increases in the price of ?ome of the ogs farmers buy may necessitate a great outlay for expenses. oredlt will be needed for feed, how* since supplies are more plentiful and lower. Prloes of feeder oattle are ? now than a year ago. and more oattle be fed in the winter of 1935-36, thus Orlng more credit for feeding operations. I some sections seriously affected by the fht in 1934, restocking of breeding herds require investment of new funds. Coftntry Bank Loans uouiivry HU1U UVI an tmplt supply at ? able fundi, and prospects Indicate an ise la the volume of their agricultural during 1036. The ability of farmer* i qualify for Bank loans has been appreciably ' ?&Md by Uie higher level of farm oom - tity prloes. which baa Increased the value the aaourlty they can offer aa collateral. Plentiful supplies of short-term credit for nera an available through Institutions dle ntlng at the Federal Intermediate credit The market for debentures at these eontlnuea highly farorahle. At the at time the maximum Interest rate to for loans discounted with the Ped ln termed late credit banks la I par oenk Loans on cotton from the Commodity " nt Corporation will be available until ' 1, 19M. Loans on com, properly stored the farm, will be available cn basis of 46 cents per bushel, auah loan* ' be made only on com which. If shelled, " grade Mo. 3 or better. Delinquencies Decrease The percentage of delinquent farm mort loans hae decreased during the last aa a result of a substantial lmpro ve nt la the level of farm lqpome. A part the reduction In delinquent loans, bow r, 1a accounted for fey the transfer of de que nt loans Into acquired real estate and.. Part, through the refinancing of loans by e Federal land banks and land bank oom lastonen. Preliminary set! mates baaed upon the Judg -nte of State tax official* and tai experts more than o? ? half of the atatse suggests for the country aa a whole the IMS farm ?rty taxes par asm probably will not dlf greatly from thoee of 1M4. The 1134 figure -ia M per oent below the 1S2B peak but la M par oant above the 191* level. The usual aredlt facllltlee available to fbrm Ewlll be supplemented In IM* by ths new ? of financial aid available through the ittlement Administration. Ths financial ?datanee will be given chiefly to daaUtuta ad low-Income farm famlllea, principally la be term of supervised credit. It te expect 1 that the loans to be mads In the ootalng ?ar Win range tram MOO to MOO each, the to be loaned depending on the lndlvld 1 estate loans an uniformly mad* a* ? 1 oent. The tsrms for repayment vary from > *o five years, according to the purpose increasing Demand For Farm Products Forecast By B. A. E. r Increased demand tor American farm pro ?oeta IB IMS to forpcuKt try thr buna of aa ?wtftunl MOMBto of tha Unlet Ste Ma Da. partment of Agriculture. - "Cooaumer baying powar within tha Onlt ?d Stataa la likely -to be* Inoraaaad about 10 - eent ant mi; the bureau's ovtlMtf aL tor ttw-li mtm. Buying power In mjf KB ammtrtaa la atoo k(hm aa UKMt to UKMy to upon International trade, tha foreign ?weptlng ootton, will not kmp paoa with I lnereaaad baring power of tbeM natlom. Long-time View Taking a longer time rVnr. It appeare that tko trend of industrial actinty aaad eonmm jr buying power, which hae baas generally tgmut, win probably oontlnue tar the nest f?o or thna yaara. The general price lerel *> tba United statea and In many foreign ?tmntrlee may continue to advance during tba same period, though noaelbly not a( ao rapid a rata aa lneraaaa " duetrlal produc tion unlaaa monetary o? . <Jt Inflation ba in ralalr 4 the genial pales the bureau aaya. j ,.m " _ _ " ' '"Ti * lane Between * The Rows By BOY BL PARK Thumbing through m y scrspbook tha other day X Mm# across thU little Item whioh ap peared la the Oanford (N. C.) Herald during the dark depression days as a re-prtnt from some paper out Wset: "II Is reported that ohe of the fastidious newly married ladles of this town kneads bread with her gloves on. This Incident may be somewhat peculiar, but there are others. The editor of this paper needs bread with his shoes on, he needs bread with his pants on, and unless some of the delinquent subscribers to this 'Old Rag of Freedom' pony up before long he will need breed without a dern thing en, and Wlxoonaln Is no Garden of Eden In the Wlntsr time." ? e e Browsing around In old oemeterlea and col lecting epitaphs provide me with an Inter esting hobby. One of the most interesting I have came from an did cemetery In WllHame port, Fenn. It goes like this: SACRED TO THE MEMORY OP HENRY HARRIS Died en 4th of May. 1837 by the kick sff a colt In his bowels. "Rateable and quiet, a friend to his father and mother and respected by all who knew him, he went to the world where borsee do not kick, where sorrew and weeping Is no more." ? S ? Then there's one from up In Burlington, Vermont: "Beneath this stone our baby lay* ? "He neither creeps nor hollers, "He Heed Just one and SO days "And eoet us 40 dollars." ? ? ? ? And mow that winter has ast In. we *11 might well taks warning from this lnaerlp Uon on a tomb In a country oome?siy in liaasachusetts: Bwwith thfc atone a liap of slay Ues Uncle Peter Daniels Who too early In the month of May Took off his winter flannels. ? ? ?