SCHEME FOR THE ORGANIZATION OF RURAL, MORTGAGE CREDIT 67 



that the accounting work in connection with the mortgages be done in the 

 office of the comptroller general, without charge to the association. 



The rate at which farm mortgages will be secured will involve a saving 

 of from I to 2 14 V^^ cent, in Manitoba and from 2 to 4 per cent, in Saskat- 

 chewan and Alberta. 



The scheme may have become actual next spring. If it prove satisfac- 

 tory the governments of the provinces concerned are expected, in the course 

 of a year or two, to tackle the question of what is commonly known as " float- 

 ing credit for farmers ", the loans which carry them over from seed-time 

 to harvest. These now cost from 8 to 12 per cent, and it is hoped that it 

 will be possible to supply them more cheaply. 