_ , This Is the prise one of them all. however, i Et'a dated 17?6 and la found on a tombstone at Burlington, Mass. : Here lies the bedj of Susan Lowder Who burst while drinking gedlltx rowder Galled from this World to her Heavenly Rest Ma mould hare waited till It attars Mi ? ? ? A Mecklenburg County school recently of fered a prise for a etory of ths fewest word* m rhyme. A little boy won It with this: A mule In the barnyard, lacy and slick. A boy with a pin on tIM end of a (tick Wipe In behind him a* (till ke a mouee ? Crape on the door of the little boy'a house. ? e . . Alex ltrwton, up In Henderson. H. O, baa |uat sent me this clipping entitled "Man and Mule" which he thinks would make good wading for "Between tha Bows": "Orar the hill trailed a mam behind a mule trawlng a plow. Bald the man to the mule: "Bin, you ars just a mule, tha son of a Isckass. and I am a man made In the tsaags >f God. Tet hers wa work, hltchsd up W [ether year after year. I often wander 11 you mrk for me oc I work for you. Verily I think it la a partnership between a mule and a tool, for surely I work sa hart sa you, 11 not larder. Flowing a* cultivating we oover the ?ame distance, but you do It OD four legs ant I on two. I. therefore, do twice as much work sa you do. "Boon ws win be preparing for a con crop. When the crop la harveeted I give one-third to tha landlord tor being so kind ss to 1st ma uas a small speck of Ood'a earth. Ona thlrd goes to you aofl the Net la mine. Tou xnsums all your portion with tha exception it the ootie, while I divide mine among eaten ihlldren, six hens, two ducks, and a Danker. If wa both need shoes, you gat *m. Bin you kre getting the beat of me. and I aak you. Is It for a mole, the eon of a Jacksas, to swindle > man? tha Lord or Creation ? oat of. his rahstanceT " 'Whj; you only help to plow and cultivate the (round, and I alona. must cut, ahock and tuak the corn, while you look orar the pasture ranea and baa-haw at oa. All fall and oait rt the win tar the whole fatally, (Tom the baby up, plcka cotton to help ralee monay to pay taaka aad buy a new eat at harneas and pay the oeortgage on you. And what do you can ?bout the mortgage? Wot a thing, you ornery ma. " X. even have to do tha worrying about Lba laratgege ok your tqugh, ungrateful hide. "Aad about the only ttma I am yaw better, la <m election day. fo* 1 4u rota Mi you ?eat. Altar the election though. I reaMae ttat X waa ryjly ae big a jrtaa aa your papa.' , 'Mm or n Kb waa to boUer, .mope or If they waa ebaaped ttwy a I *?"t a-faarta* wall be ttft. But grin that I ala't out la M. If ^get^ deep In debt ? Why rd be glad It nnh Why 1 ehould aort* of*t eJte a yblia To thank tba bard X wasn't him. 1 Barer aaaa a night So dark theee wasn't Utaaswbaue about, 8 X took care To atfflu a natch and find out where. ? John Kendzlak since 1932 and the increasing need of replace ments have reoulted la greatly expanded aalea of (ana equipment. Tba proepectlve Increase 0* tea per cent for lMt abould therefore cco trlbute to a further , Inpreaae In demand, tor Iras aad ateel ior wt> machinery. Some Processing Taxes Are Real; Some Imaginary Secretary Wallace Point* To Many ' Glaring Misconceptions Of Adjustment Program. * ?- r Br DM? 1 WALLACB ^ ? (Secretary of Agriculture) One of the amazing things about the pub lic attitude toward the farm program In gen eral and the processing taxes In particular Is the extent to which that attitude Is not beted on f*cts. I mean simple facts, not complex opes; facts which must be admit ted whether you favor, oppoes, or are lnklif tereat to the program. I mean taots a# un mistakable as the height of the Washington Monument, or the number of acres In a quar ter-section of land. By way at illustration, let me tell you about an experiment an acquaintance of mine has lately been trying. Wherever he finds a group of people complaining about high food prices, and attributing the high price to the pro cessing tax, he asks these people to do a lit tle estimating. 6ince they usually mention meat prices, ?e asks them to estimate hew much the processing tax amounts to In a dollar's worth of beefsteak. 00 far he has collected several score of answers, mostly from city people, snd the answers range from S cents to 05 cents. And yet there is not now, and never Las been, any processing tax whatsoever on beef! Not more than one out of every 2Q people this man bm talked to know ^hat simple tact. We Tax On Beef Thla altuatlon via brought bom* to Waah lnfton office of the AAA rathar etrlklngly only ? few weeks sco. George Farrell, In charge of the wheat eeetlon. walked Into a butcher ahop near bla bom* bare to buy a ?tea?. The butcher picked one out for him, and then apoligized far tb* prloe. "Sorry It's ?o high," the batcher aaJd. "but tt'i because of the pro oeeelng tax." When Mr. Farrell replied that there waa no prooeaslng tax on .beef, the butcher wasn't shaken a bit. "But," said Mr. Farrell, "I'm la the AAA myself. Don't you think I ought to know?" The butcher then asked what he did In the AAA. When Mr. Farrell said he was la tb* wheat section, the butcher replied: "Ob, well, you may know something about wheat, but meat 1* my de partment, and than why I know about the tax OB beef." So far as I know the man still betters* tbers la a processing tax on beef. From a woman la {astern Ohio hae come a protest against "high prices of foodstuffs, no tably, at present, two staplsa, meat and po .tatoes." Then a he asks, "How are m to pay tbe lucre seed and Increasing price* of these two named commodities. production of which la so decidedly curtailed when our purchasing power Is yet at such low sbb?" Increased Fork- Supply Now what are tbe facts? First the facta as to surtallment programs. There Is no cur tailment program for beef, or real, or lamb, or chicken. . Tbe only curtailment program, ah* coukl possibly be talking about If that Involving pork, and that program, as now 1 shaping up, sails for material Increasss la peoiluctiba. And aa tor tb* curtailment program on po tato**, not an* pound of potatoss or. one aatltary acre of potato land ha* yet bean al Th* oogiplalnt about Mm prloe at potato*! la difficult to understand. With potat? grown getting around M eent* a buahel, m they bat* for two yea ra now, the prlo. 2 tha farmer la the loweet in many yaara. com, para It, lor lnatanoe, with ll.il a bushel In 1W0, of tl-M in 1928. It aeema grotusqu*. iy lnaccurata to talk about the high prlo* of potato** when eooaumera are paying about a cent and one hall a pound, and farmeiti are getting leea than a eent a pound. In 19S0^ (or- example, coneumere paid 3.6 cents a pouu<? 1 ]ua< don't balWve that oonaumera want beat gain foodstuff* when they know the farm* er'a ehlrt goea along with the bargain. It la eo aaay to forget what prices were a few yean ago. It *eem* to surprise man# people to learn that food prices today wt conalderably below th* 1990 level. "Burning" Of Wheat If faete about prlcee. and about procea*. lag taiae. are frequently ..overlooked, facta about the oonduct of th* varloua adjustment programa are *T*n Bare commonly mls construed. One favorite atory la that tha far mere at the direction of the AAA. plow under com and born their wheat. Parmer* know that thM (Imply lan't true, but thoe* city people who don't know farmera and farm practices may often be fooled. Not long ago oertaln metropolitan o<'Mr papers showed a picture of a yhcat itJk burning on a Missouri farm, and attribut ed the burning to the AAA. The facta la th* eaae were a* follow*: Thle farmer, un der contract with the AAA, had more acre* In wheat than hi* contract called for. The local farmers' committee urged him to dispose of the exceaa wheat by pasturing It, or later by nutting K for use a* hay. Th* local committee, thoroughly understood that the AAA ha* never ordered any wheat burned, disapproves of It. and Invariably offera farm era producing In excess of contract quota* the privilege of cancelling their agreements with the government without any penalty except the loaa of benefit^ payment a. When ? this fanner allowed his excese wheat acre age to ripen, the committee notified him b* might donate It to charity. Inatead, he burned it, and a aenaatlonal picture and newspaper atory reeulted. Misunderstanding Universal The tragedy of eplsodee like this is that they make It all but Impossible for million* of people to form their oplnlops on the basis of plain facta. And yet a willingness to form conclusions upon the basis of facts is abso lutely vital If our democracy is to survive. Plenty of facts in this complicated world ara difficult to crasp, but the facts which are so easy to prove or disprove ? facts as clear cut as those I hav^ mentioned ? ought tm be the property of every Individual who ven tures an opinion an our agricultural pro gram. ? In talking with city people I find misun derstandings as here Illustrated almost uni versal. Meat prices, largely W a result of la^^ year's extraordinary drought, have gone rapidly. Nevertheless, several years of ordi nary weather can easily result, even wit* , the maximum of help from AAA, in exceed ingly low farm prices tn a few years. II tahoovea both consumers and farmers to co operate to keep unusually wide fluctuation* in weather from causing undue harm to ei ther one. Right nOw the farmers are doing their beat to Increase the hog supply. Thi effect of this will be felt during the next year or two. By 1837 or 193g. however. wtt* ordinary weather, hog farmers can be in mucH worse poaltlon than city pork consumers thin* they are today. ^ ? (hkbtecf I triem 3* ww? n Wy frmU," ftJ Cii? tto. prManKag Imt two tons, th? SrochB. TVtw^i At ofM k?r proud boat ho* Wm Mm jywfaol ?l paraatal law*. Today on* *f 4L* iLiUm mS glut Imm m Li - * *? -t-M J "w WTItl or HIVI WT? IS re prOTVCT CrUIOfin Mt COMM of Ml between th? ag?i of fif 'NM ami hrty-llw. vjhrwtma* Stab h?lp yn preWd your >w?k" trw *m Amom. BUY * I CHRISTMAS SEALS I Jh, ***?<. _ [ ., Hp.k . ? ?
The Franklin Times (Louisburg, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Dec. 6, 1935, edition 1
10
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